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Last Updated : Mar 29, 2016 08:49 AM IST | Source: CNBC-TV18

Here's why ITC, IGL, Titan and telecom stocks are in limelight

Stocks likely to be in focus are: ITC, Indraprastha Gas, IDBI Bank, Bharti Airtel, Idea Cellular, Titan Company, Wipro, Cupid, CMI, Jagatjit Industries, Housing Development Finance Corporation, IndusInd Bank.

Delhi Budget impact on ITC: Third state which did not increase VAT on cigarettes. No VAT increase seen in Maharashtra and Karnataka Budgets either. FY17 likely to be one the lowest VAT hikes seen by company in the past 5 years.

Delhi Budget impact on IGL: No increase of VAT on CNG. UBS holding an analyst conference today with management.

IDBI Bank: IDBI Bank
sells 15.8 crore shares to LIC - equivalent to 7.16 percent stake. Earlier, LIC held 7.21 percent stake (13.7 crore shares). After acquisition, LIC's stake in IDBI Bank goes up to 14.37 percent or 29.5 m shares. Government persistign with privatisation of IDBI.

Bharti and Idea in focus: Credit Suisse note visits to Reliance Digital Stores suggest soft launch likely soon. Store staff have undergone training sessions for sale of sim cards. Store staff have undergone training sessions for enrolling customers. Staff has received stocks of JIO sim. Store staff not informed when sales will start. JIO sim available for `200; Includes free data & voice for 3 months for soft launch.

Titan: Titan sees subdued Q4 growth outlook and flat margins for jewellery division. CLSA view is growth focus in long term but short-term challenges remain. Cautiously optimistic for FY17. Retain Sell with a Target of Rs 295. Remain 7-10 percent below consensus. 

Wipro: Wipro announces a 5-year tie-up with Jubilant Food. Wipro to provide energy management services. It will help reduce energy and operational costs of Jubilant Food. Size of the deal not known.

Cupid and CMI: BSE suspends trading in 31 companies w.e.f. Thursday March 31. BSE suspends trading via notice number 20160304. GMO-controlled funds bought more than 10 percent stake in CMI via open market in January 2016.

Jagatjit Industries: KKR to extend Rs 300 crore for restructuring. KKR financing expected to rejig brands, streamline portfolio and clear short-term loan. Deal could be significant given company's market cap of Rs 266 crore. 

Other stocks in focus are HDFC and IndusInd bank.

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First Published on Mar 29, 2016 08:37 am
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