Stocks To Watch: Sun Pharma, Craftsman Automation, Satin Creditcare, Borosil Renewables

Shares of Sun Pharmaceutical Industries, Craftsman Automation, Satin Creditcare Network and Borosil Renewables will be in focus on Tuesday.

Sun Pharmaceutical Industries Ltd. announced on Monday the completion of its merger with Taro Pharmaceutical Industries, in a transaction valued at $347.73 million.

With this merger, Sun Pharma has acquired all the outstanding ordinary shares of Taro, excluding those previously held by Sun Pharma or its affiliates, according to a statement from the Mumbai-based pharmaceutical giant.

Satin Creditcare Network Ltd. has agreed to raise up to Rs 5,000 crore through non-convertible debentures. The microlender has also approved the appointment of its chief financial officer.

Share indices in Asia-Pacific region were trading higher on Tuesday disregarding overnight losses on Wall Street as investors await Federal Reserve officials' speech to get further cues about policy path.

The Nikkei 225 was trading 11.44 points or 0.3% higher at 38,816.09, and the S&P ASX 200 was 59.10 points or 0.76% higher at 7,792.80 as of 06:50 a.m.

US stocks recovered from initial declines as gains in various sectors beyond technology outweighed a selloff that slashed nearly $400 billion from Nvidia Corp.'s market value.

The S&P 500 Index rose, and the Nasdaq Composite fell by 0.31% and 1.09%, respectively, as of Monday. The Dow Jones Industrial Average rose by 0.67%.

Brent crude was trading 0.09% higher at $86.09 a barrel. Gold declined 0.27% to $2,328.31 an ounce.

The GIFT Nifty was trading 20 points or 0.08% lower at 23,572.00 as of 06:51 a.m.

The Indian benchmark equity indices ended Monday on a positive note after a lower open as shares of private banks and Mahindra & Mahindra Ltd. gained.

The NSE Nifty 50 closed 36.75 points, or 0.16%, up at 23,537.85, while the S&P BSE Sensex ended 131.18 points, or 0.17%, higher at 77,341.08. During the day, both the indices fell as much as 0.6%.

Overseas investors remained net sellers of Indian equities on Monday. Foreign portfolio investors offloaded stocks worth Rs 653.9 crore, while domestic institutional investors remained net sellers and offloaded equities worth Rs 820.5 crore, according to provisional data from the National Stock Exchange.

The Indian currency strengthened by 7 paise to end at Rs 83.47 against the US dollar.

• Satin Creditcare Network: The company has agreed to raise up to Rs 5,000 crore through non-convertible debentures. The microlender has also approved the appointment of its chief financial officer.

• Sun Pharmaceutical Industries: The company successfully completed the merger of Taro Pharmaceutical Industries with its subsidiary company. As part of this merger, Sun Pharma acquired all outstanding ordinary shares of Taro other than those already held by Sun Pharma or its affiliates.

• Shalby: The company has terminated its Franchise Agreement with Madhuban Orthopedic and Multispecialty Surgical Hospital due to breach of various terms & conditions of the agreement by the Franchisee. There will not be any significant financial impact on the Company’s financial position.

• Craftsman Automation: The company signed a MoU with Sunbeam Lightweighting Solutions and Kedaara Capital to acquire the whole or part of the business of Sunbeam.

• Borosil Renewables: The company opened QIP and set floor price at Rs 331.75 per share which indicates a discount of 4.6% to the stock's previous close.

• RBL Bank: The bank will consider a fund-raising proposal through QIP on June 27.

• AU Small Finance Bank: The financial institution to consider raising funds through QIP on June 27.

• Allied Blenders and Distillers: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 267 to Rs 281 per share. The Rs 1,500 crore IPO is a combination of a fresh issue of Rs 1,000 crore and the rest of the offer for sale. The company has raised Rs 449 crore from anchor investors.

• Stanley Lifestyles: The public issue was subscribed to 5.22 times on day 2. The bids were led by institutional investors (0.74 times), non-institutional investors (8.86 times), retail investors (6.11 times).

• Cartrade Tech: Highdell Investment sold 40.65 lakh shares (8.67%) at Rs 828.58 apiece, Cmdb II sold 3.6 lakh shares (0.76%) at Rs 830.27 apiece and Macritchie Investments sold 20.32 lakh shares (4.33%) at Rs 828 apiece. On the other hand, Goldman Sachs Funds Goldman Sachs India Equity Portfolio bought 6.19 lakh shares (1.32%) at Rs 828 apiece and The Royal Bank of Scotland PLC as Trustee Of Jupiter India Fund bought 4.89 lakh shares (1.04%) at Rs 829.06 apiece. Societe General also bought 5.95 lakh shares (1.27%) at Rs 828 apiece, Verition Multi-Strategy Master Fund bought 5.04 lakh shares (1.07%) at Rs 828 apiece and Patronus Tradetech LLP bought 4.87 lakh shares (1.04%) at Rs 828.63 apiece. Bajaj Allianz Life Insurance acquired 4.83 lakh shares (1.03%) at Rs 828 apiece, HSBC Global Investment Funds Asia Ex Japan Equity Smaller bought 4.34 lakh shares (0.92%) at Rs 828 apiece, CLSA Global Markets Pte Ltd - Odi bought 2.46 lakh shares (0.52%) at Rs 828 apiece and Irage Broking Services LLP bought 2.36 lakh shares (0.5%) at Rs 828.93 apiece.

• Arvind: Aura Securities sold 40 lakh shares (1.52%) at Rs 350.04 apiece.

• R R Kabel: Ram Ratna Research and Holdings sold 5.90 lakh shares (0.5%) at Rs 1,735 apiece.

• Allcargo Logistics: Shashi Kiran Janardhan Shetty sold 69.06 lakh shares (2.81%) at Rs 60.58 apiece.

• Tide Water Oil: Standard Greases and Specialities Private Limited bought 1.62 lakh shares (0.92%) at Rs 2029.37 apiece.

• Star Cement: Promoter Laxmi Chamaria sold 2.05 lakh shares between June 18 to 21.

• Advanced Enzyme Technologies: Promoter Chandrakumar Laxminarayan Rathi sold 28,988 shares between June 19 and 20.

• Price Band revised from 10% to 5%: Omaxe, Windsor Machines.

• Ex/record rights issue: SEPC.

• Ex/record dividend: Voltas, Alkyl Amines Chemicals, Cera Sanitaryware, Tata Elxsi.

• Ex/record AGM: Indian Overseas Bank, Voltas, Alkyl Amines Chemicals, JSW Holdings, Cera Sanitaryware, Dodla Dairy, Tata Elxsi.

• Moved out short-term Framework: Bhansali Engineering Polymers, Cosmo First, Exicom Tele-Systems, Hester Biosciences, C.E. Info Systems.

• Moved in short-term Framework: Associated Alcohols And Breweries, Dredging Corporation of India, Elecon Engineering, Hindustan Construction, Reliance Power, SEPC.

• Punjab Chemicals And Crop Protection: To meet analyst and Investors on June 28.

• Schneider Electric Infrastructure: To meet analyst and Investors on June 27.

• Motherson Sumi Wiring India: To meet analyst and Investors on June 28.

• Jindal Saw: To meet analyst and Investors on June 28.

• Vedanta: To meet analysts and Investors on June 27.

• Nifty June futures up by 0.29% to 23,555 at a premium of 18 points.

• Nifty June futures open interest down by 1.84%.

• Nifty Bank June futures up by 0.35% to 51,794.7 at a premium of 90.75 points.

• Nifty Bank June futures open interest up by 6.14%.

• 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 49,000.

• Securities in ban period: Balrampur Chini Mills, Chambal Fertilizers, GNFC, Granules, Indus Tower, Piramal Enterprises, PNB, Sail.

• Allied Blenders And Distillers IPO- Investment Rationale, Issue Details, Financials, Risks & More: Anand Rathi

• IT Q1 Results Preview - Expect Status Quo On Demand Commentary: Nirmal Bang

• ICICI Bank - Well Poised To Sustain Best-In-Class Performance: Motilal Oswal

• Ujjivan Small Finance Bank - Strategic Update Along With Guidance Revision: Systematix

• Prince Pipes - Pipe Demand Remains Buoyant: ICICI Securities

• Star Health - Robust Growth Outlook, Attractive Valuations: Motilal Oswal