INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The domestic equity market is likely to see a flat to negative start on Thursday, tracking Nifty futures on the Singapore Stock
Here is a list of stocks that are likely to be in focus in today's trading session:
HDFC Bank: The lender has approval to sell fresh shares
in India and abroad in what could result in the country’s largest qualified institutional placement (QIP).The approval includes an Rs
8,500-crore infusion from parent HDFC, which will allow it to maintain its 25.6 per cent current shareholding, potentially leaving about Rs
15,500 crore to be raised from the market.
Reliance Capital, Zee Entertainment: Media baron Subhash Chandra-promoted Zee Group and Anil
Ambani-owned Reliance Broadcast Network (RBN) are renegotiating the acquisition deal announced in November 2016 as the former wants to
reduce the price, said people in the know.
TCS:Tata Consultancy Services (TCS) said its board will consider a proposal to buy back shares on
Friday, with analysts expecting it to be at that same level as the one in 2017
The company’s board had announced a Rs 16,000-crore share repurchase programme last year
In April, the company followed up with an issue of bonus shares.
Usha Martin: The comapny's decision to put its 1-million-tonne steel unit
on the block has attracted at least four large suitor
Usha Martin is looking to sell the unit to clear debt of ₹3,700 crore
It hopes to get non-binding offers in the next 2-3 weeks, managing director Rajeev Jhawar told ET.
Monnet Ispat Energy: The company's
subsidiary Monnet Power is headed for liquidation with no bidder turning up on the final day to submit bids, which also raises questions
about faith in the administration’s ability to resolve the stress in the sector, said two people familiar with the matter.
ICICI Bank,
ICICI Pru:ICICI Bank will reduce its stake in ICICI Prudential Life Insurance by 2 per cent to 52.89 per cent as it seeks to raise money to
overcome a likely jump in provisions in the quarter ended June 2018.
RCom:Reliance Communications (RCom) said it is no longer impacted by
the turmoil in the telecom industry, since it has exited the wireless segment and slashed 94 per cent of its workforce
Ruchi Soya: enders are giving Adani Wilmar, the highest bidder for bankrupt Ruchi Soya, the option to improve its offer
Following this, second-highest bidder Patanjali Ayurved will be allowed to better that.
Mindtree: Citi has downgraded the stock to 'Sell'
from 'Neutral' with a target of Rs 970 per share
It says that the business recovery has been priced in and that the consensus EPS is probably building in a turnaround.
OMCs: State oil
companies kept prices of petrol and diesel unchanged on Wednesday after cutting it for 14 days in a row
Prices of petrol are down Rs 2 per litre and diesel Rs 1.46 per litre since May 30 when companies first cut rates that had risen to record
levels.
Mold-Tek Packaging: Kotak Securities has upgraded Mold-Tek Packaging to buy from accumulate with a target price of Rs 351
Stock stands to gain in the coming years from the increasing share of IML products, expansion into food and FMCG industry, capacity addition
at Vizag and Mysuru, and ramp-up at RAK would aid the profitability
Hero MotoCorp: The country’s largest two-wheeler maker Hero MotoCorp has increased its lead over rival Honda Motorcycles and Scooters
India (HMSI) to over 2.2 lakh units in the first two months of the current fiscal
ICICI Lombard General Insurance Company: HSBC has maintained reduce rating on ICICI Lombard General Insurance Company with a target price
ICICI Lombard and its industry peers could soon start selling multi-year third-party motor insurance for cars if the insurance regulator has
its way, said HSBC.
Axis Bank: CLSA has maintained buy rating on Axis Bank and revised target price to Rs 650 from Rs 610
The Axis Bank annual report highlights further erosion in the franchise across the board, said CLSA
The firm has raised earnings estimates on normalisation of slippages or credit costs and better net interest margin.
