Sensex today stocks in focus on april 27, 2018 grade 6 electricity unit plan


NEW DELHI: The domestic equity market is likely to open in the green on Friday, tracking firm global cues and Nifty on Singapore Stock Exchange (SGX). At 07:56 am, the Nifty50 futures of SGX were trading 37.50 points or 0.35 per cent higher at 10,654.

RIL: Telecom-to-energy giant Reliance Industries will announce its quarterly earnings on Friday. Apart from the expectations of another billion-dollar profit, investors will be looking out for key monitorables such as gross refining margin (GRM), petchem business margins, the progress on the remaining core expansion plans and the update on telecom venture. Petrochemical segment is expected to put up a good show, while all eyes will be on whether aggressive pricing, which helped the firm add a whopping 8.74 million customers in February, are here to stay.

Maruti: India’s biggest carmaker Maruti Suzuki is likely to post double-digit growth in bottom line as well as top line for the March quarter. Its results are coming up on Friday. Axis Capital has estimated an annual net profit and sales growth of 21 per cent and 14 per cent, respectively. Ebitda may go up 27 per cent.

Axis Bank: Axis Bank posted its worst quarterly earnings, declaring a loss of Rs 2,189 crore in the January-March period, as outgoing chief executive Shikha Sharma more than doubled provisions for bad loans in a bid to leave a cleaner balance sheet for her successor. Analysts had forecast a profit of Rs 660 crore, down from the year-earlier profit of Rs 1,225 crore. Earnings were released after the market closed with Axis Bank at Rs 494.55, down 0.8 per cent.

Biocon: Indian biotechnology major Biocon on Thursday posted around 2% increase in its net profit for the fourth quarter of the 2017-18 financial year. It posted a net profit of Rs 130 crore for the quarter ended March 31, 2018. The company had recorded a net profit of Rs 127 crore for the same quarter in the last fiscal year. Its total revenue for this quarter grew 27 per cent to 1,237 crore as compared to Rs 974 crore for the same quarter in the 2016-2017 financial year.

Bandhan Bank: The newly-listed bank is slated to release its March quarter results today. Kolkata-based private lender made a dream market debut exactly a month back, as the scrip got listed at Rs 499 on the NSE, a 33 per cent premium to the issue price of Rs 375. The stock also got listed on the BSE. On Thursday, shares of the company were trading at Rs 494.80 apiece on BSE, up 0.05 per cent.

SBI Life: The insurance company on Thursday reported 13.44 per cent year-on-year rise in profit at Rs 381.21 crore for the quarter ended March 31. The insurer had posted a profit of Rs 336.05 crore in the corresponding quarter last year. Net premium income increased 25.74 per cent to Rs 9,236.70 crore against Rs 7346.05 crore last year.

IDBI Bank: The Central Bureau of Investigation (CBI) said it has registered a criminal case against 15 former senior officials of IDBI Bank and 24 others, including Aircel founder C Sivasankaran and 11 companies and their respective directors, for allegedly defrauding the lender to the tune of Rs 600 crore. The agency carried out searches at as many as 50 locations in 10 cities including Delhi, Mumbai, Chennai, Faridabad, Gandhinagar, Bengaluru, Belgaum, Hyderabad, Jaipur and Pune in connection with the matter.

Bharti Airtel: UK’s Vodafone and Bharti Airtel may jointly negotiate a block sale of their combined 66.6 per cent controlling stake to a third-party, postclosure of the Indus-Bharti Infratel merger, with a mix of deep-pocket global investors such as KKR, Providence, Brookfield and American Tower Corp (ATC) as potential buyers, some analysts said.

MPS: Emkay Global has upgraded MPS to ‘buy’ from ‘accumulate’ and has a target price of Rs 840 on the stock. The acquisition of Tata Interactive Systems by MPS will improve overall growth prospects given the growth opportunity in the corporate learning business besides adding strong inorganic revenue run-rate. The retention of key members, focused business approach and improved global sales engine will result in strong business synergies. Shares of MPS ended up 16 per cent at Rs 676.7 on Thursday.

IDFC Bank: CLSA has maintained ‘buy’ rating on IDFC Bank and lowered target price to Rs 75 from Rs 90. IDFC Bank’s fourth quarter profit was lower than expected, with higher provisioning and tepid topline being the key drags. The firm lowered earnings/adjusted book value per share due to higher credit losses. Merger with Capital First should be consummated by Dec 2018 and should help scale up the retail lending business as well. Shares of IDFC Bank ended down 0.3 per cent at Rs 47.25 on Thursday.

Cyient: IT firm Cyient on Thursday said its European subsidiary has acquired semiconductor company AnSem of Belgium. Though the company officially did not disclose the value of the acquisition, sources close to the development said it was $17 million.

SBI: The country’s largest lender State Bank of India has reshuffled the portfolio of its top management: Padmaja Chunduru will now be in charge of SBI’s global treasury operations, while C Venkat Nageswar will be the new MD & CEO of SBI Capital Markets. Apart from rejigging its portfolio, SBI also promoted nine chief general managers to the deputy general manager rank late on Wednesday evening.

Jindal Stainless Hisar: The company on Thursday reported 59 per cent jump in its standalone net profit to Rs 96.11 crore for the the quarter ended March 31, 2018. The company’s standalone net profit stood at Rs 60.43 crore in the January-March quarter of the previous fiscal, 2016-17, JSHL said in a BSE filing.

Thermax: The company in its BSE filing said Thursday it has concluded a Rs 279 crore order from a leading public sector fertiliser company to set up captive cogeneration plant at Trombay, Maharashtra. The stock on Thursday settled nearly 1 per cent lower at Rs 1,130.50 apiece.