9th June, Morning Brief

As stated yesterday, market was in consolidation and may continue today also.
May open positively.

🎯 News & Impact 🎯

PSU banks :
Global ratings firm Moody's on Thursday said Indian PSU banks' capital requirements are going to get accentuated further as they need to adhere to the compliance requirements under the Basel-III norms and because of their poor asset quality. Moody's estimates that these lenders may require about Rs 70,000 to Rs 95,000 crore over the next two to three years. 
Cautious over the sector.

🎯 Pidilite :
PUSA (Pidilite USA) subsidiary of the Co. has entered into an agreement with Niteo Products for sale of business of the Cyclo Division of PUSA.
Cyclo Division has been engaged in the business of automobile grooming, performance and maintenance products.

🎯 Indusind Bank :
Raises a $225 million loan from OPIC for its MSME Lending Program.

🎯 Dilip Buildcon :
CARE upgrades credit rating for bank facilities from CARE A- to CARE A for long term facilities & from care A2 TO CARE A1 for short term facilities.

🎯 Aarvee Denim :
The company says manufacturing unit situated at Ranipur Village, Narol, Ahmedabad has been closed w.e.f. 6th June, 2017 due to closer notice issued by Gujarat Pollution Control Board (GPCB) for safety & health issues.
Negative for the stock.

🎯 Hester Biosciences :
The board Approves Investment of USD 3 million in wholly owned African Subsidiary.

🎯 Repco Home Finance :
The company proposes to raise 100 cr by issuing NCD.

🎯 Greenply Industries :
GREENPLY GABON SA, Gabon, West Africa commences commercial production of Veneer', at its manufacturing unit at Nkok SEZ, Gabon, West Africa.

🎯 TTK Prestige :
TTK to buyback 1 lakh shares at Rs.7000/share.
Positive for the company.

🎯 Bodhtree Consulting Ltd. :
The company partners with Infosys to Provide GST solutions, Revenue potential of 200 crores.
Positive for the stock.

🎯 Vikas WSP :
The company allots 5.7cr shares to the promoter on a preferential basis.

🎯 Zee Media :
NCLT approves Scheme of Amalgamation between Zee Media Corporation Limited; and Diligent Media , Mediavest India, Pri-Media Services and Maurya TV.

🎯 Sunteck Realty :
Board Approves Split of equity shares.
Positive for the stock.

🎯 Infosys :
Founders looking to sell stake in the company.
Observe.

🎯 Coal India :
The coal miner plans to shut down 37 underground mines by the end of this financial year, despite unions' plans to strike for three days this month if the decision is not withdrawn, said a report. The move will lead to the redeployment of about 11,000 workers.

🎯 Reliance Capital :
Reliance Capital likely to list general insurance business.
Positive for the stock.

🎯 PNB Housing :
RBI lowered risk weight assigned to home loans lent on or after June 7.
Positive for the stock.

🎯 Maruti :
Maruti plans to spend 1000 cr in land acquaition this year.
Positive for the stock.

🎯 SBI :
Cancels unused letter of credit for stressed telcos. the spotlight is on Rcom,TTML and Aircel.
Positive for the stock.

🎯 SBI :
SBI raises Rs.15,000 Cr Via QIP At Rs. 287.25/Share; Closes QIP, To Issue 52.2 Cr Shares.

🎯 Federal Bank :
The bank said it would be raising funds by issuing debt securities, including non-convertible debentures, tier-ll bonds, long-term bonds, masala bonds and green bonds upto 4000 crores.

🎯 Cairn :
Cairn moves intl panel for injuction against I-T Dept.

🎯 Hero Motocorp :
Hero Moto Corp phases out select models, variants.

🎯 SREI Infra :
SREI Infra and Russian firm to create 200mn $ innovation fund.

🎯 GVK, Lanco :
Gvk & Lanco plan lose money as adani plans to develop a new mine.

🎯 MTNL :
MTNL mulls monetising its real estate assets.
Positive for the stock.

🎯 ONGC :
ONGC to start drilling at Cluster 2 of Krishna Godavari block in Nov.

🎯 Videocon :
Videocon lenders to accompany govt. delegation to resolve issues with Petrobras.

🎯 ICICI Bank :
Bank backed debt fund to raise 3000 crore.

🎯 Piramal Enterprises :
Piramal Enterprises hires three investment banks for 5000cr qip.

🎯 Max :
IRDA denies permission to the merger.
Negative for the stock.

🎯 Cipla :
Cipla arm Saba Invst Enters Into Agmt To Sell Its Entire 99% Stake In Yemen Based-Al Jabal.

🎯 Electrosteel Steels :
Says no Communication From Lenders On Further Dvpt Of SDR/Non-SDR Process.

Edited by Sharp.
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