Citi on Tata Motors
Buy Call
Target Raised to Rs 395
--
UBS on Tata Motors
Neutral
Target Rs 360
--
CLSA on Tata Motors
Buy Call
Target Raised to Rs 450

Clsa on Tata Motors

Hikes price target from Rs 425 to Rs 450/sh

JLR: strong Ebitda as expectedandFCF surprises positively

India: stronger margin in CV and PV drive FCF improvement

Value the India business at Rs243/share and JLR at Rs209/share

Stock in news

Positive
Guj alkalies,Lnt,Itc,Ioc, Jswenergy,Hind copper,Hind tin, Ibullhsg,Tatamotor,Gipcl,Jslhissar,Astral,Ashokley.

Negative
Axisbk.

Nifty range 14900-15250

*SGX Nifty -61 pts (15090) from last trade 15151*

Nikkei -266 pts,
Hangseng clsd,
Now @6.52am.

Dow -267.13 pts ,Nsdq -75.41 pts, S&P -35.46 pts, Bovespa +42 pts , Ftse +1 pts , Dax -10 pts , Cac -13 pts , Crude @ $65.27 brl (-0.21), Brent @ $68.71 brl (+0.00) , Gold @ 1871.30 (+3.30), Silver @ $28.29 (-0.04), Euro @ $1.2223, JPY @ $108.86  INR @ 73.125

*Today's Corporate Action*
*19th May Ex Date*
GCCLINP
E.G.M.

IRBINVIT
Income Distribution (InvIT)

POWERINDIA
Dividend - Rs. - 2.0000

*Today's Key Results/Board Meetings*
*19-May-21*
ANGEL
Audited Results

CLNINDIA
Audited Results;
Final Dividend; General; Quarterly Results

ENDURANCE
Audited Results;
Final Dividend

GRAVITA
Audited Results

HERITGFOOD
A.G.M.; Audited Results; Final Dividend

IBULHSGFIN
Audited Results;
Interim Dividend; General

INDORAMA
Audited Results

INEOSSTYRO
Audited Results; Dividend

INNOVATORS
General

IOC
Audited Results;
Final Dividend

IRFC
General

JKTYRE
Audited Results; Dividend

KAYA
Audited Results

MANCREDIT
Audited Results;
Final Dividend

MANINFRA
Audited Results

MASFIN
Audited Results; Final Dividend; General; Quarterly Results

MORARJEE
A.G.M.; Audited Results

NIYOGIN
Audited Results; General

PRSMJOHNSN
Audited Results

RANEENGINE
Audited Results

REDEXPR
Audited Results;
Quarterly Results

RSSOFTWARE
Audited Results;
Quarterly Results

SHRIRAMEPC
Preferential Issue of shares

SINTEXPLAST
General

SMLISUZU
Audited Results

SRAMSET
Audited Results

TANLA
Audited Results; Employees Stock Option Plan; Final Dividend; General

TCIEXP
Audited Results; Final Dividend

TDPOWERSYS
Audited Results; Final Dividend; General

VISHNU
Audited Results; Dividend;
Quarterly Results

ZUARI
Audited Results

*Stock under F&O ban on NSE*
*19-May-21*
1BHEL
2CADILAHC
3NATIONALUM
4PNB
5SAIL
6SUNTV

*Good Morning*
• Jaguar Land Rover Owner Swings to Profit as China Sales Jump
• After Huarong Woes, India’s Bad Bank to Keep Tight Cap on Debt
• Fuel Exports From India Soar as Pandemic Slams Local Demand
• India Grapples With LNG Oversupply as Virus Dashes Demand
• India’s SUUTI Plans to Sell Up to 1.95% Stake in Axis Bank
• India CCI Approves Adani Buy of 25% More in Krishnapatnam
o CCI Approves Buying Yes AM & Yes Trustee by GPL Finance
• Global Funds Buy Net INR6.18B of India Stocks on Tuesday: NSE
o Domestic funds buy net 4.5b rupees of stocks
• Foreign Investors Sell Net INR13.6B of Indian Equities on May 17
• Foreigners Buy Net INR82.5B of Indian Equity Derivatives Tuesday
• Tauktae weakens as cyclonic storm but rains lash parts of Guj: PTI
• India’s mineral production up 6 pc in March: PTI
• Vijay Mallya loses bankruptcy petition amendment High Court battle in UK: PTI
• GSK Pharma India (GLXO): 4Q net income -90% y/y to 143.3m rupees vs. 1.38b; 4Q has exceptional charge 1.19b
• Sun Pharmaceutical (SUNP): Says LIC of India raises stake in co. to 7.03% from 5%
• Tata Motors (TTMT): 4Q net loss 76.1b rupees Vs. loss 98.94b Y/y; revenue +42% y/y to 886.3b; JLR swings to profit
• Torrent Pharma (TRP): 4Q net income +3.2% y/y to 3.24b rupees, beats est. 2.73b; revenue +1.6% to 3.24b
• Axis Bank (AXSB): SUUTI’s offer-for-sale at floor price of 680 rupees/shr

Asian markets are trading lower today tracking consolidation trends of the US markets which slipped on worries of Inflationary pressure overshadowing economic growth in post pandemic scenario.

Nikkei is trading 253 points lower
HongKong markets are closed for public holiday
SGX Nifty is trading 77 points lower

*🔹Business Standard:*


Ø  Importers to make prior disclosure to customs to avail concessional duty on goods: CBIC

Ø  Real estate developers expect recovery in H2 2021

Ø  Indian firms show deteriorating business performance in Q4 of FY21: Report

Ø  CESL to procure 300 electric vehicles from Tata Motors

Ø  HC asks FRL to respond to Amazon's plea to enforce emergency arbitrator's award

Ø  BlackSoil Capital exits 15 investments with 18% returns in FY21

Ø  Govt to sell nearly 2% SUUTI stake in Axis Bank, may get Rs 3,969 cr

Ø  Tata Motors reports surprise loss of Rs 7,605 cr in Q4; revenue up 42%

Ø  Walmart beats Street estimates for sales on stimulus spending boost

Ø  Oil hits $70 for first time since March 15 as Europe, US re-open economies

Ø  CCI approves sale of YES Bank's MF subsidiaries to GPL Finance

Ø  Canara Bank reports Q4 profit at Rs 1,011 crore on lower provisioning

Business Line

 

*Mint :*


Ø  Finance Ministry hopes pent-up demand to boost recovery this fiscal

Ø  AT&T to merge WarnerMedia and Discovery in $43-b deal

Ø  Gland Pharma Q4 net profit up 34% to ₹260 crore

Ø  Brigade Enterprises posts ₹19.58-cr Q4 profit

Ø  CCI approves APSEZ buying residual stake in Krishnapatnam Port

Ø  Torrent Pharma Q4 net up 3 per cent at ₹324 crore

Ø  Vijay Mallya loses bankruptcy petition amendment High Court battle in UK

Ø  Ujjivan Small Finance Bank Q4 net jumps 86% to ₹136 crore

Ø  Morgan Stanley sees Sensex at 61,000 by Dec, earnings to rise 37% in FY22

Ø  Infosys, Majesco collaborate to accelerate digital experience for insurers

Ø  China bans financial, payment institutions from cryptocurrency business

Financial Express

 

*Business World :*


Ø  Indian IT & Business Services market grows 5.41% to $13.4 bn in 2020: IDC

Ø  Moglix joins unicorn club with fresh $120-million fundraise

Ø  Adar Poonawalla Exits Panacea Biotec; Sells Entire Stake For Rs 118 Crore

Ø  Sensex, Nifty Spurt To 2-Month Highs On Decline In Fresh COVID-19 Cases

GM jsk stock in news guj alkalies,lnt,itc,ioc, jswenergy,hind copper,hind tin, ibullhsg,piind,tatamoto,gipcl,jslhissar,astral,ashokley. Negative stocks axisbk. Nifty range 14925-15225.

Money Market Update

The rupee ended at 73.04 against the U.S. Dollar on Tuesday as compared to Monday's closing of 73.21.

Who's Meeting Whom

Ambuja Cements: To meet ENAM AMC on May 19.

Craftsman Automation: To meet HSBC Global on May 20.

Trading Tweaks

Ex-Date Income Distribution: IRB InvIT Fund

Ex-Date Dividend: ABB Power Products and Systems India

Record Date Interim Dividend: Coforge, Caplin Point Laboratories, Sundram Fasteners

Record Date Amalgamation And Spin Off: Meghmani Organics

Price Band Revised From 20% To 10%: Ebixcash World Money India, Gateway Distriparks

Move Into Short-Term ASM Framework: Chambal Fertilizers & Chemicals, Ebixcash World Money India, Best Agrolife, Hester Biosciences

Move Out Of Short-Term ASM Framework: EID Parry India, Dish TV India, R Systems International, Indraprastha Medical Corporation

Pledge Share Details

Jindal Steel & Power: Promoters (OPJ Trading and Gagan Infraenergy) revoked pledge of 58 lakh shares between May 11-17. Promoter Opelina Sustainable created a pledge of 31 lakh shares between May 11-12.

Solara Active Pharma Sciences: Promoters (Pronomz Ventures LLP and Chayadeep Ventures LLP) revoked pledge of 23,80 lakh shares between April 7 and May 17.

Stocks To Watch

Axis Bank: Specified Undertaking of the Unit Trust of India to sell 1.95% of the bank's equity through an Offer for Sale. The initial plan is for the sale of 3.60 crore shares or 1.21% of the total equity with a greenshoe option to sell another 2.20 crore shares or 0.74% of the total equity. The floor price of Rs 680 per share is at a 4.48% discount to Tuesday's closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.

JSW Energy: The wholly-owned subsidiary of the company, JSW Hydro Energy, has raised $707 million by allotment of dollar-denominated senior secured notes.

Infosys, Majesco: Announced strategic collaboration to help joint customers accelerate their digital transformation journey, enabling them to unlock new opportunities, address the demand for personalised customer experiences, operational effectiveness, and digital adoption across the insurance business value chain.

Canara Bank: Confident of Rs 15,000 crore recovery this year, said CEO Lingam Prabhakar during a conference call.

Kirloskar Oil Engines: Suspended operations at main Kagal Plant, Kagal Plant-II and KMW Kagal Plant-III in Kolhapur to comply with District Collector's covid order. The plants will remain shut between May 18-23.

World Markets

Dow - 267
Nasdaq - 75
Dax - 10
Nikkei - 270
Hangseng Closed
Sgxnifty - 62 (15089)
Brent Crude 68.19
Dow Fut - 45
Dollar Index 89.78

Hester Biosciences partners with Gujarat Government & OmniBRx for manufacturing COVID vaccine https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/18345/Hester-Biosciences-partners-with-Gujarat-Government-OmniBRx-for-manufacturing-COVID-vaccine#.YKK0e3vwrfU.whatsapp

Kolte Patil zooms nearly 2 per cent on securing two new projects in Pune https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/18350/Kolte-Patil-zooms-nearly-2-per-cent-on-securing-two-new-projects-in-Pune#.YKK0PTnWWv4.whatsapp

Aarti Ind
- Announces 1:1 Bonus for shareholders

- Also announces 3/sh Dividend (1.5 Ex-Bonus)

- Will also raise 1500 Cr via QIP and issue of Warrants!

Sources to CNBC Awaaz

*SUUTI likely to sell stake in Axis Bank*

*SUUTI likely to sell nearly 4 crores shares in Axis Bank*

*SUTTI likely to sell stake via OFS route, awaiting board approval*

SUUTI plans to sell stake in Axis Bank Worth Rs 2500-3000 crore

Bankers approach funds for interest in OFS

*Alert: SUUTI holds 3.45% stake in Axis Bank as of 31st March*

*Ester Industries Ltd.* | *CMP* Rs. 151 | *M Cap* Rs. 1259 Cr | *52 W H/L* 159/27
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 297 Cr (16.2% QoQ, 17% YoY) vs QoQ Rs. 255.7 Cr, YoY Rs. 253.9 Cr
EBIDTA came at Rs. 58.8 Cr (6.4% QoQ, 15.6% YoY) vs QoQ Rs. 55.2 Cr, YoY Rs. 50.8 Cr
EBITDA Margin came at 19.8% vs QoQ 21.6%, YoY 20%
Adj. PAT came at Rs. 33.9 Cr vs QoQ Rs. 32.9 Cr, YoY Rs. 36.9 Cr
Quarter EPS is Rs. 4.1
Share is trading at P/E of 8.9x TTM EPS

*Jindal Stainless (Hisar) Ltd.* | *CMP* Rs. 180 | *M Cap* Rs. 4247 Cr | *52 W H/L* 193/37
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 2758.5 Cr (-2.2% QoQ, 35.9% YoY) vs QoQ Rs. 2822 Cr, YoY Rs. 2030.3 Cr
EBIDTA came at Rs. 364.1 Cr (3.8% QoQ, 109.6% YoY) vs QoQ Rs. 350.7 Cr, YoY Rs. 173.7 Cr
EBITDA Margin came at 13.2% vs QoQ 12.4%, YoY 8.6%
Adj. PAT came at Rs. 209.5 Cr vs QoQ Rs. 182.1 Cr, YoY Rs. 99.2 Cr
Quarter EPS is Rs. 8.9
Share is trading at EV/EBITDA of 6.2x Trailing EBITDA

*PI Industries Ltd.* | *CMP* Rs. 2709 | *M Cap* Rs. 41101 Cr | *52 W H/L* 2734/1426
(Nirmal Bang Retail Research)
*Result below expectation*
Revenue from Operations came at Rs. 1197.1 Cr (3% QoQ, 40% YoY) vs expectation of Rs. 1120.7 Cr, QoQ Rs. 1162.1 Cr, YoY Rs. 855.2 Cr
EBIDTA came at Rs. 227.3 Cr (-17.5% QoQ, 22% YoY) vs expectation of Rs. 254.8 Cr, QoQ Rs. 275.5 Cr, YoY Rs. 186.3 Cr
EBITDA Margin came at 19% vs expectation of 22.7%, QoQ 23.7%, YoY 21.8%
Adj. PAT came at Rs. 179.8 Cr vs expectation of Rs. 188.8 Cr, QoQ Rs. 195.4 Cr, YoY Rs. 110.7 Cr
Quarter EPS is Rs. 11.9
Share is trading at P/E of 44.8x FY22E EPS