Stocks in the news: SBI, Max Financial, LVB, Maruti and Indiabulls Real Estate

Nifty futures on the Singapore Exchange traded 15.50 points, or 013 per cent, lower at 11,931.50, indicating a negative start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade:

Earnings today: Adani Ports, Coal India, Hindalco, NMDC, NHPC, SJVN, Mahanagar Gas, India Cements, Hindustan Aeronautics and Finolex Industries are among some of the firms that will declare Q2 earnings later in the day.

SBI: The bank plans to raise about Rs 8,000 crore by selling a minority stake in the initial share sale of SBI Cards, a company that has also turned out to be a multi-bagger for the lender’s private-equity partner in the business – Carlyle. That will value the company at Rs 57,000 crore.

Max Financial: Sunil Kant Munjal’s Hero Corp is set to buy a significant minority stake from Analjit Singh in Max Financial Services Ltd, said two people familiar with the development. The listed Max Financial houses Max Life Insurance, the largest nonbank private life insurer in the country.

CG Power: The company has sought Sebi waiver on a market-access clause to raise much-needed funds. The company badly needs funds since bankers are reluctant to give fresh loans.

Indiabulls Real Estate: The HFC has reported nearly four-fold jump in its consolidated net profit at Rs 301.16 crore for the second quarter of this fiscal year.

LVB: Private sector Lakshmi Vilas Bank reported widening of net loss to Rs 357.18 crore for the second quarter ended September.

NTPC: State-run power giant posted around 38 per cent rise in its consolidated net profit at Rs 3,408.92 crore in the quarter to September 2019, driven by higher revenues.

Maruti Suzuki: The car maker reduced its production by 20.7 per cent in October, making it the ninth straight month when the country's largest carmaker lowered its output.

DLF: Realty major DLF's sales bookings rose 16 per cent to Rs 1,425 crore during the first six months of this fiscal year, mainly due to demand for its ready-to-move in residential units.

Glenmark Pharma: Drug maker Glenmark Pharmaceuticals is recalling close to 2.17 lakh cartons of Estradiol Vaginal inserts in the US market due to faulty delivery system, as per a report by the American health regulator.

Reliance Industries: Reliance Industries has cut by about 7 per cent the minimum price it is seeking for the natural gas it plans to produce from newer fields in the Bay of Bengal KG-D6 block after key customers such as fertiliser plants protested over the high base price, sources said.

Bharti Airtel: The telecom department has directed all circle heads to treat Bharti Airtel and Tata Teleservices as separate entities, as it is in process to challenge their merger in the Supreme Court, according to an official source.

Shree Renuka Sugars: The company posted consolidated net profit of Rs 2,739.6 crore for the second quarter ended September 30.

Oil India: State-owned Oil India reported a 27.2 per cent drop in its net profit at Rs 627.23 crore in the second quarter ended September 2019.

Edelweiss Financial Services: The Edelweiss Group is planning to raise up to $1 billion in dedicated real estate funds and deploy the proceeds in completion financing for housing projects stuck due to liquidity or solvency constraints.

Equitas Small Finance Bank: The bank has clocked a marginal decline in its profit after tax at Rs 47.6 crore for the quarter ending September 30, 2019.

Greenply Industries: The company has reported a 51 per cent increase in its consolidated net profit to Rs 26.4 crore during the second quarter of the current fiscal as compared to Rs 17.5 crore in the year-ago period.

Brokerage calls

• CLSA has retained buy rating on Dr Lal Pathlabs and increased target price to ₹1,800 from ₹1,330. The company's Q2 results were ahead of estimates, with another quarter of strong volume growth. Overall, volume remains the point of focus, helping the company expand into the rest of India and reducing dependence on its home market of Delhi/National Capital Region (NCR), it said. The brokerage has raised FY20-22 EPS estimates by 8-12% to reflect recent tax cuts.

• Ambit Capital has maintained buy rating on Magma Fincorp and lowered target price to ₹59 from ₹68. Poor track record of execution, deteriorating asset quality and lack of pricing power expose Magma to vagaries of market liquidity crunch, said Ambit. Shrinking margin profile with poor levers around growth would continue to keep RoA/ RoE muted. But Magma’s seasoned retail book doesn’t warrant deep discount valuation to 3-year rolling crosscycle average.

• Kotak Institutional Equities has maintained sell rating on Eicher Motors and revised target price to ₹17,000 from ₹15,000. Eicher Motors reported 24% YoY decline in consolidated Ebitda in Q2 of FY20 led by weak volume growth and margin pressures in VECV and Royal Enfield businesses. Kotak Institutional expects volume pressure to persist in FY21 due to (1) shift towards BS-VI engines and (2) increase in competitive intensity.

Insider Buys:

• Tokyo Plast International Limited: Priyaj Haresh Shah has bought 15,666 shares through Market Purchase from Nov 5, 2019 to Nov 6, 2019.
• Zensar Technologies Limited: Rpg Ventures Limited has bought 31,520 shares through Market Purchase on Nov 4, 2019.

Insider Sells:

• Axis Bank Limited: Sanjay Silas has sold 30,000 shares through Market Sale on Nov 6, 2019.
• BIRLASOFT LIMITED: Anil Nashikkar has sold 16,000 shares through Market Sale on Oct 18, 2019.
• Dynemic Products Limited: Dasrathbhai P. Patel-Huf has sold 22,000 shares through Market Sale on Nov 4, 2019.
• HDFC Bank Limited: Abhay Aima has sold 1,10,000 shares through Market Sale on Nov 6, 2019.
• HDFC Bank Limited: R Rajagopalan has sold 39,100 shares through Market Sale on Nov 6, 2019.
• HDFC Bank Limited: Sandeep Kumar has sold 27,000 shares through Market Sale on Nov 6, 2019.
• Housing Development Finance Corporation Limited: Mistry K M has sold 30,000 shares through Market Sale on Nov 7, 2019.
• ICICI Bank Limited: P. Sanker has sold 15,000 shares through Market Sale on Nov 6, 2019.
• ICICI Bank Limited: Prasanna Balachander has sold 20,000 shares through Market Sale on Nov 7, 2019.
• JK Paper Limited: Pradip Kumar Khaitan Jointly With Shreekant Somany-Trustees, Jk Paper Employees Welfare Trust has sold 60,943 shares through Market Sale on Nov 5, 2019.
• JSW Energy Limited: Mr Kantilal Narandas Patel & Mr K S N Sriram (Trustees For Jsw Energy Employees Esop Trust) has sold 1,49,910 shares through Market Sale on Nov 4, 2019.
• KPIT Technologies Limited: Kpit Technologies Employees Welfare Trust has sold 23,700 shares through Market Sale on Nov 6, 2019.
• LG Balakrishnan & Bros Limited: V.Rajvirdhan has sold 41,000 shares through Market Sale on Nov 5, 2019.
• NOCIL Limited: R. M. Desai has sold 20,000 shares through Market Sale on Nov 7, 2019.
• UltraTech Cement Limited: Aditya Marketing And Manufacturing Private Limited has sold 2,71,798 shares through Market Sale on Nov 4, 2019.

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

Bulk and Block Deals :
Note: Insider Buy/Sell is as defined by SEBI Insider Trading Regulations, 1992 Bulk Deal is defined as any trade in which quantity transacted is more then 0.5% of the companies equity shares listed on the exchanges. The above mentioned data is not completely Extensive as relatively smaller trades have been excluded. (Edelweiss Alternative Research)