Stocks in the News highlights (12-June-2021)
1) Wipro: Wipro has announced its first overseas bond sale of $750 million through its wholly-owned subsidiary Wipro IT Services LLC.
2) Tech Mahindra: Tech Mahindra may acquire companies in Europe to upgrade capabilities across segments such as 5G, cloud computing, Salesforce software, and SAP. The company is planning to add around 250 people in the Nordic region.
3) JSW Steel: The crude steel production in May was up 10% at 13.67 lakh tonnes.
4) HDFC: HDFC sold certain pledged shares of Reliance Capital worth Rs 16 crores in the secondary market sale.
5) Tata Motors: The board will meet on June 14 to consider raising Rs 500 crore via non-convertible debentures.
6) Bharti Airtel: Bharti Airtel said it has deployed an additional 17.4MHz spectrum across 900, 1800, and 2300 MHZ bands in Himachal Pradesh to enhance the indoor network experience for its customers.
6) Reliance: Private equity investments in Indian companies were up 38% to $62.2 billion last year. Inflows into Reliance Industries‘ telecom and retail ventures contributed nearly 40% of the total value of the deals, a report said on Wednesday.
7) Coal India: Premiums and realizations for e-auctions have improved as demand has recovered. Global thermal coal prices have been on the rise, which is good for e-auction success.
Activities of FIIs (Foreign Institute Investors) and DIIs (Domestic Institute Investors)
Cash Segment in Equities
Mutual Funds Activities
8) Canara Bank is the fourth-largest public sector bank in the country after its merger with Syndicate Bank in April 2020.
Canara Bank has said that IFSC codes of the former Syndicate Bank branches will change from 1st July. Customers have to use the new CANARA IFSC for receiving funds through NEFT/RTGS/IMPS. The former e-Syndicate Bank customers will have to get new cheque books with changed IFSC & MICR codes.
9) Power Grid: Board of the company will consider a proposal to issue bonus shares to its shareholders in a meeting scheduled on June 17.
10) Wipro: Wipro IT Services has approved a proposal for issuing US dollar-denominated notes of up to $750 million. The net proceeds of the notes are intended to be utilized for refinancing existing debt and general corporate purposes.
11) Reliance Industries: The firm said it has shut a secondary unit at its only-for-exports oil refinery at Jamnagar in Gujarat, which may delay the shipment of some product cargoes.
12) TCS: TCS will benefit from customers embarking on a multi-year technology up-gradation cycle, said Rajesh Gopinathan, managing director and chief executive, TCS at the AGM. TCS saw a 17.1% growth in total contracts won in the year, more than $31.6 billion.
13) ONGC: The government has decided to auction unmonetized oil and gas fields of state-run ONGC to raise hydrocarbon production and improve energy security.
14) India's index of industrial production (IIP) was up 134.4% in April 2021 from the same month last year. IIP rose to 126.6 in April from 54.0 last year.
All economic activities such as factories and offices were shut down during April last year because of the nationwide lockdown. Lower industrial activity last year supported the rise in 2021. In April 2020, IIP contracted 55.5%.
(The Index of Industrial Production (IIP) is an index for India which details the growth of various sectors in an economy such as mineral mining, electricity, and manufacturing.
It is compiled and published monthly by the National Statistics Office (NSO).)
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