6th June, Morning Brief

Markets are likely to open on a flat note tracking SGX Nifty.

🎯 News & Impact 🎯

🎯 ICICI Bank :
ICICI Bank said, it will sell a part of its stake in joint-venture firm ICICI Lombard General Insurance Company Ltd through an Initial Public Offer.

🎯 Abirla Nuvo :
National Co Law Tribunal Approves Merger Of AB Nuvo With Grasim.
Approves Listing Of AB Fin Services likely in August.

🎯 SBI :
SBI Opens Issue For Receiving Bids For Capital Raising.
SBI QIP Floor Price At Rs.287.58/Share For Issue To Raise Rs.15,000 Cr Via Sale Of 522 m Shares.
Bankers On QIP Include BofA-ML, Kotak, Deutsche, IIFL, JM Fin, SBI Caps.
LIC Likely To Be The Single Largest Investor In SBI QIP Worth Over Rs.7,000 Cr Via QIP.

🎯 Adani Power :
The board of Adani Power will meet on Tuesday to consider hiving off its flagship Mundra power station to a new subsidiary in which a Gujarat government entity may take a majority stake.

🎯 Tata Motors :
Tata Motors To Appoint COO To Oversee Domestic & International Ops.
Tata Motors CV Biz Executive Director Ravi Pisharody To Step Down.
Satish Borwankar Appointed As Tata Motoers COO With Immediate Effect.

🎯 Cadila Healthcare :
Cadilahc's facility at Baddi receives Establishment Inspection Report from USFDA.
Cautious on the stock.

🎯 ITC :
ITC would sell premium fruits and vegetables and pricey processed foods, competing directly with existing retailers and newage grocers such as Amazon Fresh, hastening its transformation into one of India’s most diversified consumer companies from just the country’s biggest cigarette maker. 

🎯 PFC :
The company has offered a RS.3,600-crore loan to four distribution companies of Uttar Pradesh to help them lay infrastructure for new connections. The three-year loan, the largest ever to be offered by the state-run financier to distribution companies, will help the state provide new connections to 11.4 lakh households in remote areas.

🎯 Gufic Bio Science :
Guficbio receives 2 patent certificates from the Patent Office, GOI.

🎯 Wipro :
Wipro clarifies no truth to Sale of Business.
Wipro Gets Shareholder Nod For Raising Share Cap To Rs.1,127 Cr.

🎯 IBRealest :
Indiabulls Real Estate proposes to issue NCD's aggregating Rs.75 crore, on a private placement basis.

🎯 Bharti Airtel :
The telcom major is in talks with Google for deployment of WiFI hotspots for the US internet major’s station WiFi service in India, a move that can help India’s top telco improve broadband experience as it fights to retain, if not add, subscribers amid intense competition. 

🎯 India Grid Trust : 
India Grid Trust, which recently concluded its Rs 2,250 crore initial public offering, is going to make its stock market debut on June 6. 

🎯 Capital First :
The company approved allotment of NCD's aggregating to Rs.50cr.

🎯 Everest Organics :
USFDA inspects Manufacturing Facility at Aroor Village and approved the facility.

🎯 Manugraph :
India says USA subsidiary files for voluntary bankruptcy.

🎯 CARE :
Rating agency plans 10% share buyback

🎯 Jet Airwyas :
Jet Airways faces safety audits.

🎯 HPCL to raise 27000 cr for Rajasthan refinery.

🎯 NALCO :
Nalco eyes domestic expansion as it puts Iran project on hold.

Edited by Sharp.
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