- Jewellery, Footware stocks likely to react on GST rates
- Reliance Communicatons gets seven months time from lenders to repay debt
- SpiceJet profit falls 61 percent year-on-year on higher fuel cost
- RBI initiates Prompt Corrective Action on Dena Bank
- Can Fin Homes to consider stock split
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, gained 0.24 percent to 9,668.
Your Monday morning briefing.https://t.co/Bxdue40mDr pic.twitter.com/SkLIxxvG7C
Here are some of the stocks to watch out for in today's session:
- Titan, PC Jeweller, TBZ: GST council fixes a tax rate of 3 percent on gold and gold jewellery. Silver and processed diamonds to be taxed at 3 percent too
- Reliance Communications: Lenders give company time till December 2017 to repay Rs 45,733 crore gross debt
- Dena Bank: RBI initiates Prompt Corrective Action owing to higher Net NPA and negative Return on Assets
SpiceJet (Q4, YoY)
- Net profit down 61 percent to Rs 41.6 crore
- EBITDAR down 7.3 percent to Rs 315.2 crore
- EBITDAR Margin down to 19.4 percent from 23 percent
- Relaxo, Bata, Liberty Shoes: GST council fixes a tax rate of 5 percent for footware under Rs 500. The current rate stands at 9.5 percent. For footware priced above Rs 500, the rax rate stands at 18 percent from 12 percent.
- GVK Power: Board approves to sell 3.84 crore shares or 10 percent stake in Bengaluru International Airport which was held through its subsidiary to Fairfax India for Rs 1,290 crore
- NTPC: Commissioned 117 out of 250 MW of Mandsaur Solar Power Project
- Can Fin Homes: To consider stock split on June 23
VST Tillers
- Power tiller sales down 5 percent in May 2017 to 1,857 units year-on-year
- Tractor sales down 1 percent in May 2017 at 800 units year-on-year
TCS' H-1B visa applications now a third of 2015 levels.https://t.co/Bwnhzhv0AB pic.twitter.com/pxXddDSYuH
Other Corporate Announcements
Suzlon
- Allotted 5.62 crore equity shares on conversion of bonds at a conversion rate of Rs 15.46 per share
- Also gets NCLT nod for composite scheme of amalgamation between SE Blades, Suzlon Wind International, SE Electricals and Suzlon Global Services with itself
- Tata Communications: Signs agreement with Batelco, Bahrain's leading digital communications solutions provider to extend their global data centre reach, cloud and connectivity solutions to their customers
- Corporation Bank: Seeks shareholder nod to raise capital up to Rs 3,500 crore through equity
- Sunteck Realty: Seeks shareholder nod to raise Rs 2,000 crore of which not more than Rs 1,350 crore will be through NCDs.
- Satin Creditcare: To raise Rs 100 crore via commercial papers
- Linde India: Signs business combination agreement with Praxair Inc.
- Mawana Sugars: Agreed for one-time settlement of its debt worth Rs 43.21 crore owned to State Bank of Hyderabad
- Alankit: Promoters make open offer to acquire 3.71 crore shares or 26 percent stake at Rs 33.3 per share
Reliance Jio tops the 4G network speed chart.https://t.co/IKg837rfMW pic.twitter.com/uybbxYmZiO
Today's Nifty Quote
India's top 7 telecommunications companies saw their total debt burden rise 20%. @soumeet_sarkar reportshttps://t.co/BQ8vjed0DD pic.twitter.com/Mlk956W58a
Bulk Deals
- Sayaji Hotels: Promoter Kayum Razak Dhanani bought 1.19 lakh shares or 0.7 percent stake at Rs 293.2 each sold by Liberty Construction and Leasing Ltd.
- JVL Agro: Eriska Investment Fund bought 83 lakh shares or 4.95 percent stake at Rs 18 each sold by Lotus Global Investments
- Stampede Capital: Promoter Usha Meenavalli sold 19.4 lakh shares or 0.85 percent stake at Rs 19.7 each
- Lovable Lingerie: Param Value Investments sold 1.23 lakh shares or 0.7 percent stake at Rs 241.19 each
- RPP Infra Projects: Sree Saravana Engineering Bhavani Pvt. Ltd. bought an additional 2.38 lakh shares or 1.06 percent stake at Rs 232.4 each
- Excel Realty and Infra: Arcadia Share and Stock Brokers Pvt. Ltd. bought 3.3 lakh shares or 1.05 percent stake at Rs 37.35 each
Why Anil Ambani's richer despite $519 million telecom routhttps://t.co/6JTlhgaMkg pic.twitter.com/DG41kJTJvr
Brokerage Calls
- Hero MotoCorp: Cut to 'Neutral' at HDFC Securities with price target of Rs 3,740
- Maruti Suzuki: Cut to 'Neutral' at HDFC Securities with price target of Rs 7,070
- PVR: Raised to 'Accumulate' at Dolat Capital Market
Basant Maheshwari's (@BMTheEquityDesk) big bet housing finance companies. @AgamVakil https://t.co/rdX4IYh63w pic.twitter.com/XP1YDpuBXc
Stocks In F&O Ban
- DLF
- Infibeam Incorporation
- Jaiprakash Associates
- Reliance Communications
- Reliance Capital
#WhereAreTheJobs: Real estate, retail, logistics sectors may take the lead in job creation in India.https://t.co/pYuFbXaU60
Media Reports
- HUL: To unveil innovations in the premium laundry segment. (Economic Times)
- Bharti Airtel: Plans to woo start-ups to digital platform. (Economic Times)
- TCS: H1-B visa applications now at one-third of 2015 levels. (PTI)
- Federal Bank: To consider raising up to Rs 4,000 crore via debt options. (Bloomberg)
- Healthcare Global: In pact with pinnacle hospitals to acquire its oncology unit by share purchase of Rs 1.8 crore. (Bloomberg)
Banks not yet prepared for #GST implementation.https://t.co/dPsm45YHzE pic.twitter.com/chh4XCOCAI
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