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Ashok Leyland, India's second largest commercial vehicle maker, will be in focus after the board decided to withdraw the draft red herring prospectus (DRHP) from Securities Exchange Board of India (Sebi) on June 16, 2017. Ashok Leyland had earlier informed about the filing of DRHP with Sebi by HLFL for the proposed initial public offering (IPO) of equity shares.
Axis Bank, a private lender, will be in focus on plans to raise capital of Rs 350 billion in about a year's time in line with its growth projection in domestic as well as overseas operations.
Bhushan Steel and Electrosteel Steels:
Bhushan Steel and Electrosteel Steels, leading steel makers, will be in focus as banks led by State Bank of India will decide the fate of three large defaulters.
Federal Bank, a private sector bank, will be in focus after launching an institutional sale of shares, aiming to raise approx Rs 20 billion or $310 million in capital. There is an option to upsize the issue by Rs 5 billion or $77 million, the Economics Times reported.
Infrastructure Development Finance Company (IDFC), a private sector lender, will be in focus as RBI withdraw FII/FPI limit after the FII/FPI investment slipped below prescribed limit.
Kirloskar Oil Engines:
Kirloskar Oil Engines Ltd, a part of Kirloskar group, will be in focus on acquiring 100 % equity shares of La Gajjar Machineries.
Larsen & Toubro:
Larsen & Toubro Ltd (L&T), India's biggest engineering & construction manufecturer, will be in focus as the government sold its 2.5% stake in L&T to state-run entities, including SBI and LIC, for about Rs 42 billion.
Nila Infrastructure, a local real-estate service provider, will be in focus as the company has received a work order from Ahmedabad Municipal Corporation (AMC) for slum rehabilitation and re-development for construction of 360 units on PPP basis.
NHPC Ltd, the state-owned largest thermal power generator, will be in focus after it has signed Memorandum of Understanding (MoU) with Ministry of Power (MoP), Government of India for the year 2017-18.
Pidilite, the maker of Fevicol, will be in focus as the Credit Suisse maintained 'Outperform' on Pidilite with a target price of Rs 920. The global financial services firm prefers Pidilite due to its impregnable business moat.
Premier Ltd, an automobile manufecturer,will be in focus as the company has received Rs 835.1 million (net) as a part payment towards compensation from the DFCC (a subsidiary of the Indian Railways) for compulsorily acquiring a part of the company's land. Of this, Rs 625 million has been utilised to repay term debt, all public fixed deposits and other high cost debt.
Raymond Ltd., a fabric maker, will be in focus on talk of inking export ties with Africa, making globally competitive Product Development Technology Station.
Reliance Communications, a Anil Ambani-led Reliance groupwill be in focus as it has started the process to monetise its real estate assets in Delhi and Mumbai as part of its efforts to pare debt. The company is burdened with Rs 450 billion debt. It has got a seven-month reprieve from banks to service the debt.
Reliance Capital, the Anil Ambani lead financial service provider, will be in focus on getting nod from National Company Law Tribunal (NCLT) for shareholders' meeting on demerger of Reliance Home Finance, a subsidiary of Reliance Capital Ltd, will result in independent listing of the home finance unit on exchanges.
Tata Motors Ltd, the maker of Nano & Jaguar Land Rover, will be in focus as board approves to raise up to Rs 5 billion via issue of securities on a private placement basis.