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HDFC Life, RITES, Thomas Cook may see action

Domestic markets are anticipated to open on Tuesday on a negative-to-flat note amid weak global cues. As the Union Government announced fresh relief measures to uplift the economy, experts believe that the market is likely to next in a range with limited downfall. The SGX Nifty is nowadays ruling at 15,858 points indicates (8 am) a flat opening as the Nifty futures on Monday closed at 15,855 points and the spot at 15,814.70.

The divergent trend continued at the US bourses, with tech-heavy Nasdaq and the broader S&P 500 edging up almost one percent and 0.23 percent respectively, even as the Dow Jones Industrial Average slip down 0.44 percent. Led by Japan, most Asian markets are low in the morning trade. Equities in Japan, Korea, Hong Kong, and Australia dropped between 0.5 percent and one percent.

The Finance Minister on Monday announced eight economic relief packages, including four new ones to grow economic recovery. It was largely goal at extending support to the worst affected sectors due to the pandemic. The announcements included extension to Atmanirbhar Bharat Rozgar Yojana, a free tourist visa scheme, extra Rs 1.5 lakh crore for ECLGS, and a 1.1 lakh crore loan guarantee scheme for Covid affected sectors, among others.

According to Dhiraj Relli, MD & CEO, HDFC Securities, A lot of thought seems to have gone into the announcements with a wide spectrum of the population willed to get relief and Entertainment. Although the total impact amount seems huge at nearly Rs.6.29 lakh crore, a large portion of this is from credit guarantee schemes where there is no immediate discharge. However, the provision of credit guarantee oils the wheels of the particular focus areas enabling a faster return to normalcy.

Stocks to watch

HDFC Life Insurance: Standard Life is circumspect to sell seven crore shares, or 3.46 percent of the company, in HDFC Life Insurance. This will be accomplished through block agreements on June 29. The price range for the stock has been fixed at ₹658-678 a share. At the bottom end of the price range, the base offer size would amount to ₹4,606 crores.

 JP Morgan India and BoFA Securities India are joint securities instruments. As of March 31, 2021, Standard Life had 17.95 crore shares amounting to 8.88 percent in HDFC Life Insurance. HDFC Life shares closed at ₹696  per share on the BSE on Monday.

RITES: Metro Express Limited, Mauritius has granted additional work of consultancy services (PMC) for the development of the mainline from Rose Hill to Reduit through Ebene for an extra cost of MUR 250 million (Rs 45 crore approximately).

Godrej Consumer Products: ICRA reaffirmed its long-term rating to [ICRA] AAA (Stable) from [ICRA] AA+ (Stable) while enhancing its short-term rating of [ICRA] A1+.

Ramco Systems: The company will offer its advanced Enterprise Resource Planning (ERP) software to Aden Ports Development Company (APDC) at their Aden Container Terminal (ACT, extending its 12-year partnership with Yemen’s largest container terminal

Thomas Cook: The industry’s subsidiary DEI (Digiphoto Entertainment Imaging) has signed a multi-year memorandum with Shanghai Disney Resort, which is home to the Shanghai Disneyland theme park, featuring seven lands, two resort hotels, Disneytown, a huge shopping, dining, and entertainment district, Wishing Star Park and other outdoor recreational spaces.

Results calendar

A2Z Infra, ABC India, Bajaj Steel, Bal Pharma, Balmer Lawrie expense, Bambino Agro, Bilcare, Beekay Steel factory, Chambal Breweries, Coastal Corporation, Cochin Minerals, DCM, DCM Finserv, DCM Shriram Industries, Dredging Corporation Of India, EID-Parry (India), Jet Infra, Jyoti, Kirloskar Electronic, KRBL, Lancor Holdings, LGB Forge, Madhucon, McDowell Holdings, MTNL, NBCC (India), Omaxe, Orissa Minerals, Quest, Rossell India, Ruchi Soya factories, S&S Power, Sandesh,  Fermenta Biotech, Finolex Cables, GIC, Gallantt Metal, Gallantt Ispat, GOCL Corporation, Gujarat Mineral Development Corp, Hindustan Oil Exploration, Himadri Speciality Chemical, Hubtown, Housing & Urban Development Corp, IND-Swift Laboratories, IRCTC, Indo National, Indian Railway Finance Corporation (IRFC) ,Stampede Capital (SC), Sintex, Subros, Sunteck Realty, Suzlon, SW Solar, Tarmat, Titan BIotech, Uflex, Universal Cables, Vardman Poly, VLS FInance, Walchandnagar, Warren Tea, and Zee Learn are among the companies that will declare their quarterly results on Tuesday.