Stocks in the news: Infosys, HEG, Lumax Auto, Karnataka Bank, Kamdhenu, Mastek, IGL

Here are stocks that are in the news today:

IPO: Metropolis Healthcare opens for subscription on April 3. It is an offer for sale by promoters, which will close on April 5. The price band for the IPO has been fixed in the range of Rs 877-880 per equity share.

Marico: Company sees improved operating margin in Q4 on easing costs, and sees stable demand in Q4 and healthy growth in offtake.

Indraprastha Gas gets authorization for development of CGD network

Infosys: Subsidiary gets order from Kuwait’s Ahli United Bank for automation services.

Surana Telecom and Power: Company divested the 100 percent of equity stake held in Globecom Infotech Private Limited, wholly owned subsidiary.

DB Realty: In respect of creation of pledge on 77.5 lakh equity shares of DB Realty which were pledged by one of the promoters with Anand Rathi Global Financial Ltd. (lender) in connection with financial facility of Rs 6.00 crore given by the said lender to LLP.

SREI Infra to raise up to Rs 1,500 crore via issue of NCDs

TCS BaNCS for Core Banking has been successfully deployed at Harbin Bank, a full-service commercial bank in China

Wipro completes divestment of Wipro's Workday and Cornerstone Ondemand business

Board to consider Q4 results on April15-16 and recommendation of final dividend

HUDCO achieved loan sanctions of Rs 34,453.8 crore and loan releases of Rs 31,008.6 crore for the financial year 2018-19.

Biocon to sell and transfer drug substance business for Rs 33.3 crore

Mahindra Lifespaces' CFO Jayant Manmadkar resigns

Rushil Decor - GPCB allow comapny to operate Laminate sheet manufacturing unit at Gandhinagar upto July 01, 2019 as per conditions stipulated therein

Forbes & Company: Company handed over 50 percent of the business undertaking in project Vicinia to Paikar Real Estates Private Limited towards completion of the transaction.

Mastek: Company appointed Dennis Badman as chief business officer of Mastek Group.

Jet Airways: Company makes new roster for Boeing 737 pilots from April 11-26 - CNBC-TV18 Sources.

Lumax Auto Technologies closed its PCB manufacturing unit in Haryana from April 1

HEG board approved proposal to increase the stake of HEG in Bhilwara Energy from 29.48% to 49%

Karnataka Bank: Bank ties up with Bharti Axa Life Insurance company for life insurance business.

Magadh Sugar & Energy: CARE revised company's rating on long term bank facilities to BBB+:Stable, from A-:Negative.

Geetanjali Credit and Capital: Paresh G Patel, Managing Director of the company resigned.

Goa Carbon: Dara P Mehta resigned as Non- Executive Independent Director of the company.

Arvind Fashion's CFO Kannan Soundararajan resigns w.e.f. April 2

Virtual Global Education: Kamal Poddar Kishor has resigned from the post of the Chief Financial Officer of the company.

Kamdhenu: Company installed all requisite machinery for increase of capacity of its steel plant at Bhiwadi, Rajasthan from 72,000 MT to 1,56,000 MT per annum.

JK Tyre - India Ratings revises long term rating revised from IND A+ to IND A

Mcleod Russel - ICRA revised long term rating from ICRA AA- to ICRA A

Essel Propack received an amount of Rs 30.7 crore towards repayment of outstanding dues of Inter corporate deposit.

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Source: Moneycontrol

30 stocks fall 60-90% from their record highs. Do you own any?

Stocks of 30 companies from the BSE universe fell 60-92 percent from their all-time highs as on February 22, 2019. Out of 399 stocks that have m-cap of more than Rs 1,000 crore in the BSE universe, 397 were trading below their respective all-time highs.

Companies with market cap higher than Rs 1,000 crore and whose stocks touched record highs since start of 2018 were considered for this story.

Top 30 stocks fell 60-92 percent from their all-time highs and the rest 180 plunged 30-60 percent from their record highs.

The list of 30 stocks include Vakrangee, PC Jeweller, Arvind, DHFL, Bhansali Engineering, LT Foods, Indiabulls Integrated, Tejas Networks and Dilip Buildcon.

In 2019 so far, benchmark indices have not been able to give positive returns to the investors. And some stocks are down many-folds.

Even the year 2018 proved to be lacklustre in terms of returns from the stock market.

"For the first time in the last 4 years, the mid and the smallcaps are readily available below their historical average P/E ratios of 18.52x and 16.53x, respectively. Lot of midcaps corrected sharply on the back of technical factors like higher margins, selling of promoter stake increase in promoter pledges that impacted the price performances of these stocks etc," Mayuresh Joshi, Fund Manager at Angel Broking told Moneycontrol.

Vineeta Sharma, Head of Research at Narnolia Financial Advisors said for the past few quarters, largecap stocks are reporting numbers better than mid and smallcaps.

Also, results of such companies have been very volatile owing to volatility in commodity prices, trade tensions and GST implementation, she added.

Analyzing around 2,000 companies, Q3FY19 results suggest that high cap companies' sales and margins have been outperforming mid-cap peers, she said.

The median sales of high cap companies grew by 16 percent and net profit grew by 10.2 percent while for mid and small cap companies, sales grew by 12.5 percent YoY while net profit grew by 6.3 percent.

After sharp correction in these stocks, what investors should do?

Siddharth Sedani, Vice President - Equity Advisory, Anand Rathi Shares and Stock Brokers

Cooling valuations has skewed the risk-reward gauges in favour of some stocks. Of the 500-odd stocks with a market cap of Rs 1,000-8,000 crore, as many as 230 stocks have tanked more than 30 percent since the turn of the year. Sixty stocks have lost more than 50 percent of their value.

The global nature of the equity-market correction is corroborated by the fact that most domestic fundamentals in India are robust. The correction may have opened up opportunities but investors should be mindful of their asset allocation.

If you find that your portfolio is light in this segment, then use the correction as an opportunity to shore up your presence in small-cap funds. While this segment is prone to high volatility, sharp corrections provide an ideal opportunity to invest as then the risk-return profile is more in your favour.

We expect the market to re-calibrate and assume a clear direction only on the outcome of the forth-coming general election becoming clear. In the meanwhile, the broad market is likely to be in a consolidation mode, though with heightened volatility.

Vineeta Sharma, Head of Research at Narnolia Financial Advisors

We expect the volatility in earnings to continue for 2019, though companies, where return on equity exceeds the cost of capital with lesser leverage in books, may be chosen for bottom-up research for investing purposes.

Sameer Kalra, Founder & President (Research), Target Investing

It is right time to identify the investable mid cap & small cap stocks which can be filtered on certain criteria such as debt free or only debt for capacity expansion, high cashflow companies, technology, moat and pricing power.

These are basic criteria which have no relation with stock prices which is mostly down in these companies cause of selling by HNIs and MFs which returns in positive environment which makes a 3x-5x return in bull markets.

Till elections mid cap & small caps will underperform Nifty50 as the incremental flows will be allocated to large caps and to some portion will be allocated to rest stocks.

But post elections there would be reversal as the outcome will get adjusted to the expectations and quarterly results will be on low base of December 2018 and onwards.

A K Prabhakar, Head -Research, IDBI Capital

There are many stocks which are very attractive in value terms and we are recommending our clients to buy on staggered manner as we expect good returns in next 18-24 months.

To name a few Mahindra Holidays, Bharat Electronics, Sun TV Network, Gujarat Alkalies, GSFC, Cyient, BSE Limited, Tata Elxsi, Gujarat Gas, ICICI Prudential, Federal Bank, JK Paper, MM Forgings.

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Source: Moneycontrol

Stocks in the news: Max India, Allahabad Bank, Corporation Bank, GMR, United Bank, Bharat Financial

Here are stocks that are in the news today:

Results on February 27: Metalyst Forgings, Nitin Fire Protection, Rain Industries, Vesuvius India, KSB, Merck.

Max India: Board approves selling 51 percent stake in Max Bupa Health Insurance for Rs 510 crore to True North. Enterprise value Rs 1,001 crore and company to complete Max Bupa stake sale in FY20.

BSE Limited: SP Kothari resigns as shareholder director to join Securities Exchange Commission, Washington.

PSU Banks: RBI removes Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from Prompt Corrective Action framework.

Greycells Education: American University of Ras Al-Khaimah (AURAK) has entered into a partnership with EMDI - Dubai, a wholly owned subsidiary of the company.

Future Retail: CARE reaffirmed A1+ rating for company's commercial paper.

MCX: Board of directors recommended the name of P S Reddy as the MD & CEO and a KMP of the Exchange to SEBI for seeking its approval.

Central Bank of India: Capital Raising Committee of the bank approved raising of equity capital by issuance and allotment of, upto 68,72,48,322 equity shares at the issue price of Rs 37.25 per share, aggregating to Rs 2,560 crore to government on preferential basis.

GMR Infrastructure: GMR Airports emerges as the highest bidder for greenfield airport at Bhogapuram in Andhra Pradesh.

ONGC: Its arm, Mozambique partners in LNG pact with Tokyo Gas & others.

IFCI: CARE cuts company's long term rating to BBB and downgraded NCD ratings to A- from ABBB+.

MRF: Workers call off strike at Chennai’s Tiruvottiyur plant.

Unichem Labs: Company filed plea with European Union court of justice versus general court order which upheld fine on company in Perindropil case.

Tata Steel: Board approves raising fund up to Rs 5,000 crore via NCDs.

Majesco: Company completed its previously announced rights offering pursuant to which 6,123,463 shares of Majesco's common stock will be issued, resulting in gross proceeds to Majesco of approximately $43.5 million.

United Bank of India: CRISIL has downgraded its ratings from A to A- / Stable for Rs 300 crore Tier I perpetual bonds (under BASELII), from AA- to

A+ / Stable for Rs 209 crore lower Tier II bonds (under BASELII) and from AA- to A+ / Stable for Rs 1,490 crore Tier II Bonds (under BASELIII).

Bank of Maharashtra: Board approved the proposal of raising of equity capital upto Rs 205 crore by way of issue of equity shares to Government on preferential basis.

Panacea Biotec: Board approved one time settlement with the consortium of lenders of the company; raising of funds through issue of listed/unlisted, secured/unsecured redeemable non-convertible debentures, aggregating upto Rs 864 crore; demerger of real estate business; raising of funds through issue of warrants by issuing up to 71,11,111 warrants of Rs 180 each, exercisable into equal number of equity shares of face value of Re 1 each of the company on a preferential basis amounting upto Rs 128 crore; and transfer of the pharmaceutical formulations business to a wholly owned subsidiary (to be incorporated), as a going concern.

Time Technoplast: Company and Confidence Petroleum India joined hands to give new thrust for making LPG available across India in blast proof composite cylinders.

Bharat Financial Inclusion: Company assigned a pool of receivables of an aggregate value of Rs 1,217.80 crore to one of the largest private sector banks on a direct assignment basis. With this transaction, the company has completed Direct Assignment transactions worth Rs 6,666.20 crore in FY19.

Share India Securities: Board approved the migration of the company from BSE SME platform to Main Board of BSE Ltd.

Sanofi India December Quarter: Profit rises to Rs 79.3 crore versus Rs 76 crore; revenue jumps to Rs 726.4 crore versus Rs 670.4 crore YoY. Board of Directors approved recommendation for payment of final dividend of Rs 66 per share for the year ended December 2018.

Maruti Suzuki: Company and Delhi Police joined hands for launch of automated red light violation detection and speed violation detection system.

HDFC Asset Management Company: Board approved payment of interim dividend of Rs 12 per share of Rs 5 each for the financial year ending March 2019.

Elantas Beck India Q3: Profit increases to Rs 14.35 crore versus Rs 14.15 crore; revenue rises to Rs 111 crore versus Rs 98.83 crore YoY. Board recommended payment of dividend of Rs 4.50 per share of Rs 10 each for the year 2018.

Action Construction Equipment: National Company Law Tribunal approved the Scheme of Amalgamation.

Indian Overseas Bank: Board approved the issue of equity shares on preferential basis to government for the capital infusion of Rs 3,806 crore received for financial year 2018-19.

Monte Carlo Fashions: Special resolution passed by the shareholders through postal ballot approving the buy-back of equity shares.

S Chand and Company: Company along with subsidiary Eurasia Publishing House acquired the remaining stake of 26 percent in Chhaya Prakashani and Chhaya has become the wholly owned subsidiary of the company.

Union Bank of India: Board of Directors approved the issue of 52,15,62,658 new equity shares on preferential basis to the government for an amount aggregating upto Rs 4,112 crore.

Wipro: NSE said on account of bonus issue in the ratio of 1:3, the adjustment factor for the corporate action shall be 1.3333 and the ex-date for the

corporate action shall be March 6.

Out of F&O ban: Allahabad Bank.

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Source: Moneycontrol

Stocks in the news: Bharti Airtel, Lupin, Mastek, Corporation Bank, Thermax, PC Jeweller

Here are stocks that are in the news today:

Results on February 26: Richa Industries, Sanofi India, Elantas Beck, Shailja Commercial

Emco: Sanjay Bhatnagar tenders his resignation as Independent Director and resigned from all memberships of committees of company.

Lupin: Company receives USFDA approval for Methylprednisolone tablets.

Mastek: IDFC AMC Limited (investment manager of IDFC Mutual Fund) through its various schemes additionally acquired equity shares in company to the extent of 0.0225 percent which has resulted in holding upto 5.0223 percent of the paid up capital of the company.

HIL: India Ratings & Research assigned long term credit rating as AA- with stable outlook for loan facilities worth Rs 276 crore:

Antel and Tata Communications build new cloud-based network for mobile and IoT providers.

Corporation Bank board has approved the proposal of capital raising plan to the extent of Rs 12,500 crore

Bharat Forge clarified that it has signed a Memorandum of Understanding (MoU) with Bharat Electronics (BEL) on February 21, 2019 at Aero India Show, 2019, Bengaluru

Indostar approved issue of NCD worth Rs 150 crore on private placement basis

Bliss GVS board approved the increase of Foreign Portfolio Investors/Foreign Institutional Investors limits from 24% to 74% in the compa

Lakshmi Vilas Bank: Brickwork Ratings India revised the rating from BBB+ to BBB- (Credit watch with Developing Implications) for unsecured redeemable non-convertible subordinated lower Tier II Bonds - Series VII (Option B) of Rs 50.50 crore.

Hi-Tech Gears: Vijay Mathur has tendered his resignation from the post of Chief Financial officer. However, he will continue to act as Senior General Manager (Finance). Dinesh Chand Sharma has been elevated to the post of Chief Financial Officer.

Corporation Bank: Board approved the proposal of capital raising plan to the extent of Rs 12,500 crore by way of either issue and allotment of equity shares on preferential basis or by way of additional tier 1 Bonds or Tier II Bonds or follow on public issue or rights issue or qualified institutions placement or issue and allotment of equity shares on preferential basis to Government of India or debt issue or in combination of these thereof.

Thermax: Company has entered into definitive agreement with Mutares Holding-24 AG, Germany and Balcke-Duerr GmbH, Germany, JV partners of Thermax SPX Energy Technologies Limited (TSPX) to acquire their shareholding in the TSPX a JV and subsidiary company in India. Post transfer of shares TSPX will become the wholly owned subsidiary of the company.

Sharda Motor Industries: Company has entered into the joint venture (JV) agreement with Eberspaecher Exhaust Technology International GmbH (EET) for business development of BS VI norms in commercial vehicle segment in India also. Board in principally agreed to the proposed demerger of the automobile seating business.

Bharti Airtel: Airtel and Ciena to build one of the world's largest photonic control plane networks in India for delivering ultra-fast data over 4G, 5G and FTTH. Network to span 130,000 kms and connect 4000+ towns across India.

Tejas Networks: Company launches world's first ultra-converged broadband product at Mobile World Congress, Barcelona.

Out of F&O ban: PC Jeweller

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Source: Moneycontrol