Traders record prices during a tea auction at the East African Tea Trade Association (EATTA) auction room in Mombasa, Kenya. (Photographer: Riccardo Gangale/Bloomberg)

Stocks To Watch: Bata, Reliance Communications, PC Jeweller, SpiceJet, Titan

Summary
  • Jewellery, Footware stocks likely to react on GST rates
  • Reliance Communicatons gets seven months time from lenders to repay debt
  • SpiceJet profit falls 61 percent year-on-year on higher fuel cost
  • RBI initiates Prompt Corrective Action on Dena Bank
  • Can Fin Homes to consider stock split

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, gained 0.24 percent to 9,668.

Here are some of the stocks to watch out for in today’s session:

  • Titan, PC Jeweller, TBZ: GST council fixes a tax rate of 3 percent on gold and gold jewellery. Silver and processed diamonds to be taxed at 3 percent too
  • Reliance Communications: Lenders give company time till December 2017 to repay Rs 45,733 crore gross debt
  • Dena Bank: RBI initiates Prompt Corrective Action owing to higher Net NPA and negative Return on Assets

SpiceJet (Q4, YoY)

  • Net profit down 61 percent to Rs 41.6 crore
  • EBITDAR down 7.3 percent to Rs 315.2 crore
  • EBITDAR Margin down to 19.4 percent from 23 percent
  • Relaxo, Bata, Liberty Shoes: GST council fixes a tax rate of 5 percent for footware under Rs 500. The current rate stands at 9.5 percent. For footware priced above Rs 500, the rax rate stands at 18 percent from 12 percent.
  • GVK Power: Board approves to sell 3.84 crore shares or 10 percent stake in Bengaluru International Airport which was held through its subsidiary to Fairfax India for Rs 1,290 crore
  • NTPC: Commissioned 117 out of 250 MW of Mandsaur Solar Power Project
  • Can Fin Homes: To consider stock split on June 23

VST Tillers

  • Power tiller sales down 5 percent in May 2017 to 1,857 units year-on-year
  • Tractor sales down 1 percent in May 2017 at 800 units year-on-year

Other Corporate Announcements

Suzlon

  • Allotted 5.62 crore equity shares on conversion of bonds at a conversion rate of Rs 15.46 per share
  • Also gets NCLT nod for composite scheme of amalgamation between SE Blades, Suzlon Wind International, SE Electricals and Suzlon Global Services with itself
  • Tata Communications: Signs agreement with Batelco, Bahrain's leading digital communications solutions provider to extend their global data centre reach, cloud and connectivity solutions to their customers
  • Corporation Bank: Seeks shareholder nod to raise capital up to Rs 3,500 crore through equity
  • Sunteck Realty: Seeks shareholder nod to raise Rs 2,000 crore of which not more than Rs 1,350 crore will be through NCDs.
  • Satin Creditcare: To raise Rs 100 crore via commercial papers
  • Linde India: Signs business combination agreement with Praxair Inc.
  • Mawana Sugars: Agreed for one-time settlement of its debt worth Rs 43.21 crore owned to State Bank of Hyderabad
  • Alankit: Promoters make open offer to acquire 3.71 crore shares or 26 percent stake at Rs 33.3 per share

Today’s Nifty Quote

Bulk Deals

  • Sayaji Hotels: Promoter Kayum Razak Dhanani bought 1.19 lakh shares or 0.7 percent stake at Rs 293.2 each sold by Liberty Construction and Leasing Ltd.
  • JVL Agro: Eriska Investment Fund bought 83 lakh shares or 4.95 percent stake at Rs 18 each sold by Lotus Global Investments
  • Stampede Capital: Promoter Usha Meenavalli sold 19.4 lakh shares or 0.85 percent stake at Rs 19.7 each
  • Lovable Lingerie: Param Value Investments sold 1.23 lakh shares or 0.7 percent stake at Rs 241.19 each
  • RPP Infra Projects: Sree Saravana Engineering Bhavani Pvt. Ltd. bought an additional 2.38 lakh shares or 1.06 percent stake at Rs 232.4 each
  • Excel Realty and Infra: Arcadia Share and Stock Brokers Pvt. Ltd. bought 3.3 lakh shares or 1.05 percent stake at Rs 37.35 each

Brokerage Calls

  • Hero MotoCorp: Cut to 'Neutral' at HDFC Securities with price target of Rs 3,740
  • Maruti Suzuki: Cut to 'Neutral' at HDFC Securities with price target of Rs 7,070
  • PVR: Raised to 'Accumulate' at Dolat Capital Market

Stocks In F&O Ban

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

Media Reports

  • HUL: To unveil innovations in the premium laundry segment. (Economic Times)
  • Bharti Airtel: Plans to woo start-ups to digital platform. (Economic Times)
  • TCS: H1-B visa applications now at one-third of 2015 levels. (PTI)
  • Federal Bank: To consider raising up to Rs 4,000 crore via debt options. (Bloomberg)
  • Healthcare Global: In pact with pinnacle hospitals to acquire its oncology unit by share purchase of Rs 1.8 crore. (Bloomberg)
BloombergQuint
Stay Updated With Stock Market News on BloombergQuint