stocks in focus
• Tata Motors: Guenter Butschek to step down as CEO & MD on June 30, to continue as consultant till the end of the financial year. Girish Wagh, President of the commercial vehicles unit also appointed as the Executive Director to the board from July 1.
• Adani Ports and SEZ: May abandon Myanmar project if it violates U.S. sanctions and will write-down investments in the project in full, the company said. The write down will not materially affect the balance sheet as it is equivalent to about 1.3% of the total assets of the company. APSEZ is in discussion with its U.S. based counsels to ensure that it is in compliance with the OFAC sanctions programs. Further, the company declined to comment on KLP Fund share sale report.
• Jaypee Infratech: Suraksha ARC wins the bid for Jaypee Infratech by a small margin. The final resolution plans of Suraksha Realty along with Lakshdeep Investments and Finance got 98.7% votes.
• HDFC: Chairman Deepak Parekh calls for regulatory clarity as housing finance companies come under RBI regulation and supervision. Difference in accounting standards used by NBFC/HFCs versus banks leading to differences in interpretation between inspectors, auditors and regulated entities, Parekh said. HFCs should be allowed to retain customers by lowering interest rate on loans, without these loans being seen as restructured. Home loan insurance and home insurance should be classified as a component of home loans.
• Reliance Industries: Fitch Ratings has upgraded the company’s foreign-currency debt rating to a level higher than India’s sovereign ranking, citing strong external debt-servicing capabilities. RIL now has a long-term foreign-currency rating of BBB, while the local-currency rating stands at BBB+.
• UCO Bank: Approved raising up to Rs 500 crore in Tier II capital.
• Orchid Pharma: Promoter Dhanuka Laboratories to sell up to 32.80 lakh shares, representing 8.04% of the total equity share capital, through an Offer for Sale. The floor price is set at Rs 375 per share. The OFS opens for non-retail investors today and for retail investors tomorrow.
• Piramal Enterprises: Board to meet on June 28 to considerraising up to Rs 1000 crore through the issue of secured NCDs on private placement basis. The base issue size will be Rs 100 crore with an oversubscription of up to Rs 900 crore..
• Union Bank of India: Extended the tenure of BS Venkatesha, General Manager as Chief Risk Officer of the bank for a further period of six months.
• Earnings: ONGC, Ashok Leyland, PTC India, Authum Investment & Infrastructure, Bodal Chemicals, Everest Kanto Cylinder, Mishra Dhatu Nigam, Nath Bio-Genes (India), Nirlon, Rushil Décor, Take Solutions, Thangamayil Jewellery, West Coast Paper Mills
• Tata Motors: Guenter Butschek to step down as CEO & MD on June 30, to continue as consultant till the end of the financial year. Girish Wagh, President of the commercial vehicles unit also appointed as the Executive Director to the board from July 1.
• Adani Ports and SEZ: May abandon Myanmar project if it violates U.S. sanctions and will write-down investments in the project in full, the company said. The write down will not materially affect the balance sheet as it is equivalent to about 1.3% of the total assets of the company. APSEZ is in discussion with its U.S. based counsels to ensure that it is in compliance with the OFAC sanctions programs. Further, the company declined to comment on KLP Fund share sale report.
• Jaypee Infratech: Suraksha ARC wins the bid for Jaypee Infratech by a small margin. The final resolution plans of Suraksha Realty along with Lakshdeep Investments and Finance got 98.7% votes.
• HDFC: Chairman Deepak Parekh calls for regulatory clarity as housing finance companies come under RBI regulation and supervision. Difference in accounting standards used by NBFC/HFCs versus banks leading to differences in interpretation between inspectors, auditors and regulated entities, Parekh said. HFCs should be allowed to retain customers by lowering interest rate on loans, without these loans being seen as restructured. Home loan insurance and home insurance should be classified as a component of home loans.
• Reliance Industries: Fitch Ratings has upgraded the company’s foreign-currency debt rating to a level higher than India’s sovereign ranking, citing strong external debt-servicing capabilities. RIL now has a long-term foreign-currency rating of BBB, while the local-currency rating stands at BBB+.
• UCO Bank: Approved raising up to Rs 500 crore in Tier II capital.
• Orchid Pharma: Promoter Dhanuka Laboratories to sell up to 32.80 lakh shares, representing 8.04% of the total equity share capital, through an Offer for Sale. The floor price is set at Rs 375 per share. The OFS opens for non-retail investors today and for retail investors tomorrow.
• Piramal Enterprises: Board to meet on June 28 to considerraising up to Rs 1000 crore through the issue of secured NCDs on private placement basis. The base issue size will be Rs 100 crore with an oversubscription of up to Rs 900 crore..
• Union Bank of India: Extended the tenure of BS Venkatesha, General Manager as Chief Risk Officer of the bank for a further period of six months.
• Earnings: ONGC, Ashok Leyland, PTC India, Authum Investment & Infrastructure, Bodal Chemicals, Everest Kanto Cylinder, Mishra Dhatu Nigam, Nath Bio-Genes (India), Nirlon, Rushil Décor, Take Solutions, Thangamayil Jewellery, West Coast Paper Mills
Dividend Updates
👉🏻PNC Infratech Ltd board recommends dividend of Rs. 0.50
👉🏻Godfrey Phillips India Ltd Board approves Dividend of Rs. 24
👉🏻Indraprastha Gas Ltd board recommends dividend of Rs. 3.6
👉🏻The KCP Ltd board recommends dividend of Rs. 2
👉🏻Shiva Texyarn Ltd board recommends dividend of Rs. 1.20
👉🏻Haldyn Glass Ltd board recommends dividend of Rs. 0.60
👉🏻Emmbi Industries Ltd Board recommends Dividend of Rs. 0.40
👉🏻JSW Energy Ltd board recommends Dividend of Rs. 2
👉🏻Advait Infratech Ltd Board approves Rs. 1
👉🏻Coromandel Agro Products and Oils Ltd Board recommends Final Dividend of Rs. 2
👉🏻Superhouse Ltd Board recommends Dividend for FY21
👉🏻Lambodhara Textiles Ltd Board recommends Dividend of Rs. 1
👉🏻Alphageo India Ltd Board recommends Dividend of Rs. 8
👉🏻Pee Cee Cosma Sope Ltd Board recommends Dividend of Rs. 3
👉🏻United Drilling Tools Ltd Board recommends Final Dividend of Rs. 0.60
👉🏻CSL Finance Ltd Board approves Dividend of Rs. 3
👉🏻Apex Frozen Foods Limited board recommends final dividend of Rs. 2
👉🏻Pix Transmissions Ltd Board approves Dividend of Rs. 5
👉🏻Pondy Oxides and Chemicals Limited board recommends final dividend of Rs. 2.5
👉🏻PNC Infratech Ltd board recommends dividend of Rs. 0.50
👉🏻Godfrey Phillips India Ltd Board approves Dividend of Rs. 24
👉🏻Indraprastha Gas Ltd board recommends dividend of Rs. 3.6
👉🏻The KCP Ltd board recommends dividend of Rs. 2
👉🏻Shiva Texyarn Ltd board recommends dividend of Rs. 1.20
👉🏻Haldyn Glass Ltd board recommends dividend of Rs. 0.60
👉🏻Emmbi Industries Ltd Board recommends Dividend of Rs. 0.40
👉🏻JSW Energy Ltd board recommends Dividend of Rs. 2
👉🏻Advait Infratech Ltd Board approves Rs. 1
👉🏻Coromandel Agro Products and Oils Ltd Board recommends Final Dividend of Rs. 2
👉🏻Superhouse Ltd Board recommends Dividend for FY21
👉🏻Lambodhara Textiles Ltd Board recommends Dividend of Rs. 1
👉🏻Alphageo India Ltd Board recommends Dividend of Rs. 8
👉🏻Pee Cee Cosma Sope Ltd Board recommends Dividend of Rs. 3
👉🏻United Drilling Tools Ltd Board recommends Final Dividend of Rs. 0.60
👉🏻CSL Finance Ltd Board approves Dividend of Rs. 3
👉🏻Apex Frozen Foods Limited board recommends final dividend of Rs. 2
👉🏻Pix Transmissions Ltd Board approves Dividend of Rs. 5
👉🏻Pondy Oxides and Chemicals Limited board recommends final dividend of Rs. 2.5
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NIFTY 50 | DECLINING VOLUME | LOSING STRENGTH ?
Nifty 50 - Futures and Options Analysis. The Index is losing strength and Buyers who bought at the top are now struck in a range ! Watch the Video till the end.. ! to find out what's next !
#Nifty50 #Banknifty #Futures #Options #Priceactiontrading #Sensex…
#Nifty50 #Banknifty #Futures #Options #Priceactiontrading #Sensex…
Stocks to Focus
• HDFC Life Insurance Co: Foreign promoter Standard Life (Mauritius Holdings) 2006 to sell 3.46% stake in HDFC Life for $640 million (over Rs 4,600 crore) via a block deal, according to a Bloomberg News report. Standard Life will sell 7 crore shares at Rs 658-678 apiece, which is at a discount of 2.6-5.5% to Monday’s close of Rs 696.20. After this deal, the promoter’s stake in the life insurer will reduce to 5.46% from 8.88%.
• Piramal Enterprises: Approved the allotment of 3,650 secured NCDs of face value of Rs 10 lakh each aggregating to Rs 365 crore on private placement basis.
• Punjab National Bank: Selects Ebixcash to manage Enterprise Wide Area Network.
• Ramco Systems: The company will provide its next-gen Enterprise Resource Planning software to Aden Ports Development Company at their Aden Container Terminal.
• Thomas Cook India: Has signed a deal with Shanghai Disney Resort.
• Godrej Consumer Products: ICRA has upgraded the company’s long-term rating to AAA (Stable) from AA+ (Stable) and reaffirmed its short-term rating of A1+.
• RITES: Secured anorder of approximately Rs 45 crore from Metro Express, Mauritius. The company has been awarded additional work of consultancy services for extension of the mainline, from Rose Hill to Reduit, through Ebene.
• Lloyds Metals and Energy: Approved the allotment of 9 crore shares of face value of Re 1 each, at a premium of Rs 19 each, aggregating to Rs 180 crore. Further the company will allot 1 crore 3% Optionally Fully Convertible Debentures of face value of Rs 20 each aggregating to Rs 20 crore to Thriveni Earthmovers.
•** Earnings:** Beekay Steel Industries, Balmer Lawrie Investments, DCM Shriram Industries, DREDGING Corporation Of India, EID-Parry (India), Fermenta Biotech, Finolex Cables, Gallantt Metal, Gallantt Ispat, GOCL Corporation, Gujarat Mineral Development Corporation, Hindustan Oil Exploration, Himadri Speciality Chemical, Housing & Urban Development Corporation, IND-Swift Laboratories, Indian Railway Catering and Tourism Corporation, Indian Railway Finance Corporation, MTNL, NBCC (India), Rossell India, Ruchi Soya Industries
• HDFC Life Insurance Co: Foreign promoter Standard Life (Mauritius Holdings) 2006 to sell 3.46% stake in HDFC Life for $640 million (over Rs 4,600 crore) via a block deal, according to a Bloomberg News report. Standard Life will sell 7 crore shares at Rs 658-678 apiece, which is at a discount of 2.6-5.5% to Monday’s close of Rs 696.20. After this deal, the promoter’s stake in the life insurer will reduce to 5.46% from 8.88%.
• Piramal Enterprises: Approved the allotment of 3,650 secured NCDs of face value of Rs 10 lakh each aggregating to Rs 365 crore on private placement basis.
• Punjab National Bank: Selects Ebixcash to manage Enterprise Wide Area Network.
• Ramco Systems: The company will provide its next-gen Enterprise Resource Planning software to Aden Ports Development Company at their Aden Container Terminal.
• Thomas Cook India: Has signed a deal with Shanghai Disney Resort.
• Godrej Consumer Products: ICRA has upgraded the company’s long-term rating to AAA (Stable) from AA+ (Stable) and reaffirmed its short-term rating of A1+.
• RITES: Secured anorder of approximately Rs 45 crore from Metro Express, Mauritius. The company has been awarded additional work of consultancy services for extension of the mainline, from Rose Hill to Reduit, through Ebene.
• Lloyds Metals and Energy: Approved the allotment of 9 crore shares of face value of Re 1 each, at a premium of Rs 19 each, aggregating to Rs 180 crore. Further the company will allot 1 crore 3% Optionally Fully Convertible Debentures of face value of Rs 20 each aggregating to Rs 20 crore to Thriveni Earthmovers.
•** Earnings:** Beekay Steel Industries, Balmer Lawrie Investments, DCM Shriram Industries, DREDGING Corporation Of India, EID-Parry (India), Fermenta Biotech, Finolex Cables, Gallantt Metal, Gallantt Ispat, GOCL Corporation, Gujarat Mineral Development Corporation, Hindustan Oil Exploration, Himadri Speciality Chemical, Housing & Urban Development Corporation, IND-Swift Laboratories, Indian Railway Catering and Tourism Corporation, Indian Railway Finance Corporation, MTNL, NBCC (India), Rossell India, Ruchi Soya Industries
Stocks in focus
• Cipla, Dr. Reddy’s Laboratories, Emcure Pharmaceuticals, Sun Pharmaceutical Industries and Torrent Pharmaceuticals will collaborate for clinical trial of investigational anti-viral drug Molnupiravir for the treatment of mild Covid-19 in an outpatient setting. The companies will jointly sponsor, supervise and monitor the clinical trial in India; trial expected to take place between June and September this year across the country with the recruitment of 1,200 patients.
• AstraZeneca Pharma India: Told to pay Rs 157 crore by National Pharmaceutical Pricing Authority. NPPA issued the demand notice to AstraZeneca India alleging the company overcharged the same amount in the sale of Tagrisso tablets from March 8, 2019 to January 31, 2021. AstraZeneca said it has followed all applicable laws related to pricing of its product. The drugmaker has filed a petition in Delhi high court challenging the NPPA notice.
• Reliance Industries: Has partnered with Abu Dhabi National Oil Company to set up a new petrochemical complex in Ruwais, Abu Dhabi. This will be a new chlor-alkali, ethylene dichloride and polyvinyl chloride production facility. The project will be constructed in the TA’ZIZ Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ. Under the terms of the agreement, this integrated plant will have a capacity to produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually.
• Cipla: Is supporting Moderna Inc. with the regulatory approval and importation of vaccines to be donated to India. At this stage, there is no definitive agreement on commercial supplies.
• Bharti Airtel: Bharti Global to invest additional $500 million in OneWeb, a U.K.-based satellite start-up. Bharti Global will become the biggest shareholder in OneWeb following the investment, according to a Financial Times report. Bharti’s stake now stands at almost 39%; U.K. government, Eutelsat and SoftBank each hold slightly over 19% in the company.
• Induslnd Bank: Sold 70.67 lakh equity shares of McLeod Russel India on June 28.
• CG Power and Industrial Solutions: CBI has registered an FIR against the company, its erstwhile promoters and some of the past directors/officials. The FIR is based on a complaint filed by State Bank of India on behalf of all the former lenders of the company. The company is extending full support and co-operation to CBI, it said in an exchange filing.
• Isgec Heavy Engineering: Received an order for Wet Limestone Flue Gas Desulphurisation System and Flue Gas Conditioning System Package from Odisha Power Generation Corporation for their Thermal Power Station at Banharpalli.
• DCM Shriram Industries: Approved sub-division of existing one share of face value of Rs 10 each into five shares of face value of Rs 2 each. This is being done to improve the liquidity of the company's shares on the stock market and to make the same available to small investors.
• NBCC (India): Has been awarded the work order for engagement as Project Management Consultant for undertaking various civil works of Odisha Hydro Power Corporation.
• Earnings: SpiceJet, Vodafone Idea, Balu Forge Industries, Anant Raj, BF Utilities, Cerebra Integrated Technologies, Coffee Day Enterprises, Dish TV India, IRCON International, Sadbhav Engineering, Srei Infrastructure Finance, Sequent Scientific, Jain Irrigation Systems, Rajesh Exports
• Cipla, Dr. Reddy’s Laboratories, Emcure Pharmaceuticals, Sun Pharmaceutical Industries and Torrent Pharmaceuticals will collaborate for clinical trial of investigational anti-viral drug Molnupiravir for the treatment of mild Covid-19 in an outpatient setting. The companies will jointly sponsor, supervise and monitor the clinical trial in India; trial expected to take place between June and September this year across the country with the recruitment of 1,200 patients.
• AstraZeneca Pharma India: Told to pay Rs 157 crore by National Pharmaceutical Pricing Authority. NPPA issued the demand notice to AstraZeneca India alleging the company overcharged the same amount in the sale of Tagrisso tablets from March 8, 2019 to January 31, 2021. AstraZeneca said it has followed all applicable laws related to pricing of its product. The drugmaker has filed a petition in Delhi high court challenging the NPPA notice.
• Reliance Industries: Has partnered with Abu Dhabi National Oil Company to set up a new petrochemical complex in Ruwais, Abu Dhabi. This will be a new chlor-alkali, ethylene dichloride and polyvinyl chloride production facility. The project will be constructed in the TA’ZIZ Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ. Under the terms of the agreement, this integrated plant will have a capacity to produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually.
• Cipla: Is supporting Moderna Inc. with the regulatory approval and importation of vaccines to be donated to India. At this stage, there is no definitive agreement on commercial supplies.
• Bharti Airtel: Bharti Global to invest additional $500 million in OneWeb, a U.K.-based satellite start-up. Bharti Global will become the biggest shareholder in OneWeb following the investment, according to a Financial Times report. Bharti’s stake now stands at almost 39%; U.K. government, Eutelsat and SoftBank each hold slightly over 19% in the company.
• Induslnd Bank: Sold 70.67 lakh equity shares of McLeod Russel India on June 28.
• CG Power and Industrial Solutions: CBI has registered an FIR against the company, its erstwhile promoters and some of the past directors/officials. The FIR is based on a complaint filed by State Bank of India on behalf of all the former lenders of the company. The company is extending full support and co-operation to CBI, it said in an exchange filing.
• Isgec Heavy Engineering: Received an order for Wet Limestone Flue Gas Desulphurisation System and Flue Gas Conditioning System Package from Odisha Power Generation Corporation for their Thermal Power Station at Banharpalli.
• DCM Shriram Industries: Approved sub-division of existing one share of face value of Rs 10 each into five shares of face value of Rs 2 each. This is being done to improve the liquidity of the company's shares on the stock market and to make the same available to small investors.
• NBCC (India): Has been awarded the work order for engagement as Project Management Consultant for undertaking various civil works of Odisha Hydro Power Corporation.
• Earnings: SpiceJet, Vodafone Idea, Balu Forge Industries, Anant Raj, BF Utilities, Cerebra Integrated Technologies, Coffee Day Enterprises, Dish TV India, IRCON International, Sadbhav Engineering, Srei Infrastructure Finance, Sequent Scientific, Jain Irrigation Systems, Rajesh Exports