Stocks in the news: Lakshmi Vilas Bank, Titan, IB Housing Finance, Maruti Suzuki and Axis Bank

NEW DELHI: Nifty futures on the Singapore Exchange were trading 16 points, or 0.14 per cent, higher at 11,701, indicating a positive start for the Nifty50. Here are a few stocks which may buzz the most in today’s session:

IB Housing Finance, LVB: The boards of Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance are set to meet this week to consider a proposal to merge the old private sector bank with the home finance company.

Maruti Suzuki: The country’s largest car maker cut vehicle production by around 21 per cent across its factories in March due to subdued demand. The auto major produced a total of 1,36,201 units in March, it said in a regulatory filing.

Titan Company: The jewellery maker is targeting an overall 20 per cent growth in FY20 despite the muted outlook for the economy. The March quarter performance was on expected lines and jewellery division grew by just over 22 per cent in FY 19, the company said.

Axis Bank: The lender has terminated more than 50 mid-level managers as it restructures its business and cuts cost under a new chief executive. As executive vice-presidents and vice-presidents, the affected officials led various supervisory functions in corporate and retail banking.

JSW Steel: India's biggest maker of the alloy is set to raise $500 million by selling dollar bonds, ending a year-long wait for garnering debt funds overseas.

GMR Infra: GMR Airports, a stepdown subsidiary of infrastructure conglomerate GMR Infrastructure, raised $300 million through a bond issue in the international market to part fund an expansion plan to nearly triple passenger handling capacity at Hyderabad International Airport.

Cipla: Pharma major Cipla said it has received an establishment inspection report (EIR) from the US health regulator after inspection of its Goa facility.

PVR: The companyhas signed deals with CJ 4DPLEX, the world's leading cinema technology company, and D-BOX Technologies, a world leader in immersive motion entertainment experiences, to open 10 ScreenX theatres and install 400 D-BOX seats across 9 cinemas in India.

Britannia Industries: Food company Britannia Industries said it has raised Rs 500 crore through issuance of commercial paper.

Magma Fincorp: The NBFC is eyeing an asset growth of around Rs 3,000 crore in the 2019-20 fiscal, a top official of the company said on Thursday.

Hindustan Copper: The state-owned firm said provisional copper ore production for the 2018-19 fiscal stood at 41.22 lakh tonnes, 12 per cent higher than that of last year.

Vedanta: Moody's Investors Service has assigned B2 rating to Vedanta's proposed senior unsecured notes and said the outlook was negative.

BOARD MEETINGS

IPO WATCH
Polycab India: The largest manufacturer of wires and cables in terms of revenues will kick off its Rs 1,345 crore IPO on Friday. The company said it successfully raised Rs 401 crore from 25 anchor investors. The price band of the issue is fixed at Rs 533-538.

Metropolis Healthcare: The Rs 1,204 crore initial public offer (IPO) was subscribed 47 per cent on the second day of the issue on Thursday. The IPO received bids for 35,73,400 shares against the total issue size of 76,61,802 units, NSE data showed.

ANALYST CALLS
• Elara Capital has reiterated its buy rating on Parag Milk Foods with a target price of ₹366. The brokerage expect 18% sales growth in FY19-21, led by high double digit growth in value added dairy (VAD) and distribution expansion in the north and east regions. The stock is currently trading at PE of 15 times and EV/EBITDA of 8 times its FY20 estimated earnings.

• Sharekhan has upgraded its rating on Federal Bank to buy with a revised target price of ₹110. Bank’s efforts to diversify its income source by investments in related businesses, adding new streams to fee and other income are bearing fruits, albeit slowly, said the brokerage. The stock is currently trades at 1.2 times its FY 2021 estimated book value, which is attractive, according to Sharekhan.

• Motilal Oswal has maintained its buy rating on Amara Raja Batteries with a price target of ₹861. While the industry structure remains largely duopoly, the company has emerged as a formidable challenger to leader EXIDE, with a market leadership in telecom and UPS segments, and a fast gaining share in autos, said the brokerage.

• SBICAP Securities recommend hold rating on Dabur with a target price of ₹500. We like Dabur as diversification not only makes it safe and less vulnerable to sudden competitive, regulatory, inflationary and growth issues in any category but also ensures stable growth, said the brokerage.

• Reliance Securities has recommended buy rating on Maruti Suzuki with target price of ₹7,750, valuing the stock at 21 times FY21 estimated EPS. Maruti has been banking on success of its new launches and the brokerage expects increase in first time buyers from healthy rural demand post election amid government’s rural focus.

Insider Buys:

• Goldiam International Limited: Anmol Rashesh Bhansali has bought 26,572 shares through Market Purchase on Apr 2, 2019.
• Grasim Industries Limited: Grasim Employees' Welfare Trust has bought 59,559 shares through Market Purchase on Mar 28, 2019.
• Jindal Stainless Limited: Abhyuday Jindal has bought 60,000 shares through Market Purchase from Mar 29, 2019 to Apr 1, 2019.
• Onward Technologies Limited: Onward Network Technologies Pvt Ltd has bought 35,000 shares through Market Purchase on Apr 3, 2019.
• Piramal Enterprises Limited: Dr. (Mrs.) Swati A. Piramal has bought 31,325 shares through Off Market on Mar 29, 2019.
• Reliance Communications Limited: Dhwani Enterprises Llp has bought 7,00,000 shares through Off Market on Mar 28, 2019.
• Reliance Communications Limited: Guruvas Commercials Llp has bought 7,00,000 shares through Off Market on Mar 28, 2019.
• STL Global Limited: Rita Aggarwal has bought 1,10,354 shares through Market Purchase from Mar 22, 2019 to Mar 30, 2019.

Insider Sells:

• ITC Limited: C. P. Modi has sold 27,670 shares through Market Sale on Mar 29, 2019.
• ITC Limited: Rajkumar Rathinavelu has sold 16,640 shares through Market Sale on Oct 3, 2018.
• ITC Limited: Shatanshu Panda has sold 70,000 shares through Market Sale on Mar 29, 2019.
• ITC Limited: Sudhir Gupta has sold 45,000 shares through Market Sale on Mar 29, 2019.
• Kesoram Industries Limited: Jayashree Mohta has sold 65,078 shares through Market Sale on Apr 1, 2019.
• Mangalam Cement Limited: Manav Investment & Trading Co. Ltd has sold 11,00,000 shares through Market Sale on Mar 29, 2019.
• Opto Circuits (India) Limited: Thomas Dietiker has sold 70,000 shares through Market Sale from Mar 12, 2019 to Mar 22, 2019.
• Power Finance Corporation Limited: President Of India(Acting Through Ministry Of Power, Goi) has sold 5,21,46,026 shares through Off Market on Mar 25, 2019.
• Reliance Communications Limited: Shreeji Comtrade Llp has sold 7,00,000 shares through Off Market on Mar 28, 2019.
• Reliance Communications Limited: Shrikrishna Tradecom Llp has sold 7,00,000 shares through Off Market on Mar 28, 2019.
• Vodafone Idea Limited: Kamal Sharma has sold 41,000 shares through Market Sale on Mar 28, 2019.
• Vodafone Idea Limited: Sashi Shankar has sold 91,169 shares through Market Sale on Mar 28, 2019.
• Vodafone Idea Limited: Vinu Verghese has sold 57,500 shares through Market Sale from Mar 26, 2019 to Mar 29, 2019.
• Yes Bank Limited: Sumit Gupta has sold 1,00,000 shares through Market Sale from Mar 27, 2019 to Mar 29, 2019.

Note: Disclosure made under Reg 13(4), 13(4a) of SEBI (IT) regulations 1992.

Bulk and Block Deals :
Source: Edelweiss Alternative Research