Tuesday, 21 November 2017

Quess Corp spikes 10% on acquisition of 51% stake in TBSS from Tata Sons, Tata Capital

"TBSS fills a strategic gap in Quess' offerings related to CLM and BPM space," the company said, adding it is an EPS accretive transaction.

 Intraday stock tips NSE tipsQuess Corp share price rallied nearly 10 percent in morning on Monday after the acquisition of 51 percent equity stake in Tata Business Support Services.

"...has signed a definitive agreement with Tata Sons and Tata Capital to acquire a 51 percent stake in Tata Business Support Services (TBSS) for up to Rs 153 crore in cash," the business services provider said in its filing.

Tata Sons will hold the remaining 49 percent stake in the company, it added. The transaction is expected to close by December 31, 2017. Intraday stock tips NSE tips

"We are excited about our partnership with the Tata Group. This investment marks a significant milestone for Quess in its journey to build a world class business services platform," Quess Corp Chairman and MD Ajit Isaac said.

TBSS is among India's premier customer experience management companies, with over 10 years of sectoral expertise, Quess Corp said.

Headquartered in Hyderabad TBSS serves diverse third-party clients such as BFSI, auto & manufacturing, telecom & media, retail and in emerging industries, in India and abroad, with an employees strength of around 27,000 employees.

Tata Sons' subsidiary TBSS, which offers customer life cycle management (CLM) and business process management (BPM), had reported revenue of Rs 661 crore in year ended March 2017, against Rs 590.7 crore in FY16.

"TBSS fills a strategic gap in Quess' offerings related to CLM and BPM space," the company said, adding it is an EPS accretive transaction.

At 09:44 hours IST, the stock price was quoting at Rs 925.70, up Rs 59.75, or 6.90 percent on the BSE. In previous session, it surged nearly 6 percent.

Tuesday, 14 November 2017

Market Update: JP Associates tanks over 10%, RComm hits 52-week low; RIL top Nifty gainer

The top losers were Bharti Infratel which fell 3.5 percent followed by Sun Pharma which shed 1.92 percent while BPCL, IOC and HPCL also added to the Nifty fall. On the other hand, Repco Home Finance zoomed over 9 percent followed by Videocon Industries, Vakrangee, Cox & Kings and KPIT Technologies from the BSE.

Indian stock market nse tipsThe Indian benchmark indices on Tuesday morning were trading on a negative note with the Nifty down 10.85 points or 0.11 percent while the Sensex shed 17.83 points at 33015.

The Nifty midcap index was trading in the red, down 0.25 percent dragged by Jaiprakash Associates which tanked over 10 percent after the Supreme Court came down heavily after the company missed deadline to deposit RS 2,000 crore towards refunding home buyers. Petronet LNG was down 1.8 percent while Unitech fell over 3 percent.

Bank Nifty was also in the red dragged by ICICI Bank, IndusInd Bank and Federal Bank. Bank of Baroda and Axis Bank were the top gainers. Indian Stock Market Intraday tips

From the Nifty, the stocks that gained the most were NTPC which was up over 2 percent followed by Reliance Industries which added 1.06 percent. UPL, Hero MotoCorp and Mahindra & Mahindra were the other top gainers.

The most active stocks apart from Bharti Infratel, SBI, Just Dial, SBI and Sun Pharma.

The top losers were Bharti Infratel which fell 3.5 percent followed by Sun Pharma which shed 1.92 percent while BPCL, IOC and HPCL also added to the Nifty fall.

From the BSE, the stocks that gained the most included Repco Home Finance which zoomed over 9 percent followed by Videocon Industries, Vakrangee, Cox & Kings and KPIT Technologies.

The stocks that hit new 52-week high on NSE included Hexaware Technologies, Minda Corp, VIP Industries, Balkrishna Industries, Graphite India and Hatsun Agro.

Reliance Communications hit new 52-week low and was down 3.7 percent in the morning trade.

From the BSE, the stocks that hit fresh 52-week high were Vardhman Holdings, Lux Industries, Goa Carbons and Yuken India.

The market breadth was in favour of the declines on Tuesday morning with 731 stocks advancing as against 859 declines. On the other hand, 1049 stocks advanced and 1061 stocks declined on the BSE.

Research firm Nomura has maintained a buy on Yes Bank but has cut the target price to Rs 375 from Rs 440.

Chandan Taparia of Motilal Oswal Securities recommends buying 330 Put options in Yes Bank with stop loss of Rs 4 and if the stock declines, then this Put can move towards Rs 13-14.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd

Monday, 13 November 2017

Nifty likely to shed 10 points at opening bell: Maximus Securities

Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 10.5 points at the opening bell, says Maximus Securities.

 stock market tipsF&O Outlook:

Nifty PCR-OI has decreased to 1.05 from 1.07. The fall in the ratio may be due to decrease in PE of 10000 and increase in CE of 10300. PE of 10300 and CE of 10400 are the highest number of contracts traded.

Opening for the Day:
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 10.5 points at the opening bell. Indian Stock Market Tips

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Tuesday, 7 November 2017

Tata Chemicals shares gain 2% on board nod to sell Haldia fertiliser unit

Tata Chemicals said that the divestment by the company is in line with its strategic direction to focus on speciality chemical and food businesses while maintaining leadership in inorganic chemicals and exiting the fertiliser business.

stock market news Tata Chemicals share price gained as much as 2 percent in morning Tuesday after getting board approval for selling Haldia fertiliser unit to Netherlands-based Indorama Holdings BV for Rs 375 crore.

"The board of directors on Monday has approved the sale of phosphatic fertilisers business by way of a slump sale on a going concern basis to IRC Agrochemicals Private Limited (IRC), a wholly owned subsidiary of Indorama Holdings BV," the company said in its filing.

The transaction would involve transfer of Haldia plant, trading business of bulk and non-bulk fertilisers along with immovable, movable properties, working capital and product brands but excluding outstanding subsidy amounts, it added. STOCK MARKET TIPS

The board also approved the execution of definitive agreements between parties in this regard, subject to regulatory approvals.

Commenting on the development, Tata Chemicals Managing Director R Mukundan said, "The company continues to move forward on its strategy to focus on speciality chemicals and consumer food business while maintaining leadership in inorganic chemicals business."

Tata Chemicals said that the divestment by the company is in line with its strategic direction to focus on speciality chemical and food businesses while maintaining leadership in inorganic chemicals and exiting the fertiliser business.

Its speciality chemical portfolio includes sodium bicarbonate business, agrochemicals through its subsidiary, Rallis India in addition to the planned investments in the greenfield sites in Nellore for nutraceuticals and in Dahej for the HD Silica business.

Food business includes pulses, spices under Tata Sampann brand in addition to edible salt brand Tata Salt.

Tata Chemicals is amongst leading soda ash manufacturers in the world, with operations in India, Kenya, South Africa, the UK and the US.

At 09:32 hours IST, the stock price was quoting at Rs 741.60, up Rs 5.80, or 0.79 percent on the BSE.

Friday, 3 November 2017

Buy, Sell, Hold: 6 stocks are being tracked by brokerages today

Vedanta, Glenmark and Hindalco, among others, on the radar of investors on Friday.

Stock daily performanceVedanta

Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 405

CLSA said that a rise in Q2 EBITDA was driven by higher commodity prices, low base for HZL volume. Meanwhile, earnings outlook was strong given the ramp up of new aluminium smelters and zinc expansion.

Brokerage: Macquarie | Rating: Outperform | Target: Rs 372

Macquarie said that the company’s Q2 EBITDA was 5% below estimate due to higher costs in the aluminium division. Further, higher costs and short alumina position drove 5-6 percent cut in FY18-19 EPS. The firm also sees a case for multiple re-rating, raise India business EV/EBITDA To 6x from 5.5x. Stock daily performance

Power Grid

Brokerage: Axis Capital | Rating: Hold | Target: Rs 215

Axis Capital said that the company’ Q2 growth was largely in-line with pickup in capitalization. Further, an expectation of further capitalisation gives visibility of 15% earnings CAGR over 5-7 Years.

Brokerage: CLSA | Rating: Buy | Target: Rs 260

CLSA said that the firm’s Q2 capitalisation was up 50%, HVDC lines drive catch-up. In fact, a strong Q2 supported the thesis of strong PAT growth led by high-margin telecom business. Further, it believes that the best is yet to come in terms of capitalization. It is also forecasting 40% rise in regulated equity in FY17-20, which should drive EPS CAGR of 15%.


Brokerage: Macquarie | Rating: Outperform | Target: Rs 728

The research firm said that Q2FY18 EBITDA handsomely beat our estimate led by lower other expenses. Further, it said that the stock was trading at an attractive valuation of over 14x FY19e EPS. A reduction in net debt and US sales acceleration remains a key.


Brokerage: Macquarie | Rating: Outperform | Target: Rs 330

The brokerage said that Novelis’ Q2 EBITDA beat its estimates by 6%, led by strong volume growth. Meanwhile, commodity price upgrades & guidance drove 9-15% EPS upgrades for FY18-20. It also sees a case for multiple re-rating and increase the India business EV/EBITDA from 6.5 times to 7 times.

Brokerage: UBS

UBS expects positive reaction to strong Novelis results & upward revision to FY18 consensus. The biggest risk in India is to import competition and the execution at its units.

Brokerage: Credit Suisse | Rating: Outperform | Target: Rs 270

JV completion between Kobe & Novelis should help efficiently monetise rolling Korean capacity. Further, it remains positive on the firm with some upside at Novelis, relative strength in aluminium prices.

Divi’s Labs

Brokerage: Edelweiss Fin | Rating: Reduce | Target: Rs 920

Edelweiss said that it revised FY19 EPS by 10% post current clearance of regulatory issues. It rules out growth for next 2 years as the firm is unable to initiate fresh capex for Kakinada.

AU Small Fin

Brokerage: Morgan Stanley | Rating: Initiate coverage with overweight | Target: Rs 725

The brokerage expects strong growth/high profitability going ahead. While the stock is not cheap w.r.t to Sensex multiples, expect premium valuation to persist.

Berger Paints

Brokerage: Macquarie | Rating: Neutral

Macquarie said that Q2 results in-line with estimates & indicate 8-9% volume growth, while volume growth appears to be similar to Asian Paints. It also said that the gross margin improved QoQ but still trending down YoY.

Thursday, 2 November 2017

Market update: Pharma stocks rally as Divis zooms over 16%; ICICI hits new 52-week high

CNX Pharma zoomed 3.44 percent on Thursday morning with Divis Laboratories rallying over 16 percent while Aurobindo Pharma, Cadila Healthcare, Sun Pharma, Lupin and Glenmark Pharma were the other top pharma leaders.

Intraday tips contact us The Indian benchmark indices after hitting record highs on Wednesday continued to trade in the positive territory with the Nifty50 marginally up 4.8 points at 10445 while the Sensex gained 26 points trading at 33623 in the morning trade. The midcap sector was yet again the outperformer with the index gaining 0.65 points led by IDBI Bank, Biocon, Mcleod Russel and Power Finance Corporation. Intraday tips contact us

CNX Pharma zoomed 3.44 percent on Thursday morning with Divis Laboratories rallying over 16 percent after USFDA said that it will be lifting the import alert to the company's unit-II at Visakhapatnam. Other pharma stocks which gained the most were Aurobindo Pharma, Cadila Healthcare, Sun Pharma, Lupin and Glenmark Pharma.

From the Nifty, the stocks that gained the most included Aurobindo Pharma, Sun Pharma and Lupin. GAIL India was up 1.79 percent while and ICICI Bank added 1.48 percent which were the other Nifty gainers. The most active stocks included Divis Laboratories, ICICI Bank, Reliance Industries and Dredging Corporation.

The stocks which gained the most in the BSE index were Divis Laboratories followed by Infibeam, MMTC and Hindustan Copper which jumped over 8 percent each. Hexaware Technologies from the IT space was up 7.98 percent.

Several stocks hit new 52-week high on the NSE, the likes of Bannari Amman, Shriram Transport Finance, Weizmann Forex, Power Mech Projects, Graphite India, ICICI Bank and KIOCL. The stocks which hit 52-week high on the BSE were Bengal & Assam Company, Eldeco Housing, Hindusthan Urban Infrastructure, Power Mech Projects and Finolex Cables.

The market breadth was strong and in favour of the advances with 999 stocks advancing as against 570 declines while on the BSE, 1378 advanced and 904 declined.

Global research firm Credit Suisse has maintained a neutral rating on Hexaware Technologies and has hiked price target to Rs 265 from Rs 230. It has raised the company's earnings estimates by 4-7 percent, accounting for lower tax rate and slightly higher margins.

Technical Analyst Ashwani Gujral of ashwanigujral.com, has a buy on MMTC with a stop loss of Rs 68, target of Rs 76 and Hindustan Copper with a stop loss of Rs 73, target of Rs 85.

Wednesday, 1 November 2017

Market Live: Nifty extends rally; Sensex jumps 300 pts as WB ups India ranking

SBI, Bharti Airtel, Axis Bank, Yes Bank, Vedanta, Tata Steel and JSW Steel were early gainers.

intraday free trials tips10:56 am Buzzing: Share price of Texmaco Rail and Engineering touched 52-week high of Rs 119.20, rising 3.5 percent in morning as it has bagged contact from Ministry of Railway, Bangladesh Government.

The company has been awarded a contract valuing USD 67.7 million by Ministry of Railway, Bangladesh Government.

The contract includes construction of 45 KM dual gauge railway line, including railway stations buildings, level crossing gates and a custom house building through north eastern border area in Maulavibazar district of Bangladesh adjoining Karimganj district of Assam state in India.

10:46 am Manufacturing PMI: Indian factory activity barely expanded in October as new orders fell, a survey showed today, as price rises following the introduction of a goods and services tax dragged on the economy and underscored dim growth prospects over coming months.

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 50.3 last month from September's 51.2, marking its third month above the 50-point threshold that separates growth from contraction. Intraday free trials tips

That was below all projections in a Reuters poll which had predicted a modest uptick to 51.5 and comes after another recent Reuters survey forecast India's economy will grow at its slowest pace in four years this fiscal year.

10:36 am Escorts in focus: Farm equipment manufacturer Escorts Agri Machinery today reported a 13.8 percent increase in its tractor sales at 10,205 units for October.

The company had sold 8,970 tractors in the same month a year ago.

Domestic tractor sales stood at 10,001 units as against 8,859 in October last year, up 12.9 per cent, Escorts Ltd said in a BSE filing.

Exports nearly doubled to 204 units from 111 in October 2016.

10:26 pm Auto sales: India's largest car maker Maruti Suzuki's October sales missed analyst expectations on Wednesday, rising 9.5 percent year-on-year. It was driven by compact cars (Dzire, Baleno etc) and utility vehicles (Vitara Brezza, Ertiga etc).

The company sold 1.46 lakh units in October 2017 against 1.34 lakh units in same month last year.

"Domestic sales during the month increased 9.9 percent to 1.36 lakh units and exports rose 4.2 percent to 10,446 units," Maruti said in its filing.

According to average of estimates of analysts polled by CNBC-TV18, total sales were estimated at 1.53 lakh units for the month.

10:15 am Merger: The board of directors of Reliance Communications yesterday approved the issuance of shares to the tune of 10 percent of the equity shareholding of Reliance Communications, to SSTL, as part of the agreement between the two companies.

Under the terms of the agreement between RCOM and Sistema, RCOM will acquire the telecommunications business of SSTL including its licenses. In addition, RCOM will acquire 30 MHz of the most valuable and superior 800 / 850 MHz band spectrum, ideally suited for 4G LTE services and other evolving technologies, to complement its own unique nationwide footprint.

This will result in extension of the validity of RCOM’s spectrum portfolio in the 800 / 850 MHz band in eight important Circles (Delhi, Gujarat, Tamil Nadu, Karnataka, Kerala, Kolkata, UP-West and West Bengal) by a period of 12 years—from 2021 to 2033.

10:05 am Market Update: Equity benchmarks extended gains in morning, with the Sensex rising more than 300 points after World Bank raised India ranking on ease of doing business. Investors also looked for more corporate earnings, auto sales data, and the outcome of FOMC meet due tonight.

The 30-share BSE Sensex rallied 333.62 points or 1 percent to 33,546.75 and the 50-share NSE Nifty rose 92.90 points or 0.90 percent to 10,428.20.

About three shares advanced for every share falling on the BSE. The BSE Midcap index was up 0.7 percent and Smallcap rallied 0.9 percent.

9:58 am Earnings Reaction: Shares of FMCG major Dabur India jumped over 6 percent in morning and hit a new 52-week high after the company reported a net profit of Rs 362.7 crore on Tuesday against investors’ expectation of Rs 369 crore.

Its revenues grew to Rs 1,959 crore against Rs 2,061 crore assumption by analysts.

At an operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) was reported at Rs 420 crore, while the operating margin came in at 21.4 percent. The company’s domestic volume growth beat expectations at 7.2 percent.

9:52 am Buzzing: Shares of Alembic Pharmaceuticals added nearly 2 percent in morning as it has completed the acquisition of US-based company Orit Laboratories.

The company through its 100 percent owned subsidiary, Alembic Pharmaceuticals Inc., has completed acquisition of West Caldwell, New Jersey USA based generic drug developer Orit Laboratories LLC along with real estate, owned by Okner Realty LLC.

Orit Laboratories has established in August 2005 having 7 approved ANDAs and 4 ANDAs pending approval.

9:42 am FII View: The Nifty50, which has already rallied over 26 percent to touch a fresh record high, is on its way to surpassing Mount 11,000 in the year 2018, which translates into an upside of over 11 percent.

Goldman Sachs in a note last week remained overweight on India and raised the target for Nifty from 10,900 in September 2018 to 11,600 by December 2018, which translates into an upside of 11.6 percent from current levels.

“We reaffirmed our strategic overweight stance on India post the bank recap news and raised our Nifty target to 11,600 (by end-’18). Within sectors, we raised PSU banks to overweight and highlighted 2 themes: 1) quality PSU/quasi-PSU banks; 2) infra-beneficiaries,” it said.

The global investment bank favours PSU banks and infra beneficiaries. Goldman has a neutral rating on SBI and Bank of Baroda. It maintained a buy rating on ICICI Bank.

9:32 am Stake Sale: Telecom major Bharti Airtel said a few "reputed" global investors have approached it for buying a controlling stake in its mobile tower arm Bharti Infratel.

The telecom major, which holds 58 percent in Bharti Infratel through its another subsidiary, said that a committee of directors (COD) of Bharti Airtel is considering the proposal received from the global firms.

"Airtel has been approached by a few reputed global investors to acquire a significant stake in Bharti Infratel which, if accepted, could result in such investors acquiring control of Bharti Infratel," the telco said in a statement.

"The COD has recommended that such proposals be duly considered," the statement said.

Bharti Airtel will hold 50.33 percent stake while its wholly owned subsidiary Nettle Infrastructure Investments 11.32 percent in Bharti Infratel.

9:25 am Earnings: IIFL Holdings reported a 25 percent rise in consolidated net profit at 229.1 crore for quarter-ended September 30, this fiscal.

The company's net profit stood at Rs 183.1 crore, during July-September quarter of 2016-17.

IIFL's income surged nearly 42 percent to Rs 944.4 crore in the second quarter of 2017-18 from Rs 666.4 crore in the same period year-ago.

The company's total assets under management, distribution and advice saw 47 percent year-on-year growth to reach Rs 1.33 lakh crore in the September quarter, this fiscal.

The stock rallied nearly 7 percent in early trade.

9:20 am FM on World Bank report: After the World Bank ranking was made public, Finance Minister Arun Jaitley said India is the only major country named for pursuing structural reforms.

"In 2014, we were 142nd and then (in) last two years, we improved to 131st and 130th. These are not generalised rankings. It happened in specific areas and they take tough parameters for that ranking," he said.

The "highest jump" in ranking was possible as significant improvements in all the 10 judging parameters were made in last 3-4 years "so that it becomes easy to do business in India," he said.

The World Bank, he said, has named 10 countries where structural reforms have been taken. "India is one of them."

The World Bank says India still lags in areas such as starting a business, enforcing contracts and dealing with construction permits.

9:15 am Market Check: Equity benchmarks as well as Nifty Bank started off Wednesday's trade with record highs, backed by banks, metals and telecom stocks. The rally was after the World Bank said India's rank on 'ease of doing business' scale has risen from 130th to 100th this year, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution.

The 30-share BSE Sensex was up 209.28 points or 0.63 percent at 33,422.41 and the 50-share NSE Nifty rose 61.20 points or 0.59 percent to 10,396.50.

About 950 shares advanced against 202 declining shares on the BSE.

SBI, Bharti Airtel, Axis Bank, Yes Bank, Vedanta, Tata Steel and JSW Steel were early gainers.

Dredging Corporation, Syndicate Bank, Dabur India, VST Industries, Dwarikesh Sugar, Dalmia Bharat Sugar, Escorts, Sanofi India, Triveni Engineering, PNB, UCO Bank, Andhra Bank, Union Bank, IIFL Holdings, KPIT Technologies and InterGlobe Aviation rallied 11-10 percent. Container Corporation, Blue Star fell 2 percent each.