Indus Financial News

trade ban: GNFC, PNB, SAIL, and Indus Towers. Balrampur Chini Mills, Chambal Fertilisers, Granules, and Piramal Enterprises have successfully exited the ban list, while the remaining stocks continue to be restricted from F&O trading.

F&O ban list: The National Stock Exchange (NSE) has banned trading in four stocks on Wednesday, June26, 2024, in the futures and options (F&O) segment as they exceed 95% of the market-wide position limit (MWPL).However, these stocks will be available for trading in the cash market.The NSE updates the list of securities in the F&O ban for trade every day.F&O ban list todayGNFC, Indus Towers, PNB, and SAIL are the stocks on the NSE's F&O ban list for June26.The National Stock Exchange (NSE) said the derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been placed in the stock exchange's ban period.“All clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action," the NSE statement said.

F&O ban list: The National Stock Exchange (NSE) has banned trading ineight stocks on Tuesday, June25, 2024, in the futures and options (F&O) segment due to their exceeding 95% of the market-wide position limit (MWPL).However, these stocks will be available for trading in the cash market.The NSE updates the list of securities in the F&O ban for trade every day.F&O ban list todayBalrampur Chini Mills,Chambal Fertilisers and Chemicals,GNFC,Granules India, Indus Towers, Piramal Enterprises, PNB, and SAIL are the8stocks on the NSE's F&O ban list for June25.The National Stock Exchange (NSE) said the derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been placed in the stock exchange's ban period.“It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action," the NSE statement said.No new positions are allowed when the stock exchanges place F&O contracts in a particular stock during the F&O ban period.On June 24, equity benchmarks Sensex and Nifty closed higher on Monday as buying in power, auto and industrial stocks helped the indices rebound from early lows amid a bearish trend in global equity markets.The 30-share BSE Sensex ended 131.18 points, or 0.17 per cent, higher at 77,341.08.

Jammu. The delegation which arrived in India on Sunday evening in connection with the 1960 Indus Water Treaty is scheduled to visit Kishtwar to see the Dam sites. The Indus Waters Treaty was signed between then Prime Minister Jawaharlal Nehru and former Pakistan President Ayub Khan in 1960 with the World Bank as a signatory to the pact.

Balrampur Chini Mills, Chambal Fertilisers, GNFC, Hindustan Aeronautics, Granules, Hindustan Copper, Indus Towers, and Piramal Enterprises. While Birlasoft managed to come out of the ban list on Monday, Chambal Fertlisers and Granules are new entrants.

block deals worth Rs 40,543 crore on screen, which included both buying and selling. In the largecap segment, 15 companies witnessed significant block deals on the screen, which were worth Rs 6,566 crore led by Axis Bank with a lone block count totalling Rs 2,089 crore. The next in line were ICICI Lombard General Insurance (Rs 814 crore), ICICI Bank (Rs 809 crore), Mahindra & Mahindra (493 crore), Maruti Suzuki (Rs 426 crore), Bharti Airtel (Rs 320 crore) and Hindustan Aeronautics (HAL, Rs 300 crore).

Balrampur Chini Mills, Birlasoft, GNFC, Hindustan Aeronautics, Hindustan Copper, Indus Towers and Piramal Enterprises. On Friday, Chambal Fertilisers, SAIL, and India Cements emerged from the ban list, while Birlasoft and GNFC were added to it.

₹55,000 crore, have evoked disparate reactions from bankers. While lenders are salivating at Bharat Petroleum Corporation Ltd’s (BPCL’s) ₹32,000 crore loan proposal, they are circumspect on lending to Vodafone Idea, which is looking to raise ₹23,000 crore through loans to strengthen and expand its network. Combined, the two loans equate to about 2% of the outstanding loans to large industries.

₹4,250 crore, directly or indirectly," Indus Towers' chief financial officer Vikas Poddar told analysts at JP Morgan prior to the stake sale. The comments were shared by the brokerage to clients in a note.On Wednesday, UK-based Vodafone Group Plc sold 18% stake sale in India's largest telecom tower provider for ₹15,300 crore.

Shares of Samvardhana Motherson International Ltd.(up 1.1 per cent) and Bharat Forge Ltd.(up 0.4 per cent) ended the day as top gainers in the pack.

Nifty Index Top Gainers and Losers TodayThe top gainers in the Nifty index were HDFC Bank (up 3.11%), Axis Bank (up 2.92%), ICICI Bank (up 1.92%), Kotak Mahindra Bank (up 1.59%), and Indusind Bank (up 1.35%). On the other hand, the top losers in the Nifty index were Titan Company (down 3.53%), Larsen & Toubro (down 2.69%), Maruti Suzuki India (down 2.54%), Bharti Airtel (down 2.52%), and Hindalco Industries (down 2.41%).The bank nifty ended at 50440.9, with an intraday high of 51957.0 and a low of 50441.75.

Indus Towers for up to USD 2 billion. This is a significant increase from the approximately 10 per cent stake they initially intended to sell.The telecom company, which holds a 21.5 per cent stake in Indus Towers, is planning to use the proceeds from the sale to repay debt, according to a report by Reuters last week.In 2022, Vodafone announced its intention to sell its entire stake in the Indian firm.In the latest stake sale planned for June 19, the company aims to sell shares within the price range of 310 to 341 rupees.On Wednesday, over 615 million shares of Indus Towers were traded across numerous block deals, with a total of approximately 713 million shares exchanged, according to data from the National Stock Exchange of India.Indus Tower's share price was trading in red, down 4.48 per cent at ₹328.50, on June 19, at 11:00 am, on BSE.

₹1,267.05 apiece on the BSE, the stock touched an intraday high of ₹1,317, and an intraday low of ₹1264.80.“Recently, the Sansera Eng share price had given a breakout from a consolidation phase, and the follow-up move post that has been strong with high volumes. Thus, the overall trend remains positive, and one should keep a buy-on-dip approach.

Stock Market News: The domestic benchmark indices, the Sensex and the Nifty 50, rose to record highs at the start of Wednesday's session, tracking positive global equity markets. Furthermore, soft retail sales data in the United States confirmed predictions of an early rate cut by the Federal Reserve, which bolstered the sentiments.

State Bank of India: SBI has initiated discussions with market participants to raise around ₹10,000 crore ($1.20 billion) through infrastructure bonds.Indus Towers: Vodafone Group Plc will sell a 9.94% stake in Indus Towers through a bulk deal at a price range of ₹310- ₹341 per share. The sale, which is slated to open on Wednesday, is managed by Morgan Stanley, BofA Securities, Jefferies, and BNP Paribas.Housing and Urban Development Corporation: HUDCO has raised $200 million (JPY 30 billion) in its first venture into the syndicated loan market.

₹310- ₹341 per share, valuing the transaction between $996 million and $1.1 billion, according to a term sheet seen by Mint.Morgan Stanley, BofA Securities, Jefferies, and BNP Paribas will manage the sale which is slated to open on Wednesday.Mint had reported on Tuesday that Vodafone Group Plc, which owns 21.5% through various entities in Indus Towers, is looking to sell its stake in the mobile tower provider. Private equity (PE) firm I Squared Capital and alternative investment firm Stonepeak were reported to be in the fray as buyers.Indus Towers is India’s largest telecom tower provider with over 219,736 towers covering all 22 telecom circles.

₹18,000 crore in a follow-on public offer in April.In a note to clients, JP Morgan said that the company expects to have adequate cash to repay annual government dues starting FY28.“Vodafone Idea believes that post moratorium-end next year and spectrum payments restarting, it will need government support in FY26/27 and after that it believes its cash generation should be sufficient to repay annual government dues," analysts at the brokerage said in the note seen by Mint.The Aditya Birla Group-promoted telecom services provider owes the government $24.5 billion or more than ₹2 trillion for spectrum bought in prior auctions as well as dues from adjusted gross revenues or AGR, that it needs to start repaying. In FY26, it must pay $3.5 billion, then $4 billion each year from FY27 to FY31.“Given its cash crunch, it is in favour of converting the deferred amount ($3.5 billion) of this debt into equity from FY26, which we assume happens at ₹10 per share, driving dilution," the analysts added.

Tata Consultancy Services: TCS announced that it has received an adverse judgment from the United States District Court, Northern District of Texas, Dallas Division. The court ruled that TCS is liable for a total of $194.2 million, which includes $56,151,583 in compensatory damages, $112,303,166 in exemplary damages, and $25,773,576.60 in prejudgment interest.

Vodafone Idea (Vi) is confident its operational creditors, including network gear makers Nokia and Ericsson and tower vendor Indus will continue to support it despite delays in clearing their dues as the telco’s upcoming 4G-cum-5G blitz will generate fresh business for them. “Vendor negotiations shouldn’t impact, despite payment issues. With (our) peers’ post-5G capex peak, equipment vendors potentially see Vi as the primary source of growth, making their support likely in addition to the recent preference shares issued for part dues,” Vi’s CFO Murthy GVAS told global brokerage J P Morgan at a recent meeting. Global brokerage J P Morgan also quoted Vi’s Murthy saying that even for Indus, which has “a high proportion of single-tenant towers recently rolled out for LTE coverage, Vi offers a profitable second tenancy and loading revenues that should keep the terms of trade in the telco’s favour”.

NEW DELHI : Private equity (PE) firm I Squared Capital and alternative investment firm Stonepeak are vying for Vodafone Group Plc’s 21.5% stake in Indus Towers Ltd in a deal potentially valued at around $2.3 billion, according to two people aware of the development. The talks are in advance stages, the people said. On 14 June, Reuters reported that Vodafone Group was looking to sell its entire stake worth $2.3 billion, as of Friday's closing stock price in Mumbai, in India's largest telecom tower company through stock market deals and had hired Bank of America, Morgan Stanley and BNP Paribas to manage the sale.

Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a short build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price declines.