Reliance Jio Board Approves Appointment of Akash Ambani as Chairman


Akash Ambani takes the reins of Reliance Jio.

Events today

Last day to buy EKI Energy Services, Indian Oil, Ratnamani Metals to be eligible for bonus issue

SIS Limited board meets to consider share buyback proposal

EIA Crude Oil Inventory Report

Finance Minister Nirmala Sitharaman will brief the media on the outcome of the 47th GST Board Meeting to be held in Chandigarh at 4 p.m.

SEBI will hold its quarterly board meeting

Cosmo Films: listing of free equity shares

AGM

Asian paintings (11am)

HDFC AMC (3 p.m.)

Tata Communications (3 p.m.)

Bombay Dyeing (3:30 p.m.)

Supreme Industries (4 p.m.)

Polycab India (9 hrs)

Prism Johnson (10:30 a.m.)

Cosmo Films (3 p.m.)

Oil and Gas Updates

Singapore GRMs fell to $23.6/bbl from their recent high of $30.5/bbl – down 23%

Brent Crude returned to $118/bbl as major producers Saudi Arabia and the United Arab Emirates looked unlikely to significantly increase production, while Western governments agreed to explore ways to cap the price of Russian oil.

Gas spot prices in Asia remain stable at $37/mmBtu

Securities transaction

nothing major

DII/FII data

FII sold Rs 1244.44 cr net worth of shares on June 28 (prov)

Net DIIs bought for Rs 1205.63 cr of shares on June 28

FII F&O cash data:

Net purchase of index futures Rs 84 cr

Net index options buy Rs 2262 cr

Net forward purchase on shares Rs 327 cr

Net sale of stock options Rs 46 cr

Total FII net buys Rs 2626 cr in F&O

F&O Ban

Sun Television

Delta Corporation

Bundle/Bulk Offer

India

JTEKT Corporation sold 13 lakh shares (0.5%) at 77.6

Company announcements

J&K Bank

The board approved the FY23 fundraising plan of Rs 2000cr.

Approves share capital up to Rs 500cr

Capital raising via NCDs up to Rs 1500cr

Glenmark Pharmaceuticals

Glenmark Pharmaceuticals Inc., USA, continues to expand its OTC portfolio with the acquisition of approved ANDAs from Wockhardt Ltd

Addiction

Reliance Jio Board Approves Appointment of Akash Ambani as Chairman of the Board.
Mukesh Ambani resigns as director of the company on June 27

Appoints Pankaj Mohan Pawar as Managing Director for a five-year term

Eastern Bell

Announces the timely completion of two of its projects involving CAPEX of ~Rs. 20 Cr

CGSB

Co says ‘Helicopter carrying 9 people on board including 2 pilots made an emergency landing at approximately 11.45am today in the Arabian Sea, one nautical mile from the ONGC Sagar Kiran offshore platform. Five survive”

Moving route

Approves redemption up to Rs 1700/sh for amount up to Rs 120cr via open market route

Acrylic

Commenced commercial production of an additional 160,000 units of quartz kitchen sinks, Bhavnagar Gujarat factory on June 28

Other news

GST Meeting: Sources ETNOW

Council approves increase in GST on e-waste from 5% to 18%

Council agrees to remove exemption from services provided by RBI, SEBI, IRDAI, FSSAI

Council approves hotel accommodation below Rs 1,000 to be taxed at 12%

Council approves that healthcare services where room charges exceed Rs 5000/day to be taxed at 5% without ITC

GST Board approves removal of GST exemptions on many B2B supplies

Approves removal of GST exemption on storage and warehousing of goods such as sugar, natural fibers

Council approves removal of exemption on services such as warehouse fumigation

Council Approves Removal of Business Class Air Travel Exemption for Northeastern States

Approves the withdrawal of exemptions on road and rail transport as an input for businesses

Council approves removal of exemption for services through the slaughter of animals

The GoM report on online gambling will be discussed tomorrow

Council rejects ITC refund due to reverse duty structure on edible oils and coal

Agree to change the term “branded” to “pre-packaged and labeled” for retail to avoid disputes

Alert: Branded cereals and foods are currently subject to 5% GST

Council approves GST increase on LED lights, ink, knives and blades to 18% from 12%

Council approves increase in GST on electric pumps and dairy machines from 12% to 18%

Council approves increase in GST on grain milling machinery to 18% from 5%

Council approves increase in GST on solar water heaters and finished leather from 5% to 12%

GST Board approves correction of reverse duty structure on certain items

Approves raising tariffs on contracted services with government and local authorities to 18% to correct inversion

Acceptance increasing the rate on products specified for petroleum to 12% on inputs to correct the inversion

Approves the increase in the GST rate on services provided by the foreman to the voucher fund to 18% from 12%

GST Board approves rate increase on finished leather and bonded leather from 5% to 12% to correct inversion

Council approves rate increase on leather goods and clay brick manufacturing services from 5% to 12%

GST council reduces rate on all orthopedic implants to 5%

The Council reduces the IGST to zero on defense articles imported by private suppliers, when the end user is the defense forces

Council cuts GST on treated wastewater from 18% to zero

The Council specifies that electric vehicles equipped or not with a battery pack will be at 5%

Council increases GST on aseptic wrapping paper from 12% to 18%

Council reduces cable car travel rate from 18% to 5%

Council approves visit relief for foreign tourists

From Bloomberg

India secures eligible bids for 15 coal mines in latest auction

The coal ministry is receiving bids for 24 mines, out of 122 offered in the auction, according to a ministry statement.

15 mines get two or more bids, a qualifying condition

JSW Steel, Jindal Power, Jaiprakash Power and Godawari Power among the bidders, the ministry said, without mentioning the mines they bid for.

Coal mine auctions are held every few months and the remaining mines will likely be included in the next auction

SpiceJet

Plans to take seven Boeing 737max jets by December

From Reuters

India plans to allow some raw sugar exports

India is considering allowing factories to ship raw sugar stocks that have piled up in ports and warehouses, trade and government sources said on Tuesday, weeks after it imposed restrictions on overseas sales sweetener.

Additional shipments from India, the world’s largest sugar exporter after Brazil, could weigh on SBc1 raw sugar futures, which are trading near a four-month low.

India last month capped this season’s exports at 10m tonnes, a figure it had almost reached, in a bid to prevent a spike in domestic prices as the world’s second most populous country fight against high food inflation.

Insiders

Companies Category Number of actions Activity
Pokarna Administrators Immediate parent 1,296 Bought
Star cement Promoter & Director 4,149 Bought
RPG Life Promoter 7,885 Bought
PSP projects Promoting group 9,000 Bought
Shakti pumps Promoting group 9,998 Bought
Haldyn Glass Promoter 10,000 Bought
Ganesh Benzoplast Promoter 25,000 Bought
Diagnosis Vijaya Promoter 31,000 Bought
Asian granita Promoter 36 100 Bought
Pudumjee Paper Promoting group 46,664 Bought
Finance Manappuram Promoter & Director 56,000 Bought
Nuvoco Vistas Promoter 300,000 Bought
AIA Engineering Promoter 400 Sold
ISGEC Heavy Administrators Immediate parent 1,000 Sold
Eclerx Services Employee trust 1,232 Sold
Grasim Employee 2,480 Sold
MTAR Technology Designated person 4,074 Sold
Capri Global Employee 8,450 Sold
Gati Promoter 12,500 Sold
Industry page Promoter & Director 19,338 Sold
IIFL Wealth Employee 20,825 Sold
HDFC Bank Designated person 31,700 Sold
Gland Pharma Designated person and KMP 57,856 Sold
Global Vaibhav Employee Welfare Trust 95,010 Sold
Chambal Fertilizer Promoter 1,712,000 Engaged

Investor/analyst meeting

ICICI Lombard General Insurance meeting with ICICI Pru AMC, Morgan Stanley on June 27

Ashoka Buildcon meeting with Arihant Rising Stars Summit 2022 on June 29

Arvind investor meeting with CARE PMS on June 30

HeidelbergCement online meeting with Franklin Templeton MF on June 29

Maharashtra Seamless meeting with Kitara Capita on June 29, ITI Asset Management on June 30

MAS Financial Services Investor Meeting June 28

SOBHA meeting with Kotak Securities on June 28

India Pesticides meeting with Arihant Capital Markets on June 29

Kirloskar Ferrous Industries will participate in the call hosted by Monarch Networth Capital on June 29

Star Health meeting with Ocean Dial on June 28

IEX meeting with Dhandho Funds on June 29, Rainier Investments on June 30

Cosmo Films Investor Meeting on June 29

Raymond will participate in the call organized by Arihant Capital Markets on June 29

RBL Bank meeting with Ashmore Investment Advisors on June 28

DLF meeting with Kotak Institutional Equities Real Estate Forum on June 28

M&M participates in a Non-Deal Road Show (NDR) with several funds/investors in New York on June 28 and 29

Graphite India meets DSP MF on June 29

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