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    The Baseline

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    The Baseline
    03 Aug 2017
    The Pataka Stocks screener, post Q1 results: LTTS, Sagar Cements, Control Print

    The Pataka Stocks screener, post Q1 results: LTTS, Sagar Cements, Control Print

    The Pataka Stocks Screener highlights stocks where analysts have estimated at least a 20% upside in the share's target price. Stocks in the list post Q1 results include Sagar Cements, L&T Technology Services (LTTS), MPS Limited  and Control Print.

    These companies have seen substantial YoY revenue growth, and analysts have pushed higher target prices on specific rationale. Sagar Cements for example says that it expects significant cost reductions in the coming quarters, with shift to cheaper raw material and process improvements. 

    L&T Technology Services (LTTS), a domain specialist in Engineering and R&D, is expected to ride on the rapid growth projected in the ER&D sector, especially in the US market. Analysts like Karvy also expect high growth for communications firm MPS Limited, citing the expansion of platforms in the US market. 

    Analysts also have high hopes for coding and marking firm Control Print, which saw significant margin expansion in FY12-16 after it changed its product mix to prioritize consumables, a high margin product with a growing base of installed printers. For the full screener, click here.

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    The Baseline
    02 Aug 2017
    Best Bargains Screener: Companies post June quarter results

    Best Bargains Screener: Companies post June quarter results

    As the June quarter results roll in, some companies have dominated our top screeners with stellar Q1 performance and good revenue growth. In the Best Bargains Screener, these include pipes company Prakash Industries, IT company Tanla Solutions, chemicals firm Navin Fluorine and edible oils company Sanwaria Agro Oils. 

    These firms have delivered strong net profits and revenue growth, and are trading with good volumes in the stock market. They are also typically have a share price that is still competitive for investors - the price to book value and PE is reasonable. For the full screener, click here. 

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    The Baseline
    31 Jul 2017
    Stock reports for the week of July 23 - 30: analysts pick Crompton Greaves Consumer Electricals

    Stock reports for the week of July 23 - 30: analysts pick Crompton Greaves Consumer Electricals

    Close to 100 stock research reports have landed this week, from Axis Direct, Motilal Oswal, HDFC Securities and more. Stock pick of the week from analysts is Crompton Greaves Consumer Electricals, which has received BUY calls from HDFC Sec, Nirmal Bang and Reliance Securities. The company took a hit in share price with Q1 results, which were impacted by GST and related channel destocking. Analysts think this makes the shares competitive for long-term investments. 

    The company is also said to be close to a deal to acquire home appliances firm Kenstar for Rs. 1,500 crore. 

    DateStockTargetUpside
    (%)
    TypeCMPBrokerChange in
    past 6M
    2017-07-29Biocon Limited --%Results Update391.95HDFC Securities and 1 other1x
    2017-07-29Aditya Birla Fashion and Ret.. --%Results Update167.70HDFC Securities and 1 other
    2017-07-29Cochin Shipyard Ltd IPO --%IPO Note-HDFC Securities and 1 other
    2017-07-29Cholamandalam Investment and.. 1296.009.83%Buy1180.00HDFC Securities 1x
    2017-07-28Glenmark Pharmaceuticals Lim.. 1035.0044.55%Buy716.00HDFC Securities 1x
    2017-07-28Crompton Greaves Consumer El.. 252.0020.89%Buy208.45HDFC Securities and 1 other1x
    2017-07-28Zee Entertainment Enterprise.. --%Results Update537.90HDFC Securities and 1 other
    2x
    2017-07-28IRB Infrastructure Developer.. --%Results Update225.60HDFC Securities and 1 other
    2017-07-28ITC Limited 353.0021.93%Buy289.50HDFC Securities and 1 other3x
    3x
    2017-07-28ICICI Bank Limited 338.0014.07%Buy296.30HDFC Securities and 1 other2x
    2017-07-28MphasiS Limited 690.0015.19%Buy599.00HDFC Securities and 1 other
    2017-07-28Maruti Suzuki India Limited 8478.0011.11%Buy7630.00HDFC Securities and 1 other1x
    1x
    2017-07-28Dr. Reddy's Laboratories Lim.. 2275.007.75%Sell2466.00HDFC Securities and 1 other1x
    2x
    2017-07-28Zensar Technologies Limited 927.0015.41%Buy803.25Axis Direct
    1x
    2017-07-28Reliance Industries Limited .. 1785.0011.98%Buy1594.00Axis Direct
    2017-07-28Persistent Systems Limited 664.002.95%Hold645.00Axis Direct and 1 other
    1x
    2017-07-28Mahindra CIE Automotive Limi.. 270.006.66%Buy253.15Axis Direct and 1 other
    2017-07-28Divi's Laboratories Limited 625.00-7.15%Hold673.10Axis Direct and 1 other
    1x
    2017-07-28Bajaj Auto Limited 3015.006.35%Hold2835.00Axis Direct and 1 other1x
    2017-07-28The Karnataka Bank Limited 192.0025.49%Buy153.00Axis Direct
    2017-07-28HCL Technologies Limited 764.0014.25%Sell890.95Nirmal Bang Institutional and 1 other
    2x
    2017-07-28Supreme Industries Limited 1384.0024.57%Buy1111.05Nirmal Bang Institutional and 1 other
    1x
    2017-07-28Housing Development Finance .. 1995.0012.45%Buy1774.10Reliance Securities and 1 other
    2017-07-28Yes Bank Limited 2051.0011.11%Buy1846.00Reliance Securities and 1 other1x
    2017-07-28Dewan Housing Finance Corpor.. 508.0010.65%Hold459.10Nirmal Bang and 1 other1x
    2017-07-28Oil & Natural Gas Corporatio.. 178.008.01%Hold164.80ICICI Securities Limited and 1 other1x
    2017-07-28Reliance Capital Limited 775.008.21%Buy716.20ICICI Securities Limited
    2017-07-28Security and Intelligence Se.. --%IPO Note-ICICI Securities Limited
    2017-07-27Exide Industries Limited 262.0021.13%Buy216.30HDFC Securities and 1 other
    1x
    2017-07-27L&T Finance Holdings Limited --%Results Update169.30HDFC Securities and 1 other
    2017-07-27Nestle India Limited --%Results Update6770.15HDFC Securities and 1 other1x
    2x
    2017-07-27Bharat Financial Inclusion L.. --%Results Update852.75HDFC Securities and 1 other
    2017-07-27Asian Paints Limited --%Results Update1155.10HDFC Securities and 1 other
    2x
    2017-07-27Axis Bank Limited --%Results Update514.30HDFC Securities and 1 other1x
    2017-07-27Vedanta (Sesa Sterlite Limit.. --%Results Update274.00HDFC Securities and 1 other1x
    1x
    2017-07-27Hero MotoCorp Limited --%Results Update3620.00HDFC Securities and 1 other1x
    2017-07-27Federal Bank Limited 129.0013.36%Buy113.80HDFC Securities and 1 other
    2017-07-27FORCE MOTORS LTD. 4897.0020.79%Buy4054.00Religare
    2017-07-27Transport Corporation of Ind.. --%Mgmt Note313.75Motilal Oswal
    1x
    2017-07-27INOX Leisure Limited 331.0031.27%Buy252.15Nirmal Bang Institutional and 1 other1x
    1x
    2017-07-27PVR Limited 1453.008.59%ACC.1338.00Nirmal Bang Institutional and 1 other
    1x
    2017-07-27Pidilite Industries Limited 909.0015.06%Buy790.00Reliance Securities and 1 other
    2017-07-27Tata Communications Limited 870.0028.42%Buy677.45Edelweiss and 1 other
    2017-07-27PI Industries Limited 980.0027.52%Buy768.50Axis Direct
    2017-07-27Grindwell Norton Limited --%Strategy Note421.50Karvy and 1 other
    2017-07-27Bharti Airtel Limited 480.0016.39%Buy412.40ICICI Securities Limited and 1 other
    2017-07-27Siyaram Silk Mills Limited 2265.003.60%Hold2186.35ICICI Securities Limited
    2017-07-26Orient Cement Limited 165.004.76%NEUT.157.50HDFC Securities and 1 other
    1x
    2017-07-26Delta Corp Limited 237.0037.59%Buy172.25Motilal Oswal
    2017-07-26Shivam Autotech Limited --%-69.60BP Wealth
    2017-07-26Alembic Pharmaceuticals Limi.. 525.00-2.95%Hold540.95Axis Direct 1x
    2017-07-26ABB India Limited 1400.00-1.34%Hold1419.00Axis Direct and 1 other1x
    2x
    2017-07-26Hindustan Zinc Limited 257.00-7.15%Hold276.80Axis Direct 1x
    2017-07-26Kotak Mahindra Bank Limited 1050.003.64%Hold1013.10Axis Direct and 1 other
    2017-07-26RBL Bank Limited 620.0016.03%Buy534.35Axis Direct and 1 other
    2017-07-26Sun Pharmaceuticals Industri.. --%Not Rated550.10Nirmal Bang Institutional
    3x
    2017-07-26Hindustan Petroleum Corporat.. 321.0014.15%Sell373.90Nirmal Bang Institutional
    2017-07-26KSB Pumps Limited 796.006.62%Hold746.55Karvy and 1 other
    2017-07-26Gulf Oil Lubricants India Li.. 827.000.55%Hold822.50ICICI Securities Limited
    2017-07-26Info Edge (India) Limited 1100.0011.66%Hold985.10ICICI Securities Limited and 1 other
    2017-07-26Rallis India Limited --%NEUT.244.20Angel Broking and 1 other
    2017-07-25Larsen & Toubro(L&T) Infotech 890.0017.11%Buy760.00HDFC Securities and 1 other
    2017-07-25Wipro Limited --%Results Update289.90HDFC Securities and 1 other
    2017-07-25Ashok Leyland Limited 118.007.71%Buy109.55HDFC Securities and 1 other
    1x
    2017-07-25Ambuja Cements Limited 220.0016.06%Sell262.10HDFC Securities and 1 other1x
    1x
    2017-07-25Bharti Infratel Limited 480.0020.60%Buy398.00Motilal Oswal and 1 other
    1x
    2017-07-25GlaxoSmithKline Pharmaceutic.. 2500.003.30%NEUT.2420.05Motilal Oswal
    2017-07-25Mahindra & Mahindra Financia.. 459.0014.18%Buy402.00Motilal Oswal
    2017-07-25HDFC Bank Limited --%Results Update1775.90BOB Capital Markets Ltd. and 1 other1x
    1x
    2017-07-25Navkar Corporation Limited 229.0013.25%Buy202.20Reliance Securities
    2017-07-25Swaraj Engines Limited 2570.0019.42%Buy2152.00ICICI Securities Limited 1x
    1x
    2017-07-24United Spirits Limited 2525.00-1.15%NEUT.2554.35Motilal Oswal and 1 other
    2x
    2017-07-24D.B.Corp Limited 450.0019.68%Buy376.00Motilal Oswal
    1x
    2017-07-24Avenue Supermarts Limited 882.00-1.78%NEUT.898.00Motilal Oswal
    2017-07-24Indiabulls Housing Finance L.. 1350.0015.27%Buy1171.20Motilal Oswal
    2017-07-24The Jammu & Kashmir Bank Lim.. 91.006.74%NEUT.85.25Motilal Oswal and 1 other
    1x
    2017-07-24UltraTech Cement Limited --%Results Update4023.95SMC online and 1 other1x
    2017-07-24ACC Limited --%Results Update1725.15SMC online 1x
    1x
    2017-07-24Aurobindo Pharma Limited 850.0016.93%Buy726.90Axis Direct
    1x
    2017-07-24Bajaj Finance Limited 1500.00-11.84%Hold1701.50Axis Direct 1x
    2017-07-24Canara Bank 370.001.96%Hold362.90Axis Direct
    1x
    2017-07-24MindTree Limited 463.00-2.85%Hold476.60Axis Direct 1x
    2x
    2017-07-24Hindustan Unilever Limited (.. 1250.008.51%Buy1152.00Axis Direct 5x
    2x
    2017-07-24GlaxoSmithKline Consumer Hea.. 6025.008.95%Buy5530.00Axis Direct
    1x
    2017-07-24NIIT Technologies Limited 575.0011.43%Hold516.00ICICI Securities Limited
    2017-07-24Mangalore Refinery and Petro.. 150.0021.07%Buy123.90ICICI Securities Limited 1x
    1x
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    The Baseline created a screener Growth companies in Tech: …
    28 Jul 2017

    Growth companies in Tech: Software companies with rising net profit, revenue and ROCE

    Screener for software companies with rising net profit, revenue and ROCE
    1
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    The Baseline
    27 Jul 2017
    June Quarter Results Dashboard: Finance, Iron and Steel industries best performing so far

    June Quarter Results Dashboard: Finance, Iron and Steel industries best performing so far

    The June 2017 results are coming in across industries, and it is Finance and Iron & Steel that are topping the result dashboard as best industry performers so far.

    While the top performing industries in the dashboard may change as more results come in, finance firms like Bajaj Finserv, which hit a new year high today in share price, have posted healthy Q1FY18 results, while the surge in the metals industry has benefited iron, steel and intermediate product companies substantially this quarter.

    One such firm is Indian Metals and Ferro Alloys, which saw a decline QoQ in net profit but has performed very strongly YoY, with profit and EBITDA growth in the triple digits. Holding companies, which are part of the Other Financial Services industry, have also seen good performances in the June quarter.

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    The Baseline
    23 Jul 2017
    Stock reports for the week of July 17 - 23: Tata Steel gaining on bullish growth and domestic policies

    Stock reports for the week of July 17 - 23: Tata Steel gaining on bullish growth and domestic policies

    Stock reports for the week are live! Over 60 reports have landed as results roll in for the first quarter of FY18, and analysts from Axis Direct, HDFC Securities, Motilal Oswal, etc are issuing new calls and target prices. Stock pick of the week from analysts is Tata Steel, which is gaining on the government's domestic procurement policy and rising steel prices. 

    DateStockTargetUpside
    (%)
    TypeCMPBrokerChange in
    past 6M
    2017-07-21Bajaj Auto Limited 3296.0017.09%Buy2815.00HDFC Securities and 1 other1x
    2017-07-21Wipro Limited 280.00-2.23%NEUT.286.40HDFC Securities and 1 other
    2017-07-21Kotak Mahindra Bank Limited 1109.0011.05%Buy998.65HDFC Securities and 1 other2x
    2017-07-21FORCE MOTORS LTD. 5186.0027.95%Buy4053.15HDFC Securities
    2017-07-21KPIT Technologies Limited 125.00-1.03%NEUT.126.30HDFC Securities and 1 other2x
    2017-07-21Alembic Pharmaceuticals Limi.. 635.0017.55%Buy540.20HDFC Securities and 1 other1x
    2017-07-21Hindustan Zinc Limited 270.00-3.28%NEUT.279.15HDFC Securities and 1 other1x
    2017-07-21ABB India Limited 1607.009.96%Buy1461.40Reliance Securities and 1 other1x
    2x
    2017-07-21Havells India Limited 546.0018.19%Buy461.95Karvy and 1 other3x
    3x
    2017-07-21MPS Limited 777.0030.13%Buy597.10Karvy 1x
    2017-07-21Raymond Limited 935.0016.61%Buy801.85Karvy
    2017-07-21Bajaj Finserv Limited 5170.005.37%Buy4906.70ICICI Securities Limited
    2017-07-21Rallis India Limited 300.0026.16%Buy237.80ICICI Securities Limited
    2017-07-21D.B.Corp Limited 430.0014.61%Hold375.20ICICI Securities Limited
    1x
    2017-07-20MindTree Limited --%Results Update483.65HDFC Securities and 1 other1x
    1x
    2017-07-20Hindustan Unilever Limited (.. --%Results Update1158.55HDFC Securities and 1 other4x
    3x
    2017-07-20Sanofi India Limited --%Results Update4165.10HDFC Securities and 1 other
    2017-07-20Bajaj Finance Limited --%Results Update1617.55HDFC Securities and 1 other1x
    2017-07-20Canara Bank --%Results Update350.70HDFC Securities and 1 other
    1x
    2017-07-20UltraTech Cement Limited 3763.009.95%Sell4178.75HDFC Securities and 1 other2x
    2x
    2017-07-20NIIT Technologies Limited 540.00-0.39%NEUT.542.10Motilal Oswal
    2017-07-20Tata Consultancy Services Li.. 2580.003.58%Buy2490.90Reliance Securities and 1 other1x
    1x
    2017-07-20DCB BANK LIMITED 240.0023.71%Buy194.00Nirmal Bang and 1 other
    2017-07-20Music (MBL) Broadcast Ltd 434.0018.90%Buy365.00Angel Broking
    2017-07-20Infosys Limited 1138.0016.13%Buy979.90Axis Direct and 1 other
    1x
    2017-07-20IndusInd Bank Limited 1720.009.70%Buy1567.95Axis Direct and 1 other
    1x
    2017-07-20Multi Commodity Exchange of .. 1302.0015.45%Buy1127.80Axis Direct and 1 other
    2017-07-20Biocon Limited 470.0017.50%Buy400.00Axis Direct 1x
    2017-07-20IDFC Limited --%Not Rated58.25Axis Direct
    2017-07-20GIC Housing Finance Limited 628.0013.09%ACC.555.30CD Equisearch
    1x
    2017-07-20Sterlite Technologies Limited 230.003.53%Buy222.15ICICI Securities Limited
    2017-07-20Kansai Nerolac Paints Limited 495.0010.02%Buy449.90ICICI Securities Limited
    2017-07-19CRISIL Limited --%Results Update1908.05HDFC Securities and 1 other
    2017-07-19TV18 Broadcast Limited --%Results Update40.50HDFC Securities
    2017-07-19Jubilant Life Sciences Limited --%Results Update749.75HDFC Securities and 1 other
    2017-07-19HT Media Limited 90.005.14%NEUT.85.60Motilal Oswal and 1 other
    1x
    2017-07-19Hindustan Media Ventures Lim.. 350.0024.42%Buy281.30Motilal Oswal
    2017-07-19Tata Steel Limited 583.005.50%NEUT.552.60Motilal Oswal 3x
    2017-07-19Aurobindo Pharma Limited 850.0013.70%Buy747.55Motilal Oswal and 1 other
    1x
    2017-07-19L&T Finance Holdings Limited 180.0017.80%Buy152.80Motilal Oswal
    2017-07-19UFO Moviez India 690.0074.68%Buy395.00IDBI Capital
    2017-07-19BOROSIL GLASS WORKS LTD. 11856.0030.44%Buy9089.40Edelweiss
    2017-07-19Dabur India Limited 300.00-0.89%Hold302.70Axis Direct
    1x
    2017-07-19L&T Technology Services Ltd 915.0018.19%Buy774.15Axis Direct
    2017-07-19Eicher Motors Limited 32566.0012.13%Buy29041.90Nirmal Bang Institutional 1x
    2017-07-19IPCA Laboratories Limited --%Not Rated480.65Nirmal Bang Institutional
    2017-07-19Container Corporation of Ind.. 1370.0016.03%Buy1180.75ICICI Securities Limited
    2017-07-19Bata India Limited 650.0012.14%Hold579.65ICICI Securities Limited
    2x
    2017-07-18ACC Limited --%Results Update1710.80HDFC Securities and 1 other1x
    2x
    2017-07-18Jubilant Foodworks Limited --%Results Update1253.25HDFC Securities and 1 other1x
    2x
    2017-07-18The Karnataka Bank Limited --%Results Update156.95HDFC Securities
    2017-07-18Gruh Finance Limited --%Results Update475.00HDFC Securities and 1 other
    2017-07-18The South Indian Bank Limited --%Results Update28.60HDFC Securities 2x
    2017-07-18ITC Limited 280.002.95%Sell288.50Motilal Oswal and 1 other1x
    3x
    2017-07-18Indoco Remedies Limited 201.000.02%Not Rated200.95Nirmal Bang Institutional
    1x
    2017-07-18Vakrangee Limited 530.0020.84%Buy438.60Karvy
    2017-07-18VST Industries Limited 3427.001.66%Hold3371.15ICICI Securities Limited 1x
    1x
    2017-07-18Gravita India Limited --%Not Rated84.50ICICI Securities Limited
    2017-07-18State Bank of India 340.0017.10%Buy290.35ICICI Securities Limited
    2017-07-17Aditya Birla Nuvo Limited --%Mgmt Note1887.30Axis Direct
    2017-07-17Cyient Limited 623.0017.30%Buy531.10Axis Direct and 1 other1x
    2017-07-17Endurance Technologies Ltd 1031.0015.78%Buy890.50Axis Direct
    1x
    2017-07-17IDFC Bank Limited --%Strategy Note60.45Axis Direct 1x
    2017-07-17Reliance Industries Limited .. 1545.00-2.60%Buy1586.20Axis Direct
    1x
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    The Baseline
    20 Jul 2017, 12:10PM
    Live: Supreme Court continues debate on whether Indian citizens have a right to privacy

    Live: Supreme Court continues debate on whether Indian citizens have a right to privacy

    To read part 1 of the Supreme Court debate, click here. The Supreme Court is debating whether Indians have a fundamental right to privacy. The impact of the privacy ruling would be wide-ranging. If the bench rules that Indians have no fundamental right to privacy, it could authorize a variety of government actions against the privacy of homes, vehicles, individual frisking, phone data collection, and more.

    4:00 pm

    Meenakshi Arora concludes with an argument for personal choice - in the sharing of information and data. The day's hearing ends - the Government is set to reply to arguments tomorrow. 

    3:50 pm

    Notes legal acknowledgement of privacy has a long history - a 1763 colonial India judgement recognized the privacy of personal belongings. 

    3:30 pm

    MA points out that the word 'dignity' even occurs in the majority judgement in that particular case.

    Meenakshi Arora, the last counsel for the petitioners, begins her arguments. She argues that the Kharak Singh case has been used to make a case both for and against privacy - there are "internal inconsistencies" in the argument, as Justice Nariman puts it. 

    3:15 pm

    Define right to privacy, Povaya asks the Bench, "as one of the pillars of the Constitution". Povaya concludes, lamenting that in 2017 we are questioning a right the country has held since the Constitution was written. 

    3:10 pm

    Povaya believes that defining the contours (limits?) of privacy is needlessly restrictive for the citizen, and that governments will find ways to get around those. He says a basic declaration is enough, with contours decided on a case by case basis. 

    3:05 pm

    Povaya says that declaring privacy a fundamental right helps ensure accountability between the various branches of government, so that there are no aggregate violations of privacy as they share data among themselves.

    He adds that we cannot define the right to privacy with too much specificity, since technology overtakes many restrictions over time. 

    3:00 pm

    The darkweb discussion is relevant for law enforcement. Non-profit Tor, which manages the dark web and encrypts IP addresses, server addresses and prevents outside parties from snooping on conversations, has drawn the attention of government authorities everywhere. in 2014 a massive law enforcement crackdown had taken several darkweb sites suspected of criminal activity offline. 

    2:50 pm

    The digital era and privacy debate have led to a wide-ranging discussion in court, covering the dark web, bitcoin, Russian intrusion into the US election, and hacking. Justice Bobde clarifies: this discussion may not have immediate relevance, but could impact future cases. 

    2:30 pm

    Justice Chandrachud follows up with an unusual question: What if citizens are unconcerned about data collection? Povaya responds by saying that surrendering information, and showing willingness to do it, does not remove the right to privacy. Povaya reads from US Justice Sotamayor's opinion on privacy in the digital age. "Secrecy is not the basis of privacy. Dignity is."

    2:20 pm

    Justice Chadrachud interprets Povaya's argument: So you're saying the collection most be for a purpose specified by law, and its use must be limited to that.

    2:15 pm

    Povaya discusses the importance of privacy to freedom of movement, and the role of a privacy right in multiple scenarios. "I may not want the State to know I visit a gay bar."

    He adds: If my lords were to hold that there is no fundamental right to privacy, the State would deal with data differently.

    12:45 pm

    Sanjay Povaya has now taken over from Grover. Says that this is the first time privacy is being considered as a right in the digital age, by this Court. The ramifications of the absence of privacy are more severe in the digital age, such as surveillance.

    12:35 pm

    The Bench and Grover discuss in some detail a transgender case Grover handled, and related arguments about the indvidual's privacy. 

    12:30 pm

    Chief Justice pointing out that liberty conception under Part 3 is not as wide as the Bar points out. Grover re-reads arguments he read earlier on the privacy-dignity link

    12: 25 pm

    Chief Justice suggests there are three tiers, liberty, dignity and privacy. Grover responds saying article 21 rights are inherent. Privacy is inseparable from liberty and dignity. 

    12: 15 pm

    Justice Chandrachud asks whether you can refuse to give personal data to passport authorities citing a privacy law. Grover responds saying no, since that data is protected by confidentiality agreements.

    Justice Chandrachud then asks: Suppose govt has an electronic database with a profile of every person who has been convicted of a crime. Is that allowed? Grover responds saying that question cannot be settled today. 

    12:00 pm

     Anand Grover has begun arguing before the Supreme Court in the right to privacy case.

    Grover: There is a detailed international framework for the protection of individual privacy rights. Says human dignity is at the foundation of Article 21. Says "privacy-dignity claims" have to be treated with special care. 

    The minutes above have been compiled from the tweets and reports of the lawyers Gautam Bhatia and Prasanna S, who were present at the hearing. 

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    The Baseline
    19 Jul 2017
    Live: Supreme Court begins debate on whether Indian citizens have a right to privacy

    Live: Supreme Court begins debate on whether Indian citizens have a right to privacy

    The Supreme Court hearing on the right to privacy began today. The bench recessed and will continue tomorrow, but the Justices in conversation with the petitioner lawyers seemed to consider the need for an assertion of privacy. Whether it will take the shape of a fundamental right however, remains an open question as they will continue to listen to arguments tomorrow. 

    The impact of the privacy ruling would be wide-ranging. If the bench rules that Indians have no fundamental right to privacy, it could authorize a variety of government actions against the privacy of homes, vehicles, individual frisking, phone data collection, and more.

    3:40 pm

    Justice Chandrachud notes that complete autonomy and privacy not possible - for example in deciding whether to send a child to school. Says that privacy may be a "small component" of liberty. 

    3:20 pm

    Asks Justices to "lift the cloud" over the various past judgements by asserting a clear right to privacy. Asserting it as a fundamental right would guarantee Indian citizens real protections.

    3:00 pm

    Advocate Datar says it will be paradoxical to insist that the Constitution guarantees 40 other rights but not privacy. 

    2:45 pm

    Justices discussing 4th amendment cases in the US, that asserted privacy protections.

    2:30 pm

    Divan adds that power of other citizen rights would be denuded, without an asserted right to privacy. 

    2:20 pm

    Justices question Divan on his request that the right to privacy be asserted in Part III of the Constitution, as a fundamental right. Divan says its necessary to limit State control and violation of this right. 

    2:15 pm

    Supreme Court Justice Dhananjaya Chandrachud notes that in the age of big data, "the State must regulate its aspects." That all parts of customer information cannot be considered protected. 

    Divan agrees but says that the right to privacy is not absolute, but an assertion of the basic right needs to be laid down by the Court. 

    2 pm

    Divan: Two generations of Indians have grown up accepting that privacy is a fundamental right. We cannot set the clock back now.

    1 pm

    The bench breaks for lunch. To be continued from 2 pm. 

    12:50 pm

    Divan distinguishes the fundamental right to privacy from the rulings on search and seizure by police, on suspicion of criminal activity. It's a tightrope walk here. Narco analysis was outlawed in a case on grounds of mental privacy. 

    12:45 pm

    Divan notes that Article 21, which guarantees life and personal liberty, is the cornerstone that makes the Constitution a living document. 

    12:40 pm

    Divan: "There are fourteen such judgments, in an unbroken line, that have held that privacy, or an aspect of it, is a fundamental right." He argues that these mark fundamental righs as evolving, and embracing privacy. 

    12:37 pm

    Divan cites Gobind vs State of Madhya Pradesh, the first Indian case that recognized a fundamental right to privacy in 1975. Mentions additional such cases from 1994, 1997 and 1998. 

    Articles 14, 19 and 21, form a golden triangle that guarantees the right to privacy. This right, Divan argues, "is also part of India's international obligations."

    12:35 pm

    In a nod to liberal thought in the developed world, which says laws need to adapt to changing societies, Divan calls the Constitution a "living document".

    12:32 pm

    You cannot compel an individual to give up their personal information, Shyam Divan says. "Compelled speech" violated the right to privacy. 

    12:30 pm

    Privacy includes the right to be left alone, freedom of thought, freedom to dissent, bodily integrity, informational self-determination (referring to the compulsory collection of Aadhaar)

    12:25 pm

    Advocate Shyam Divan makes continuing arguments. "We have an unbroken line of decisions since 1975 recognizing the right to privacy."

    12:15 pm

    Soli Sorabjee continues for the petitioners. Says, the fact that no express right to privacy is mentioned in the Constitution does not mean that it doesn't exist.

     Article 19(1)(a) does not guarantee a freedom of the press. But it can be deduced from free speech, which courts have done.

    12:10 pm

    Subramaniam is now reading passages from various judgements to strengthen his argument of Justices, at various times, defending privacy rights for citizens.

    12:00 pm

    "Article 21 makes the dignity of a citizen enforceable against the State. This means all shades of dignity, including privacy", says Gopal Subramaniam, "Every democratic country sanctifies domestic life... nothing is more deleterious (to this) than a calculated interference with privacy."

    11:30 pm

    Lawyer Gopal Subramaniam, representing the petitioners, has begun arguments before the Supreme Court, saying that,  "Privacy is the essence of liberty".  Privacy is not...a right in the shade of other rights. Gopal Subramaniam argues that freedom of thought, guaranteed by the Constitution, is not possible without the right to privacy. 

    "Recognize what is already there (in the Constitution)" Gopal Subramaniam says in his argument. 

    The minutes above have been compiled from the tweets and reports of the lawyers Gautam Bhatia and Prasanna S, who were present at the hearing. 

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    The Baseline
    16 Jul 2017
    Research reports for the week: July 10 - July 16

    Research reports for the week: July 10 - July 16

    Stock research reports for the week of July 10-16 is live! Reports from HDFC Securities, ICICI Securities and Motilal Oswal are coming in as results season takes off in earnest. Stock pick of the week from analysts is midcap IT company Cyient Limited,

    While the company saw muted growth for its 1QFy18 quarter, the management confirmed double digit guidance for its core businesses, saying that projected growth for FY18 looks bullish. The company's share price is trading below its 50 day average after its results.

    DateStockTargetUpside
    (%)
    TypeCMPBrokerChange in
    past 6M
    2017-07-14Infosys Limited 1120.0015.22%Buy972.05HDFC Securities
    2017-07-14Cyient Limited 570.0011.97%Buy509.05HDFC Securities and 1 other1x
    2017-07-14Multi Commodity Exchange of .. 1322.0020.58%Buy1096.35HDFC Securities and 1 other
    2017-07-14Tata Consultancy Services Li.. 2500.004.22%NEUT.2398.80HDFC Securities and 1 other
    2017-07-14CCL Products (India) Limited --%Hold275.05Way2Wealth
    2017-07-14Cummins India Limited --%Sell934.00CD Equisearch
    1x
    2017-07-14Rico Auto Industries Limited --%Not Rated79.00ICICI Securities Limited
    2017-07-14Biocon Limited 375.00-6.06%Hold399.20ICICI Securities Limited
    2017-07-13Emami Limited 1265.0017.02%Buy1081.00Motilal Oswal
    2017-07-13Bajaj Corp Limited 472.0016.54%Buy405.00Reliance Securities
    1x
    2017-07-13SREI Infrastructure Finance .. --%-114.45IDBI Capital
    2017-07-13Housing and Urban Developmen.. 112.0023.62%Buy90.60ICICI Securities Limited
    2017-07-13Zydus Wellness Limited 1054.0019.10%Buy885.00ICICI Securities Limited
    2017-07-13Birla Corporation Limited 1100.0018.73%Buy926.45ICICI Securities Limited
    2017-07-12APL Apollo Tubes Limited 2352.0048.18%Buy1587.30Religare
    2017-07-12IndusInd Bank Limited 1663.005.39%Buy1577.95HDFC Securities and 1 other
    1x
    2017-07-12NTPC Limited 250.0049.66%Buy167.05Motilal Oswal 1x
    2x
    2017-07-12Ashok Leyland Limited 122.0015.69%NEUT.105.45Motilal Oswal
    1x
    2017-07-12Salasar Techno Engineering L.. --%IPO Subscribe-Way2Wealth
    2017-07-12Tata Global Beverages Limited 195.0012.04%Hold174.05ICICI Securities Limited
    2017-07-11Sonata Software Limited 200.0024.22%Buy161.00Prabhudas Lilladhar
    2017-07-11MORGANITE CRUCIBLE (INDIA) L.. 1370.0016.89%Buy1172.05ICICI Securities Limited
    2017-07-11Shankara Building Products Ltd 1250.0026.94%Buy984.75ICICI Securities Limited
    2017-07-10Divi's Laboratories Limited 600.00-18.33%NEUT.734.70Motilal Oswal and 1 other
    2017-07-10Dhanuka Agritech Limited 898.0012.36%Buy799.25Axis Direct
    1x
    2017-07-10KEC International Limited 330.0012.30%Buy293.85ICICI Securities Limited
    2x
    2017-07-10Godrej Industries Limited 780.0017.97%Buy661.20ICICI Securities Limited
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    The Baseline
    15 Jul 2017
    Saturday Roundup: Mobius says 'invest in India', Suzlon Energy to exit Brazil market

    Saturday Roundup: Mobius says 'invest in India', Suzlon Energy to exit Brazil market

    The Wholesale Price Index (WPI)-based inflation fell to 0.9% in the month from 2.17% in May, according to data released on Friday. The data adds to the likelihood that the RBI may announce an interest rate cut in its meet in August. The WPI is now at its slowest pace in 11 months in June. Link

    Emerging markets investor Mark Mobius says that Indian markets are a good target for global investors, with the GST set to benefit firms, and falling inflation setting the scene for interest rate easing by RBI. Indian markets have a valuation, he wrote, at the highest in the last seven years. Link

    Suzlon Energy says that it has exited its Brazil business. The subsidiary was established in 2006 to manage business operations in the country. Based on the company's recent management statements, the focus has moved to the US in the Americas, and the firm's current international bid book stands at around 1GW. Suzlon is hoping for new wins of around 300 MW in FY19. Link

    Photo of the day: A contestant competes in the Aquatic Championships. Stefan Wermuth/Reuters

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