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Wednesday, January 13, 2016

Stocks to Watch

Tata Consultancy Service: Tata Consultancy Service reported consolidated net profit of Rs. 6,083.39 crore for the quarter, registering decline of 0.02% qoq. The Company’s consolidated revenue stood at Rs. 27,364.01 crore, registering growth of 0.73% qoq.
Piramal Enterprises: Piramal Enterprises Ltd. has sold BST-CarGel, its cartilage repair product, to med-tech company Smith & Nephew, for an undisclosed sum, according to a business daily.
Radico Khaitan: HSBC Global Investments Funds reduced stake in liquor firm Radico Khaitan to 5.89%, according to reports. HSBC sold 8,52,192 shares of Radico Khaitan. 
Crompton Greaves: Avantha Group Company CG has been awarded a contract from Denmark’s national electricity transmission system operator to provide power transformers and Gas Insulated Switchgear (GIS) for the Kriegers Flak wind farm project in the Baltic Sea.
IndusInd Bank: The Bank has posted rise of 30% in its net profit of Rs. 581 crore for the quarter ended December 31, 2015 as compared to Rs. 447.2 crore for the quarter ended December 31, 2014. The bank has announced that it has partnered with PayU India to revolutionize Digital Banking & Payments.
Bajaj Auto: Bajaj Auto is undertaking test-runs of its proposed quadricycle 'Qute' in various cities, according to a business daily. The Pune-based company is test-running Qute to ascertain the challenges it may face on Indian roads, such as speed control and load handling, reports the financial newspaper.
Godfrey Phillips: Japan Tobacco (JT), the world’s third-largest listed tobacco company, is in talks to acquire a part of the promoter’s stake in Godfrey Phillips India (GPI), reports a business daily. The KK Modi Group, which owns ~47% in GPI, is also believed to be in talks with long-time partner Philip Morris International for a similar deal, according to the newspaper. 

State Bank of India: State Bank of India (SBI) plans to monetise non-core assets and list some of its subsidiaries to meet capital requirements as well as meet Basel-III norms, which will kick in from March 2019.
Oil & Natural Gas Corp:  ONGC plans to cut operational costs by at least 10% as oil prices trade at 12-year lows, according to a business daily. ONGC plans to hire a consultant to suggest cost cuts and controlling of operating expenditure, reports the daily.

Reliance Communications: The Department of Telecommunications (DoT) has asked Reliance Communications (RCom) to pay INR 5,384 crore for sharing its 800 MHz spectrum in 16 circles, reports a business daily. The spectrum liberalisation fee would apply to all circles where airwaves were not sold via auctions, adds the financial newspaper.
Coal India: Coal India Ltd. is making its biggest tech overhaul in four decades to check rampant theft as it gears up for the entry of private mining companies in the coal sector, reports a business daily.
DCB Bank: DCB Bank reported a 3% decrease in standalone net profit at Rs.41.2 crore for the third quarter that ended on December 31, 2015.The bank's total income has increased by 10.5% at Rs. 477.1 crore for the quarter against Rs. 404.5 crore in the corresponding quarter of the previous year.
IVRCL Ltd: The company has made an allotment of 1,94,375 equity shares of Rs.2/- each, at issue price of Rs. 24.39/- per share, on January 12, 2016 to SREI EQUIPMENT FINANCE LIMITED (CDR Lender) who have signed the Master Restructuring Agreement. This allotment is towards conversion of FITL into equity.
JSW Steel: Crude steel production dropped 15 per cent to 2.70 million tonne (MT) in October-December this fiscal due to planned shutdown of blast furnaces for capacity expansion. JSW Group had recorded 3.17 MT crude steel production in the third quarter of 2014-15. 
Federal Bank: The bank posted a 38.5 per cent drop in net profit at Rs. 162.7 crore for the third quarter ended December due to a rise in bad loans.The total income of the lender also came down to Rs. 2,086 crore during the quarter, from Rs. 2,090 crore in the year-ago period.
Omkar Speciality Chemicals Ltd: The company has received environment clearance for its Manufacturing Unit - V located in Ratnagiri, Maharashtra. 
Tata Power: Tata Power has raised Rs. 500 crore through unsecured redeemable, taxable non-convertible debentures (NCDs) on a private placement basis.
Jet Airways: The  company announced special inaugural fares for flights between India and Amsterdam, the airline's new European gateway, commemorating the commencement of its maiden flights to Amsterdam on March 27, 2016.
Amara Raja: Amara Raja Group has committed an investment of Rs.50 bn in Andhra Pradesh across business verticals such as electronics, auto, IT, energy and infrastructure.

Results: Karur Vysya Bank, Reliance Industrial Infrastructure, Everest Industries, Alpha Hi-Tech Fuel, Delta Leasing & Finance, Nalin Lease Finance, Neil Industries, Pawansut Holdings, Real Touch Finance and Suryaamba Spinning Mills.
Global Data: M2 Money Supply (YoY) (Dec)  CNY, Trade Balance (Dec) CNY, Exports (YoY) (Dec) CNY, Imports (YoY) (Dec) CNY, New Loans (Dec) CNY, President Obama speech  USD, Trade Deficit Government (Dec) INR, Inflation ex-tobacco (MoM) (Dec)EUR, Consumer Price Index (EU norm) final (MoM) (Dec)EUR, Consumer Price Index (EU norm) final (YoY) (Dec) EUR, Non-monetary policy's ECB meeting EUR, 10-y Bond Auction EUR, Consumer Price Index - Harmonized (YoY) (Dec) EUR, Consumer Price Index (YoY) (Dec) EUR, Industrial Production s.a. (MoM) (Nov) EUR, Industrial Production w.d.a. (YoY) (Nov)EUR, Consumer Price Index (YoY) (Dec) EUR, Consumer Price Index (MoM) (Dec) EUR, MBA Mortgage Applications (Jan 1) USD, Federal Reserve Bank of Boston President Rosengren Speech USD, EIA Crude Oil Stocks change (Jan 8) USD, Fed's Evans Speech USD, 10-Year Note Auction USD, Monthly Budget Statement (Dec)USD, Fed's Beige Book USD, Electronic Card Retail Sales (MoM) (Dec)NZD, Electronic Card Retail Sales (YoY) (Dec) NZD, Domestic Corporate Goods Price Index (MoM) (Dec) JPY, Domestic Corporate Goods Price Index (YoY) (Dec) JPY, Machinery Orders (MoM) (Nov) JPY
Trends in FII flows: The FIIs were net sellers of Rs. 5.41  bn in the cash segment on Tuesday. The domestic institutional investors (DIIs) were net buyers of Rs.1.41 bn as per the provisional figures released by the NSE.
Other news the media:
The Department of Telecommunications has raised a demand of Rs53.8bn from Reliance Communicationsliberalising its 800 Mhz spectrum in 16 circles, which it plans to share with Reliance Jio. (BL)
With oil prices slumping to 12- year low, Oil and Natural Gas Corp plans to cut operational cost by at least 10% by prioritising activities and putting off the less important ones to future. (ET)
Larsen & Toubro said its construction arm has won orders worth Rs12.5bn across business verticals. (BS)
SBI said it is planning to monetise non-core assets and list some of its subsidiaries for meeting capital needs as well as global risk norms, Basel III, which will kick in from March 2019. (ET)
Tech Mahindra said one of its investee companies has tied-up with Germany's SAP to develop a citizen platform in the UK. (BS)
NIIT Technologies has won Rs2.2bn deal from UK's communications regulator OfCom to manage its infrastructure and application systems over six years. (BL)
Bank of Maharashtra said it will raise Rs10bn by issuing Basel-III compliant bonds on a private placement basis. (ET)
Amara Raja Group has committed an investment of Rs50bn in Andhra Pradesh across business verticals such as electronics, auto, IT, energy and infrastructure. (BS)
Consumer Price Index-based inflation for the month of December rose to 5.61%, compared with 5.41% in November and 4.28% in December last year, official data showed. (BL)
In its first contraction in 13 months, India's industrial output in November declined 3.2% from the same month a year earlier, government data showed. (ET)
Maharashtra government suspended crushing licence of 12 sugar mills for not paying the fair and remunerative price (FRP) to farmers for cane crushed in 2014-15. (BS)
The ministry of road transport and highways had sanctioned road projects worth Rs400bn for Chhattisgarh. (ET)