Stocks To Watch: Bajaj Hindusthan, Cadila Healthcare, Syndicate Bank

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,628.

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

• Infibeam Incorporation: To consider stock split in its board meeting on July 13, 2017
• Tejas Networks: To list on the BSE and NSE today
• F&O Entrants: Chennai Petroleum, ICICI Prudential Life, Manappuram Finance, Repco Home Finance and SREI Infrastructure will be the new F&O entrants from June 30
• Syndicate Bank: Received shareholder approval to raise additional capital via equity for an amount not exceeding Rs 3,500 crore
• Infosys: Investigations find no evidence of wrongdoing in Panaya deal. Vishal Sikka exercised 20 percent RSUs numbering 24,812 RSUs
• Bajaj Hindusthan: JLF decides that the company's loan account will be taken up for consideration under the S4A scheme. Proposal for sale of co-generation power business of the company has been shelved
• Cadila Healthcare: Board approves raising funds worth Rs 18,500 crore
• Max Financial Services: HDFC Life, Max prepare new structure for merger. (Financial Express)

Natco Pharma

• Gets U.S. FDA nod for Azacitidine Powder
• Breckenridge to partner Natco in this drug
• Analysts see $8-10 million sales coming in for Natco

Other Corporate Announcements

• Lupin: Founder and Chairman, Desh Bandhu Gupta passes away
• Reliance Industries: Seeks shareholder approval to issue NCDs worth Rs 25,000 crore
• CEAT: Board approves investment of Rs 7 crore in Tyresnmore Online Pvt. Ltd. in one or more tranches
• BHEL: Becomes highest R&D spender in Engineering and Manufacturing sector. Registers significant increase in intellectual capital
• Greaves Cotton: Liquidated a step-down subsidiary of the company called Greaves Cotton Middle East
• Amtek Auto: Board approves resignation of Vice-Chairman and Managing Director John Flintham
• Tata Steel: Sold 8.35 crore shares of Tata Motors to Tata Sons at Rs 452.8 per share
• Tata Power: Proposals on Mundra at an explanatory stage
• Pioneer Distilleries: Gets subsidy worth Rs 120 crore from Government of Maharashtra
• Bombay Burmah: Issued commercial paper worth Rs 50 crore
• Grasim: Fixes July 20, 2017 for the demerger of the financial services business of Grasim to Aditya Birla Capital Ltd. Grasim shareholders to get 7 shares of ABCL for every 5 Grasim shares
• DPSC: Agreed to co-develop 12 MW of solar assets in Uttarakhand with Punj Lloyd Infrastructure
• Crest Ventures: Acquired 6 lakh equity shares of subsidiary Crest Wealth Management for Rs 43.2 lakh to increase its total holding to 62 percent from 52 percent
• NOCIL: Board approves sale of 4.71 lakh share of Navin Flourine International
• Uniply Industries: To explore business opportunities like civil construction works for residential and commercial complexes and real estate developers and contractors
• Suzlon Energy: Approves allotment of 79.7 lakh shares on conversion of 2,046 FCCBs at a conversion price of Rs 15.46
• Sterlite Technologies: Selected as the master system integrator for Kakinada Smart City Project to design, build and manage the city over a period of six years
• Prakash Industries: Issues 2.65 lakh equity shares as per the restructuring terms agreed by the FCCB holders

Today’s Nifty Call

U.S. FDA Approvals

• Cadila Healthcare gets nod for Entecavir Oral Tablets
• Taro gets nod for Ibuprofen Oral Suspension
• Glenmark gets nod for Indomethacin Extended Release Oral Capsule

Bulk Deals

• Max India: Xenok Ltd. sold 1.3 crore shares or 4.9 percent stake at Rs 155.03 which were bought by HDFC Standard Life Insurance
• Laurus Labs: Local Government Superannuation Scheme sold 5.63 lakh shares or 0.5 percent stake at Rs 607.05 each which were bought by Morgan Stanley
• IRB InvIT Fund: Trust Capital Service India sold 1.25 crore shares or 5 percent stake at an average price of Rs 98.96 each which were bought by Reliance Mutual Fund
• Reliance Capital: Natwest Bank bought 14 lakh shares or 0.55 percent stake at Rs 642.1 each
• Ganesh Housing Corporation: JPMSL A/C Copthall Mauritius Investment sold 4.65 lakh shares or 0.95 percent stake at Rs 113.75 each which were purchased by Gautam Prakash

Himatsingka Seide

• Promotor Ajoy Kumar Himatsingka sold 23.6 lakh shares or 2.4 percent stake at Rs 350.01 each
• Bihar Mercantile Union Ltd. bought 22.2 lakh shares or 2.3 percent stake at Rs 350 each

Brokerage Calls

• Citi on NMDC: Downgrades to 'Sell' from 'Neutral' with price target of Rs 99 from Rs 125
• Credit Suisse on Bharat Financial Inclusion: Maintains 'Outperform' with price target of Rs 800
• BofAML on HDFC Bank: Raises price target to Rs 2,000 from Rs 1,800
• BofAML on YES Bank: Raises price target to Rs 2,200 from Rs 2,100
• United Spirits: Goldman Sachs upgrades to 'Buy' with price target of Rs 2,738
• JSW Steel: Cut to 'Equalweight' at Morgan Stanley with price target of Rs 214

Stocks In F&O Ban

• Bank of India
• DLF
• Fortis Healthcare
• GMR Infrastructure
• HDIL
• Indiabulls Real Estate
• IFCI
• India Cements
• Infibeam Incorporation
• Jaiprakash Associate
• Oriental Bank of Commerce
• Reliance Communications
• Ujjivan Financial Services
• Wockhardt

Media Reports

• HDFC: Seeks shareholder nod to raise funds up to Rs 85,000 crore. (Business Standard)
• ONGC: Turns to GSPC undersea infrastructure for KG Gas output. (PTI)
• Vedanta: Will invest $6 billion in the company says Anil Agarwal. (Business Standard)
• SAIL: Eyes South Africa, Canada for coal import. (Business Standard)
• HPCL: Eyes stake in Russian oil fields. (PTI)
• Adani Power: Says exploring various options and engaged with stakeholders for steps on Mundra plant. (Bloomberg)
• M&M Financial Services: To meet on June 29 to consider bond issue. (Bloomberg)
• Tata Power: Exploring Mundra UMPP stake sale to power procurers. (Bloomberg)