Stocks in the news: Suzlon Energy, Jain Irrigation, DLF, SBI, IndusInd Bank and Jet Airways
Insolvency proceedings have been initiated against debt-ridden Jet Airways.
Suzlon Energy: The company has told its lenders that Canadian investor Brookfield is keen to acquire majority stake in it, which would help the cash-strapped renewable energy company settle its loans if the lenders were to give a waiver. Suzlon has offered a one-time settlement proposal to its lenders.
Jet Airways: Insolvency proceedings have been initiated against debt-ridden Jet Airways, which formally stopped flying on April 17 and saw lenders voting for bankruptcy earlier this month.
Jain Irrigation: Global ratings agency Fitch Ratings Friday downgraded Jain Irrigation Systems on concerns around its debt levels and aggressive growth pursued by the management. The Jalgaon, Maharashtra-based micro- irrigation company rating now stands at 'B-' as against the 'B+' earlier and the new rating has also been put the ratings on 'rating watch negative' (RWN).
DLF: Singapore’s sovereign wealth fund GIC is strengthening its alliance with India’s largest listed realty developer DLF as it seeks to participate in helping build the country’s biggest retail mall of more than 2.5 million sq ft.
SBI: Six private equity funds including PremjiInvest, Carlyle, ChrysCapital and GIC of Singapore, are among those in the shortlist for picking up a 26 per cent stake in SBI General Insurance that will cost the acquirer about Rs 3,000 crore
IndusInd Bank: The Hindujas will pump another Rs 2,700 crore into IndusInd Bank through a warrant issue to ramp up the promoter holding after the merger of Bharat Financial.
Sun Pharma: The company said it will be submitting its response on the four USFDA observations it received for Halol plant within 15 business days. Sun Pharma is committed to addressing these observations promptly, the company said.
Aditya Birla Capital: The company is seeing its first top-level exit after more than a decade. Pankaj Razdan, deputy chief executive officer at the financial services firm and also the head of Aditya Birla Sun Life Insurance, has resigned.
Tata Power: The company is exploring the establishment of an infrastructure investment trust (InvIT) for its near threegigawatt (GW) renewable energy portfolio to deleverage its balance sheet by a fourth and raise growth equity from investors, said people with knowledge of the matter.
Bandhan Bank: The NCLT has directed Bandhan Bank to convene a meeting of the equity shareholders of the bank and seek approval for the scheme of amalgamation of Gruh Finance on July 30.
Infosys: The IT major has tasked its leadership team with integrating technologies from Panaya and Skava with its offerings in retail, consumer products and manufacturing, after failing to find buyers for the two units.
S Kumars: The bankruptcy court has approved a proposal to liquidate S Kumars Nationwide (SKNL), after its lenders failed to receive any viable revival plan for the textile company. This is the second Nitin Kasliwal-promoted firm to go into liquidation.
• CLSA has maintained a sell rating on TVS Motor Company with a target price of ₹360 after the company released its annual report for FY19. CLSA remains cautious on Indian two-wheelers given the weak demand environment, the sizeable regulatory cost push, and elevated competition. TVS delivered 27% growth in operating profit before tax (EBITDA) in FY19; however, operating cash flow fell 12% YoY as working capital deteriorated, said the brokerage. Its net debt also rose 17% YoY, said CLSA.
• Motilal Oswal maintained a buy rating on Brigade Enterprises with a target price of ₹316. In FY19, leasing operations contributed 11% to revenues, which should increase to 26% by FY21, said Motilal Oswal. It said that Brigade Enterprises’ commercial and residential growth prospects appear promising.
• ICICI Securities maintained a buy rating on Wonderla Holidays with a target price of ₹445 after an interaction with the management. After a weak FY19 for Kochi park (footfall down 14% year-onyear ) due to floods and Nipah virus, Wonderla has arrested footfall decline and expects a sharp turnaround in FY20, said ICICI Securities.
• Kotak Securities maintained a buy rating on Amber Enterprises with a target price of ₹976. With sustained demand trends and modest capex, the brokerage sees asset turnover rising in the coming years leading to enhanced returns on equity and returns on capital employed, said Kotak Securities.
- AVT Natural Products Limited: The Midland Rubber & Produce Co Ltd has bought 30,000 shares through Market Purchase from Jun 17, 2019 to Jun 18, 2019.
- Ganges Securities Limited: Yashovardhan Investment & Trading Company Limited has bought 15,228 shares through Market Purchase from Jun 18, 2019 to Jun 19, 2019.
- JBF Industries Limited: Chinar Arya Mittal has bought 1,14,070 shares through Market Purchase from Jun 14, 2019 to Jun 17, 2019.
- LT Foods Limited: Raghuvesh Holdings Private Limited has bought 2,00,500 shares through Market Purchase on Jun 20, 2019.
- MEP Infrastructure Developers Limited: Anuya J.Mhaiskar has bought 2,85,135 shares through Market Purchase on Jun 19, 2019.
- Mukand Limited: Bajaj Sevashram Pvt. Ltd. has bought 1,54,305 shares through Market Purchase on Jun 19, 2019.
- Onward Technologies Limited: Onward Network Technologies Pvt Ltd has bought 20,000 shares through Market Purchase on Jun 20, 2019.
- Panama Petrochem Limited: Ittefaq Ice And Cold Storage Co. Pvt Ltd has bought 51,401 shares through Market Purchase from Jun 19, 2019 to Jun 20, 2019.
- Ruchi Infrastructure Limited: Pradeep C Limdi (Trustee Of Indivar Foundation) has bought 80,00,000 shares through Market Purchase on Jun 17, 2019.
- Steel Strips Wheels Limited: Sunena Garg has bought 29,398 shares through Market Purchase from Jun 18, 2019 to Jun 19, 2019.
- Vascon Engineers Limited: Lalitha Vasudevan has bought 50,000 shares through Market Purchase on Jun 19, 2019.
- Vascon Engineers Limited: Siddharth Vasudevan Moorthy has bought 3,19,200 shares through Market Purchase on Jun 20, 2019.
- Firstsource Solutions Limited: Mr. Rajesh Subramaniam has sold 1,71,541 shares through Market Sale on Jun 18, 2019.
- HDFC Life Insurance Company Limited: Rajendra Ghag has sold 53,000 shares through Market Sale on Jun 10, 2019.
- ICICI Bank Limited: Madhivanan B has sold 30,000 shares through Market Sale on Jun 18, 2019.
- Indiabulls Real Estate Limited: Krishna Kumar Bhatnagar has sold 30,500 shares through Market Sale from Jun 13, 2019 to Jun 14, 2019.
- Music Broadcast Limited: Rajendra Kumar Agarwal has sold 1,00,000 shares through Off Market on Jun 19, 2019.
- NEL Holdings Limited: Bolgati Enterprises Private Limited has sold 10,70,346 shares through Market Sale from Jun 19, 2019 to Jun 20, 2019.
- PC Jeweller Limited: Sachin Gupta has sold 12,00,000 shares through Market Sale on Jun 14, 2019.
- Urja Global Limited: Nandanvan Commercial Pvt. Ltd. has sold 15,32,746 shares through Market Sale on Jun 20, 2019.
- Yes Bank Limited: Ajit Chandgude has sold 40,000 shares through Market Sale on Jun 19, 2019.
- Yes Bank Limited: Rajat Monga has sold 5,00,000 shares through Market Sale on Jun 14, 2019.
Bulk and Block Deals :
|Blg Tickers||Date||Company Name||Acquirer/Seller||Buy /Sell||Qty Traded||Price|
|AREAL||21-Jun-19||AJMERA||Ariil Trust .||Buy||600,206||159.75|
|AREAL||21-Jun-19||AJMERA||Nimish Shashikant Ajmera||Sell||600,206||159.75|
|AHSL||21-Jun-19||Arambhan Hospitality Services Limited||Decent Financial Services Pvt Ltd||Buy||425,000||11.25|
|AHSL||21-Jun-19||Arambhan Hospitality Services Limited||Arch Finance Limited||Buy||430,000||11.25|
|AHSL||21-Jun-19||Arambhan Hospitality Services Limited||Garnet International Limited||Sell||875,000||11.25|
|ATISHAY||21-Jun-19||Atishay Limited||Santosh Bhansali Huf||Buy||173,500||59.40|
|ATISHAY||21-Jun-19||Atishay Limited||Indu Jain||Buy||153,441||59.40|
|ATISHAY||21-Jun-19||Atishay Limited||Prateek Jain||Buy||120,000||59.40|
|ATISHAY||21-Jun-19||Atishay Limited||Anita Chainrai Advani .||Sell||257,000||59.40|
|ATISHAY||21-Jun-19||Atishay Limited||Garnet International Limited||Sell||166,000||59.40|
|BCPC||21-Jun-19||B.C. Power Controls Limited||Niraj Rajnikant Shah||Buy||297,500||40.03|
|BCPC||21-Jun-19||B.C. Power Controls Limited||Kishorkumar Sobhagchand Morbia||Buy||654,500||40.62|
|BCPC||21-Jun-19||B.C. Power Controls Limited||Shah Babulal Vadilal Huf||Sell||300,000||40.00|
|DRCL||21-Jun-19||Darjeeling Ropeway Company Limited||Rahul Kathuria||Buy||52,776||96.20|
|DRCL||21-Jun-19||Darjeeling Ropeway Company Limited||Bharati Arvind Shah||Sell||80,000||96.64|
|JETIN||21-Jun-19||Jet Airways (India) Ltd||Crossland Trading Company||Sell||45,482||66.42|
|PADI||21-Jun-19||PADMANABH INDUSTRIES LIMITED||Priyanka H Dharnidharka||Buy||32,000||94.67|
|PADI||21-Jun-19||PADMANABH INDUSTRIES LIMITED||Himanshu Shah||Sell||40,000||90.01|
|PADI||21-Jun-19||PADMANABH INDUSTRIES LIMITED||Bharati Arvind Shah||Sell||31,005||94.70|
|SMGOLD||21-Jun-19||S. M. Gold Limited||Nnm Securities Pvt Ltd||Sell||128,000||23.50|
|SOBHA||21-Jun-19||Sobha Limited||Tntbc As The Trustee Of Nomura India Stock Mother Fund||Buy||1,273,940||504.95|
|SOBHA||21-Jun-19||Sobha Limited||Franklin Templeton Mutual Fund||Buy||1,000,000||505.00|
|SOBHA||21-Jun-19||Sobha Limited||Employees Provident Fund||Buy||727,966||504.95|
|SOBHA||21-Jun-19||Sobha Limited||Sobha Menon||Sell||4,000,000||505.57|
|UDECOR||21-Jun-19||UNIPLY DECOR LIMITED||Super Band Private Limited||Sell||2,307,565||21.79