From Hindalco to Bharti Infratel, hot stocks to watch on Thursday

Nifty
Current: 10,858 (fut: 10,880)
Target: NA
Stop-long positions at 10,790. Stop-short positions at 10,960. Big moves could go till 11,025, 10,725. A long 10,700p (132), short 10,600p (105) could gain 15-20 if the index drops till 10,750.

Bank Nifty
Current: 25,070 (fut: 25,145)
Target: NA
Stop-long positions at 24,950. Stop-short positions at 25,350. Big moves could go till 25,550, 24,650. Trend Is bearish. Be prepared for excess volatility.

Hindalco
Current price: Rs254
Target price: Rs259
Keep a stop at Rs251 and go long. Add to the position between Rs257 and Rs258.
Book profits at Rs259.

Bharti Infratel
Current price: Rs252
Target price: Rs247
Keep a stop at Rs255 and go short. Add to the position between Rs248 and Rs249.
Book profits at Rs247.

UPL
Current price: Rs642
Target price: Rs630
Keep a stop at Rs649 and go short. Add to the position between Rs632 and Rs635.
Book profits at Rs630.

Business Standard

Bharti Infratel down 4% after block deals

Bharti Infratel dipped 4% to Rs 398 on the NSE in intra-day trade after more than five percentage point equity of the company changed hands through multiple block deals.

The stock hit its lowest level since September 29, 2017. It hit a 52-week high of Rs 483 on October 17, in intra-day deal.

Till 10:33 AM; around 113.79 million equity shares representing 6% of total equity of Bharti Infratel changed hands on the NSE, the exchange data shows.

The name of the buyers and sellers were not ascertained immediately.

Earlier, on August 8, 2017, Nettle Infrastructure Investments, a subsidiary of Bharti Airtel, had sold 67.5 million equity shares or 3.65% of its stake in Bharti Infratel for about Rs 2,568 crore. Nettle Infrastructure Investments sold these shares at an average price of Rs 380.43 per share on the BSE, the exchange data shows.

Post transaction, Nettle Infrastructure Investments holding in Bharti Infratel declined to 7.67% (141.9 million shares) from 11.32%.

Bharti Airtel was trading 0.38% higher at Rs 500, after hitting an intra-day high of Rs 505 on the NSE.

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Bharti Infratel, Bharti Airtel down over 4%

Shares of Bharti Infratel and Bharti Airtel slipped up to 7% on the BSE in an other wise range-bound market.

Bharti Infratel dipped 7.5% to Rs 422 on the BSE in early morning trade. The counter reported a huge block with around 6.42 million equity shares representing 0.34% of total equity of Bharti Infratel exchanging hands on the BSE at 10:42 am, the exchange data shows.

The name of the buyers and sellers were not ascertained immediately.

At 11:29 am; Bharti Infratel was down 6% at Rs 428, while Bharti Airtel was trading 4% lower at Rs 489 on the BSE. By comparison, the S&P BSE Sensex was up 0.11% at 33,183 points.

In the past one month, Bharti Airtel (up 32%) and Bharti Infratel (up 21%) had outperformed the market by gaining more than 20%, against 5% rise in the benchmark index till Thursday.

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Bharti Infratel falls 5% after huge block deals

STOCK MARKET - Bharti Infratel has dipped 5% to Rs 380 on BSE in early morning deals, after more than 3% of the total equity of telecom services provider changed hands in multiple block deals.

Till 09:51 am; around 77.9 million equity shares, representing 4.2% of total equity of Bharti Infratel have changed hands on the BSE, the exchange data shows.

The name of the buyers and sellers were not ascertained immediately.

According to PTI reports, Bharti Airtel, the promoter of Bharti Infratel is to be in the process to offload a 3.7% stake in the company for about Rs 2,500 crore. CLICK HERE TO READ FULL REPORT.

Earlier, on March 29, 2017, Bharti Airtel had transferred an 11.32% stake in its mobile tower arm Bharti Infratel to its wholly owned subsidiary Nettle Infrastructure at a value of around Rs 6,806 crore.

On March 28, 2017, Bharti Airtel had offloaded 190.58 million shares of Bharti Infratel at price of Rs 325 per share. A consortium of global private equity firms KKR and Canada Pension Plan Investment Board (CPPIB) bought 10.3% stake in tower infrastructure firm from open market.

At 10:05am the stock was trading flat at Rs 420, after hitting a high of Rs 425 on the BSE in intra-day trade.

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