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Thursday, March 23, 2017

Today's Calls
1. Buy JSW Energy Ltd at Rs.60.90, T: Rs.66-72, SL; Rs.59. JSW Energy, part of the Sajjan
Jindal-led JSW Group, is believed to be in the race for buying out the thermal power assets of Monnet Power and Jindal India Thermal Power Ltd (JITPL) in Odisha. Monnet Power’s 1,050 Mw coal-based power plant near Angul was in advanced stage of commissioning.  Monnet Power’s parent company, Monnet Ispat & Energy had won the Mandakini coal block in Odisha in competitive bidding, it surrendered the block later on grounds of economic unviability. Monnet Power had accumulated debt in excess of Rs 5,000 crore. 

2. Those who are holding the shares of Tata Motors Ltd (Rs.469.50), can continue to hold the same with a SL: Rs.459. The stock is on an uptrend, and is likely to move above Rs.470, in a short time.

3. Buy IVRCL Ltd at Rs.5.15, T: Rs.7, SL: Rs.4.60.
There were earlier media reports that Essel Infraprojects Ltd is in advanced talks to buy a controlling stake in Hindustan Dorr-Oliver (HDO), a publicly traded unit of infra developer IVRCL Ltd.
Meanwhile, the lenders to IVCRL had decided in December last year to convert their debt in the company to equity under the strategic debt restructuring (SDR) mechanism. On 24 February, IVRCL told stock exchanges that State Bank of India, on behalf of the lenders, has informed the company that lenders have approved the SDR conversion package. Lenders converted part of the firm’s debt into equity at a price of Rs8.765 per share. After the conversion, the lenders collectively hold 51% or more of the total share capital of the company. Infrastructure major IVRCL reported narrowing of its net loss to Rs.249.27 crore for the third quarter ended December 2016. The company had registered a net loss of Rs.345.47 crore in the same period a year ago.
However, net income from operations during the quarter also declined to Rs.397.88 crore as against Rs.501.46 crore in the year-ago period.
Total expenditure fell to Rs.479.88 crore during October-December 2016 as against Rs.700.49 crore in the previous financial year.

4. Those who have entered Panacea Biotech Ltd at Rs.155, can book some profits at Rs.161 and wait for dips to enter.
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