Stocks To Watch: Dr. Reddy’s Labs, Indian Hotels, Tata Steel

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, gained 0.45 percent to 9,633.

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

• Tata Steel: Company will sell shares worth up to Rs 3,825 crore it holds in Tata Motors Ltd. to its parent company, which may help the steelmaker pare debt.
• Dr. Reddy's Laboratories: U.S. FDA issues Form 483 with one observation for its Srikakulam plant
• Indian Hume Pipe: Secured work order worth Rs 183 crore from the Tamil Nadu Water Supply board
• Nucleus Software: To buyback 10.3 percent of paid-up equity capital at Rs 350 per share
• Wheels India: Japanese firm to pick up 26 percent stake in subsidiary
• Bajaj Auto: Maharashtra government removes cap on taxi, auto-rickshaw permits. (Indian Express)

Hotel Stocks

• GST rate of 28 percent to be imposed on tariffs from Rs 7,500 and beyond
• Tariffs between Rs 2,500-7,500 to be taxed at 18 percent

Bank of Maharashtra

• RBI initiates prompt corrective action in view of high NPAs and negative RoA
• Receives shareholder approval for raising of equity worth Rs 2,000 crore

Shriram City Union Finance

• 20.35 percent stake in the company pledged with Citigroup.
• To issue secured 1,350 redeemable NCDs with a face value of Rs 10 lakh each amounting to Rs 135 crore

Other Corporate Announcements

• Godrej Consumer Products: Shareholders approve issue of bonus shares
• Himatsingka Seide: Bihar Mercantile union to acquire 22.2 lakh shares or 2.25 percent stake at Rs 350 per share from promoter Ajoy Kumar Himatsingka on or after June 23, 2017
• Piramal Enterprises: Receives shareholder approval for issuance of equity shares and/or convertible securities for an aggregate amount not exceeding Rs 5,000 crore
• Asian Paints: Berger International, Singapore, an indirect subsidiary of the company divests entire stake in overseas holding Lewis Berger
• Bharat Financial Inclusion: Assigned Rs 539.67 crore to a public-sector bank on direct assignment basis
• Monnet Ispat & Energy: Clarifies that it has not filed for bankruptcy
• NTPC: Commissioned 225 out of the 250 MW Mandsaur Solar Power Project
• Omkar Speciality: Board approves to raise Rs 200 crore via rights issue
• Engineers India: Board approves buyback of 4.19 crore shares or 6.23 percent of the total equity shares
• Asian Granito India: One of the promoters Dipakbhai Danjibhai Patel reduces his stake by 0.13 percent
• DHFL: To issue secured redeemable NCDs worth Rs 150 crore via private placement
• HUL: Bombay High Court orders Amul to stop airing disparaging advertisement

Mahindra and Mahindra Financial Services

• Increases borrowing limit to Rs 60,000 crore from Rs 55,000 crore
• Issues secured / unsecured redeemable NCDs worth Rs 29,000 crore through private placement

MSP Steel and Power

• Board approves conversion of 6 percent redeemable non-cumulative preference shares to equity owing to the scheme for sustainable structuring of stressed assets
• Board also approves implementation of S4A scheme
• Approves conversion of loan by lenders into equity shares or optionally convertible debentures (OCDs) and also issue and allot pursuant to implementation of the S4A scheme

Gammon Infrastructure (Q4, YoY)

• Net profit of Rs 8.29 crore from net loss of Rs 7.81 crore
• Revenue from operations at Rs 44.42 crore from Rs 74.10 crore

Today’s Nifty Call

Bulk Deals

• Machino Plastics: Smithblock Financial Services bought 50,000 shares or 0.8 percent stake at Rs 276.4 each which were sold by Jayneel Securities
• Suprajit Engineering: Smallcap World Fund Inc. bought 11.22 lakh shares or 0.9 percent stake at Rs 297 each
• Indiabulls Real Estate: MV SCIF Mauritius sold 32.32 lakh shares or 0.7 percent stake at Rs 200.48 each
• IPCA Labs: Axis Mutual Fund sold 11.08 lakh shares or 0.9 percent stake at Rs 453.64 each
• Kridhan Infra: Payone Enterprises sold 8.75 lakh shares or 1.2 percent stake at Rs 73.32 each
• MBL Infrastructure: PCA India Infrastructure sold 4.52 lakh shares or 1.1 percent stake at Rs 29.84 each

Cosmo Films

• Promoter Ambrish Jaipuria sold 1 lakh shares or 0.5 percent stake at Rs 423
• Indiabulls Mutual Fund bought 99,644 shares or 0.5 percent stake at Rs 423.03 each

Stocks In F&O Ban

• Allahabad Bank
• Bank of India
• BEML
• DLF
• Infibeam Incorporation
• Jaiprakash Associates
• Kaveri Seeds
• Oriental Bank of Commerce
• Reliance Communication
• Ujjivan Financial Services

IPO Corner

• Tejas Networks: IPO subscribed 1.88 times on last day (Friday)
• Eris Lifesciences: Subscribed 12 percent on Day 1

CSDL

• IPO opens for subscription today
• Price band of Rs 145-149
• Raised Rs 154.07 crore from 15 anchor investors at Rs 149 per share by allotting 1.03 crore shares
• Anchor investors include Abu Dhabi Investment Authority, Goldman Sachs India Ltd.

Media Reports

• Motherson Sumi: Dutch unit plans to sell bonds worth 500 million Euros. (Economic Times)
• JSW Steel: Looks to raise Rs 8,000 crore via QIP. (Economic Times)
• Dena Bank: Cuts home loan rates. (DNA)
• BL Kashyap: To consider sale of shares, warrants on June 26. (Bloomberg)