30 Oct: Pre-market Updates

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India Daybook – Stocks to watch for:

Sundaram Finance: 2Q net income 1.6b rupees, beats est. 1.36b (Positive)

Central Depository: 2Q group net income 268.5m rupees vs. 245.4m y/y (Positive)

HINDUSTAN FOODS: To Buy Mortein Unit From Reckitt Benckiser (Positive)

TCS Recognized as a Leader in Mobile Application Development and Testing by IDC MarketScape (Positive)

L&T launches ICGS Vikram, the first of its Offshore Patrol Vehicles for the Indian Coast Guard. (Positive)

Torrent Pharma on the prowl for Unichem’s Indian assets with a $500 m budget (Positive)

Maruti Suzuki confident of being number one player in EV: R C Bhargava (Positive)

Dassault to invest 100 mn euros in Indian JV with Reliance Aerospace (Positive)


More
Indian Oil aims 13.5 million tonnes LNG import capacity in 5 years (Positive)

Zydus receives final approval from the USFDA for Tamoxifen Citrate Tablets USP (Positive)

IDFC Bank, Shriram Set to Call off Merger Talks: Economic Times (Positive)

INDIGO: Says flying all Airbus A320neos as Pratt fixes engine issues (Positive)

Hindustan Oil Exploration: 2Q net income 55.8m rupees vs131.1m rupees y/y (Negative)

Indian Oil: lost about 3B Rupees in 2Q on GST: Director Finance (Negative)

ITC: Says legal cigarette industry volumes under severe pressure (Negative)

Sun Pharma Advanced: 2Q loss 625.7m rupees (Negative)

CLSA: Improvement in asset quality to drive rerating for ICICI Bank, Raised target for the stock to Rs 380 to Rs 302 (Positive)

Goldman Sachs revises FY18-20 estimates by -6% to +3%, maintains BUY call on ICICI Bank, Raised target for the stock to Rs 355 to Rs 302 (Positive)

UBS maintains BUY call on ICICI Bank, says management tone positive after a long time, tgt at Rs 400/sh (Positive)

Deutsche Bank reiterates BUY call on IOC on increased refining segment contribution, target raised to Rs 530 (Positive)

IOC remains favorite oil marketing entity for Nomura, target raised to Rs 495 (Positive)

CLSA maintains BUY rating on Maruti, target raised to Rs 10,000 from Rs 9,230/Sh (Positive)

Volume growth & market share trends key catalysts for Maruti suzuki, says Macquarie, target raised to Rs 10,000 (Positive)

ITC Ltd: ITC Ltd Raised to Buy at Jefferies, Target price at 305 Rupees (Positive)

Macquarie maintains Neutral Rating on ITC, target at Rs 304/Sh (Neutral)]