Track shipments

IOC, HPCL, Reliance Infrastructure, Adani Transmission, IIFL Wealth

Stocks to watch in trade for June 6, 2022: IOC, HPCL, Reliance Infrastructure, Adani Transmission, IIFL Wealth.

Focus on MOCs

Saudis raise oil prices more than expected amid Asian rebound for July shipments, sources say

SAUDI ARAMCO INCREASES ASIA ARAB LIGHT OIL FOR JULY TO +6.50/BBL

Adani Transmission

Signature of a definitive agreement with Essar Power Transmission to acquire an operational interstate transmission project of 673 km of circuits (ckt) for an enterprise value of Rs 1,913 crore

With this acquisition, the cumulative network will reach 19,468 ckt km, of which 14,952 ckt km are operational and 4,516 ckt km are in various stages of execution.

Trust infrastructure

Approved the raising of additional long-term resources through the issuance of foreign currency convertible bonds up to USD 500,000,000

Gujarat Gas

Reduce the price of Industrial PNG from Rs5/scm to Rs58/scm.

As the LNG spot price fell to 20-25 USD/mmbtu from 30-35 USD/mmbtu previously, a price drop was expected.

A price cut of Rs5/scm would reduce the margin to Rs6-7/scm from the current super normal margin of Rs11-12/scm

Sugar Cos

India meets 10% ethanol mixed with gasoline

The ethanol blend goal was reached 5 months before the deadline

High blend of ethanol in gasoline saved Rs 41,000 cr in foreign exchange reserves

India targets 20% ethanol blending by 2025

Poonawalla Fincorp

After the SEBI investigation, it was concluded that Abhay Bhutada, MD had not disclosed sensitive unpublished price information to anyone.

Previously, Abhay Bhutada was suspected of having disclosed UPSI to certain entities which allegedly directly/indirectly traded the certificate of Magma Fincorp Limited (now known as Poonawalla Fincorp).

IIFL Wealth

SEBI on Friday took action against six India Infoline Group employees for leading

Employees were also banned from the securities market for five years

Automotive stocks

The Federation of Automobile Dealers Associations (FADA) will release retail vehicle registrations for May around 9 a.m.