BPCL rises 1.7%; FIIs can invest up to 49%

The Reserve Bank has allowed foreign investors to raise their holdings in Bharat Petroleum Corporation Ltd to up to 49 per cent.

BPCL rose 1.6% to Rs.995.45. The Reserve Bank has allowed foreign investors to raise their holdings in Bharat Petroleum Corporation Ltd to up to 49 per cent. 

The scrip opened at Rs. 990.5 and has touched a high and low of Rs. 999 and Rs. 988.6 respectively. So far 426275(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 70865.46 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1032 on 03-Jun-2016 and a 52 week low of Rs. 732.2 on 23-Feb-2016. Last one week high and low of the scrip stood at Rs. 1032 and Rs. 969.65 respectively.

The promoters holding in the company stood at 54.93 % while Institutions and Non-Institutions held 30.51 % and 14.56 % respectively.

Granules Pharma enters into agreement for product in-licensing

Granules Pharmaceuticals, Inc has entered into an agreement for product in-licensing.

Granules Pharmaceuticals, Inc., wholly owned subsidiary of Granules India Ltd has announced that it has entered into an agreement for product in-licensing.

Granules India Ltd is currently trading at Rs. 143, up by Rs. 3.25 or 2.33% from its previous closing of Rs. 139.75 on the BSE.

The scrip opened at Rs. 140.1 and has touched a high and low of Rs. 143.9 and Rs. 138.7 respectively. So far 1068535(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3028.55 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 164.45 on 01-Dec-2015 and a 52 week low of Rs. 75.55 on 12-Jun-2015. Last one week high and low of the scrip stood at Rs. 142.45 and Rs. 134.5 respectively.

The promoters holding in the company stood at 51.15 % while Institutions and Non-Institutions held 7.59 % and 41.26 % respectively.

The stock is currently trading above its 200 DMA.

Dr Reddy's Laboratories down 2%

US Consumer Product Safety Commission, has pleaded to the US Department of Justice, seeking civil penalty against the company.

Dr Reddy's Laboratories stock was down by 2% at Rs.3076. Report says that US Consumer Product Safety Commission, has pleaded to the US Department of Justice , seeking civil penalty against the company

The scrip opened at Rs. 3099 and has touched a high and low of Rs. 3099 and Rs. 3062.3 respectively. So far 109295(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 53444.55 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 4382.95 on 20-Oct-2015 and a 52 week low of Rs. 2750 on 21-Jan-2016. Last one week high and low of the scrip stood at Rs. 3197 and Rs. 3127 respectively.

The promoters holding in the company stood at 25.58 % while Institutions and Non-Institutions held 42.02 % and 32.4 % respectively.

The stock is currently trading above its 200 DMA.

MMTC zooms 13%

The scrip opened at Rs. 41.7 and has touched a high and low of Rs. 44.4 and Rs. 40.55 respectively.

MMTC Ltd stock was higher by 13% at Rs.43.

The scrip opened at Rs. 41.7 and has touched a high and low of Rs. 44.4 and Rs. 40.55 respectively. So far 2701664(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3880 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 57.9 on 26-Jun-2015 and a 52 week low of Rs. 29.95 on 24-Feb-2016. Last one week high and low of the scrip stood at Rs. 39.2 and Rs. 36 respectively.

The promoters holding in the company stood at 89.93 % while Institutions and Non-Institutions held 6.06 % and 4.01 % respectively.

The stock is currently trading above its 200 DMA.

Infosys falls 3.4%; warns of weaker spending in Q1

Infosys chief operating officer (COO) UB Pravin Rao warned that the company would face volatility over the next few quarters, due to weaker spending from sectors such as energy and insurance.

Infosys fell 3.4% to Rs.1197 after the opening bell on Thursday. Infosys chief operating officer (COO) UB Pravin Rao warned that the company would face volatility over the next few quarters, due to weaker spending from sectors such as energy and insurance, according to reports.

UB Pravin Rao further said that the company was still on track to meet full-year constant currency revenue guidance of 11.5-13.5 per cent.

Rao told investors that Infosys does not expect a recovery in spending from energy sector before 2017, says report.

The scrip opened at Rs. 1228.9 and has touched a high and low of Rs. 1228.9 and Rs. 1192.5 respectively. The current market cap of the company is Rs. 284430.6 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1278 on 03-Jun-2016 and a 52 week low of Rs. 932.5 on 10-Jul-2015. Last one week high and low of the scrip stood at Rs. 1278 and Rs. 1236 respectively.

The promoters holding in the company stood at 12.7 % while Institutions and Non-Institutions held 57.6 % and 29 % respectively.

The stock is currently trading below its 50 DMA.

Live Stock Market Updates - Sensex slips over 150 points

The BSE Mid-cap Index is trading up 0.32% at 11,513, whereas BSE Small-cap Index is trading up 0.37% at 11,423.

At 9:28 AM, the S&P BSE Sensex is trading at 26,951 down 70 points, while NSE Nifty is trading at 8,258 down 15 points.

The BSE Mid-cap Index is trading up 0.32% at 11,513, whereas BSE Small-cap Index is trading up 0.37% at 11,423.

RBI Governor Raghuram Rajan reportedly said the economy is on the right track though “true numbers” of GDP could be 1% up or down. “I would hope that with good monsoon, strong rural demand, with more animal spirit and public investment picking up pace… I think with all that coming together there will be need for private investment", Rajan was quoted as saying.

Japan's Nikkei is down while Chinese and HongKong markets are shut.  US markets closed higher. S&P 500 gained 0.33% to 2,119 as gains in crude oil spurred bets on material and industrial shares. The Dow ended above 18,000 for the first time since April, as declines in the dollar lifted some commodity-related shares. Nasdaq Composite added 12.89 points, or 0.26 per cent, to 4,974.64.

Auto stocks will be in focus as SIAM announces May numbers today.

Road Transport & Highways Minister Gadkari will launch Annual Report of Transport Research Wing on Road Accidents in India in New Delhi.

Syndicate Bank plans to raise Rs.1,700 crore

The bank will seeks shareholders nod for this at its Annual General Meeting (AGM) to be held on June 26, says report.

Syndicate Bank is planning to raise up to Rs. 1,700 crore from public issue, including Qualified Institutional Placement or QIP.

The bank will seeks shareholders nod for this at its Annual General Meeting (AGM) to be held on June 26, says report.

Report says that the fund would be raised to an extent that government holding not falling below 51 per cent of the total capital.

Syndicate Bank ended at Rs. 66.7, up by Rs. 1.15 or 1.75% from its previous closing of Rs. 65.55 on the BSE.

The scrip opened at Rs. 65.6 and touched a high and low of Rs. 67.35 and Rs. 65 respectively. A total of 3308536(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5325.99 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 109.9 on 11-Jun-2015 and a 52 week low of Rs. 49.4 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 67.35 and Rs. 63.25 respectively.

The promoters holding in the company stood at 65.17 % while Institutions and Non-Institutions held 21.27 % and 13.56 % respectively.

The stock traded below its 200 DMA.

Central Bank plans to raise Rs.3000 crore

The bank will seek shareholders nod for this at Annual General Meeting (AGM) to be held on June 30.

Central Bank of India is planning to raise up to Rs 3,000 crore from the public, including the rights issue, according to reports.

The bank will seek shareholders nod for this at Annual General Meeting (AGM) to be held on June 30.

Report says that the fund would be raised to an extent that government holding not fall below 51 per cent of the total capital.

Central Bank of India ended at Rs. 86.2, up by Rs. 2.05 or 2.44% from its previous closing of Rs. 84.15 on the BSE.

The scrip opened at Rs. 84.25 and touched a high and low of Rs. 88 and Rs. 84.25 respectively. A total of 893240(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 15181.71 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 113.7 on 14-Jul-2015 and a 52 week low of Rs. 48.2 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 88 and Rs. 83 respectively.

The promoters holding in the company stood at 79.94 % while Institutions and Non-Institutions held 15.26 % and 4.8 % respectively.

The stock traded above its 50 DMA.

Motherson Sumi Systems arm to raise $300 million via bonds at 4.875%

The 2016 Notes have been rated BB+ by S&P and are jointly and severally guaranteed on a senior secured basis by certain of its subsidiaries.

Motherson Sumi Systems Ltd has informed BSE that its subsidiary, Samvardhana Motherson Automotive Systems Group B.V. (the Company) has announced the pricing of its U.S $ 300 million 5.5-year non-call 3 year senior secured Notes offering at 4.875% per annum, due December 2021 (the 2016 Notes). This is the third successful issue of Notes by the company and marks its successful debut in the U.S. dollar bond markets. The 2016 Notes have been rated BB+ by S&P and are jointly and severally guaranteed on a senior secured basis by certain of its subsidiaries. An application is being filed to have the 2016 Notes listed on the Irish Stock Exchange.

The proceeds from the issuance and sale of the 2016 Notes will be used to repay existing third party indebtedness and for general corporate purposes, including to make certain capital expenditures.

The offering is scheduled to close on June 16, 2016. ANZ, DBS Bank Ltd., Deutsche Bank and HSBC acted as Joint Global Coordinators and ANZ, DBS Bank Ltd., Deutsche Bank, HSBC, Barclays and Standard Chartered Bank acted as Joint Bookrunners and Joint Lead Managers to the offering."

Top 18 stocks in focus: Tata Motors, Bharti Infratel, BPCL

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Tata Motors: Tata Motors reported a 10.3 % increase in global sales at 87,414 units, including that of Jaguar Land Rover (JLR) vehicles, in May.

Infosys: Infosys chief operating officer (COO) UB Pravin Rao warned that the company would face volatility over the next few quarters, due to weaker spending from sectors such as energy and insurance, according to reports.

BPCL: The Reserve Bank has allowed foreign investors to raise their holdings in Bharat Petroleum Corporation Ltd to up to 49 per cent.

Bharti Infratel Ltd: The telecom company is in talks to acquire Tower Vision India, as per media reports.

HCL: HCL enhances its smart Vehicle Offerings With two Strategic Partnerships.

IOC: IOC and MRPL have made a second tranche payment using Germany-based EIH bank to help clear past oil dues to Iran, according to reports.

YES Bank: Yes Bank has announced that it will commit Rs. 250 Crores towards two key focus areas of livelihood and water security, and environment sustainability by 2020 through its focused and intensified CSR and Sustainability actions.

Adani Enterprises: Adani Enterprises is in the process of setting up a copper smelter project with a capacity of one million tonnes per annum at an investment of Rs 10,000 crore at Adani Port Special Economic Zone (APSEZ) in Gujarat, says report.

Wipro:  Wipro announced a partnership with Mountain View based Authentise Inc. This strategic partnership between Wipro and Authentise will enable adoption of additive manufacturing among the Global 2,000 companies.

Lupin:  In the wake of violation of current good manufacturing norms, Lupin, through its US arm Lupin Pharmaceuticals Inc, is recalling over 54,000 vials of anti-bacterial injection Ceftriaxone, which were manufactured at the company’s Mandideep facility in Madhya Pradesh.

Syndicate Bank: The bank said it proposes to raise up to Rs.1,700 crore from public issue, including Qualified Institutional Placement or QIP.

NTPC: NTPC Ltd has signed an agreement with South Western Railway for doubling of the Hotgi-Kudgi section under the customer funding concession scheme, as per media report.

Central Bank: The bank said it proposes to raise up to Rs.3,000 crore from the public, including the rights issue.

Rajesh Exports:  The company has announced that it has bagged Rs. 653 crores worth export order.

Piramal Ent:  The company said that a meeting of the Administrative Committee of Board of Directors will be held on June 10, 2016 to consider and approve the issue on private placement basis of Secured Non-Convertible Debentures amounting up to Rs. 300 crore.

Cipla: Cipla has approved the appointment of Kedar Upadhye as Global Chief Financial Officer of the Company who will assume office on or before August 16, 2016.

Hinduja Global Solutions:  Hinduja Global Solutions launched DigiCX, a suite of CX (Customer Experience) services focused on transforming traditional customer experiences.

Sun Pharma:  Sun Pharmaceutical Industries  announced its entry into the dermatology segment with the launch of its sunscreen product Suncros, as it seeks to expand its over-the-counter business.

JSW Steel: JSW Steel's production of flat rolled products rose 7% to 9.30 lakh tonnes in May 2016 over May 2015. Production of long rolled products rose 22% to 2.98 lakh tonnes in May 2016 over May 2015.

Siemens: The company bagged order worth approx Rs.113 crore from PGCB to design, procure, supply, install, test and commission 230/132kV Gas Insulated Switchgear Substation along with 225/300 MVA, 132/33 KV and 50/75 MVA Transformers at Keraniganj within Dhaka.