Indian benchmark indices ended lower for the sixth consecutive session on June 17 with the Nifty settling below 15,300. At close, the Sensex was down 135.37 points or 0.26% at 51,360.42, and the Nifty was down 67.10 points or 0.44% at 15,293.50. About 1,082 shares have advanced, and 2162 scrips declined, while 95 shares remained unchanged.
YES Bank | CMP: Rs 12:45 | The stock ended in the red on June 17. Washington-based private equity firm Carlyle Group is looking to acquire a 10 percent stake in YES Bank via the convertible debt route, CNBC-TV18 reported citing sources. The PE major is likely to consider the convertible debt route as the State Bank of India (SBI) is supposed to hold a 26 percent stake in YES bank till March 2023. The Carlyle Group is planning to invest via the foreign direct investment (FDI) route instead of FPI, according to the channel. Notably, FEMA (Foreign Exchange Management Act) rules require a minimum of 10 percent stake buy to qualify as FDI.
Ahluwalia Contracts | CMP: Rs 394 | The stock ended in the red on June 17. Ahluwalia Contracts has secured new orders including the construction of the National Police Academy, Maharajgunj, Kathmandu - EPC Basis, Janakpur, Nepal (Under Joint Venture (JV)) aggregating Rs 442 crore (approx.) in Nepal. The total work order for this project is Rs 630.95 crore, (NRS 1001.50 CR) at NRS 0.63 Paisa and the company's share is 70 percent amounting to Rs 442 crore (approx.).
HDFC Life Insurance | CMP: Rs 551.80 | The stock fell over 3 percent on June 17. Capital Raising Committee of HDFC Life Insurance Company has considered and approved the proposal for raising funds through the issuance of up to 3,500 unsecured, rated, listed, subordinated, redeemable, fully paid-up, non-convertible debentures, each having a face value of Rs 10,00,000, for an aggregate nominal value of up to Rs 350,00,00,000 for cash, at par, in dematerialised form, on private placement basis.
Ratnamani Metals | CMP: Rs 2,378 | The scrip was down 4 percent even as the company has received new orders aggregating Rs 203 crore including export orders aggregating Rs 187 crore, to be executed within the Financial Year 2022-23.
Rajesh Exports | CMP: Rs 559 | The share price jumped over 5 percent after Elest Pvt Ltd entered into an MOU with the Government of Telangana for setting up an AMOLED Display FAB for the manufacture of AMOLED Display Units with an investment of Rs 24,000 crore.
Vakrangee | CMP: Rs 26.05 | The scrip was down over 3 percent on June 17. Vakrangee has entered into a seller agreement with Decathlon Sports India Pvt Ltd to offer a complete range of sports equipment and products to the unserved and underserved population of India.
Wipro | CMP: Rs 406.40 | The stock price fell over 3 percent on June 17 after the company signed an alliance agreement with Eros Investments to evolve and scale the artificial intelligence (AI) and machine learning (ML) based content localisation solution.
CG Power | CMP: Rs 168 | The stock was up over a percent after India Ratings and Research (Ind-Ra) upgraded the company's long-term issuer rating to 'IND M' from 'IND M-'. The outlook is stable.
Dr Reddy's Laboratories | CMP: Rs 4,156.35 | The share was down over 3 percent on June 17after Life Insurance Corporation of India (LIC) acquired an additional 2 percent equity stake in the company via open market transactions. With this, LIC's shareholding in the company stands increased to 5.646 percent, up from 3.644 percent earlier.
RITES | CMP: Rs 228.60 | The scrip slipped close to 2 percent on June 17. RITES has secured a business for the operation and maintenance of 20 numbers of shunting locomotives for the period of 10 years from Container Corporation of India for Rs 364.56 crore.
