- Reliance Capital to list Life Insurance arm
- Franklin Templeton Mutual Fund buys stake in Cyient
- Motilal Oswal downgrades GAIL (India) to ‘Sell' from ‘Neutral'
- GDF International plans to sell entire 10 percent stake in Petronet LNG, sources say
- CLSA upgrades Indian steel stocks; Tata Steel target price upgraded to Rs 710
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, fell 0.12 percent to 9,684.
Your Thursday morning briefing.https://t.co/mDgNtGTwlq pic.twitter.com/bX0q3tkfM2
Here are the stocks to watch out for in today's session:
Reliance Capital
- To list Reliance Nippon Life Asset Management on the indices
- To initially offer 10 percent stake in the IPO and increase public shareholding to 21 percent by 2021
- Current assets under management for RNAM stand at Rs 3,58,059 crore
- Indiabulls Ventures: Capital investment into wholly-owned subsidiary IVL Finance has increased its net worth to Rs 1,000 crore. IVL Finance Ltd. will undertake consumer finance business
- Petronet LNG: GDF international is said to mull offloading its entire stake at a price range of Rs 417-440.
Cyient
- Franklin India Smaller Companies Fund buys 7.59 lakh shares or 0.67 percent stake at Rs 496 each
- Franklin Templeton Mutual Fund A/C Franklin India Prima Fund buys 7.59 lakh shares or 0.67 percent stake at Rs 496 each
- Carrier International Mauritius Ltd. sells 16 lakh shares or 1.4 percent stake at Rs 496.08 each
Persistent Systems
- ICICI Lombard General Insurance Company Ltd. buys 7.97 lakh shares or 1 percent stake at Rs 624 each
- Rama-Purushottam Foundation sells 8 lakh shares or 1 percent stake at Rs 624 each
HUL MD & CEO Sanjiv Mehta's FY17 remuneration stood at Rs 14.20 crore.https://t.co/BWiqiZVBWJ pic.twitter.com/bgIfIeEc95
Other Corporate News
- Bharat Wire Ropes: JM Financial Products and JM Financial Services increased their holdings in the company to 11.34 percent post a 1.15 percent stake buy through an off-market transaction
- Amtek Auto: To hold board meeting on June 10, 2017 to consider issue of shares on preferential basis
- Mahindra and Mahindra: Step-down subsidiary Mahindra Automotive North America incorporated wholly-owned subsidiary 'Mahindra Vehicle Sales and Services'
- Wheels India: Incorporated wholly-owned subsidiary 'WIL Car Wheels Ltd.'
- Fedders Lloyd Corporation: To change the name to Feeders Electric and Engineering Ltd. and trading symbol to FEDDERELEC with effect from June 13.
- Endurance Technologies: To undertake capacity expansion at its Chennai plant from the existing 8,161 million tonne to 12,250 million tonne for an investment of Rs 9.12 crore
- Anant Raj: NCLT directs company to call meeting of shareholders and creditors to consider and approve composite scheme of arrangements
- Cyient: Subsidiary to be the approved product supplier to UTC Aerospace Systems
- Edelweiss Financial Services: Issues perpetual bonds on private placement basis worth Rs 300 crore
- M&M Financial Services: To issue NCDs worth Rs 125 crore
- Prakash Industries: BNP Paribas Arbitrage buys 19.81 lakh shares or 1.4 percent stake at Rs 91.54 each
"I think the merger itself will only strengthen Indian banks," says @arunjaitley on PSU bank consolidation. https://t.co/rXspSeu6vh pic.twitter.com/ZFT7X8Qd88
Today's Nifty Call
Murthy can't ask for pay cuts to save jobs, says Mohandas Pai. @nsd308 reports.https://t.co/dBvfasbzH8 pic.twitter.com/OaZ2wn8K7t
Brokerage Calls
- Cadila Healthcare: Raised to 'Buy' at IDBI Capital Market
- Siyaram Silk Mills: Raised to 'Outperform' at Centrum Wealth
- Tata Consultancy Services: Cut to 'Reduce' at Nomura
Source: Bloomberg
Reliance Capital to list AMC arm in FY18, reports @alexandermats https://t.co/wkCWQGe4w6 pic.twitter.com/uyLsG1ExF1
Stocks In F&O Ban
- DLF
- GMR Infrastructure
- Indiabulls Real Estate
- Infibeam Incorporation
- Jaiprakash Associates
- Reliance Communications
Tata Sons gets Rs 10,000 crore from TCS buybackhttps://t.co/s8rRNWOn8a pic.twitter.com/CnURHhe0av
Media Reports
- Gujarat Pipavav Port: Put up for sale by APM Terminals. (Economic Times)
- TCS: Buyback made Tata Sons richer by Rs 10,000 crore. (Economic Times)
- Zensar Technologies: Sets up R&D centre in Pune Campus, plans one in the U.S. (Economic Times)
- Infosys: Drops long-term targets. Forms panel to advise CEO Vishal Sikka. (Mint)
- Tata Motors: JLR sales rise 1 percent in May. (Economic Times)
- Piramal Enterprises: To pump in Rs 1,100 crore in real estate firm Embassy Group for development of housing and commercial projects in Bengaluru, Chennai and Hyderabad. (PTI)
- Petronet LNG: Engie seeks $512 million stake sale in the company. (Bloomberg)
- Sunteck Realty: To consider stock split. (Bloomberg)
- HDIL: Central Bank of India seizes Kurla property after company fails to repay loan worth Rs 144 crore. (DNA Business)
.@MorganStanley Annual India Summit | Extent of RBI's inflation forecast cut came as a slight surprise: Chetan Ahyahttps://t.co/6uRgRBpNhp pic.twitter.com/q5Xc43ynNd
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