- India Grid Trust to list today
- SBI launches QIP issue
- ICICI Bank board approves proposal to list ICICI Lombard
- Adani Power to consider hiving off Mundra plant
- Strides Shasun gets form 483 from U.S. FDA
- Raymond shareholders reject proposal to sell JK House
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,687.
Your Tuesday morning briefing.https://t.co/w5Orq9uoMY pic.twitter.com/YMvOaD73ti
Here are the stocks to watch out for in today's session:
India Grid Trust
- To list on the bourses today
- Issue price of Rs 100
- Issue was subscribed 1.35 times
State Bank of India
No discount for @TheOfficialSBI's qualified institutional placement. pic.twitter.com/ehU4xsXrBx
- To raise up to Rs 15,000 crore via QIP
- The issue is also likely to carry zero discount, bank sources to BloombergQuint
- Could issue 52.2 crore equity shares at a floor price of Rs 287.58 per share
- QIP will result in equity dilution of 6.14 percent
- Government's holding to fall to 57.5 percent from 62.2 percent
Adani Power
- To consider hiving off Mundra plant to its subsidiary Adani Power (Mundra) Ltd. today
- Gujarat Urja Vikas Nigam Ltd. (GUVNL) may buy 51 percent stake in the new subsidiary, PTI says
- GUVNL has a long-term power purchase agreement (PPA) with a substantially fixed tariff for 25 years
- Mundra plant was the largest single-location power generator in FY16
Also Read: India's Adani Approves Controversial Coal Project in Australia
ICICI Bank
- Board approves proposal to list ICICI Lombard General Insurance and to sell partial stake in the same
- Net profit for the FY17 for ICICI Lombard was up 38 percent at Rs 701.88 crore
- Solvency ratio is 210 percent
- Book value per share is Rs 82.57
- Foreign ownership is 34.3 percent
- Raymond: Shareholders reject proposal to sell JK house to promoters and extended family at substantial discount
- Strides Shasun: U.S. FDA issues form 483 for its South Bengaluru plant with three observations
- Cadila Healthcare: Received Establishment Inspection Report (EIR) from the U.S. FDA for its Baddi facility
- HDIL: Societe Generale buys 25.3 lakh shares or 0.58 percent stake at Rs 92.04 each
.@jetairways to add more to its fleet, report @_benkatz & @anuragkotoky reporthttps://t.co/nrEwE6pyFT pic.twitter.com/99CMt49v4W
Other Corporate Announcements
- NDTV: Clarifies that the CBI raids were based on a compliant by a former employee related to a loan from ICICI bank which has been repaid more than seven years ago
- Wipro: Shareholders approve issue of bonus shares. Also clarifies that the news of promoters in early stage of evaluating sale of part or whole business as 'baseless and malicious'
- Bharat Petroleum: Seeks shareholder nod to approve bonus issue
- Coral India Finance and Housing: Announces 5:1 stock split
- Indiabulls Real Estate: To issue NCDs worth Rs 75 crore on a private placement basis
- Alankit: Promoters enter into a share purchase agreement to acquire 5.4 crore shares or 37.78 percent stake in the company triggering an open offer to acquire 3.71 crore shares
- Capital First: Raised Rs 50 crore via issue of NCDs on private placement basis
- M&M Financial Services: To issue NCDs worth Rs 70 crore
- Gufic Biosciences: Received two patent certificates from Indian Patent Office of the Government of India
- Aditya Birla Nuvo: NCLT approves composite scheme of arrangement between company and Grasim Industries
- Singer India: Promoter sold 61,000 shares or 0.57 percent stake at Rs 232.49 each
- Scooters India: Government invites bids for bankers to advice strategic divestment of the company
Stampede Capital
- Promoter Usha Rani sold 15.5 lakh shares at Rs 19.65 each
- Bright Star Equities Pvt. Ltd. bought 30 lakh shares or 1.3 percent stake at Rs 19.65 each
Raymond shareholders reject a proposal for sale of JK House to promoters & extended family at a substantial discounthttps://t.co/QZUmphMvCM
Today's Nifty Call
NSE IPO to hit the market before year-end, says Chairman Ashok Chawla.https://t.co/59WyICNXqk pic.twitter.com/kCluQ8oLxn
Brokerage Calls
- Ahluwalia Contracts India: Cut to 'Hold' at Reliance Securities
- AIA Engineering: Cut to 'Hold' at Centrum Wealth Management
- Hindustan Unilever: Cut to 'Hold' at ICICIdirect with price target of Rs 1,120
Farm loans worth $40 billion, equivalent to 2% of GDP, may be waived ahead of 2019 polls, BofA ML warns.https://t.co/NmsloWyCUm pic.twitter.com/ur2Y5QrbJ6
Stocks In F&O Ban
- DLF
- GMR Infrastructure
- Indiabulls Real Estate
- Infibeam Incorporation
- Jaiprakash Associates
- Reliance Communications
- Reliance Capital
Economists say RBI likely to hold rates despite slower growth, easing inflation.@alexandermats @visshy_ithttps://t.co/oZFtLVSeXP pic.twitter.com/7b9WX3a3lr
Media Reports
- Hindustan Petroleum: To raise Rs 27,000 crore for Rajasthan Refinery. (Mint)
- DEN Networks: To exit TV commerce business. (Mint)
- CARE Ratings: Plans 10 percent share buyback. (Economic Times)
- Telecom Companies: COAI writes to Finance Ministry seeking cut in GST rates for sector. (PTI)
- ICICI Bank: Commissions 200 solar-powered ATMs. (PTI)
- ITC: Enters frozen food market, eyes sauce, condiments. (Mint)
BHEL proposes 79% dividend for FY17. https://t.co/l5FyjgPPRh pic.twitter.com/Z6eQz2DcDR
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
