7th June, Morning Brief

Market may open flat and react over RBI Policy Outcome.
The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, has begun its 2-day meeting expecting to hold key rates the same.
The IMD has upgraded its monsoon forecast from 96% forecast on April 18 to 98% on Tuesday. 

🎯 News & Impact 🎯

🎯 RCom :
Moddys revises rating to Ca from Caa1.
Fitch revises rating to RD from CCC.
Cautious over the stock.

🎯 Yes Bank :
Shareholders approve increase in borrowing limit to Rs.70,000 crore from Rs.50,000 crore.
Shareholders approve fundraising up to Rs.20,000 crore via non-convertible debentures (NCDs)

🎯 Adani Enterprises :
Stake in Adani Green Energy diluted to below 50 %.
Adani Green ceases to be a unit of Adani Enterprises.

🎯 Oil India :
Makes hydrocarbon discovery in Baghjan, Assam.
Discovered fields put on regular production.

🎯 Sical Logistics :
Receives letter of acceptance by Mahanadi Coal Fields for extraction, order value Rs.289 crore for 3 years.

🎯 Meera Industries :
Meera Industries wholly owned subsidiary company in the name and style of Meera Industries USA LLC, formed in North Carolina State of USA

🎯 Rattan India Infra :
Rattan India says open offer for acquisition of up to 35 crore shares by a number of buyers.

🎯 Rattan India Power :
The company says 32 crore warrants held in company by Yantra Energetics Private Limited stand lapsed.

🎯 ONGC :
ONGC may buy out entire government's stake in HPCL.
Positive for the stock.

🎯 Bhushan Steel : 
Serious Fraud Investigation Office begins probe into 2 Bhushan group companies.
Negative for the stock.

🎯 GE Shipping :
GE Shipping says no significant capex in FY18.

🎯 Vivimed Lab :
The company gets zero US FDA observations for API facility at Sant Celoni, Spain.
Positive for the stock.

🎯 Lakshmi Vilas Bank :
The bank appoints BK Manjunath as part-time chairman of the bank.

🎯 Canara Bank :
The bank cuts MCLR by 0.05 percent for various maturities.

🎯 Adani Power :
The board approves slump sale of Mundra Power business to subsidiary Adani Power (Mundra).

Edited by Sharp.
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