Stocks To Watch: Automakers, Canara Bank, Aurobindo Pharma, REC, Adani Ports
Here are the stocks to watch before going into trade today.
Canara Bank will be in focus during Monday's trade after it announced plans to dilute 14.5% stake in its life insurance venture, Canara HSBC Life Insurance Co., through an initial public offering.
The board of REC Ltd. has approved the proposal to raise Rs 1.45 lakh crore in one or more tranches. The fundraise is subject to the approval of the shareholders at the ensuing annual general meeting.
Adani International Ports Holdings Pte.—a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd.—has signed a 30-year concession agreement with the Tanzania Ports Authority.
Stocks in the Asia-Pacific region were trading higher on Monday tracking last week's positive close and renewed rate-cut hopes by the Federal Reserve.
The Nikkei 225 was 524 points or 1.36% up at 39,012, and the S&P ASX 200 was 60.76 points or 0.79% higher at ,7762, as of 06:53 a.m.
A renewed bout of volatility gripped US stocks in the final stretch of Friday session, with most of them ending higher in the final 20 minutes of trading.
The S&P 500 Index and Nasdaq Composite rose 0.80% and 1.51%, respectively, as of Friday. The Dow Jones Industrial Average fell 0.01%.
Brent crude was trading 0.33% lower at $81.38 a barrel. Gold rose 0.16% to $2,331.00 an ounce.
The GIFT Nifty was trading 596 points or 2.62% down at 23,343.5 as of 06:54 a.m.
India’s benchmark equity indices erased most of their early losses to end marginally higher on Friday, ahead of the gross domestic product data release later in the day. On a weekly basis, the Nifty recorded its worst fall since the week-ended May 10.
The NSE Nifty 50 closed 0.19%, or 42.05 points, higher at 22,530.70, while the S&P BSE Sensex ended 0.10%, or 75.71 points, up at 73,961.31.
Overseas investors turned net buyers on Friday after two days of selling. Foreign portfolio investors mopped up stocks worth Rs 1,613.2 crore, while domestic institutional investors stayed net buyers for nine straight sessions and bought equities worth Rs 2,114.2 crore, the NSE data showed.
The Indian rupee weakened by 15 paise to close at Rs 83.46 against the US dollar.
Stocks to Watch
Canara Bank: The company is to dilute a 14.5% stake in the arm of Canara HSBC Life through IPO.
Aurobindo Pharma: The company’s arm executed a master service pact with Merck Sharpe and will invest Rs 1,000 crore for the manufacturing facility.
REC: The company approved raising up to Rs 1.45 lakh crore through bonds and Appointed Harsh Baweja as CFO.
Inox Wind: The board of the company has approved raising Rs 1,000 crore in one or more tranches through preference shares. The fundraising is subject to all requisite approvals, including that of the shareholders.
Adani Ports And Special Economic Zone: The company's arm has signed a 30-year concession pact with the Tanzania Ports Authority for container terminals.
Wipro: The company has expanded its retail media offering partnering with Cisco, and AT&T.
NTPC: The company commissioned the second & last part capacity of 33 MW out of the 90 MW Anta Solar PV Project in Rajasthan. The company's total capacity on standalone and group basis now stands at 59,168 MW & 76,048 MW respectively.
Bank of India: The company is to raise MCLR by 5 bps across most tenures effective June 1.
Angel One: The company arm incorporated wholly owned subsidiary for distribution of financial products and services.
PNC Infratech: The company arm gets a one-time settlement amount worth Rs 391 crore from NHAI.
Bulk Deals
Blue Cloud Softech Solutions: Supraja Business Consultants sold 13 lakh shares (0.59%) at Rs 88.7 apiece, while Duranta Infrastructure sold 12 lakh shares (0.55%) at Rs 88.7 apiece.
Berger Paints: Integrated Core Strategies (Asia) bought 92.85 lakh shares (0.79%) at Rs 460.94 apiece.
CarTrade Tech: Cmdb Ii sold 18.76 lakh shares (4%) at Rs 900 apiece, Tt Emerging Markets Unconstrained Fund bought 5.46 lakh shares (1.16%) at Rs 900 apiece.
Indraprastha Gas: Integrated Core Strategies (Asia) bought 99.72 lakh shares (1.42%) at Rs 442.12 apiece.
Jindal Stainless: BNP Paribas Financial Markets sold 52.04 lakh shares (0.63%) at Rs 784.95 apiece, Copthall Mauritius Investment sold 49.83 lakh shares (0.6%) at Rs 793.13 apiece, Integrated Core Strategies (Asia). sold 43.95 lakh shares (0.53%) at Rs 792.23 apiece.
Phoenix Mills: BNP Paribas Financial Markets sold 14.67 lakh shares (0.82%) at Rs 3092.11 apiece, Copthall Mauritius Investment sold 9.27 lakh shares (0.51%) at Rs 3094.54 apiece, Integrated Core Strategies (Asia) sold 12.38 lakh shares (0.69%) at Rs 3093.85 apiece.
PB Fintech: BNP Paribas Financial Markets sold 27.33 lakh shares (0.6%) at Rs 1287.33 apiece, Copthall Mauritius Investment Limited sold 29.64 lakh shares (0.65%) at Rs 1291.67 apiece, UBS Principal Capital Asia Limited sold 26.66 lakh shares (0.59%) at Rs 1292.89 apiece.
Sundaram Finance: BNP Paribas Financial Markets sold 9.27 lakh shares (0.83%) at Rs 4270.28 apiece, Copthall Mauritius Investment Limited sold 7.73 lakh shares (0.69%) at Rs 4279.69 apiece, Integrated Core Strategies (Asia) Pte. Ltd. sold 7.57 lakh shares (0.68%) at Rs 4280.45 apiece, UBS Principal Capital Asia Limited sold 9.57 lakh shares (0.86%) at Rs 4277.64 apiece.
Torrent Power: Integrated Core Strategies (Asia) Pte. Ltd. sold 24.69 lakh shares (0.51%) at Rs 1498.79 apiece.
Thermax: Integrated Core Strategies (Asia) Pte. Ltd. sold 10.34 lakh shares (0.86%) at Rs 5403.76 apiece.
Insider Trades
Chambal Fertilizers and Chemicals: Promoter Zuari Industries created a pledge for 17 lakh shares on May 28, Promoter Zuari Industries created a pledge for 17 Lakh shares.
Kfin Technologies: Promoter General Atlantic Singapore Fund Pte. sold 1 crore shares.
Trading Tweaks
Price Band Change from 5% to 20%: PTC India Financial Services.
Ex/record dividend: Rallis India, Sundaram Fasteners, Anand Rathi Wealth, D. B Corp, ITC,
Ex/record Buyback: Anand Rathi Wealth.
Moved into short term Framework: IIFL Securities.
F&O Cues
Nifty June futures up by 0.34% to 22,700.7 at a premium of 170 points.
Nifty June futures open interest up by 8.16%.
Nifty Bank June futures up by 0.7 % to 49,352.35 at a premium of 458.4 points.
Nifty Bank June futures open interest down by 7.34%.
Nifty Options June 6 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 20,200.
Bank Nifty Options June 5 Expiry: Maximum Call Open Interest at 57,000 and Maximum Put open interest at 40,000.
Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
