Stocks To Watch
• Fineotex Chemical: Approved raising up to Rs 200 crore by way of issuance of securities, through private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof.
• Gujarat Gas: Board of Directors have approved the acquisition of City Gas Distribution business for Amritsar and Bhatinda geographical areas from Gujarat State Petronet for Rs 163.31 crore. The acquisition is expected to be completed within 45-60 days.
• NMDC: Total production in May up 21.83% to 2.79 MT from 2.29 MT year-on-year. Total sales up 29.41% to 3.30 MT from 2.55 MT YoY.
• Patel Engineering: The company and its consortium lenders have completed the execution of the necessary agreements, deeds, security creation, undertakings, and other relevant documents for the implementation of the One Time Resolution Plan on May 31. The company had availed Covid relief from the consortium of lenders in the form of OTR.
• Indiabulls Housing Finance: Conversion price of 2026 USD Notes changed to Rs 230.14 per share.
• Reliance Industries: To hold annual shareholders’ meeting on June 24 via video conference; sets June 14 record date for dividend
• Jain Irrigation: Says its unit amends Debt Restructuring Support Pact
• Earnings: Motherson Sumi Systems, PVR, Muthoot Finance, MTAR Technologies, Panacea Biotec, Ratnamani Metals & Tubes
May Auto Sales
• Hero MotoCorp: Overall sales down 51% at 1,83,044 lakh units Vs 3,72,285 units. Motorcycle sales down 47.33% at 1,78,706 lakh units Vs 3,39,329 lakh units. Exports down 20.85% at 23,483 units Vs 29,671 units.
• Eicher Motors: Total Royal Enfield sales down 48.78% at 27,294 units Vs 53,298 units. Exports up 60% at units 7,221 Vs 4,509 units.
• Ashok Leyland: Total vehicle sales down 61.64% at 3,199 units Vs 8,340 units. Domestic sales down 65.60% at 2,738 units Vs 7,961 units.
• Fineotex Chemical: Approved raising up to Rs 200 crore by way of issuance of securities, through private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof.
• Gujarat Gas: Board of Directors have approved the acquisition of City Gas Distribution business for Amritsar and Bhatinda geographical areas from Gujarat State Petronet for Rs 163.31 crore. The acquisition is expected to be completed within 45-60 days.
• NMDC: Total production in May up 21.83% to 2.79 MT from 2.29 MT year-on-year. Total sales up 29.41% to 3.30 MT from 2.55 MT YoY.
• Patel Engineering: The company and its consortium lenders have completed the execution of the necessary agreements, deeds, security creation, undertakings, and other relevant documents for the implementation of the One Time Resolution Plan on May 31. The company had availed Covid relief from the consortium of lenders in the form of OTR.
• Indiabulls Housing Finance: Conversion price of 2026 USD Notes changed to Rs 230.14 per share.
• Reliance Industries: To hold annual shareholders’ meeting on June 24 via video conference; sets June 14 record date for dividend
• Jain Irrigation: Says its unit amends Debt Restructuring Support Pact
• Earnings: Motherson Sumi Systems, PVR, Muthoot Finance, MTAR Technologies, Panacea Biotec, Ratnamani Metals & Tubes
May Auto Sales
• Hero MotoCorp: Overall sales down 51% at 1,83,044 lakh units Vs 3,72,285 units. Motorcycle sales down 47.33% at 1,78,706 lakh units Vs 3,39,329 lakh units. Exports down 20.85% at 23,483 units Vs 29,671 units.
• Eicher Motors: Total Royal Enfield sales down 48.78% at 27,294 units Vs 53,298 units. Exports up 60% at units 7,221 Vs 4,509 units.
• Ashok Leyland: Total vehicle sales down 61.64% at 3,199 units Vs 8,340 units. Domestic sales down 65.60% at 2,738 units Vs 7,961 units.
Dividend Updates
👉🏻Dhunseri Ventures Ltd board recommends dividend of Rs. 2.50
👉🏻Bigbloc Construction Ltd Board approves final dividend of Rs. 0.25
👉🏻Motherson Sumi Systems Limited board recommends dividend of Rs. 1.50
👉🏻NGL Fine-Chem Ltd Board approves final dividend of Rs. 1.75
👉🏻ITC Ltd Board approves Dividend of Rs. 5.75
👉🏻Gujarat Gas Ltd Board recommends Dividend of Rs. 2
👉🏻Radico Khaitan Limited Board recommends Dividend of Rs. 2.40
👉🏻Dhunseri Ventures Ltd board recommends dividend of Rs. 2.50
👉🏻Bigbloc Construction Ltd Board approves final dividend of Rs. 0.25
👉🏻Motherson Sumi Systems Limited board recommends dividend of Rs. 1.50
👉🏻NGL Fine-Chem Ltd Board approves final dividend of Rs. 1.75
👉🏻ITC Ltd Board approves Dividend of Rs. 5.75
👉🏻Gujarat Gas Ltd Board recommends Dividend of Rs. 2
👉🏻Radico Khaitan Limited Board recommends Dividend of Rs. 2.40
*Stocks To Watch*
• Axis Bank: Says report of Spandana Sphoorty buy speculative.
• Reliance Infrastructure: Approved fundraising of Rs 550.56 crore via preferential allotment to promoter group and Varde Investment Partners. The company will allot up to 8.88 crore shares or warrants convertible into equivalent number of shares. Funds to be utilised for 'long term resources, for general corporate purposes, fund future growth and also to reduce debt'.
• Punjab National Bank: To exit shareholding in Canara-HSBC-OBC life insurance venture in 12-18 months, said MD & CEO, CH Mallikarjuna Rao. Bank had been given forbearance till March 31, 2021, to exit second insurance business by the insurance regulator. Board has decided to exit the second business now that the merger process has been completed. PNB to continue holding its stake in PNB Metlife.
• RBL Bank: RBI has approved the reappointment of Vishwavir Ahuja as the MD and CEO of the bank for a period of one year effective June 30. Ahuja has been MD & CEO of RBL Bank since 2010.
• Bajaj Finance: Bounce rate in the April-June quarter is 1.08x of the rate in January-March due to the severity of the second wave, the company said. Expects gross and net NPAs to be higher in Q1 and Q2 due to collections constraints. The company expects incremental credit cost of Rs 1,100-1,300 crore than planned credit costs in FY22. Bajaj Finance's B2B and auto finance businesses were worst hit due to lockdown in April and May. Business volumes in these two businesses dropped to 70% of planned volumes in April and further dropped to 40% in May. The company estimates Rs 4,000-5,000 crore worth impact on AUM growth plan in FY22, with a higher impact in the first quarter.
• Jammu & Kashmir Bank: Approved raising up to Rs 500 crore by issue of equity shares through preferential allotment to Government of Jammu & Kashmir.
• Force Motors: The company's total production in May stood at 1,306 units. It reported domestic sales of 1,306 units and exports of 154 units.
• NHPC: Incorporated a joint venture company with Jammu and Kashmir State Power Development Corporation called Ratle Hydroelectric Power Corporation on June 1. The JV will implement Ratle Hydro-electric Project (850 MW) in the Chenab River Basin. NHPC will hold a 51% stake in the JV.
• Equitas Small Finance Bank: Collection efficiency in May stood at 77.84% compared to April’s 105.16%. Billing efficiency stood at 66.97% compared to April’s 84.68%.
• Welspun Corp: American Petroleum Institute has granted a license to manufacture SAWH pipes as per API specification 5L and to apply API monogram on the pipes effective May 26. This will help the company to cater to the needs of the Indian oil and gas market.
• Mishra Dhatu Nigam: Allotted 1000 commercial papers of Rs 5 lakh each aggregating to Rs 50 crore to Union Bank of India on a private placement basis.
• REC: Transferred entire shareholding of Fatehgarh Bhadla Transco and Sikar New Transmission-- the project-specific SPVs of the company-- at par value along with all their assets and liabilities to Power Grid Corporation of India on June 4.
• Ganesha Ecosphere: A major fire accident took place at the company's Kanpur Polyester Staple Fiber Unit on June 4 at around 3.30 am. No injuries were reported. The fire has caused major damage to the building, machinery, raw material and finished goods, the company said.
• Earnings: MRF, Central Bank Of India, Union Bank Of India, Mrs. Bectors Food Specialities, The New India Assurance Company, Dynamatic Technologies, Fairchem Organics, Jubilant Ingrevia, Seamec, SMC Global Securities, Yuken India
• Axis Bank: Says report of Spandana Sphoorty buy speculative.
• Reliance Infrastructure: Approved fundraising of Rs 550.56 crore via preferential allotment to promoter group and Varde Investment Partners. The company will allot up to 8.88 crore shares or warrants convertible into equivalent number of shares. Funds to be utilised for 'long term resources, for general corporate purposes, fund future growth and also to reduce debt'.
• Punjab National Bank: To exit shareholding in Canara-HSBC-OBC life insurance venture in 12-18 months, said MD & CEO, CH Mallikarjuna Rao. Bank had been given forbearance till March 31, 2021, to exit second insurance business by the insurance regulator. Board has decided to exit the second business now that the merger process has been completed. PNB to continue holding its stake in PNB Metlife.
• RBL Bank: RBI has approved the reappointment of Vishwavir Ahuja as the MD and CEO of the bank for a period of one year effective June 30. Ahuja has been MD & CEO of RBL Bank since 2010.
• Bajaj Finance: Bounce rate in the April-June quarter is 1.08x of the rate in January-March due to the severity of the second wave, the company said. Expects gross and net NPAs to be higher in Q1 and Q2 due to collections constraints. The company expects incremental credit cost of Rs 1,100-1,300 crore than planned credit costs in FY22. Bajaj Finance's B2B and auto finance businesses were worst hit due to lockdown in April and May. Business volumes in these two businesses dropped to 70% of planned volumes in April and further dropped to 40% in May. The company estimates Rs 4,000-5,000 crore worth impact on AUM growth plan in FY22, with a higher impact in the first quarter.
• Jammu & Kashmir Bank: Approved raising up to Rs 500 crore by issue of equity shares through preferential allotment to Government of Jammu & Kashmir.
• Force Motors: The company's total production in May stood at 1,306 units. It reported domestic sales of 1,306 units and exports of 154 units.
• NHPC: Incorporated a joint venture company with Jammu and Kashmir State Power Development Corporation called Ratle Hydroelectric Power Corporation on June 1. The JV will implement Ratle Hydro-electric Project (850 MW) in the Chenab River Basin. NHPC will hold a 51% stake in the JV.
• Equitas Small Finance Bank: Collection efficiency in May stood at 77.84% compared to April’s 105.16%. Billing efficiency stood at 66.97% compared to April’s 84.68%.
• Welspun Corp: American Petroleum Institute has granted a license to manufacture SAWH pipes as per API specification 5L and to apply API monogram on the pipes effective May 26. This will help the company to cater to the needs of the Indian oil and gas market.
• Mishra Dhatu Nigam: Allotted 1000 commercial papers of Rs 5 lakh each aggregating to Rs 50 crore to Union Bank of India on a private placement basis.
• REC: Transferred entire shareholding of Fatehgarh Bhadla Transco and Sikar New Transmission-- the project-specific SPVs of the company-- at par value along with all their assets and liabilities to Power Grid Corporation of India on June 4.
• Ganesha Ecosphere: A major fire accident took place at the company's Kanpur Polyester Staple Fiber Unit on June 4 at around 3.30 am. No injuries were reported. The fire has caused major damage to the building, machinery, raw material and finished goods, the company said.
• Earnings: MRF, Central Bank Of India, Union Bank Of India, Mrs. Bectors Food Specialities, The New India Assurance Company, Dynamatic Technologies, Fairchem Organics, Jubilant Ingrevia, Seamec, SMC Global Securities, Yuken India
Dividend Updates
👉🏻Yuken India Ltd Board recommends dividend of Rs. 0.60
👉🏻The Victoria Mills Limited board recommends dividend of Rs. 50
👉🏻Jubilant Ingrevia Ltd board recommends dividend of Rs. 0.35
👉🏻Mrs. Bectors Food Specialities Limited board recommends final dividend of Rs. 2.40
👉🏻Denis Chem Lab Ltd board recommends final dividend of Rs. 0.75
👉🏻Yuken India Ltd Board recommends dividend of Rs. 0.60
👉🏻The Victoria Mills Limited board recommends dividend of Rs. 50
👉🏻Jubilant Ingrevia Ltd board recommends dividend of Rs. 0.35
👉🏻Mrs. Bectors Food Specialities Limited board recommends final dividend of Rs. 2.40
👉🏻Denis Chem Lab Ltd board recommends final dividend of Rs. 0.75
5 Stocks under F&O ban for 9th June:
1️⃣ Indiabulls Housing Finance
2️⃣ SAIL
3️⃣ Sun TV Network
4⃣PNB
5⃣NALCO
1️⃣ Indiabulls Housing Finance
2️⃣ SAIL
3️⃣ Sun TV Network
4⃣PNB
5⃣NALCO
2 IPOs .. same dates 14-16 June 2021 :
1. Sona BLW
Price Band: 285-291
Lot: 51 Shares
Size: 5550 Crs
Retail 10%
GMP: Yet to start
2. Shyam Metalics
Price Band: 303-306
Lot: 45 Shares
Size: 909 Crs
Retail 35%
GMP: 133/-
1 more IPO may line up on these dates.
Stay connected !
1. Sona BLW
Price Band: 285-291
Lot: 51 Shares
Size: 5550 Crs
Retail 10%
GMP: Yet to start
2. Shyam Metalics
Price Band: 303-306
Lot: 45 Shares
Size: 909 Crs
Retail 35%
GMP: 133/-
1 more IPO may line up on these dates.
Stay connected !