NEW DELHI: Nifty futures on the Singapore Exchange were trading 27.50 points, or 0.23 per cent, higher at 11,746, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in todays trade:
HDFC, Apollo Hospitals: Housing Development Finance Corp agreed to acquire 51.2 per cent of Apollo Munich Health Insurance, paying Rs 1,347 crore in cash for the stake held by the Apollo Hospitals Group and a few employees of the insurer.
Sun Pharmaceuticals: Halol unit received four USFDA observations/
Jet Airways: Indian lenders efforts to initiate insolvency proceedings against Jet Airways are facing a fresh challenge, with the trustee appointed by a Netherlands court, which had last month declared the grounded airline bankrupt, seeking to intervene.
Adani Power: Maharashtra minister Chandrashekhar Bawankule said he is likely to soon get a report on the alleged high tariff of Adani Electricity, supplying power to Mumbai suburbs, and that any excess amount charged from consumers will be adjusted in future bills.
HCL Technologies: HCL Tech has won a multi-year contract to manage Cricket Australias (CA) digital properties. CA is the governing body for professional and amateur cricket in Australia.
CEAT: The RPG – group company said it has got the mandate to supply tyres for the Renault's newly unveiled sub-4m multi-purpose vehicle, Triber. Earlier also, the domestic tyre maker has partnered with Renault for its hatchback Kwid.
Blue Star: The company has bagged a contract from the Mumbai Metro Rail Corporation (MMRC) for the tunnel ventilation system and environmental control system works for the section BKC to Mumbai Central on its Colaba-Bandra-SEEPZ, metro-3 corridor. The order is approximately valued at Rs 253 crore.
BPCL, ONGC and OIL: ONGC, BPCL and Oil India said their subsidiaries along with Anadarko Petroleum of the US has taken a final investment decision (FID) for Area-1 Mozambique LNG project.
IndusInd Bank, Bharat Financial: Private sector lender lnduslnd Bank and Bharat Financial Inclusion said their merger will be effective from July 4.
Ashok Leyland: Hinduja Group flagship firm Ashok Leyland Wednesday said it will close its Pantnagar plant for six days from June 24 to adjust production according to the demand.
PNB: State-owned Punjab National Bank (PNB) recovered Rs 20,000 crore of bad loans during the financial year ended March 2019, almost double the recovery amount in the preceding year, its Chairman Sunil Mehta has said.
Rajesh Exports: The company said it has bagged an order worth Rs 942 crore from Germany to supply designer range of jewellery. The order is to be completed by August 2019, the company said in a regulatory filing.
Board meetings
Analyst calls
• Deutsche Bank has maintained buy rating on ICICI Prudential Life Insurance Company with a target price of ₹465 following a meeting with the company's management. Management sounded confident of achieving midteens growth in FY20, and remains excited about the protection opportunity over the medium term, said Deutsche Bank.
• Kotak Securities has maintained buy rating on Persistent Systems with a target price of ₹735. The brokerage expects Persistent to report an EPS of ₹49.6/share in FY20 and an EPS of ₹52.5/share in FY21. With the change in the management, the brokerage expects better execution, lower attrition, and improvement in revenue growth in the medium to long term and resolution of past challenges.
• HSBC has maintained buy rating on GAIL India and cut target price to ₹366 from ₹456. GAIL stock is down 15 per cent after the much expected tariff order for its key pipeline network earlier this month disappointed, said HSBC. GAIL is trading at 1-year forward core PE of 8.1 times which is 25% below its historical average of the last 10 years, making valuations attractive, said HSBC.
• Kotak Institutional Equities has maintained reduce rating on Maruti Suzuki India and reduced fair value to ₹6,000 from ₹6,600. The domestic PV industry is likely to grow in low single digit due to a muted demand scenario and increase in costs related to stricter safety and emission regulations, the brokerage said.
• ICICI Securities has maintained add rating on Kansai Nerolac Paints and revised target price to ₹472 from ₹458. Kansai Nerolacs FY19 revenue grew 13% year-onyear driven by mid-double digit decorative paint volume growth, said ICICI Securities. While the industrial paints segment witnessed challenges due to slowdown in auto business and margin pressure, Kansai Nerolac continues to see market share improvement in key industrial categories, the brokerage said.
Insider Buys:
- Alembic Limited: Nirayu Private Limited has bought 24,85,844 shares through Market Purchase on Jun 17, 2019.
- Career Point Limited: Pramod Maheshwari has bought 23,644 shares through Market Purchase from Jun 12, 2019 to Jun 18, 2019.
- Elgi Equipments Limited: Dark Horse Portfolio Investment Limited has bought 1,05,000 shares through Inter-se-Transfer on Jun 17, 2019.
- Kolte – Patil Developers Limited: Vandana Naresh Patil has bought 15,306 shares through Market Purchase on Jun 17, 2019.
- Man Industries (India) Limited: Deepa Rameshchandra Mansukhani has bought 9,00,000 shares through Market Purchase on Jun 18, 2019.
- Man Industries (India) Limited: Rameshchandra Mansukhani has bought 3,00,000 shares through Market Purchase on Jun 18, 2019.
- Man Infraconstruction Limited: Parag K. Shah has bought 28,470 shares through Market Purchase from Jun 17, 2019 to Jun 18, 2019.
- MEP Infrastructure Developers Limited: Anuya J.Mhaiskar has bought 3,14,865 shares through Market Purchase on Jun 17, 2019.
- Panama Petrochem Limited: Ittefaq Ice And Cold Storage Co. Pvt Ltd has bought 50,270 shares through Market Purchase from Jun 17, 2019 to Jun 18, 2019.
- Setco Automotive Limited: Sneha Sheth has bought 20,000 shares through Market Purchase on Jun 17, 2019.
- Setco Automotive Limited: Urja Sheth has bought 20,000 shares through Market Purchase on Jun 17, 2019.
- Tanla Solutions Limited: D. Tanuja Reddy has bought 2,32,500 shares through Market Purchase from Jun 14, 2019 to Jun 17, 2019.
- Vascon Engineers Limited: Lalitha Vasudevan has bought 5,60,000 shares through Market Purchase from Jun 3, 2019 to Jun 18, 2019.
Insider Sells:
- Alembic Limited: Bhailal Amin General Hospital has sold 5,37,643 shares through Market Sale on Jun 17, 2019.
- Alembic Limited: Uday Education Society has sold 19,48,201 shares through Market Sale on Jun 17, 2019.
- Axis Bank Limited: Sunil Sharma has sold 23,250 shares through Market Sale on May 13, 2019.
- Elgi Equipments Limited: Jairam Varadaraj has sold 1,05,000 shares through Inter-se-Transfer on Jun 17, 2019.
- Firstsource Solutions Limited: Mr. Rajesh Subramaniam has sold 1,30,117 shares through Market Sale from Jun 14, 2019 to Jun 17, 2019.
- Indiabulls Housing FiRead More – Source
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