Key Q4FY19 Results, IPO Buzz, and Top Stocks in Action Today

Thu, 18 Apr Pre-Open

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On Tuesday, share markets in India traded on a positive note throughout the day and ended higher.

The BSE Sensex closed higher by 370 points to end the day at 39,276. IndusInd bank and ICICI Bank were among the top gainers.

While the broader NSE Nifty ended up by 97 points to end at 11,787.

Among BSE sectoral indices, banking stocks gained the most by 1.7%, followed by consumer durable stocks and telecom stocks.

Top Stocks in Action Today

Lupin share price will be in focus today as the company has received approval for its Fluoxetine Tablets USP, 10 mg and 20 mg, from the United States Food and Drug Administration (USFDA) to market a generic version of Eli Lilly and company's (Eli Lilly) Prozac Tablets, 10 mg and 20 mg.

Prestige Estates share price will be in focus today as its wholly owned subsidiary - Prestige Retail Ventures (PRVL) has acquired the balance 51% stake of Babji Realtors. The transaction is in the ordinary course of business and has been completed at an arms' length basis for a cash consideration of Rs 3.6 billion.

Market participants will also track Tata Motors share price.

Reportedly, the company is planning to expand its electric vehicles (EV) segment in the passenger vehicle space by widening its portfolio. The company is planning to add Altroz EV, a premium hatchback, and H2X or Hornbill Small SUV, a small SUV, which will be in league with Tiago and Tigor EV.

Results Corner

Mastek share price has reported a net profit of Rs 19.3 million for the quarter under review against net loss of Rs 16 million for the same quarter in the previous year. Total income of the company increased by 14% at Rs 497.9 million for Q4FY19 as compared Rs 436.6 million for the corresponding quarter previous year.

Tata Metalik share price has reported a rise of 17.8% in its net profit at Rs 643.5 million for the quarter under review as compared to Rs 546.5 million for the same quarter in the previous year.

Market participants will also track Tata Sponge share price, DCB bank share price and RBL bank share price as these companies are set to announce their Q4FY19 results today.

Jet Airways Saga

The management of Jet Airways has proposed a temporary shutdown of the struggling airline, as the company awaits promised funds from banks in a rescue deal.

On Tuesday, Jet Airways shares fell as much as 19% following reports of a planned temporary shutdown, as the future of the once-dominant Indian airline appeared increasingly uncertain.

The airline has been struggling for weeks after failing to receive a loan of about US$ 217 million from its lenders as part of a bailout plan agreed in late March.

Jet owns 17 planes which include Boeing 777s and Airbus A330s, while the rest are leased. It had a fleet of 124 planes as of December 2018. But the owned planes have already been collateralised against funds that were raised to finance their purchase.

Jet has defaulted on loan payments, grounded almost all planes, stopped paying its employees and laid off many of them. The airline's second biggest shareholder Etihad Airways has expressed an interest in investing a second time in it though with a condition that its stake be capped at 24%.

Other bidders include TPG Capital, Indigo Capital and Think Equity-Redcliffe Capital. The state-run National Investment and Infrastructure Fund will bid directly.

How this pans out remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Oil Prices Slip

Brent oil slipped to around US$ 71 a barrel on Tuesday, pressured by expectations of higher US inventories and concern about Russia's willingness to stick with OPEC-led supply cuts.

While OPEC-led supply cuts have boosted Brent by more than 30% this year, gains have been limited by worries that slowing economic growth could weaken demand for fuel.

Oil also fell on Monday after comments from Russia raised concern the OPEC-led supply-cutting pact may not be renewed. Russia and the producer group may decide to boost output to fight for market share with the United States.

The Organization of the Petroleum Exporting Countries and other producers including Russia, an alliance known as OPEC+, have been cutting output since January 1. They will decide in June whether to continue the arrangement.

On the demand-side, there is concern that an economic slowdown as well as improving energy efficiency and the emergence of alternative transport fuels will erode oil consumption.

From the IPO Space...

Real estate firm Shriram Properties has received market regulator market regulator's go-ahead to float an initial public offering (IPO) through which it plans to raise about Rs 12.5 billion.

According to draft papers, the IPO comprises fresh issue aggregating up to Rs 2.5 billion besides an offer for sale of up to 42,403,271 shares by existing shareholders, including Tata Capital Financial Service and TPG Asia.

The company is looking to consider a pre-IPO placement of up to Rs 1 billion. Funds raised through the issue would be utilised for repayment of certain borrowings availed by the company or its subsidiaries and for general corporate purposes.

Speaking of IPOs, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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