Stocks in the news: Mindtree, Hotel Leelaventure, RCom, L&T and Jet Airways

StksrallyNEW DELHI: Nifty futures on the Singapore Exchange were trading 18 points, or 0.16 per cent, higher at 11,529.50, indicating a positive start for the Nifty50. Here are a few stocks, which may buzz the most in today’s trade:

L&T, MindtreeNSE -1.78 %: L&T has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha’s 20.32 per cent stake in Mindtree and has also placed an order with brokers to pick up another 15 per cent of the company shares from the open market. Subsequent to these deals, L&T would make an open offer to buy additional 31 per cent stake through an open offer.

Jet Airways: Etihad Airways is believed to have formally conveyed to Jet Airways’ top lender State Bank of India that it won’t make any further investment in the airline.

RCom: Nearly 15 months after Anil Ambani agreed to sell assets of Reliance CommunicationsNSE 10.00 % to a telecom firm run by elder brother Mukesh, the two groups Monday called off the deal citing delays in approval from the government and lenders.

Real estate stocks: The GST Council in its 34th meeting to be held on Tuesday is expected to take up various issues, including the implementation of lower GST rates for the real estate sector.

Hotel Leela Venture: The company announced sale of four hotels, including one in the national capital, and a property to Canadian investment fund Brookfield Asset Management for Rs 3,950 crore.

Tata Motors: UK arm Jaguar Land Rover (JLR) is recalling over 44,000 units in the UK to rectify emission issues in models manufactured between 2016-19.

Adani Ports and Special Economic Zone (APSEZ): The company said its board has given nod for buyback of non-convertible debentures (NCDs) worth Rs 1,400 crore.

Tata Chemicals: The company has signed a non- exclusive agreement with the Indian Space Research Organisation for the latter’s lithium-ion cell technology.

ZEEL, Voda Idea: Vodafone Idea and Zee Entertainment EnterprisesNSE 0.58 % (ZEEL) have entered into a tie-up on the latter’s over-the-top (OTT) platform ZEE5, in a bid to raise content play to take on rivals Reliance Jio and Bharti Airtel.

Eclerx Services: Retail investors could make 12-30 per cent in Eclerx Services over the next three months through arbitrage after the technology process management company last week announced a buyback of its shares.

IPO WATCH
The initial public offering (IPO) by Embassy Office Parks REIT got subscribed 20 per cent on the first day of the offer on Monday. The public offer received bids for 1,39,30,400 shares till 5 pm as against the total issue size of 7,12,56,400 shares offered by the company.

Board meetings

MIIII

Analyst calls

• Kotak Securities has recommended to buy Engineers India with a target price of Rs 153 as they believe EIL stock is trading at cheap valuation at PER 14x FY 2020 core earnings. EIL management reiterated positive outlook on the domestic order inflows driven by brownfield expansion of refineries, set up & integration of petrochemical plants with existing refineries and greenfield refinery expansion- including Maharashtra Refinery.

• Morgan Stanley has upgraded the rating of Kotak Mahindra BankNSE 0.68 % to overweight and raised the target price to ₹1,600 from Rs 1,365. The key factors, according to Morgan Stanley for the upgrade includes return of pricing power at private banks, partly helped by higher rates in wholesale markets and the funding crisis at NBFCs, improving credit risk situation in the corporate/SME segment.

• Reliance Securities has maintained its buy recommendation on ACC with a marginally revised target price of Rs 1,720. The brokerage continues to maintain their positive view on ACC owing to its deep penetration in the rural markets and consistent focus on premium products.

• Geojit has downgraded the rating of Cadila Healthcare to hold with a revised target price of ₹358 based on 18x FY21E EPS. Highly leveraged balance sheet post Heinz India acquisition, which was funded largely through debt, remain a near term concern.

• ICICI Securities has downgraded the ratings of Sterlite Technologies to hold and cut the target price to ₹230 per share citing pricing pressure. Some rub-off of steep correction in fibre optic cable prices in China and in other geographies may result in some downward revision of prices when they come to renegotiation, said the brokerage.
Insider Buys:

  • Alembic Limited: Nirayu Private Limited has bought 1,00,000 shares through Market Purchase from Mar 14, 2019 to Mar 15, 2019.
  • Asian Granito India Limited: Kamleshbhai Bhagubhai Patel has bought 21,500 shares through Market Purchase on Mar 13, 2019.
  • Asian Granito India Limited: Mukeshbhai J. Patel has bought 23,500 shares through Market Purchase on Mar 13, 2019.
  • B. L. Kashyap and Sons Limited: Ebony Advisors Llp has bought 3,02,055 shares through Market Purchase on Mar 13, 2019.
  • Biocon Limited: Biocon India Limited Employee Welfare Trust has bought 26,131 shares through Market Purchase on Mar 14, 2019.
  • Brooks Laboratories Limited: Mrs. Saras Gupta has bought 2,12,500 shares through Preferential Offer on Mar 14, 2019.
  • DaburNSE 0.12 % India Limited: Ratna Commercial Enterprises Private Ltd has bought 50,000 shares through Market Purchase on Mar 13, 2019.
  • Emkay Global Financial Services Limited: Emkay Corporate Services Private Limited has bought 21,313 shares through Market Purchase on Mar 14, 2019.
  • Hindcon Chemicals Limited: Sanjay Goenka has bought 60,000 shares through Market Purchase from Jan 16, 2019 to Mar 12, 2019.
  • Jindal Stainless Limited: Abhyuday Jindal has bought 1,50,000 shares through Market Purchase from Mar 14, 2019 to Mar 15, 2019.
  • JSW Steel Limited: Sahyog Holdings Private Limited has bought 7,75,000 shares through Market Purchase from Mar 12, 2019 to Mar 14, 2019.
  • Kaveri Seed Company Limited: Kaveri Employees Trust has bought 3,00,000 shares through Market Purchase from Mar 11, 2019 to Mar 14, 2019.
  • Manaksia Aluminium Company Limited: Vineet Agrawal has bought 7,31,247 shares through Market Purchase from Mar 13, 2019 to Mar 15, 2019.
  • Manaksia Limited: Vajra Machineries Private Limitedvajra Machineries Private Limited has bought 6,19,359 shares through Market Purchase from Mar 13, 2019 to Mar 14, 2019.
  • Mukand Limited: Bachhraj Factories Pvt Ltd has bought 69,615 shares through Market Purchase on Mar 13, 2019.
  • Nava Bharat Ventures Limited: A N Investments Private Limited has bought 25,000 shares through Market Purchase on Mar 14, 2019.
  • Nava Bharat Ventures Limited: Av Dwellings Private Limited has bought 20,000 shares through Market Purchase from Mar 14, 2019 to Mar 15, 2019.
  • S H Kelkar and Company Limited: S H Kelkar Employee Benefit Trust has bought 51,090 shares through Market Purchase from Mar 13, 2019 to Mar 14, 2019.
  • Sangam (India) Limited: Anurag Soni has bought 10,65,000 shares through Market Purchase on Mar 15, 2019.
  • Solara Active Pharma Sciences Limited: M/S. Spiracca Ventures Llp Designated Partner Mr Deepak C Vaidya has bought 22,500 shares through Market Purchase on Mar 14, 2019.
  • Spencer’s Retail Limited: Rainbow Investments Limited has bought 4,00,000 shares through Market Purchase on Mar 15, 2019.
  • Srikalahasthi Pipes Limited: G.K.Investments Limited has bought 17,634 shares through Market Purchase from Mar 13, 2019 to Mar 14, 2019.

Insider Sells:

  • Ashok Leyland Limited: Gopal Mahadevan has sold 80,000 shares through Market Sale on Mar 15, 2019.
  • Avanti Feeds Limited: Thai Union Asia Investment Holding Ltd has sold 1,04,735 shares through Market Sale from Mar 14, 2019 to Mar 15, 2019.
  • Avenue Supermarts Limited: Umesh Ahuja has sold 22,000 shares through Market Sale on Mar 11, 2019.
  • Axis Bank Limited: Rajiv Anand has sold 50,000 shares through Market Sale on Mar 14, 2019.
  • Axis Bank Limited: The Oriental Insurance Company Limited has sold 31,049 shares through Market Sale from Mar 14, 2019 to Mar 15, 2019.
  • B. L. Kashyap and Sons Limited: Ncube Ventures Llp has sold 1,12,055 shares through Market Sale on Mar 13, 2019.
  • Dabur India Limited: Sunil Duggal has sold 20,000 shares through Market Sale on Mar 12, 2019.
  • Divi’s Laboratories Limited: N. Chandrika Ramana has sold 16,585 shares through Market Sale on Mar 12, 2019.
  • Gruh Finance Limited: Shilpa Amit Kulkarni has sold 16,227 shares through Market Sale from Mar 1, 2019 to Mar 12, 2019.
  • Gruh Finance Limited: Sudhin Choksey has sold 1,15,500 shares through Market Sale from Mar 11, 2019 to Mar 15, 2019.
  • ICICI Bank Limited: Vishakha Vivek Mulye has sold 50,000 shares through Market Sale on Mar 14, 2019.
  • ICICI Bank Limited: Sanjeev Sehrawat has sold 23,600 shares through Market Sale on Mar 12, 2019.
  • Indiabulls Ventures Limited: Gagan Banga has sold 2,23,000 shares through Market Sale from Mar 13, 2019 to Mar 15, 2019.
  • Infibeam Avenues Limited: Yogeshkumar P Sutariya has sold 1,00,000 shares through Market Sale from Mar 13, 2019 to Mar 14, 2019.
  • Info Edge (India) Limited: Sanjeev Bikhchandani has sold 25,000 shares through Market Sale on Mar 15, 2019.
  • InterGlobe Aviation Limited: Rohit Philip has sold 35,329 shares through Market Sale on Mar 15, 2019.
  • ITC Limited: Roy John has sold 29,451 shares through Market Sale on Mar 14, 2019.
  • Jubilant Life Sciences Limited: R Sankaraiah has sold 28,155 shares through Market Sale on Mar 14, 2019.
  • Power Mech Projects Limited: Sajja Kishore Babu Huf has sold 1,00,000 shares through Market Sale on Mar 15, 2019.
  • RBL Bank Limited: Abhishek Kumar has sold 15,000 shares through Market Sale on Mar 15, 2019.
  • RBL Bank Limited: Mohammed Shoukath has sold 20,000 shares through Market Sale on Mar 15, 2019.
  • Ruchi Soya Industries Limited: Dinesh Khandelwal ( Trustee Of Disha Foundation) has sold 5,16,437 shares through Market Sale on Mar 14, 2019.
  • Ruchi Soya Industries Limited: Soyumm Marketing Private Limited has sold 31,00,000 shares through Market Sale from Mar 13, 2019 to Mar 14, 2019.
  • Thomas Cook (India) Limited: Madhavan Menon has sold 39,100 shares through Market Sale on Mar 14, 2019.

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

Bulk and Block Deals :

Blg Tickers Date Company Name Acquirer/Seller Buy /Sell Qty Traded Price
BCPC 18-Mar-19 B.C. Power Controls Limited Deepen Bharat Shah Buy 422,000 39.77
BCPC 18-Mar-19 B.C. Power Controls Limited Achintya Securities Pvt. Ltd. Sell 300,000 39.84
BHIN 18-Mar-19 Bharti Infratel Limited Nettle Infrastructure Investments Limited Buy 160,000,000 316.80
BHIN 18-Mar-19 Bharti Infratel Limited Bharti Airtel Limited Sell 160,000,000 316.80
BLIS 18-Mar-19 Bliss GVS Pharma Ltd Minesh Jormalbhai Mehta Sell 557,676 169.49
CPT 18-Mar-19 Capital Trust Ltd Moonlight Equity Private Limited Buy 665,000 208.00
CPT 18-Mar-19 Capital Trust Ltd Yogen Khosla Sell 665,000 208.00
DEWH 18-Mar-19 Dewan Housing Finance Corporation Ltd Pggm World Equity Bv Buy 2,516,898 136.55
ICV 18-Mar-19 International Conveyors Ltd Eriska Investment Fund Ltd Sell 487,850 29.66
JUST 18-Mar-19 Just Dial Limited Morgan Stanley France Sas Buy 407,312 639.34
MILEFUR 18-Mar-19 Milestone Furniture Limited Anjalee Exim Private Limited Buy 309,000 10.80
MILEFUR 18-Mar-19 Milestone Furniture Limited Mahaveer Equibiz Sell 309,000 10.80
MYPC 18-Mar-19 Mysore Petro Chemicals Ltd Vincent India Ltd Buy 200,000 75.00
MYPC 18-Mar-19 Mysore Petro Chemicals Ltd Savita Investment Company Ltd Sell 200,000 75.00
RELI 18-Mar-19 Reliance Infrastructure Ltd Pggm World Equity Bv Buy 1,460,946 135.93
RPWR 18-Mar-19 Reliance Power Ltd Skyveil Trade Solutions Llp Buy 6,144,000 11.06
SAHYOG 18-Mar-19 Sahyog Multibase Limited Meena Devi Agrawal Sell 97,000 28.20
VINL 18-Mar-19 VERITAS INDIA LTD Groupe Veritas Limited Buy 400,000 50.80
VINL 18-Mar-19 VERITAS INDIA LTD Kamalasini Tradelink Pvt Ltd Sell 200,000 50.80

[“source=economictimes.indiatimes”]