Shares of Mahanagar Gas will debut on the bourses today, 1 July 2016. The initial public offer (IPO) of city gas distribution firm Mahanagar Gas received bids for a total of 111.95 crore shares and its IPO was subscribed 64.55 times. The shares were allotted to the investors at Rs 421 per share, the top end of the Rs 380 to Rs 421 per share price band for the IPO. The IPO had opened for bidding on 21 June 2016 and closed on 23 June 2016.
Auto stocks will be in focus as these companies announce monthly sales volume data for June 2016.
Maruti Suzuki India (MSIL) announced after market hours yesterday, 30 June 2016, that it signed a memorandum of understanding (MoU)) with Government of Andhra Pradesh, to set up, manage and run Institute of Driving Training and Traffic Research at Venkatachalam village in Darsi, Prakasham district of the state.
The infrastructure spread across 20 acres of land will be provided by the Andhra Pradesh Government, while Maruti Suzuki will run and manage the institute. The facility to be built as per the MoRTH guidelines shall consist of an institute building, a hostel and training tracks will all required formation. The infrastructure is expected to be complete by 2018. Set up under the public-private-partnership (PPP) model, this will be Maruti Suzuki's first IDTR in South India. Maruti Suzuki will undertake the training on lines of the other IDTRs including All Gujarat Institute of Driving, Technical Training and Research (AGIDTTR), Vadodara. The Company plans to collaborate with the various government departments like Tribal Development Department to promote road safety and driving as an employment opportunity among the tribal youth of Andhra Pradesh. The main focus is to make people employable hence additional training in personality, hygiene, courtesy and communication is imparted to the youth.
Bosch's board of directors meet today, 1 July 2016, to consider a proposal for buyback of the company's equity shares.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a decrease in petrol and diesel prices. Indian Oil Corporation (IOCL) yesterday, 30 June 2016, announced a decrease in the price of petrol and diesel with effect from the midnight of 30 June/1 July 2016. Petrol price was decreased by Rs 0.89 per litre and diesel price was decreased by Rs 0.49 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 64.76 per litre and diesel costs Rs 54.70 a litre.
Aviaition stocks will be in focus as aviation turbine fuel (ATF) prices were hiked by 5.47% to 49,287.18 per kiloliter in Delhi for domestic airlines from midnight of 30 June 2016 and 1 July 2016, IOCL said
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Godrej Properties will be in focus. The company had earlier anounced about creation of Godrej Fund Management and its managed fund Godrej Residential Investment Program II (GRIP-II). The company announced after market hours yesterday, 30 June 2016, that GRIP II has made its first investment under the platform, whereby it has acquired 80% of the equity share capital in Godrej Greenview Housing (GGHPL), towards investing into the project Vihang, Thane. Pursuant to the above, GGHPL has ceased to be the subsidiary of Godrej Properties.
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