Buzzing Stocks: Amtek Auto, Suzlon, Sagar Cements soar, while SBI, Hathway Cable drop

Buzzing StocksSuzlon Energy has secured a fourth consecutive order for 50.40MW wind power project from a business house. The project consists of 24 units of S95 90m tubular tower with rated capacity of 2.1 MW. Located in the district of Anantapur, Andhra Pradesh, the project is scheduled for completion in March 2017. The stock is currently trading at Rs 14.87, up by Rs 0.29 or 1.99% from its previous closing of Rs 14.58 on the BSE.

Sagar Cements Ltd is currently trading at Rs 726.55, up by Rs 106.65 or 17.2% from its previous closing of Rs 619.9 on the BSE. The Board at its meeting held on November 28, 2016 inter-alia, fixed an issue price of Rs 800 per equity share (which includes a premium of Rs 790 per share) for the 6,11,986 equity shares of Rs 10 each of the company being issued for cash on a preferential basis, subject to receipt of further necessary approvals as may be required.

ICICI Bank Ltd is currently trading at Rs 255.1, down by Rs 4.75 or 1.83% from its previous closing of Rs 259.85 on the BSE. Around 21.3 lakh shares were traded in a single block.

Thirumalai Chemicals reported a net profit of Rs 37 crore for the first half of financial year 2017 as against a profit of Rs 4 crore a year ago. The stock is currently trading at Rs 719.05, up by Rs 34.2 or 4.99% from its previous closing of Rs 684.85 on the BSE.

Amtek Auto Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on November 30, to consider the proposal of infusion of fresh equity by the new investors and restructuring of the Company as proposed by investors. The stock is currently trading at Rs 41.2, up by Rs 2.6 or 6.74% from its previous closing of Rs 38.6 on the BSE.

Cipla rose 1.6%. Cipla Ltd is in discussions to sell Cipla Vet, its animal health division, as per media reports. According to the report, the company hired global investment bank Rothschild to find potential buyers.

Shares of airline stocks rose on Monday as uncertainty over the deal to cut output by the Organization of the Petroleum Exporting Countries at a meeting on Wednesday pushed oil prices down. SpiceJet reported a rise of 103% in its net profit for the second quarter of 2016-17. The company’s Q2 net profit stood at Rs 58.9 crore from Rs 29 crore reported in the corresponding quarter of 2015-16.

Ashok Leyland inched up 1.2%. Ashok Leyland has completed the acquisition of Nissan Motor Co. Ltd.’s stake in each of the three joint ventures formed between the two companies.

Aurobindo Pharma is trading lower at Rs 736. Arrow Generiques SAS, the French subsidiary of Aurobindo Pharma, has signed an agreement to acquire select commercial products in France from Teva.

BEML zoomed 2.5%. The company reported standalone net loss narrowed to Rs 16.6 crore for the second quarter ended September 30, 2016, against that of Rs 24.6 crore in the corresponding quarter of previous fiscal.

Strides Shasun gained 1%. Strides Shasun’s wholly owned subsidiary Strides Arcolab International, UK has entered into an agreement with Moberg Pharma, Sweden to acquire the ‘PediaCare’ brand for a total consideration of $5 million plus inventory value at closing.

Hathway Cable & Datacom slipped 2.6%. The company has reported a net loss of Rs 40 crore for the quarter under review as compared to a net loss of Rs 32 crore for the same quarter in the previous year.

The BSE Oil and Gas index is trading up 1.6% or 190 points at 11,943 as against the previous close of 11,753.

The BSE Oil and Gas index opened at and hit a high of 11,953.45 and a low of 11,705. The oil stocks are trading higher as international oil prices declined after a planned meeting today between OPEC and non-OPEC producers was canceled.

Oil rebounds from 2% losses as OPEC embarks on a last-ditch diplomatic push to reach a production cut and will meet in Vienna on Wednesday; a meeting with non-OPEC producers today was canceled after Saudi Arabia decided not to attend and suggested the oil-club doesn’t necessarily need to curb output.

Hindustan Petroleum Corporation Ltd is currently trading at Rs 479.4, up by Rs 17.2 or 3.72% from its previous closing of Rs 462.2 on the BSE. The scrip opened at Rs 464 and has touched a high and low of Rs 481.25 and Rs 462.35 respectively. So far 2129614 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 46954.05 crore.

Bharat Petroleum Corporation Ltd is currently trading at Rs 659.9, up by Rs 20.25 or 3.17% from its previous closing of Rs 639.65 on the BSE. The scrip opened at Rs 639.65 and has touched a high and low of Rs 663.85 and Rs 639.65 respectively. So far 1597983 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 92504.17 crore.

Indian Oil Corporation Ltd is currently trading at Rs 304, up by Rs 7.5 or 2.53% from its previous closing of Rs 296.5 on the BSE. The scrip opened at Rs 297 and has touched a high and low of Rs 306.3 and Rs 295.5 respectively. So far 1239474 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 143977.58 crore.

Oil India Ltd is currently trading at Rs 442.05, up by Rs 5.15 or 1.18% from its previous closing of Rs 436.9 on the BSE. The company will announce its Q2 numbers today.

Rajshree Sugars & Chemicals climbed 5.3%. The company has entered into a share purchase agreement with the prospective buyer, for the sale of the wholly-owned subsidiary Company Trident Sugars, having the sugar factory at Telangana. As per the said agreement, the prospective buyer is expected to close the sale transaction by March 31, 2017.

GPT Infraprojects advanced 1%. The company announced to bourses that it has bagged an order value of Rs 73 crore from Rail Vikas Nigam Ltd.

Uflex zoomed 5.6%. The company reported 17% rise in consolidated net profit to Rs 90 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 77 crore for July-September quarter in the year-ago period.

State Bank of India slipped 2% on the BSE. The bank said it will raise Rs 56.81 billion by issuance of preferential shares to the central government, its majority shareholder.

Amtek Auto Ltd
BSE 40.90 2.30 (5.96%)
NSE 40.80 2.10 (5.43%)

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ICICI Bank Rallies Post Q2 FY17 Numbers

ICICI Bank Ltd is currently trading at Rs 283.5, up by Rs 4.75 or 1.7% from its previous closing of Rs 278.75 on the BSE. The bank reported on a standalone basis its profit after tax was Rs 3,102 crore (US$ 466 million) for Q2 FY17 compared to Rs 2,232 crore (US$ 335 million) for Q1 FY17 and Rs 3,030 crore (US$ 455 million) for Q2 FY16.

The scrip opened at Rs 281.6 and has touched a high and low of Rs 287.4 and Rs 281.6 respectively. So far 13032821 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 162208.34 crore.

The bank posted Net interest income of Rs 5,253 crore (US$ 789 million) in the quarter ended September 30, 2016 (Q2 FY17) compared to Rs 5,251 crore (US$ 788 million) in the quarter ended September 30, 2015 (Q2 FY16).

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 291.5 on 25-Oct-2016 and a 52 week low of Rs 180.8 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs 280.95 and Rs 265.6 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 65.5 % and 9.13 % respectively.

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The stock is currently trading above its 50 DMA.

Results to watch out for! BHEL, Ashok Leyland, Bharat Forge, Indigo in focus

The results which are expected today are BHEL, Ashok Leyland, Bharat Forge, Indigo, Tata Communications, Insecticides (India), KEC International, MRPL,Mcleod Russel India,Bombay Dyeing, PTC India Financial Services, Repco Home Finance, Sml Isuzu,Wabco India, Nesco.

Themis Medicare, Jpt Securities,Thirani Projects, Kamanwala Housing Construction ,Transwarranty Finance, Kernex Microsystems (India), Ufo Moviez India,Khaitan Chemicals & Fertilizers ,Vandana Knitwear, Kiran Syntex , Vesuvius India, Kothari Petrochemicals, Vidli Restaurants, Kusam Electrical Industries, Vinyl Chemicals India, Ladderup Finance, Vishvaprabha Trading.

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Top 15 stocks in focus today: ICICI Bank, Future Retail, Britannia Industries

ICICI Bank: ICICI Bank reported net profit of Rs 3,102 crore for the quarter ended September 30, 2016 against Rs 3,030 crore in the corresponding quarter a year ago.

Britannia Industries: Britannia Industries posted a 5.8% rise in its consolidated net profit to Rs 234 crore in the quarter ended September 30, 2016 as compared to Rs 221 crore in the year-ago period.

IT stocks: IT stocks will be in focus today. Cognizant reported 11.8% in net profit to $444.4 million in the July-September quarter, but cut its annual revenue forecast for the third straight time this year.

Future Retail: Future Retail said it has agreed to buy the retail business of Hyderabad-based Heritage Foods Ltd, promoted by the family members of Andhra Pradesh chief minister N. Chandrababu Naidu, in an all-stock deal.

Ceat: Ceat registered 1.6% rise in consolidated net profit at Rs 107 crore for the quarter ended September 30. It had posted a net profit of Rs 105 crore in the same quarter last fiscal.

GlaxoSmithKline Consumer Healthcare: The company reported 16.62 per cent decline in standalone net profit at Rs 183.72 crore for the second quarter ended September 30, 2016. It had posted a standalone net profit of Rs 220.34 crore in the same quarter last fiscal.

Varun Beverages: Shares of Varun Beverages is going to list on bourses today.

GIC Housing Finance: The company said S Gopakumar, general manager with Oriental Insurance Company, has been appointed as managing director of the company. Warendra Sinha resigned as MD and CEO of the company following his elevation as whole time director of National Insurance Company.

Wipro: The company on Monday announced the launch of its Open Banking API (Application Programming Interface) Platform. The Open API platform, will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardisation of APIs.

Ashok Leyland: Ashok Leyland will announce its Q2 numbers today.

L&T: L&T-MHPS Boilers Pvt Ltd has signed a technology licence agreement for selective catalytic reduction systems with Mitsubishi Hitachi Power Systems Ltd.

Cyinet Ltd: The company has signed a definitive agreement with Blom ASA to acquire 100% stake in Blom Aerofilms.

Indigo: The airline company will announce its Q2 numbers today.

Bombay Dyeing: Bombay Dyeing will announce its Q2 numbers today.

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