Stocks that are hitting the headlines: Adani Group, Axis Bank, Info Edge, NTPC, Ruchi Soya, and other stocks.
Following a mixed trend in Asian markets, the Sensex and Nifty are expected to open lower on June 14 (Monday). At 7:00 a.m. (June 14), the Nifty was trading at 15,768 points, down 55.00 points or 0.35 percent. In a favourable trend in global stocks, the Sensex and Nifty closed at record highs on Friday, powered by increases in index heavyweights Reliance Industries, Infosys, and TCS. The Sensex closed the day 174.29 points or 0.33 percent higher at 52,474, while the Nifty advanced 61 points or 0.39 percent to 15,799.
Adani Group Stocks: National Securities Depository Ltd (NSDL) has suspended the accounts of three foreign funds that collectively held shares in four Adani Group companies worth Rs 43,500 crore. According to the website of the concerned depository, the accounts of Albula Investment Fund, Cresta Fund, and APMS Investment Fund were blocked on or before May 31.
Adani Enterprises: The company has formed Adani Cement, which is a completely owned subsidiary. Adani Capital has an approved share capital of Rs 10 lakh and a paid-up share capital of Rs 5 lakh, according to Adani Enterprises’ filing. There are 50,000 Rs 10 equity shares in the new subsidiary.
Coal India: Coal India is a government-owned company. Under its e-auction sales policy, Coal India has abolished the prohibition on coal exports. Coal buyers, including traders, can now export coal purchased through this means.
Reliance Power: Reliance Power’s board of directors has approved a preferential offer of shares and warrants to promoter company Reliance Infrastructure Ltd worth up to Rs Rs 1,325 crore (RInfra).
Ruchi Soya: Ruchi Soya has filed a draught document with SEBI to undertake a follow-on public offering (FPO) with a target price of Rs 4,300 crore.
Lupin: The pharma manufacturer Lupin has received a warning letter from the US Food and Drug Administration for its Somerset plant in the United States. From September 10, 2020, until November 5, 2020, the US Food and Drug Administration (USFDA) visited the company’s Somerset, New Jersey, plant.
Axis Bank: According to Max Life Insurance CEO Prashant Tripathy, the private lender is likely to increase its investment in the insurance company to around 20% in the next 12-18 months. Following the clearance of the purchase in April this year, Axis Bank and its two subsidiaries — Axis Capital Ltd and Axis Securities — now possess a combined 12.99% of Max Life Insurance.
NTPC: The power company has issued a global expression of interest (EoI) for the installation of a hydrogen fuel-based power backup system as well as a standalone fuel-cell microgrid system.
Indiabulls Housing Finance: On June 11, the Blackrock Fund purchased over 25 lakh shares in Indiabulls Housing Finance, increasing its holding in the mortgage lender to moreover 3%. According to bulk deals data, Blackrock Emerging Markets Fund purchased 25,50,957 shares in Indiabulls Housing Finance (representing half a percent of total paid-up stock) at Rs 287.84 a share on the NSE.
Accelya Solutions India: Plutus Wealth Management purchased seven lakh Accelya Solutions India shares (representing 4.68 percent of the paid-up stock) at Rs 1,194.91 per share. Accelya’s promoter owned 89.27 percent of the company. The company is a prominent provider of travel and transportation technology products and services.
Globus Spirits: On the NSE, Templeton Strategic Emerging Markets Fund IV LDC sold 3.31 lakh shares in Globus Spirits for Rs 383.22 per share. At Rs 383.66 per share, Rajasthan Global Securities purchased 1,80,210 equity shares in the company.
Bharat Forge: The promoter group’s Ajinkya Investment & Trading Company sold 46,56,000 shares in Bharat Forge, one of India’s major forging enterprises, at Rs 750.8 a share.
Bank of Maharashtra: According to AS Rajeev, the lender’s Managing Director and CEO, the lender plans to raise up to Rs 2,000 crore through qualified institutional placement (QIP) before the end of July. The Pune-based lender gained board clearance in April this year to raise Rs 5,000 crore through a QIP/rights issue/preferential offering or by issuing Basel III bonds.
Info Edge: The business has reached an agreement to purchase Zwayam Digital Pvt Ltd’s whole share capital.
Shriram Transport Finance: Through its latest qualified institutions placement (QIP) offering, the auto finance company has raised close to Rs 2,000 crore. The offering began on June 7 and ended on June 11, according to the business.