{"id":121729,"date":"2019-06-07T04:40:43","date_gmt":"2019-06-07T04:40:43","guid":{"rendered":"https:\/\/www.bnreport.com\/stocks-in-the-news-dhfl-indiabulls-real-estate-wipro-cyient-and-schneider-electric\/"},"modified":"2019-06-07T04:40:43","modified_gmt":"2019-06-07T04:40:43","slug":"stocks-in-the-news-dhfl-indiabulls-real-estate-wipro-cyient-and-schneider-electric","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/stocks-in-the-news-dhfl-indiabulls-real-estate-wipro-cyient-and-schneider-electric\/","title":{"rendered":"Stocks in the news: DHFL, Indiabulls Real Estate, Wipro, Cyient and Schneider Electric"},"content":{"rendered":"

NEW DELHI: Nifty futures on the Singapore Exchange were trading 24 points, or 0.20 per cent, lower at 11,860, indicating a negative start for the Nifty50. Here are a few stocks which may buzz the most in todays trade:<\/p>\n

Indiabulls Real Estate:<\/strong> US-based investment firm Blackstone may acquire Indiabulls Real Estate's promoters' stake at an estimated enterprise value of around $1 billion, sources said Thursday. Blackstone might buy promoters' total 39 per cent stake in Indiabulls Real Estate through a joint venture with Bengaluru-based realty firm Embassy Group, they added.<\/p>\n

Wipro:<\/strong> Founder Azim Premji will give up his executive functions as chairman and managing director in July but remain on the board as director and founder chairman. Eldest son Rishad Premji, already a board member, will take over as chairman, and chief executive officer.<\/p>\n

DHFL:<\/strong> Dewan Housing Finance Corporation (DHFL) is raising about \u20b9900 crore by issuing Pass Through Certificates (PTCs), or securities used in loan portfolio sales.<\/p>\n

Cyient:<\/strong> The IT firm announced a corporate venture investment in Cylus, an Israel-based cybersecurity solutions provider for the rail industry. The company did not disclose the amount it invested in Cylus.<\/p>\n

Schneider Electric<\/a> Infrastructure:<\/strong> The competition commission<\/a> has asked parent Schneider, which acquired electrical and automation business of L&T for Rs 14,000 crore, to reserve a part of the latter's installed capacity to offer white labelling services to third party companies.<\/p>\n

Corporation Bank:<\/strong> One of the consortium of lenders to fugitive Nirav Modis firms Firestar Diamond International and Firestar International has approached the dedicated bankruptcy court with insolvency resolution petitions for the default of \u20b938.65 crore and \u20b941.31 crore respectively.<\/p>\n

State Bank of India (SBI):<\/strong> The bank said it has been closely monitoring its exposures to the NBFC sector for the past many months and is taking appropriate measures to safeguard its interest.<\/p>\n

IOC, HPCL:<\/strong> Oil refiners Indian Oil Corp (IOC) and Hindustan Petroleum Corp Ltd (HPCL) Thursday said they will contest tax authorities demand for over Rs 4,000 crore in excise duty on ethanol used for doping petrol, saying the sugarcane extract for mixing in fuel is exempt from tax.<\/p>\n

BOARD MEETINGS
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ANALYST CALLS
\u2022 Anand Rathi has retained its buy recommendation on Heidelberg Cement with a higher target of \u20b9263. Aided by strong price environment and concentrated efforts towards cost optimisation, company reported strong performance. Its shorter lead distances, an increasing share of premium cement volumes and higher utilisation will continue to aid the company to good performance, said the brokerage.<\/p>\n

\u2022 JM Financial has maintained its buy rating on Asian Paints with a target price of \u20b91,475 as they continue to see Asian Paints as a compelling long-term investment theme that quite justifies the premium that it commands. While the business did witness headwinds on input-costs during the year plus increase in costs-base on account of the commissioning of two large greenfield facilities, it still managed to sustain its ROCE and ROE in FY19 at 21.3% and 24.1% vs 21.6% and 24.6% in FY18, said the brokerage.<\/p>\n

\u2022 Geojit Financials has maintained its accumulate rating on KNR Constructions with a target price of \u20b9324 citing pick up in execution as projects are getting financial closure and appointed date. Healthy balance sheet, strong execution capability with better operational margin to support valuation, said the brokerage.<\/p>\n

\u2022 Narnolia Financial has maintained its neutral stance on Cipla with a target price of \u20b9565 citing strong US growth partly offset by weak tender business. Going forward, as the company is progressing well in its initiative to build a strong specialty pipeline; clinical trials for such specialty products will add to the costs and would put pressures in the margins, said the brokerage.<\/p>\n

\u2022 Karvy Stock Broking has recommended to sell Havells India shares with a target price of \u20b9800 citing growth across segments offset by lower margins. Havells to trade at premium valuations due to its strong brand, highly penetrated distribution channel, efficient working capital management and cash flow generation, said the brokerage.<\/p>\n

Insider Buys:<\/p>\n