Stocks To Watch: Adani Power, Reliance Communications, TVS Motor

The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, gained 0.43 percent to 9,674.

Your Friday morning briefing.https://t.co/KFIpU9bKBw pic.twitter.com/ahmPYn8AYQ

Here are the stocks to watch out for in today's session:

May Auto Sales

Hero MotoCorp

• May sales up 8.7 percent at 6.33 lakh units from 5.83 lakh units year-on-year
• Commences commercial production in the manufacturing facility at its subsidiary HMCL Niloy Bangladesh Ltd.
• Plant located at Jessore in Bangladesh has an installed capacity of 1.5 lakh vehicles per annum

Having lined up a slew of new launches across various segments, the company is confident of maintaining the growth trajectory in the coming months.

Statement From Hero MotoCorp

TVS Motor Company

• Sales in May rise 16 percent to 2,82,007 units from 2,43,783 units last year
• Three-wheeler sales up 20.5 percent to 6,581 units
• Exports up 14.3 percent to 40,617 units

Bharti Airtel, Telenor India one step closer to a merger.https://t.co/IcfoT45cok

Reliance Communications

• Fitch downgrades company's long-term IDRs to CCC from B+
• Fitch also downgraded the rating on $300 million 6.5 percent senior secured notes due in 2020 to CCC/RR4 from B+/RR4
• Reliance Ornatus Enterprises and Ventures Pvt. Ltd. pledged 2.25 crore equity shares or 0.9 percent of the total share capital
• Company denied defaulting on Rs 90 crore interconnect charges payment to Bharti Airtel

• Bayer CropScience: To consider buyback of shares at a board meeting on June 6
• Dena Bank: To hold AGM on June 27 to consider isue of equity shares worth Rs 1,800 crore through qualified institutional placement (QIP)
• Coal India: Output in May down 4.3 percent year-on-year to 40.74 million tonnes
• NBCC: Successfully e-auctioned upcoming commercial space at Nauroji Nagar, New Delhi which would generate inflows worth Rs 11,000 crore at various stages

RPP Infraprojects

• Promoter Arul Sundaram Nithya sold 22.5 lakh shares or 10 percent stake at Rs 226.02 each
• Sundaram MF Infrastructure Advantage Fund bought 5.57 lakh shares or 2.5 percent stake at Rs 225.5 each
• Seven Hills Capital bought 1.5 lakh shares or 0.7 percent stake at Rs 226.03 each
• Morgan Stanley Asia Singapore PTE bought 2.86 lakh shares or 1.3 percent stake at Rs 225.44 each

Other Corporate News

• Bharti Airtel: Receives SEBI and Stock Exchange approval for proposed merger with Telenor India
• Reliance Capital: Reliance Inceptum Pvt. Ltd. and Reliance Infrastructure Consulting and Engineers Pvt. Ltd. pledged an additional 1.27 crore equity shares or 5 percent of the total share capital
• HDFC: Acquired 15 percent stake in First Housing Finance (Tanzania) Ltd. for $1.5 million
• Fortis Healthcare: Fortis Healthcare Holdings Pvt. Ltd. pledged an additional 27.5 lakh equity shares or 0.53 percent of the total share capital
• Adani Power: To hold a meeting on June 6 to consider the sale of Mundra Power Generating business to its subsidiary Adani Power (Mundra) Ltd.
• Jayant Agro: To consider stock split and fund raising on June 16, 2017
• Grasim: NCLT approves composite scheme of arrangement with Aditya Birla Nuvo
• Reliance Communication: Fitch downgrades company's long-term IDRs to 'CCC' from 'B+'
• Hindustan Copper: Inaugurated copper mine in Rajasthan with an estimated production capacity of 6 lakh tonnes per annum

Max Financial Services

• Liquid Investment and Trading Company Pvt. Ltd. pledged an additional 10,01,000 equity shares or 0.37 percent of the total share capital
• Max Ventures Investment Holdings Pvt. Ltd. pledged an additional 5.98 lakh equity shares or 0.22 percent of the total share capital

Reliance Communications approaches 3 Chinese banks for loan waiver.https://t.co/shUWRTiBt1 pic.twitter.com/hlcz6PVL76

Today's Nifty Call

India bull market persists even as mid caps take breather.https://t.co/hqs38wQNI8 pic.twitter.com/Sh4VShjDS0

Brokerage Calls

• Castrol India: Cut to 'Accumulate' at Dolat Capital Market
• Cyient: Phillip Securities initiates coverage on the stock with a 'Buy' rating and a price target of Rs 570
• Gujarat Fluorochemicals: Cut to 'Outperform' at Batlivala & Karani
• J Kumar Infraprojects: Cut to 'Hold' at Anand Rathi Securities
• United Spirits: Cut to 'Underperform' at Batlivala & Karani
• Mahindra and Mahindra: Raised to 'Accumulate' at Arihant Capital
• Steel Authority of India: Raised to 'Hold' at Reliance Securities

Source: Bloomberg

Corporate deleveraging to remain slow in FY18.https://t.co/HUQq5tbCQs pic.twitter.com/L4CBLwpYpE

Bulk Deals

Kalyani Investment Company

• Sundaram Trading and Investment bought 51,200 shares or 1.2 percent stake at Rs 1,948.86 each
• ICICI Prudential Mutual Fund A/C - ICICI Prudential Dynamic Plan sold 49,618 shares or 1.1 percent stake at Rs 1,950 each

Nath Bio-Genes

• Agritech India sold 5.17 lakh shares or 3.2 percent stake at Rs 231.23 each
• Alpana Sanjay Dangi bought 4.97 lakh shares or 3.1 percent stake at Rs 231 each

• Ramkrishna Forgings: Antara India Evergreen Funds bought 2.26 lakh shares or 0.8 percent stake at Rs 459.73 each sold by Nomura Singapore
• PG Electroplast: Reeta Goel bought 1.31 lakh shares or 0.8 percent stake at Rs 198.94 each
• Stampede Capital: Snowhite Commodity Trade bought 22 lakh shares or 1 percent stake at Rs 19.7 each
• Kisan Mouldings: TCG Funds bought 3.5 lakh shares or 1.2 percent stake at Rs 92 each

Why did Power Finance Corporation report an unexpected loss of Rs 3410 crore in Q4? @dugalira finds out. https://t.co/n2IyoiPIAM

Stocks In F&O Ban

• DLF
• Infibeam Incorporation
• Jaiprakash Associates
• Reliance Communications
• Reliance Capital

Narayana Murthy asks senior executives to take pay cuts to stop layoffs in IT sectorhttps://t.co/4JZaMUE8Pv pic.twitter.com/Vd1bhV175J

Media Reports

Reliance Communications

• Has approached three of its Chinese lenders - China Development Bank, Industrial and Commercial Bank of China and Export-Import Bank of China seeking a waiver on the interest payable on loans worth close to $1 billion till September
• The company has borrowed $925 million from these banks and the term ends in 2019

Source: Bloomberg

• Zojila Tunnel Project: Reliance Infrastructure, Larsen & Toubro, IL&FS Engineering and Construction and Jaiprakash Power Ventures have filed bids for the project in Jammu & Kashmir. (Business Standard)
• ONGC: ONGC Videsh plans facility at its Russian site to enhance Crude oil output. (Financial Express)
• SREI Infra: Hopes to sign JV worth $500 million with Russia's VEB. (Financial Express)
• Syndicate Bank: To raise Rs 3,500 crore through equity dilution. (Mint)
• SBI: Government asks the bank to bring in a strategic investor for Arcil. (Mint)
• Bank of India: Eastern Zone targets retail loans, NPA reduction. (PTI)
• Dwarikesh Sugar: To consider stock split. (Bloomberg)

#BQOpinion | After sharp decline in May, what could June have in store for pharma stocks, asks @_nirajshah.https://t.co/YqvFQqwL4q pic.twitter.com/wCBrEIWvHh

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