6 Nov: Stocks to watch out for

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India Daybook – Stocks to watch for:

TITAN Q2: Consol PAT at Rs 283 Cr Vs Rs 169 Cr, Up 67% YoY; Consol Revenue at Rs 3,473 Cr Vs Rs 2,704 Cr, 28.4% YoY (Positive)

Unichem Lab Q2 net profit at Rs 45.8 cr Vs Rs 20.5 cr (YoY); Revenue up 17.5% at Rs 428.1 cr Vs Rs 364.2 cr (YoY) (Positive)

Sheela Foam: 2Q net income 313.7m rupees vs 291.6m (Positive)

Godrej Properties: Scheme of amalgamation b/w Godrej Buildcon, Godrej Projs Dvpt approved by both cos (Positive)

Torrent Pharma to buy Unichem's India, Nepal branded formulations; to acquire Unichem's formulations biz for Rs 3,600 cr (Positive)

Bharti Telecom raises stake to 50.1% from 45.48% via inter-se transfer, Bharti Telecom buys 18.47 crore shares of Bharti Airtel (Positive)

Moody's Investors Service has revised upwards its credit outlook on Reliance Industries (Positive)

Power Grid plans to raise Rs 3,000 crore through masala bonds (Positive)

AU Small Finance Bank: SBI AMC allowed to buy up to 10% in co. (Positive)

Britannia: To invest 15b rupees to expand manufacturing (Positive)

Oricon: To sell 51% stake in packaging unit for 4.2b rupees (Positive)

Power Grid: To form JV with UPPTCL for transmission works (Positive)

NTPC: Says Unchahar plant shutdown not material to company (Positive)

Power Grid: 2Q net income 21.4b rupees, est. 21.3b (Neutral)

Shipping Corp: 2Q loss 761.8m rupees vs 177.7m loss y/y (Negative)

Sical Logistics: 2Q net income 60.6m rupees vs 70.6m (Negative)

Inox Wind: 2Q loss 468.1m rupees vs net income 564.2m rupees y/y (Negative)

Moderation in slippages encouraging; CLSA raises target on Union Bank to Rs 210 from Rs 160/Sh (Positive)

Bank’s CASA franchise is strong; CLSA retains earnings estimates, raises target to Rs 250 from Rs 180/Sh (Positive)

The best is yet to come for Tata Power’s coal EBITDA, CLSA maintains BUY call with a target of Rs 100/Sh (Positive)

Q2 Hindalco standalone earnings in-line with estimates; Credit Suisse raises target to Rs 310/Sh (Positive)

CLSA lifts FY19-20 earnings for Godrej Properties by 5-10%, building in higher pre-sales; target at Rs 873/Sh (Positive)

Macquarie believes higher valuation of Titan will sustain on potential market share gains, with tgt at Rs 907/sh, from Rs 700/sh (Positive)

Momentum on market share gain continues for Titan, Credit Suisse raises target to Rs 760/Sh (Positive)

Unichem acqn to be EPS accretive by FY21, CLSA maintains BUY call on Torrent Pharma, tgt cut to Rs 1,640 from Rs 1,660/Sh (Neutral)