5th June, Morning Brief

Market is likely to open in green tracking SGX Nifty, up by 38 points.

After a gap-up opening, the bulls failed to build on to the opening thrust on Friday, suggesting lack of conviction or clarity among the bulls at higher levels. It's very important to see today's closing whether it will sustain on higher levels after positive opening.

Alert : RBI Credit policy on 7th June.

🎯 News & Impact 🎯

🎯 Bank of India :
Saddled with bad loans, Bank of India is exploring the possibility of selling stake in some subsidiaries to unlock capital and turn the corner.

🎯 Wipro :
Keen to start up Big things, deploys 24.5mn$
PremJi's salary drops 63% in FY17.
Positive for the stock. 👍

🎯 Lupin :
US FDA Inspected Lupins Indore Unit On May 8-19.
US FDA Observations:
Lupin Indore Facility Failed To Review Discrepancies In Pdts.
Lupin Indore Ops Did Not Have Written Norms For Mfg Process.
Negative for the stock. 👎

🎯 Satin Credit Care :
Satin Credit Care Raises Rs.100 Cr Via Commercial Paper Issue From M&M Fin.
Satin Credit Care Raises Rs.100 Cr At 10% Per Annum For 3-6 Months.

🎯 Titan :
3% GST Rate On Gold A Very Welcome Move, Step In The Right Direction, says CFO.
Need Some Clarity On Excise-Free Zones For The Watches Business.

🎯 Tata Communications :
Bahrains Batelco & Tata Comm Sign Agmt To Expand The Reach Of Their Global Connectivity & Data Centre Solutions For Customers.

🎯 NTPC :
17 MW out of 250 MW of Mandsaur Solar Power Project has been commissioned.

🎯 Hinduja Global Solutions :
The company announced a leadership change for its UK and Europe business.

🎯 Canfin Homes :
BM on June 23rd to consider sub division of equity shares.
Positive for the stock. 👍

🎯 JSW Steel :
A consortium led by JSW Steel raised its bid for Italy's troubled Ilva steel plant. But whose offer faces labour union opposition.

🎯 NBCC :
The state-run National Building Construction Corp (NBCC) hopes to raise Rs 12,000 crore through e-auction of 11 commercial towers in South Delhi.

🎯 GVK Power :
GVK Power approves sale of corresponding 10% of the issued & paid up share capital in Bangalore International Airport Limited.

🎯 NECC :
Logistics firm North Eastern Carrying Corporation is embarking on an expansion drive with plans to double its reach to 500 locations across India in the next three to four years to tap opportunities after GST implementation.

🎯 Puravankara :
Real estate firm Purvankara will invest Rs. 750 crore on construction of ongoing projects in the current fiscal and is looking for joint venture partners to expand business. 

🎯 Mawana Sugars:  :
The company said it has agreed to enter into one time settlement with SBI in respect of borrowings from State Bank of Hyderabad. 

🎯 Uflex :
Flexible packaging major Uflex is foraying into aseptic liquid packaging segment besides adding more products as it aims an overall volume growth of 15 % this fiscal. 

🎯 Advance Enzymes :
Advance enzymes enters into definitive agreement to acquire Palm techno Ventures Enzyme.

🎯 RPP Infra Projects :
Promoters sold stake and would like to bring the money back in the form of debt and would like to convert debt into equity at a suitable time.

🎯 Selan Exploration :
Defers decision for Buyback of shares.
Cautious on the stock.

🎯 Alankit :
Open offer for 37% of the equity.

🎯 Vedanta :
Ind-Ra revises rating to IND AA/ Stable.

🎯 VST Tillers :
Tractors May sales 800 units and power tillers 1857 units.

🎯 TCI :
TCI successfully incorporated a wholly owned subsidiary by the name, "TCI Nepal Private Limited" on 2nd June, 2017 in Nepal.

🎯 OnMobile Global :
The company announces the launch of ONMO Express in the USA, the company's first consumer App.

🎯 Andhra Bank/Allahbad bank :
Bad loans worth 6000 cr to be sold by Andhra/Allahbad bank.

🎯 SAIL :
Open to acquire good assets , says Chairman PK Singh.

🎯 Welspun Enterprises :
Delhi to rule on Welspun Maharashtra solar project.

🎯 Fortis :
IHH sole contender for Fortis Healthcare as other suitors drop out.

🎯 NTPC :
Gets waiver from buyback Fiat.

🎯 Ramco Cements :
The company appoints Ventarama Raja as CMD.

Edited by Sharp.
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