Stocks

Top stocks in focus on 15 November 2017

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NEW DELHI: Domestic equity markets are likely to see a negative opening on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

At 8 am, Nifty futures trading on SGX were trading 37 points, or 0.36 per cent, lower at 10,191, indicating a negative start for the Nifty50. Here is a list of top stocks that are likely to be in focus in today’s trading session:

Care Ratings, Somani Ceramics: Care Ratings, Somani Ceramics, HMT, Automotive AxlesBSE 11.12 %, DigjamBSE -3.86 %, Golden TobaccoBSE 2.00 %, Wonderla Holidays and The New India Assurance will release their quarterly numbers during the day.

Idea CellularBSE 1.14 %, Bharti AirtelBSE -2.15 % and Bharti Infratel: Vodafone Group Plc has valued its 42 per cent stake in Indus Towers, the largest telecom tower company in India, at $5 billion (around ₹32,720 crore). Bharti Infratel, Vodafone India and Aditya Birla Telecom hold 42 per cent, 42 per cent and 16 per cent shareholding, respectively, in Indus. Meanwhile, CLSA has retained ‘sell’ rating on Idea Cellular and revised target price to Rs 77 from Rs 70.

Reliance Industries: The company has prima-facie not complied with one clause of the government’s coal bed methane marketing policy, the oil ministry has found in its preliminary assessment. RILBSE -0.43 %, however, said it abided by CBM pricing policy’s stated objective.

Hindustan Unilever: Credit Suisse has upgraded HULBSE -1.45 % to ‘outperform’ from ‘neutral’ and raised target price to Rs 1,500 from Rs 1,250 on roll forward of valuation to December 2019. The brokerage said HUL is one of the major gainers of GST council lowering GST rates in many FMCG categories.

Sobha: Macquarie has maintained ‘outperform’ rating on Sobha and raised target price to ₹603 from Rs 472 on account of roll-over of valuation. The brokerage said that Sobha’s earnings for the quarter ended September were in line with expectations. With all projects lined up for 2H FY18, we believe presales will improve further, said Macquarie.

Sun Pharma: The Dilip Shanghvi-controlled firm posted a 59 per cent drop in net profit for the second quarter, but it was above market expectations. Revenue fell15 per cent to Rs 6,590 crore and the US business continued to suffer. But the firm and its investors will be happy with the performance of the India and the emerging markets (EMs) business. While EMs grew 16 per cent, the Indian business shrugged off GST worries to grow by11 per cent.

Bank of Baroda: The company reported 36 per cent fall in net profit in the September quarter as its provisions for loan losses surged and income from treasury fell. But the overall bad loans position has eased and the bank forecast better days ahead if the National Company Law Tribunals delivers on recovery from defaulters.

Indiabulls Housing Finance : The company which acquired 40 per cent of OakNorth Bank for Rs 663 crore in November 2015, has sold a third of its stake in the UK bank to the Government of Singapore-owned GIC for Rs 770 crore, making more than three fold gains in just two years.

NBCC: Banks and financial institutions have approached state-run real estate developer, NBCC (India) to develop some of the land assets that have been pledged with them by the promoters of defaulting firms.

[“Source-economictimes”]

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Loknath Das

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