Strong global cues and Nifty futures on the Singapore Stock Exchange (SGX) signalled a positive start for domestic stocks on Monday. At 08:00 am, Nifty futures on SGX traded 44 points, or 0.41 per cent, higher at 10,723.
Here is a list of stocks that are likely to be in focus in today's trading session -
Idea Cellular: The board of Idea Cellular has called for an extraordinary general meeting (EGM) on June 26 to approve changing the name of ‘Idea Cellular Limited’ to ‘Vodafone Idea Limited’, as the merger of India's second and third ranked telcos nears completion. The EGM will also consider the board's plan to raise funds via nonconvertible securities of not more than Rs 15,000 crore, which may be used to pare debt, with the merged entity looking to strengthen its balance sheet ..
ICICI Bank: Capital markets regulator Sebi has said in a showcause notice that ICICI Bank’s chief executive Chanda Kochhar didn’t adhere to its code of conduct, which required the disclosure of any conflict of interest in the case involving Videocon Group and NuPower Renewables, a firm owned by her husband Deepak Kochhar, ET reported. The showcause notice also said that the bank indirectly violated the disclosure norms of the Securities and Exchange Board of India (Sebi) by not ..
Dr Reddy's: Dr Reddy'sLaboratories expects to launch over 15 products in the US market in 2018-19, according to a top company official. The Hyderabad-based drug major also remains optimistic for a double digit growth in the domestic market in the ongoing financial year.
Cadila Healthcare: Zydus Cadila has received the final approval from the USFDA to market Doxycycline Hyclate capsules USP,
antibiotic used for treating bacterial infections, Cadila Healthcare said on Saturday. "Zydus Cadila has received the final
approval from the USFDA to market Doxycycline Hyclate Capsules USP, 50 mg and 100 mg," the company said in a regulatory
filing.
Auto stocks: Vehicle makers across segments posted strong sales for the second straight month in May, driven by a growing economy, launches and as customers advanced buying expecting price hikes. The Indian passenger vehicle market is estimated to have broken the 3-lakh-units-a-month barrier after eight months, with dispatches close to the peak volumes seen in last September which was a festive month.
Coal India: Coal India will try out a new customer-friendly billing system for consumers with state-owned power major NTPCNSE -0.33 % on a pilot basis, in line with a global quality practice framework, PTI reported citing a top official. The new billing mechanism will compute prices on every unit of Gross Calorific Value (GCV( of coal, doing away with the grade policy at present.
GMR Infra: The Maldivian government has slapped a notice seeking $20.5 million towards income tax and fines on GMR Male International Airport, a GMR group company, that won $271 million arbitration against the premature termination of Male International Airport contract. A GMR spokesperson refuted the tax claim by the island nation and said they are awaiting response from Maldives Airports Company Limited on the issue.
Alembic Pharmaceuticals: Alembic Pharmaceuticals has earmarked a capital expenditure of Rs 720 crore for this fiscal year to complete existing projects and on maintenance, a senior company official said. The company had spent about Rs 600 crore of capex in the last fiscal year (FY18).
PNB: HSBC has retained reduce rating on PNB and reduced target price to Rs 71 from Rs 92. The firm said it remains cautious despite significant underperformance due to a dim earnings outlook, significant capital erosion, and likely dilution given weak CET1 and low valuations. The firm expects the bank to report a loss for FY19 on the back of higher provisioning and slower loan growth. Shares of Punjab National Bank ended down 0.8 per cent at Rs 82.90 on Friday.
Tata Motors: Global brokerge Nomura has maintained ‘Buy’ rating on the stock with target price of Rs 495. The brokerage expects 9 per cent growth in overall JLR volumes in 2018-19.
