15 June 2021 Stock Market News

 Stocks in the News highlights (15-June-2021)

1) Tata Motors: The board has approved a proposal to raise up to Rs 500 crores by issuing securities.

2) Wipro: S&P Global Ratings on Monday assigned 'A-' long-term issue rating to the proposed US dollar-denominated senior unsecured notes issued by Wipro IT Services LLC.

3) Adani Ports: Economic Times reported the National Securities Depository Ltd (NSDL) had frozen the accounts of three foreign funds, which have a total investment of Rs.43500 crores in Adani group companies. Adani Group has sent a letter to SEBI claiming the news to be false. The share price of Adani Group companies went down as much as 15%.

The share price of Adani Enterprises fell as much as 25% in today's trade, Adani Ports fell 17%, Adani Total Gas was down 5%, Adani Green Energy 5%, Adani Power 5%, Adani Transmission 5%.

Over the past one year, shares of Adani Enterprises have gained 741%, Adani Ports 100%, Adani Green 245%, Adani Transmission 650%, Adani Power 271%, and Adani Total Gas have jumped 1066%.

4) Coal India: Several analysts expected the company’s net profit to fall in the quarterly results. The results were announced after markets closed.

5) Consumer price index (CPI), India's retail inflation, rose to 6.3% in May 2021. This is the highest in almost 6 months.

CPI has crossed RBI's targeted band of 2-6%.

Inflation rate in April was at 4.23%. Food inflation shot up to 5% from 2% in April.

6) Wholesale price index (WPI), a measure for wholesale inflation, rose to a record high of 12.94% in May 2021 from the same month last year.

WPI in April was at 10.49%. This is mainly due to rising crude oil prices.

[What is CPI and WPI?

WPI measures the inflation in the sale of goods traded by wholesale businesses whereas CPI measures inflation in goods sold directly to a consumer.]

7) Exchanges suspend trading in DHFL shares

BSE and NSE suspended trading in DHFL's shares from June 14.

This is after NCLT approved the resolution plan of Piramal Group, which will now take over the company.

NSE said in a statement that "no value was attributable to the equity shares as per the liquidation value of the company". This means that the existing shares of the company are worth zero now.

DHFL had gone bankrupt with more than Rs 90,000 crores in debt to various lenders. After a couple of bidding rounds, the Piramal Group emerged as a successful bidder.

8) Novavax shows a high efficacy rate

Novavax, a vaccine candidate that just finished its phase 3 trials in the USA and Mexico has reported that its vaccine has shown an efficacy rate of above 90%.

The company also said that this efficacy rate has been shown against all known variants of the virus and thus is very confidence-inspiring.

The vaccine can be stored between temperatures of 2 and 8 degrees celsius - a very convenient storage temperature range.

Some other vaccines require super cold temperatures for storage making their distribution in developed countries difficult.

In India, Serum Institute of India (SII) has an agreement with Novavax to manufacture this vaccine.

9) Tata Steel: Tata Steel acquired Bhushan Steel Ltd. 3 years ago from Bankruptcy court and has now reduced its debt by 60%.

10) HCL Tech: HCL Technologies (HCL) on Monday announced the appointment of Siki Giunta to boost HCL Cloud Smart industry cloud offerings into client markets.

11) TCS: Tata Consultancy Services has been ranked number one in customer satisfaction in the UK in an independent survey of leading enterprises by Whitelane Research, for the sixth time.

12) Sun Pharma: Sun Pharma said that it has no immediate plans to enter into vaccine production as getting into the vertical would require a manufacturing setup.

13) NTPC: NTPC has released a global Expression of Interest (EoI) to set up two pilot projects, a standalone fuel-cell-based backup power system and a standalone fuel-cell-based microgrid system with hydrogen production using electrolyzer at the NTPC premises.

14) Axis Bank: Axis Bank is likely to raise its stake in Max Life Insurance to about 20% over the next 12-18 months.

15) ITC: ITC said it was planning to increase the number of properties under the brand Welcomhotel to 25 in a year's time from 19 now.

 

16) Shyam Metalics is one of India's leading integrated metal producing company. The company is primarily engaged in the production of long steel products and ferroalloys and the fourth-largest player in the sponge iron industry.

The company has now come up with an IPO, wherein you can bid to become one of the first shareholders of Shyam Metalics.

Last day to apply: 16 June

Bidding period: 14 - 16 June (Open for bidding)

Price per share: Rs.303 - Rs.306

Lot size: 45 (i.e. you’ll have to apply for multiples of 45 shares)

To be listed on: 24 June 2021

17) Automotive ancillary company Sona Comstar launched its ₹5,550 crore IPO on Monday. The company has a global customer base and makes components for combustion as well as electric vehicles

Last date to apply: 16 June 2021

Price Band: 285 - 291 INR

Lot Size: 51 shares

18) Shares of Parag Milk Foods fell almost 9% intraday after the company reported a net loss of ₹9.6 crore in the March quarter. It had posted a net profit of ₹10.1 crore for the year-ago period. Meanwhile, total revenue declined 19% to ₹434 crore.

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