- Macquarie rates Ceat as ‘Outperform'
- Cipla to sell complete stake in Yemini subsidiary
- Sunteck Realty board approves stock split
- Ujaas Energy wins order
- SBI closes qualified institutional placement issue
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,671.
Your Friday morning briefing.https://t.co/QQbq8Ctztg pic.twitter.com/roEoSaFiPD
Here are the stocks to watch out for in today's session:
State Bank of India
- Closes QIP issue that opened on June 5
- Raises almost Rs 15,000 crore through institutional placement
- To issue 52.2 crore equity shares at a price of Rs 287.25 each
- Had originally planned to sell 54.4 crore shares in the band of Rs 275.76-287.25
Maquarie On CEAT
- Initiates coverage with an 'Outperform' rating
- Price target of Rs 2,250 per share
Says
- Tyre maker has a stronger brand and wider reach
- Healthy volume growth led by margin segments
- Industry's pricing response to cost increases is positive
- Can potentially generate 100 percent returns over three years
- Cipla: To sell its entire 99 percent stake in Yemini subsidiary Al Jabal to Khalil Ghaleb Ali Al Jabal
- Sunteck Realty: Board approves stock split in the ratio of 1:2
- Ujaas Energy: Bags order of 1 mega watt peak (MWp) solar power plant from Numaligarh Refinery Ltd.
- Pidilite Industries: U.S. unit of the company to sell cyclo division to Niteo Products
- Sagar Cement: Sales in May up 8.8 percent at 2,03,925 million tonne from 1,87,422 million tonne year-on-year
Consumers will be informed about the daily fuel prices through newspapers & registered mobile numbers.https://t.co/0zA6cuNRRk
Other Corporate News
- IndusInd Bank: Raises $225 million loan from OPIC for its MSME lending programmes
- Hindustan Copper: India Resources Ltd. terminates Jharkhand mine contract with the company
- Indiabulls Real Estate: Board approves issue of NCDs worth Rs 75 crore on private placement basis
- Zee Media: Receives approval from NCLT for amalgamation between Zee Media, Diligent Media, Mediavest India, Pri-Media Services and Maurya TV
- Repco Home Finance: To issue NCDs worth Rs 100 crore on a private placement basis
- Bombay Burmah Trading Corporation: Redeemed Commercial Papers worth Rs 50 crore
- Greenply Industries: Subsidiary Greenply Gabon SA, commenced commercial production of Veneer
- Hester Biosciences: Board approves investment of $3 million via equity in the company's African subsidiary
- Next Mediaworks: Subsidiary Next Radio to transfer its Ahmedabad FM Radio business to its wholly-owned subsidiary Syngience Broadcast
- IFB Agro Industries: Successfully incorporates wholly-owned subsidiary 'IFB Agro Marine (FZE)'
.@TheOfficialSBI closes Rs 15,000-crore QIP. @azmanusmani
reportshttps://t.co/5Vms7ixsoh pic.twitter.com/YFcapIUaQyToday's Nifty Call
#SurfsUp with @AgamVakil | Nifty poised to move towards 9,800: @sanctum_wealth's Ashish Chaturmohta (@AshishChatur)https://t.co/nugOCxCVt2 pic.twitter.com/grnRS3OEtw
Brokerage Calls
- Bayer CropScience: CIMB initiates coverage on the stock with a 'Add' rating and a price target Rs 5,532
- Infosys: Raised to 'Buy' at HSBC with price target of Rs 1,150
- Natco Pharma: Antique Stock Broking initiates coverage on the stock with a 'Buy' rating and price target of Rs 1,175
- Rallis India: CIMB initiates coverage on the stock with a price target of Rs 300
- UPL: CIMB initiates coverage on the stock with a 'Reduce' rating and price target at Rs 650
- West Coast Paper Mills: Cut to 'Accumulate' at SKP Securities
Source: Bloomberg
Online banking will kill physical banks in 5-6 years, says @NITIAayog CEO.https://t.co/7eO7ZTa1nS pic.twitter.com/mKrsY6V1rb
Key Bulk Deals
Petronet LNG
- GDF International sold 7.5 crore shares or 10 percent stake at an average price of Rs 421.63 each
- Citigroup Global Markets Mauritius bought 1.05 crore shares or 1.4 percent stake at Rs 421 each
- Stichting Depositary APG Emerging Markets Equity Pool bought 39.26 lakh shares or 0.5 percent stake at Rs 421 each
Pennar Industries
- Franklin India Smaller Companies Fund bought 24.94 lakh shares or 2.1 percent stake at Rs 52.25 each
- Eight Capital Master Fund Ltd. sold 32.73 lakh shares or 2.7 percent stake at Rs 52.51 each
Sinclair Hotels
- Promoter Sujata Suchanti and pramina Suchanti bought 2.6 lakh shares or 4.7 percent stake at Rs 305 each
- Xander Investment Holding X Ltd. sold 3.11 lakh shares or 5.6 percent stake at Rs 305.64
- Websol Energy: Mangal Savitri Bizcon bought 1.35 lakh shares or 0.6 percent stake at Rs 123.71 each
- Veto Switchgear Cable: Kuber India Fund bought 1 lakh shares or 0.55 percent stake at Rs 171.07 each
KM Birla blames Reliance Jio for ‘unprecedented disruption' in telecom.https://t.co/CdsgsDaXTR pic.twitter.com/LkxUH3CtoF
Stocks In F&O Ban
- DLF
- GMR Infrastructure
- IndiaBulls Real Estate
- Infibeam Incorporation
- Jaiprakash Associates
- Oriental Bank of Commerce
- Reliance Communications
RBI may direct banks on stressed accounts: Rating Agencies. @visshy_it reports.https://t.co/kK0U3dd2o7 pic.twitter.com/8J3MjrFt2a
Media Reports
- Maruti: Plans to spend Rs 1,000 crore on land acquisitions this year. (Economic Times)
- HDFC Bank: Reconsiders move to charge UPI transactions. (Economic Times)
- HDFC: Merger with Max fails to get IRDA approval. (Mint)
- IDBI Bank: Sets up department to manage bad loans. (PTI)
- Religare Enterprises: NCLT calls for meeting of company, subsidiaries in July for merger. (PTI)
- BEML: Says order book at Rs 7,488 crore as of May 31, 2017. (Bloomberg)
- GVK Power: Faces Australian coal mine hurdles along with Lanco. (Business Standard)
Revenue losses was the reason why Kerala government reversed liquor ban. @azmanusmani reportshttps://t.co/vy6C1AiqX1
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