Nifty futures were trading 28.70 points or 0.27 per cent lower at 10,731.80 on Singaporean Exchange, indicating a tepid opening for BSE Sensex and Nifty 50 on Tuesday. Investors will track global cues and stock-specific development, rise in coronavirus cases, newsflow related to COVID-19 vaccine, foreign fund flow, rupee movement and oil prices, among others. “Despite the near term momentum being positive, traders should be stock specific and look at booking profits at regular intervals. Investors would also keep a watch on the Q1FY21 earnings season which kick starts this week with TCS,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Stocks in focus today:
Tata Consultancy Services: JP Morgan Funds on Monday bought TCS shares worth nearly Rs 247 crore through an open market transaction. The block deal data on BSE showed that JP Morgan Funds bought over 11.23 lakh shares of TCS and the total deal value stood at Rs 246.98 crore.
Punjab National Bank: The state-owned bank PNB said its board will consider a proposal to raise capital through a mix of both equity and debt on July 9. The board will also clear opening balance sheet of the amalgamated bank as on April 1, which is post amalgamation of Oriental Bank of Commerce (OBC) and United Bank of India
HUL, Emami: In an interim relief to Hindustan Unilever (HUL), which recently dropped the word ‘Fair’ from its skin cream for men and renamed it ‘Glow & Handsome’, the Bombay High Court on Monday said FMCG firm Emami, that has its own ‘Glow and Handsome’ cream, shall give HUL seven days prior notice before initiating legal proceedings on trademarks.
PVR: The company in an exchange filing informed that it’s board has approved the issue of equity shares of face value of Rs 10 each by way of a rights issue to the eligible shareholders for an amount aggregating up to Rs 30,000 lakhs. The price of the rights issue is set at Rs 784 apiece. The issue will open on July 17 and close on July 31.
Shree Renuka Sugars: GKB Ophthalmics, Bazel International, Shree Renuka Sugars, Best Agrolife
Shriram Transport Finance: STFC said the company’s securities issuance committee has given its go-ahead to the rights issue of equity shares to the promoters and promoter group to raise up to Rs 1,500 crore. The firm’s securities issuance committee in its meeting on Monday approved the rights issue of equity shares of a face value of Rs 10 each for an amount not exceeding Rs 1,500 crore, according to an exchange filing.
Manappuram Finance: Manappuram Finance on Monday said it will raise up to Rs 300 crore by issuing bonds on a private placement basis. Financial resources and management committee of the company’s board of directors approved the issuance of the private placement of rated, secured and redeemable non-convertible debentures up to Rs 300 crore, it said in a regulatory filing.