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Wednesday, 27 March 2019

Strides Pharma climbs 4% after Macquarie upgrades, increases target

Strides Pharma Science shares rallied more than 4 percent in the morning trade on March 27 after Macquarie upgraded the stock to outperform from neutral, citing likely strong earnings growth in the next financial year.

The global investment firm also raised its price target to Rs 532 from Rs 486 apiece after increasing FY20/21 EPS estimates by 3 percent.

The stock was quoting at Rs 459.30, up Rs 14.20, or 3.19 percent on the BSE, at 1006 hours IST.

At 14x FY20 PER, concerns are fairly captured, the research house feels.

Macquarie expects the US market to be a key margin driver for the company and expects a sharp recovery in EBITDA to profit after tax translation from FY20.

It further expects US margin to expand from 11 percent in Q3FY19 to 18 percent in FY20 and sees strong visibility in other regulated markets.

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Source: Moneycontrol

Friday, 15 March 2019

Stocks in the news: Infosys, RIL, Chalet Hotels, Jubilant Foodworks, Strides Pharma, CMI, Tide Water

Here are stocks that are in the news today:

IDBI Bank: RBI categorized IDBI Bank as a private sector bank for regulatory purposes with effect from January 21, 2019 consequent upon Life Insurance Corporation of India acquiring 51 percent of the total paid up equity share capital of the bank.

Tide Water Oil (India): Board declared 2nd Interim Dividend of 1700 percent (Rs 85) per ordinary share for the year 2018-19.

Tech Mahindra: Board approved the proposal to acquire 100 percent shareholding in K-Vision Co through its wholly owned subsidiary Mahindra Engineering Services (Europe). Enterprise value ofthe deal is $1.5 million.

Delhi High Court stayed National Anti-Profiteering Authority (NAA) order against Jubilant Foodwork and the penalty proceedings subject to deposit of an amount of Rs 20 crore in the Central Consumer Welfare Fund within four weeks from the date of the order.

RBI categorized IDBI Bank as a Private Sector Bank for regulatory purposes with effect from January 21, 2019 consequent upon Life Insurance Corporation of India acquiring 51% of the total paid up equity share capital of the Bank.

NCLT approved the scheme of amalgamation of Explosoft Tech Solutions with AXISCADES Engineering Technologies

Emami: SAT passed an order accepting the appeal and quashing the order of the SEBI Adjudicating Officer imposing penalty of Rs 8 lakh on R S Agarwal, Chairman of company.

LGB Forge: R Ramakrishnan resigned as Chief Financial Officer of the company.

CMI: Company has been included as vendor with few prestigious companies (Power Grid projects, Airport Authority of India, Mazgaon Dock Shipbuilders, Jawahar Lal Nehru Port Trust) in the 3rd quarter ending December 2018.

Ranjeet Mechatronics: Company received is a project for supply, installation, testing and commission of various equipments and items for fire fighting and gas flooding & fire suppression system works for the Airport Authority of India (AAI). The project value is Rs 11.56 crore.

Kapashi Commercials: Board recommended bonus issue of equity shares in the ratio of three equity share of Rs 10 each for every two equity share of Rs 10 each held by the shareholders.

Infosys gets shareholder approval for share buyback and to reappoint Kiran Shaw as independent director

RIL - Brookfield sponsored India Infrastructure Trust (InvIT) to acquire East-West Pipeline for Rs 13,000 crore

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