Shares of Sanghi Industries Ltd., NTPC Ltd., Zee Entertainment Enterprises Ltd. and Mindspace Business Parks REIT will be in focus on Wednesday.
Sanghi Industries' promoters Ambuja Cements Ltd. and Ravi Sanghi will sell up to 3.52% stake in the open market via the offer-for-sale route. The Adani Group company plans to offload up to 60.9 lakh shares, representing 2.36% equity, and Ravi Sanghi will offer up to 30 lakh shares or 1.16%.
State-owned NTPC is planning to raise Rs 12,000 crore through non-convertible debentures. The fundraise is subject to approval by the board and shareholders.
The National Company Law Tribunal in Mumbai has allowed Zee Entertainment Enterprises to withdraw its application for implementing its merger with Culver Max Entertainment Pvt., formerly known as Sony Pictures Networks India Pvt.
Benchmarks in Asia-Pacific region struggled to find direction in early trade on Wednesday as investors assessed Federal Reserve speakers comments to get fresh cues about the central bank policy path going forward.
The Nikkei 225 was trading 204.32 points or 0.52% higher at 39,377.47, and the S&P ASX 200 was trading 41.30 points or 0.53% lower at 7,797.50 as of 06:55 a.m.
A surge in US technology firms boosted stock markets as traders appeared to overlook soft economic indicators.
The S&P 500 Index and Nasdaq Composite rose by 0.39% and 1.26%, respectively, as of Tuesday. The Dow Jones Industrial Average fell 0.78%.
Brent crude was trading 0.02% lower at $84.99 a barrel. Gold was up 0.03% at $2,320.36 an ounce.
The GIFT Nifty was trading 16.5 points or 0.1% higher at 23,701.00 as of 06:57 a.m.
A rally in banking and financial stocks pushed India's benchmark equity indices to another record on Tuesday amid strong domestic cues. The NSE Nifty 50 hit a fresh record for the 34th time this year, while the 1,000-point journey of the S&P BSE Sensex to cross the milestone of 78,000 was done in 11 sessions.
The Nifty closed 183.45 points, or 0.78%, higher at 23,721.30, while the Sensex ended 712.44 points, or 0.92%, up at 78,053.52.
Overseas investors turned net buyers on Tuesday after two days of selling. Foreign portfolio investors mopped up stocks worth Rs 1,175.9 crore, while domestic institutional investors stayed net sellers and offloaded equities worth Rs 149.5 crore, the NSE data showed.
The Indian rupee strengthened 3 paise against the US dollar to close at Rs 83.43.
Stocks to Watch
Sanghi Industries: Promoter Ambuja Cements and Ravi Sanghi to sell up to 3.52% stake via OFS. Ambuja Cements is to sell up to 2.36% stake via OFS, and Ravi Sanghi is to offload up to 1.16%. The floor price of OFS has been set at Rs 90 per share. OFS to open on June 26 for non-retail investors and on June 27 for retail investors.
NTPC: The company is to hold a board meeting on June 29 to consider raising funds upto Rs 12,000 crore via NCDs subject to approval of shareholders.
Zee Entertainment Enterprises: NCLT permits the withdrawal of the implementation application filed for the Sony India merger.
Mindspace Business Parks REIT: The company raised Rs 650 crores from International Finance Corp via the issuance of sustainability-linked bonds.
Popular Vehicles And Services: The company’s unit gets a show cause notice from Tamil Nadu Pollution Control Board for violation of water pollution regulations.
Borosil: The company raised Rs 150 crore via QIP and allotted 47.2 lakh shares at Rs 318 per share which indicates a discount of 4.14% to the floor price.
IDBI Bank: Arun Bansal resigned as Executive Director and Head of Treasury (on contract) effective June 25.
Vishnu Prakash R Punglia: The company received a Rs 273.11 crore order from Uttar Pradesh Jal Nigam.
Time Technoplast: The company received an additional order worth Rs 55 crore from Indian Oil Corporation for the supply of Composite cylinders.
Gulshan Polyols: The company has started commercial operations of Ethanol at their 250 KLPD Capacity Grain-based Ethanol Plant in Goalpara, Distt. Assam.
Yes Bank: The bank to consider raising funds via debt securities on August 23, 2024.
Mahindra and Mahindra Financial Services: Vivek Karve resigned as CFO effective October 31.
Mazagon Dock Shipbuilders: The Department of Public Enterprises approves the proposal for the grant of Navratna status to the company.
Rattanindia Enterprises: Vijay Nehra resigned as COO effective June 24.
Listing
Akme Fintrade India: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 120 apiece The Rs 132-crore IPO was subscribed 55.12 times on its third and final day. Bids were led by institutional investors (28.12 times), retail investors (45.78 times), non-institutional investors (144 times), and portion reserved for employees (5.53 times).
DEE Development Engineers: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 203 apiece. The Rs 418-crore IPO was subscribed 99.56 times on its third and final day. Bids were led by institutional investors (201.91 times), retail investors (23.42 times), non-institutional investors (144 times), portion reserved for employees (44.73 times).
IPO Offering
Allied Blenders and Distillers: The public issue was subscribed to 0.57 times on day 1. The bids were led by institutional investors (0.02 times), non-institutional investors (0.87 times), retail investors (0.63 times), portion reserved for Employees (2.05 times)
Stanley Lifestyles: The public issue was subscribed to 96.98 times on day 3. The bids were led by institutional investors (222.1 times), non-institutional investors (119.52 times), retail investors (19.21 times).
Vraj Iron and Steel: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 195 to Rs 207 per share. The Rs 171 crore IPO is an entirely a fresh issue. The company has raised Rs 51 crore from anchor investors.
Block Deals
Dhani Services: Societe Generale bought 1 crore shares (1.63%) at Rs 52.08 apiece, while Bofa Securities Europe Sa sold 100 lakh shares (1.63%) at Rs 52.08 apiece.
Ramkrishna Forgings: Societe Generale bought 31.17 lakh shares (1.94%) at Rs 920.75 apiece, while Bofa Securities Europe Sa sold 31.17 lakh shares (1.94%) at Rs 920.75 apiece.
Tilaknagar Industries: Societe Generale bought 35.3 lakh shares (1.84%) at Rs 255.45 apiece, while Bofa Securities Europe Sa sold 35.3 lakh shares (1.84%) at Rs 255.45 apiece.
Alkem Laboratories: Seema Singh sold 3.58 lakh shares (0.3%) at Rs 4956 apiece, while ICICI Prudential Mutual Fund bought 1.92 lakh shares (0.15%) at Rs 4956 apiece. Morgan Stanley Asia Singapore Pte bought 0.98 lakh shares (0.08%) at Rs 4956 apiece and Aditya Birla Sun Life Mutual Fund bought 0.7 lakh shares (0.05%) at Rs 4956 apiece.
Bulk Deals
Happiest Minds Technologies: Ashok Soota sold 91.36 lakh shares (6%) at Rs 834.87 apiece. On the other hand, Mansi Share & Stock Advisors bought 9.3 lakh shares (0.61%) at Rs 837.57 apiece and PRB Securities bought 9.1 lakh shares (0.59%) at Rs 843.6 apiece.
Moschip Technologies: Naveed Ahmed Sherwani sold 17.69 lakh shares (0.97%) at Rs 303.32 apiece.
Restaurant Brands Asia: Goldman Sachs Funds - Goldman Sachs India Equity Portfolio sold 47.97 lakh shares (0.96%) at Rs 104.05 apiece.
DCB Bank: DSP Mutual Fund sold 17 lakh shares (0.54%) at Rs 140.15 apiece, while India First Life Insurance Company Limited bought 20.23 lakh shares (0.64%) at Rs 140.15 apiece.
Dodla Dairy: Mylktree Consultants LLP sold 7.36 lakh shares (1.23%) at Rs 1,000 apiece, while Pinebridge Inv Asia Limited A/C Pb Global Funds-Pinebridge India EQ Fund bought 8.25 lakh shares (1.38%) at Rs 1,000 apiece.
Jupiter Wagons: Copthall Mauritius Investment Ltd bought 32.79 lakh shares (0.82%) at Rs 652 apiece.
Le Travenues Technology: Steadview Capital Master Fund bought 20.13 lakh shares (0.52%) at Rs 163.83 apiece.
Tourism Finance Corporation of India: Giriraj Ratan Damani bought 5 lakh shares (0.55%) at Rs 200.54 apiece.
Insider Trades
Paisalo Digital: Promoter Equilibrated Venture Cflow bought 31.18 lakh shares on June 25.
Tide Water Oil: Promoter Standard Greases & Specialities sold 2.47 lakh shares on June 24.
Sterling and Wilson Renewable Energy: Promoter Rohiqa Cyrus Mistry sold 32,938 shares on June 20.
Gravita India: Promoter Rajat Agrawal sold 14 lakh shares on June 21.
Trading Tweaks
Ex/record dividend: Welspun Living, Aegis Logistics.
Ex/record AGM: Welspun Living.
Moved out short-term Framework: Omaxe, Vardhman Holdings.
Moved in short-term Framework: Bajaj Hindusthan Sugar, IIFL Securities, Marine Electricals (India), Praj Industries.
Who’s Meeting Whom
Tega Industries: To meet analyst and Investors on June 28.
Nuvoco Vistas Corporation: To meet analyst and Investors on June 27.
Fino Payments Bank: To meet analyst and Investors on June 26.
Gravita India: To meet analyst and Investors on June 28 to July 2,3, 4.
F&O Cues
Nifty June futures up by 0.81% to 23,731.25 at a premium of 10 points.
Nifty June futures open interest down by 12.6%.
Nifty Bank June futures up by 1.73% to 52,626.85 at a premium of 21 points.
Nifty Bank June futures open interest down by 14.7%.
Nifty Options June 27 Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 23,000.
Bank Nifty Options June 26 Expiry: Maximum Call Open Interest at 54,000 and Maximum Put open interest at 50,000.
Securities in ban period: GNFC, Indus Tower, PNB, Sail.
Research Reports
Budget 2025 Preview - Spending Growth Likely To Be Increased In FY25: Motilal Oswal
Ujjivan Small Finance Bank - Profit Warning In Core MFI Business: HDFC Securities
Yasho Industries - Pakhajan Project To Drive The Next Leg Of Growth: Prabhudas Lilladher
India Oil And Gas Sector Check - Value Trade Is Fading Away: Motilal Oswal
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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