- Bajaj Hindusthan's account to be considered under S4A
- Syndicate Bank, Cadila Healthcare to raise funds
- Infibeam Incorporation to consider stock split
- Chennai Petroleum and four other stocks included in F&O
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,628.
Your Tuesday morning briefing.https://t.co/mUrn0RnJLk pic.twitter.com/WSOQGHMp1x
Here are the stocks to watch out for in today's session:
- Infibeam Incorporation: To consider stock split in its board meeting on July 13, 2017
- Tejas Networks: To list on the BSE and NSE today
- F&O Entrants: Chennai Petroleum, ICICI Prudential Life, Manappuram Finance, Repco Home Finance and SREI Infrastructure will be the new F&O entrants from June 30
- Syndicate Bank: Received shareholder approval to raise additional capital via equity for an amount not exceeding Rs 3,500 crore
- Infosys: Investigations find no evidence of wrongdoing in Panaya deal. Vishal Sikka exercised 20 percent RSUs numbering 24,812 RSUs
- Bajaj Hindusthan: JLF decides that the company's loan account will be taken up for consideration under the S4A scheme. Proposal for sale of co-generation power business of the company has been shelved
- Cadila Healthcare: Board approves raising funds worth Rs 18,500 crore
- Max Financial Services: HDFC Life, Max prepare new structure for merger. (Financial Express)
Natco Pharma
- Gets U.S. FDA nod for Azacitidine Powder
- Breckenridge to partner Natco in this drug
- Analysts see $8-10 million sales coming in for Natco
SpiceJet is the world's top-performing airline.@SantanuChakra @anuragkotoky reporthttps://t.co/01bTj3sPn2 pic.twitter.com/fP1z8WSIMM
Other Corporate Announcements
- Lupin: Founder and Chairman, Desh Bandhu Gupta passes away
- Reliance Industries: Seeks shareholder approval to issue NCDs worth Rs 25,000 crore
- CEAT: Board approves investment of Rs 7 crore in Tyresnmore Online Pvt. Ltd. in one or more tranches
- BHEL: Becomes highest R&D spender in Engineering and Manufacturing sector. Registers significant increase in intellectual capital
- Greaves Cotton: Liquidated a step-down subsidiary of the company called Greaves Cotton Middle East
- Amtek Auto: Board approves resignation of Vice-Chairman and Managing Director John Flintham
- Tata Steel: Sold 8.35 crore shares of Tata Motors to Tata Sons at Rs 452.8 per share
- Tata Power: Proposals on Mundra at an explanatory stage
- Pioneer Distilleries: Gets subsidy worth Rs 120 crore from Government of Maharashtra
- Bombay Burmah: Issued commercial paper worth Rs 50 crore
- Grasim: Fixes July 20, 2017 for the demerger of the financial services business of Grasim to Aditya Birla Capital Ltd. Grasim shareholders to get 7 shares of ABCL for every 5 Grasim shares
- DPSC: Agreed to co-develop 12 MW of solar assets in Uttarakhand with Punj Lloyd Infrastructure
- Crest Ventures: Acquired 6 lakh equity shares of subsidiary Crest Wealth Management for Rs 43.2 lakh to increase its total holding to 62 percent from 52 percent
- NOCIL: Board approves sale of 4.71 lakh share of Navin Flourine International
- Uniply Industries: To explore business opportunities like civil construction works for residential and commercial complexes and real estate developers and contractors
- Suzlon Energy: Approves allotment of 79.7 lakh shares on conversion of 2,046 FCCBs at a conversion price of Rs 15.46
- Sterlite Technologies: Selected as the master system integrator for Kakinada Smart City Project to design, build and manage the city over a period of six years
- Prakash Industries: Issues 2.65 lakh equity shares as per the restructuring terms agreed by the FCCB holders
There's no smoke without fire, says Infosys shareholder at AGM.@nsd308 @KaushikVaidya reporthttps://t.co/dIgK5EtVDw pic.twitter.com/xHMqjCZUFI
Today's Nifty Call
Debt-to-equity ratio of BSE 500 companies lowest in six years at 0.79.https://t.co/4KcEP1Auyc pic.twitter.com/600H3FTeDQ
U.S. FDA Approvals
- Cadila Healthcare gets nod for Entecavir Oral Tablets
- Taro gets nod for Ibuprofen Oral Suspension
- Glenmark gets nod for Indomethacin Extended Release Oral Capsule
Bulk Deals
- Max India: Xenok Ltd. sold 1.3 crore shares or 4.9 percent stake at Rs 155.03 which were bought by HDFC Standard Life Insurance
- Laurus Labs: Local Government Superannuation Scheme sold 5.63 lakh shares or 0.5 percent stake at Rs 607.05 each which were bought by Morgan Stanley
- IRB InvIT Fund: Trust Capital Service India sold 1.25 crore shares or 5 percent stake at an average price of Rs 98.96 each which were bought by Reliance Mutual Fund
- Reliance Capital: Natwest Bank bought 14 lakh shares or 0.55 percent stake at Rs 642.1 each
- Ganesh Housing Corporation: JPMSL A/C Copthall Mauritius Investment sold 4.65 lakh shares or 0.95 percent stake at Rs 113.75 each which were purchased by Gautam Prakash
Himatsingka Seide
- Promotor Ajoy Kumar Himatsingka sold 23.6 lakh shares or 2.4 percent stake at Rs 350.01 each
- Bihar Mercantile Union Ltd. bought 22.2 lakh shares or 2.3 percent stake at Rs 350 each
RIL seeks to cap stake of any investor at 5%, reports @sajeetkm.https://t.co/q9jupJNTie pic.twitter.com/Vl8TeUTzsn
Brokerage Calls
- Citi on NMDC: Downgrades to 'Sell' from 'Neutral' with price target of Rs 99 from Rs 125
- Credit Suisse on Bharat Financial Inclusion: Maintains 'Outperform' with price target of Rs 800
- BofAML on HDFC Bank: Raises price target to Rs 2,000 from Rs 1,800
- BofAML on YES Bank: Raises price target to Rs 2,200 from Rs 2,100
- United Spirits: Goldman Sachs upgrades to 'Buy' with price target of Rs 2,738
- JSW Steel: Cut to 'Equalweight' at Morgan Stanley with price target of Rs 214
Fortis Healthcare promoters have sold a large chunk of their holdings in the open market.https://t.co/TO3r2vz9XH pic.twitter.com/weY6Nlh0zA
Stocks In F&O Ban
- Bank of India
- DLF
- Fortis Healthcare
- GMR Infrastructure
- HDIL
- Indiabulls Real Estate
- IFCI
- India Cements
- Infibeam Incorporation
- Jaiprakash Associate
- Oriental Bank of Commerce
- Reliance Communications
- Ujjivan Financial Services
- Wockhardt
Banks may have to take 60% haircut on 12 largest NPAs: Crisil.https://t.co/FWAJS2mJcX pic.twitter.com/veeCS6yhau
Media Reports
- HDFC: Seeks shareholder nod to raise funds up to Rs 85,000 crore. (Business Standard)
- ONGC: Turns to GSPC undersea infrastructure for KG Gas output. (PTI)
- Vedanta: Will invest $6 billion in the company says Anil Agarwal. (Business Standard)
- SAIL: Eyes South Africa, Canada for coal import. (Business Standard)
- HPCL: Eyes stake in Russian oil fields. (PTI)
- Adani Power: Says exploring various options and engaged with stakeholders for steps on Mundra plant. (Bloomberg)
- M&M Financial Services: To meet on June 29 to consider bond issue. (Bloomberg)
- Tata Power: Exploring Mundra UMPP stake sale to power procurers. (Bloomberg)
#GST Countdown: People keep complaining; it doesn't make sense, says Adi Godrej.https://t.co/6KeoL8USkB pic.twitter.com/RSI2XW22Kv
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