29th June, Morning Brief

Markets is likely to open on a positive note following SGX Nifty.
The index witnessed a breakdown on charts this week as Nifty50 slipped below its crucial support level of 9,500. A technical bounce back cannot be ruled out from current levels but the bullish momentum will continue once Nifty50 surpasses 9,590-9610 levels' zone.

🎯 News & Impact 🎯

🎯 Eris Lifesciences :
Listing today.

🎯 Cabinet approves 7th Pay Commission recommendations on allowances effective July 1, 2017. The revised allowances under the Seventh Pay Commission (7CPC) will be around Rs 30,748 crore a year.
Beneficial for Thomas Cook, Cox & King, Maruti, Relcapital, HDFC.

🎯 Corporation Bank : 
Corporation Bank said it has got shareholders’ nod for raising up to Rs.3,500 crore through share sale.
Positive for the stock. 👍

🎯 UCO Bank :
State run lender UCO Bank, which is planning to raise Rs 3,000 crore capital in the current fiscal, is hoping to turn profitable in the next financial year.
Positive for the stock. 👍

🎯 RCF :
Govt Will Divest 5% Stake In RCF
Floor Price For RCF Stake Sale Set at Rs. 74.25/Share.
Positive for the stock. 👍

🎯 Godrej Industries :
Godrej Industries to sell 400cr worth of shares in Godrej Agrovet IPO. Godrej ind. owns 60.8 % in Agrovet, which is in businesses such as agri-inputs, animal feeds, palm oil manufacturing, dairy and poultry. 
Positive for the stock. 👍

🎯 Fortis Healthcare :
Gets Shareholders' Nod To Hike FII Holding Limit To 74% Of Paid-up Eq Capital.
Positive for the stock. 👍

🎯 Rcom :
Anil Ambani group Asset sale picks up pace.
Positive for the stock. 👍

🎯 Amtek auto :
Bharat Forge, Sona koyo, blackstone in race to buy all or parts of group cos.
Positive for the stock. 👍

🎯 Axis Bank: Private sector lender Axis Bank has raised Rs.3,500 crore by issuing debt securities on a private placement basis. 

🎯 Mindtree :
Approves Buyback Up To Rs. 270 Cr.
Board Approves Buyback For Up To 43.2 Lk Shares At Maximum Rs.625/Share.

🎯 Bhushan Steel :
BM on July 5th to approve results.

🎯 JSW Holdings :
Company plans to lend more to Jindals wife own entity.

🎯 L&T :
Westinghouse to resume designing on $20bn N-Plants.

🎯 Adhunik :
Lenders refer Adhunik Metaliks to NCLT

🎯 HPCL :
Hind Petro to raise 500mn$ thgough dollar bonds.

🎯 Tata Steel :
Tata steel subsidiary Tinplate seeks to undertake business on its own.

🎯 Piramal Enterprises :
Shriram Capital Board Approves Appointment Of Rajesh Laddha As MD,CEO.

Edited by Sharp.
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