Mover & Shakers on D-Street: Banking stocks, Escorts India, Piramal Enterprises, ONGC, Havells India, Suzlon Group, TTK Prestige and Bata

Leading domestic brokerage Ambit Capital says demand moderation, rising promotions and increasing input costs of consumer companies indicate a weak 4QFY14 earnings season, which should act as a negative catalyst for overvalued stocks such as Jubilant Foodworks; and create an attractive entry point for TTK Prestige and Bata.

Barca Global Master Fund has acquired 6.39 lakh shares of Multi Commodity Exchange though bulk deal on Wednesday. The deal was executed at Rs 519.05 apiece valuing the deal at Rs 33 crore. CLSA (Mauritius) was the seller.

Domestic brokerage Anand Rathi expects banking universe to see net profit rising 11.5 per cent yoy in 4Q FY14 led by modest net interest income and high provisioning. Asset quality trends and loan restructuring in the sector would continue to be key monitorables, it said in a note.

HDFC Bank, SBI, Bank of Baroda, Yes Bank, J&K Bank, DCB, REC, Bajaj Fin and PTC Financial to post higher profit growth, according to the brokerage.


Fidelity Investments has sold 8.82 lakhs shares of Escorts India at Rs 127.5 a share on the NSE. In an another deal, Morgan Stanley Asia has bought 13.91 lakh shares of Piramal Enterprises at Rs 530 apiece.

Phillip Capital has put a ‘Buy’ rating on ONGC with a target price of Rs 372 as at $ 8.4/mmbtu gas price, ONGC’s FY15E EPS could improve by about 30 per cent. ONGC produces about 62 mcm/d of gas. Shares of ONGC declined a per centto Rs 322 on Wednesday.

Kotak Securities has downgraded the ratings of Havells India to ‘Sell’ from ‘Reduce’ and set a target price of Rs 750 as the brokerage believes that Havells (and peer group) would report moderate growth in next few quarters. Shares of Havells ended 1.47 per cent higher at Rs 902.

Suzlon Group announced the strategic sale of the 240-MW Big Sky Wind Farm in Illinois to EverPower Wind Holdings. Suzlon Group had recently acquired the Big Sky Wind Farm from Edison Mission Energy via their fully owned US-based subsidiary Suzlon Wind Energy Corp. Suzlon closed up 7.53 per cent at Rs 15 on NSE.