- Yes Bank to consider stock split
- Wockhardt gets U.S. FDA approval
- Ambuja Cement acquires Limestone block in Maharashtra
- MEP Infra, JK Cement seek shareholder approval to raise funds
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,619.
Your Tuesday morning briefing.https://t.co/wO6K02fmAW pic.twitter.com/7O80XSs9UN
Here are the stocks to watch out for in today's session:
- Yes Bank: To consider stock split and June quarter results on July 26
- Wockhardt: Receives U.S. FDA approval for eye drop for treating opthalmic allergies to be manufactured in Montreal, Canada
- Ambuja Cements: Secured limestone block in Maharashtra of 42 million tonne at a final bid price of 125.05 percent of the mineral dispatched
- MEP Infrastructure: Seeks shareholder approval to raise funds via equity issuance of up to Rs 500 crore
- Jindal Poly: The company's unit in Netherlands is set to acquire Apeldoorn Flexible Packaging for 82.3 million Euros.
NTPC
- Begins commercial operation in the second unit of the 195 MW Muzaffarpur Thermal Power Station Stage - II
- Commercial capacity of Muzaffarpur Thermal Power Station becomes 610 MW
- Total commercial capacity of NTPC group now at 47,488 MW
JK Cement
- Seeks shareholder approval to issue NCDs up to Rs 500 crore
- Seeks shareholder approval to raise funds worth up to Rs 1,000 crore through issue of equity shares
Saksoft Limited
- Approves acquisition of the balance 24 percent stake in 360 Logica Testing Services Pvt. Ltd.
- 360 Logica now becomes a wholly-owned subsidiary of the company
- Hero MotoCorp: Decides to put a complete halt on royalty payments to Honda, effective from July 1. (Economic Times)
Insolvency: Lenders shortlist resolution professionals for 7 firms heading to NCLT. @visshy_it reports.https://t.co/tzmWpwP5e4 pic.twitter.com/Eu2rZS5Dd7
Other Corporate Announcements
- Wipro: To declare results on July 20, 2017
- Rolta India: Company's GDRs have been de-listed from the London Stock Exchange
- Emkay Global Financial Services: To consider fund raising through issuance of equity shares
- V2 Retail: Closed one operational retail store in Uttar Pradesh
- Emami: Incorporate a wholly-owned subsidiary in Sri Lanka - Emami Indo Lanka Pvt. Ltd.
- Shiva Cement: JSW Cement buys 18.91 lakh equity shares for Rs 23.86 each on the Bombay Stock Exchange
- Just Dial: CFO Ramkumar Krishnamachari resigned from his post on July 3
- Amit Spinning Industries: Manufacturing unit in Kolhapur stands closed with effect from July 1
- Tata Global Beverages: Appointed N Chandrasekaran as non-executive additional director and chairman with effect from July 3
- Reliance Capital: Acquired 22.08 percent stake for Rs 7 crore in Billionloans Financial Services Pvt. Ltd.
- Jet Airways: Rejects report about stake sale to Delta as speculative
- Dr. Lal Pathlabs: Wagner Ltd., one of the shareholders of the company, sold 21 lakh shares
Indian Oil Corporation
- LIC reduces its holding in the company by 0.39 percent or 1.89 crore equity shares
- Holding at the end of the June quarter stood at 7.34 percent compared to 7.73 percent in the March quarter
IndiGo to hold conference call with investors and analysts on July 6 to discuss Air India buyout proposal.https://t.co/mg5CACoGIv pic.twitter.com/usjyScd6t9
Omkar Speciality Chemicals
- Planning expansion by scaling up its activities in existing segments like pharmaceuticals
- Looking to penetrate segments like fragrances and flavours, food and beverages
- Products to have end application in the FMCG sector
- Also, planning suitable business acquisitions and planning to stake claim for intellectual property rights
Today's Nifty Call
Maharashtra scouting for ways to fund Rs 34,000-crore loan waiver.@SMungantiwar speaks to @ChitnisPurva.https://t.co/ZD35gGnMVo pic.twitter.com/Y4B04e0JiC
Brokerage Calls
- Bharti Infratel: Raised to 'Outperform' at IDFC Securities
- Larsen & Toubro: Spark Capital Advisors initiates coverage with 'Add' rating and a price target of Rs 1,803
- Persistent Systems: Cut to 'Hold' at HSBC with price target of Rs 660
- Ultratech Cement: Raised to 'Buy' at Reliance Securities
Source: Bloomberg
- Godrej Properties: Cut to 'Equalweight' at Morgan Stanley and price target raised to Rs 475 from Rs 433
- Just Dial: Morgan Stanley maintains 'Underweight' with price target of Rs 355
- Hero MotoCorp: JPMorgan maintains 'Neutral' with price target of Rs 3,800
- ICICI Prudential: BofAML maintains 'Buy' with price target raised to Rs 540 from Rs 466
JSW Steel gets shareholders' nod to raise over Rs 14,000 crore.https://t.co/dJOTI7yCAB pic.twitter.com/c3RpVPHKCN
F&O Set Up
- ITC: Open interest up 13 percent, fresh longs seen
- Ashok Leyland: Open interest up 21 percent, fresh longs seen
- Bharti Infratel: Open interest up 10 percent, fresh longs seen
- Eicher Motors: Open interest up 9 percent, fresh longs seen
- Page Industries: Open interest up 30 percent, fresh longs seen
Jaiprakash Associates is the only stock under an F&O ban.
Why Escorts failed to sell more tractors in June. @YatinMota reports.https://t.co/e3aDyYrQ1z pic.twitter.com/QkH2uq8Dcj
Media Reports
- Tata Chemicals: Set to exit fertiliser business with sale of Haldia unit. (Economic Times)
- ICICI Bank: Everstone backed Indostar eyes to buy 70 percent stake in ICICI Home Finance for Rs 2,000 crore. (Economic Times)
- ONGC: OVL buys 30 percent stake in Namibian Oil block from U.K.'s Tullow. (Mint)
- IDFC: Plans to raise Rs 10,000 crore for expansion of business. (PTI)
- Dr. Reddy's Laboratories: Expect lower sales in India during Q1 due to implementation of GST. (PTI)
Khadim India looks to raise Rs 50 crore via IPOhttps://t.co/h9jRUuqhtf
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