27th June, Morning Brief

Market will open on positive side tracking SGX Nifty. Maximum Put open interest concentration is around strike price 9,500 and maximum Call open interest concentration is around strike price 9,700. Nifty has a very good support around 9550 and it will be breached on the closing basis, more lower side upto 9380. Even a trending support also comes at 9570.

🎯 News & Impact 🎯

🎯 Tejas Networks - New listing.

🎯 Grasim :
July 20 is record date for demerger of financial services from Grasim.
7 shares of Aditya Birla Capital for 2 shares of Grasim.

🎯 Reliance :
Reliance will seek shareholder’s approval to issue redeemable non-convertible debentures on private placement basis to raise Rs 25,000 crore.

🎯 Nocil :
Board approves to sell 4,71,015 shares of Navin Fluorine worth Rs.141 crore.
Cash on balance sheet is Rs 121 crore.

🎯 Sterlite Technologies :
Selected as master system integrator for the Kakinada smart city project.
To design, build & manage Kakinada smart city over next 6 years.
Will supply equipment for command center, CCTV, wifi and other electronic equipment.

🎯 Cadila Healthcare :
Board approves raising fund up to Rs. 10,000 crore via QIP/ADR/GDR.
Board approves issuing NCDs, FCBs up to Rs 3,500 crore via private placement.
Zydus gets US FDA nod for hepatitis-B drug, Entecavir tablet.
Positive for the stock.

🎯 Natco Pharma :
gets US FDA nod for Azacitidine powder (used to treat myelodysplastic syndrome).
Positive for the stock.

🎯 Auropharma :
US FDA completes inspection of Aurobindo Pharma's unit 7.
US FDA issues zero observations to Aurobindo Pharma's unit 7 which is one of the largest facilities for Aurobindo Pharma.
Positive for the stock.

🎯 Amtek Auto :
Board discussed issue of company falling under Insolvency & Bankruptcy Code.
John Flinhtham and Sanjiv Bhasin appointed President.

🎯 Bajaj Hindustan :
Company's joint lenders forum (JLF) decided that company's loan account to be taken up under S4A Scheme.
Proposal for sale of co-generation power business shelved.
Bankers to evaluate & formulate plan for resolution as per S4A scheme.

🎯 Infosys :
Audit committee did not find any evidence of wrong doing whatsoever.

🎯 JSW Steel :
To consider raising additional long term resources through issuance of NCDs with warrants convertible into equity shares and/or equity shares and/or convertible warrants, by way of a Qualified Institutional Placement and issuance of FCCBs, ADRs, GDRs, warrants or convertible instruments in course of an international offering. 

🎯 Endurance Technology :
Crisil upgrades long term rating to AA/stable from AA-/positive.

🎯 Uco Bank :
ICRA revises on tier II bonds to A from AA-.
Positive for the stock.

🎯 LT Foods :
inaugurates rice plant at Rotterdam, Netherlands with capacity of 60,000 tonnes.

🎯 Hind Petro :
HPCL joins talks to buy stake in Russian oil fields.

🎯 SAIL :
Steel authority eyes South Africa, Canada for coal import.

🎯 Adhunik Metals :
To plead insolvency.
Negative for the stock.

🎯 HDFC :
Seeks shareholders nod for Rs 18,000 crore fund raising.

🎯 ONGC :
ONGC mulls using GSPC's undersea infra to produce gas from KG-Basin fields.

🎯 Syndicate Bank :
Syndicate bank gets shareholders' nod for raising capital worth Rs 3,500 crore.

🎯 Capital First :
Capital First said that the Debenture Committee constituted by the board of directors of the company at its meeting held on June 23, 2017 has approved an issue of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures of Rs 25 crore plus green shoe option of Rs 25 crore on private placement basis. 

🎯 Infibeam Incorporation :
The company said that a meeting of the board of directors of the company will be held on July 13, 2017 to consider stock-split proposal of equity shares of the company.

Edited by Sharp.
Sharp Investment & Financial Advisers