Nifty futures on the Singapore Exchange were trading 30 points, or 0.27 percent, lower at 10,916.50, indicating a negative start for the Nifty50. Here are a few stocks, which may buzz the most in Monday’s trade:
Tata Motors: The stock, which is at a crucial support level, could witness a further round of selling on Monday, going by the almost 8 percent fall in its ADR price ($10.5) at close on Nasdaq Friday. The ADR trades post-Indian markets’ closure.
Spicejet, Eicher Motors: India Cements, Eicher Motors, SpiceJet, Motherson Sumi, Hindustan Copper, Max India, Jaypee Infratech, Andhra Bank, Care Ratings, Amtek Auto are among 313 companies set to announce their December quarter results on Monday.
Tata Steel: The Tata group company reported 54.31 percent year-on-year (YoY) rise in profit at Rs 1,753 crore for December quarter, which fell short of Rs 2,289 crore net estimated by analysts in an ET Now poll. The company had posted Rs 1,136 crore profit in the similar period last year.
Zee, ONGC: Hong Kong-based broker CLSA, in a note titled “Pigs That Might Fly,” lists 22 stocks in Asia region where valuations are at record low levels due to perception concerns, but offers significant upside if valuation reverts to the mean. Of the 22 stocks, six are from the Indian market including ONGC, Coal India, Bharti Airtel, ACC, ICICI Pru, and ZEE Entertainment.
Bharti Airtel: The company said its unit Airtel Networks Kenya and Telkom Kenya have signed a pact to merge operations, which will help the Sunil Mittal-led telco emerge stronger in the east African market. It will also improve overall valuation in the runup to its initial public offer (IPO) in Africa, likely in May-June.
SBI, OBC: State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore. The country’s largest lender SBI has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs) to recover an outstanding of Rs 4,975 crore.
IDFC: The NBFC reported an 11-fold jump in net profit for the December quarter at Rs 26.28 crore, mainly due to a tax adjustment. The company also said that it, along with IDFC Financial Holding Company, has entered into a pact with The Chatterjee Group (TCG) that one or more entities of TCG will acquire stakes in IDFC Securities from IDFC FHCL.
Vodafone Idea: The country’s largest telecom firm Vodafone Idea is planning to invest around Rs 20,000 crore in networks over the next 15 months, according to company officials.
Rallis India: Crop solution company Rallis India Saturday said it has appointed Sanjiv Lal as its managing director and CEO. The Board of Directors at its meeting unanimously approved the appointment of Lal for a period of five years from April 1, 2019, to March 31, 2024, subject to the approval of the shareholders, company said in a release here.
Engineers India: Engineers India has won a project management consultancy contract from Magnolia for a new 1.5 million tonnes refinery that the country is set up.
Thyrocare Technologies: The company said its consolidated net profit slipped slightly to Rs 20.15 crore in the third quarter ended December 31. The company’s consolidated net profit stood at Rs 21.47 crore in the same quarter last fiscal, it said in a BSE statement.
Apollo Hospitals: Apollo Hospitals Enterprise posted about 29 percent jump in net profit to Rs 86.93 crore for the third quarter ended December 31, mainly due to higher revenues. Its standalone net profit was Rs 67.44 crore in the same quarter previous fiscal, the company said in a BSE filing.
NTPC: State-owned power giant NTPC has sought shareholders’ nod for the issuance of bonus shares to raise up to Rs 1,649.09 crore. “(Consent of members sought to capitalise a sum not exceeding Rs 1,649.09 crore out of the general reserves for allotment of new equity shares of Rs 10 each as fully paid-up bonus shares…in the proportion of 1 (one) new equity share for every 5 (five) existing equity shares held by the members,” a BSE statement said.
Bajaj Electricals: Consumer durables maker Bajaj Electricals is eyeing around 48 percent growth in revenue to Rs 7,000 crore this fiscal, mainly driven by robust performance of its EPC segment, said a top company official.
ONGC, Oil India: The government plan to offer PSUs special incentives for natural gas discoveries in difficult and unviable areas will help raise India’s natural gas production as it will unlock output in a dozen fields of state-owned ONGC and OIL, officials said Sunday
Voltas: Tata group firm Voltas said it will invest over Rs 500 crore to set up a manufacturing facility in Tirupati, Andhra Pradesh.
American depositary receipts of Tata Motors plunged 7.81 percent on Friday. They were followed by ADRs of Vedanta (down 4.65 percent), MTNL (down 4.44 percent), Dr. Reddy’s (down 1.97 percent) and ICICI Bank (down 1.51 percent).