Shares of Shree Renuka Sugars will remain in focus as open offer from the Singapore-based Wilmar International Ltd begins on June 9. The company plans to acquire a maximum of 24.31 crore shares or 26 per cent offering ₹21.89 a share to the public shareholders of Shree Renuka Sugars. The open offer ends on June 20. With the share price of Shree Renuka Sugars currently ruling at ₹30.8, it remains to be seen whether the open offer turns successful.
Hind Zinc: Stake sale process set to begin
Hindustan Zinc will attract market attention in the coming days as the Finance Ministry has started the process for fresh valuation of the company to push through the Government's residual stake. The Department of Disinvestment, which invited proposals from merchant bankers, has decided to undertake fresh valuation and assessment of fair share value of HZL. Proposals have been sought by June 27. The Centre holds a 29.54 per cent stake HZL.
Loan waiver may impact bank stocks
Banks, particularly State-run institutions, may come under pressure as Andhra Pradesh CM-elect Chandrababu Naidu is set to waive ₹54,000 crore taken by farmers as loans from various banks. This is said to be the first file Naidu will sign after taking over as Chief Minister on June 8. With State-run banks already facing strained balance sheets, analysts fear the new Government proposal to waive farm loans will add more pressure to the banking sector.