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Shares of Bharti Airtel gained nearly 2% in intraday trade and are on course to gain for the second day. The stock has added 4.5% over the last two sessions.
Morgan Stanley reiterated 'Overweight/In-line', while BNP Paribas, YES Research, Dolat Capital and New Street Research retained 'buy' over the last three sessions.
The company added 7.93 lakh mobile subscribers in June, according to TRAI data. The company paid Rs 8312.4 crore towards spectrum dues and was provided the allocation letter for the designated frequency bands within hours. E-band allocation was given along with spectrum as promised, Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises said in a statement.
Of the 33 analysts tracking the company, 30 maintain 'buy', two suggest 'hold' and one recommends 'sell'. The return potential of the stock is 18.5%
Source: Bharti Airtel Statement, Bloomberg
Tata Power Renewable Energy, a wholly owned subsidiary of Tata Power, has allotted 8.36 crore shares at Rs 239.2 apiece worth Rs 2,000 crore to BlackRock’s unit GreenForest New Energies Bidco.
The allotment completes tranche 1 of the transaction. Tranche 2 infusion of Rs 2,000 crore will be concluded later.
In April this year, BlackRock and Mubadala had announced they would invest Rs 4,000 crore in Tata Power Renewable.
Source: Exchange filing
Tata Motors will supply, operate and maintain 12-metre electric buses for a period of 12 years, as per the contract.
Company has already received orders for 1,500 e-buses from Delhi Transport Corporation and 1,180 e-buses from West Bengal Transport Corporation, respectively, in the last 30 days.
Orders for electric buses at Tata Motors now at over 3,600.
Source: Press release
The broader indices outperformed their larger peers with MidCap and SmallCap indices rising over 0.1%. Ten of the 19 sectoral indices compiled by BSE Ltd. advanced with telecom and realty stocks rising. On the flipside, energy, oil & gas, information technology and healthcare stocks declined.
The market breadth is skewed in the favour of bulls. About 1,782 stocks rose, 1,522 fell and 139 remained unchanged.
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Source: PIB, Bloomberg
The broader indices outperformed their larger peers with MidCap and SmallCap indices rising over 0.2%. Eleven of the 19 sectoral indices compiled by BSE Ltd. declined with Information Technology and Healthcare gauges losing over 0.5%.
Tourism and hospitality stocks are in focus today after union cabinet approved enhancement in limit of Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 50,000 crore.
The limit of ECLGS is hiked from Rs 4.5 lakh crore to Rs 5 lakh crore. The addition amount has been earmarked exclusively for firms in hospitality and related sectors.
In Focus: Indian Hotels, HLV Ltd., Lemon Tree, Chalet
Also in focus: Mahindra Holidays, Thomas Cook India.
Source: PIB, Bloomberg
Yield on the 10-year bond rose 2bps to 7.21% at the open.
Source: Bloomberg
Indian currency depreciated 16 paise (0.20%) to 79.61 at the open.
Source: Bloomberg
City Union Bank
Suven Pharma
Source: Bloomberg
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Sona BLW Precision Forgings: Blackstone to sell 10.87% stake in Sona BLW Precision Forgings in block trade. Upsize option of 1.58 crore shares representing 2.72% stake. Floor price set at Rs 500 apiece, a 7.3% discount on Wednesday’s closing price. The total deal would fetch Blackstone Rs 3,971.7 crore (calculated at floor price).
ONGC: The company has signed Heads of Agreement with ExxonMobil for deep water exploration in Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.
Natco Pharma: The company received tentative approval from the U.S. FDA for Trabectedin for Injection (generic for Yondelis) for the 1mg/vial presentation.
Reliance Industries: Jio adds net 4.22 million mobile subscribers in June: TRAI
Bharti Airtel: Adds net 7,93,132 mobile subscribers in June: TRAI
Vodafone Idea: Loses net 1.8 million mobile subscribers in June: TRAI
GAIL India: Approves raising up to Rs 25,000 crore through rupee borrowing and up to $313 crore in foreign currency.
Kilburn Engineering: RBL Bank sold 2.2 million shares of KEL in two blocks: BSE
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