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

Summary
  • Bajaj Hindusthan’s account to be considered under S4A
  • Syndicate Bank, Cadila Healthcare to raise funds
  • Infibeam Incorporation to consider stock split
  • Chennai Petroleum and four other stocks included in F&O

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)
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