Stocks to Watch: RIL, HUL, Dr.Reddy's, PNB Housing, Future Retail, Banks

Reliance Industries is likely to be in limelight as the company is looking to take advantage of the surging diesel demand in Europe in the backdrop of Russia-Ukraine conflict.

The key benchmark indices are likely to start trade on a bullish note following a steep fall in oil prices on hopes of de-escalation of tension between Russia-Ukraine. As of 07:00 AM, the SGX Nifty futures quoted at 16,630 – indicating a sharp gap-up of nearly 300 points on the Nifty 50 benchmark. 

Apart from global cues, the outcome to the recently concluded elections in five states, and the weekly F&O expiry could sway the market mood. Meanwhile, here are the stocks to focus in trade on Thursday. 

Reliance Industries (RIL): The Mukesh Ambani-led firm’s Jamnagar facility has lifting crude processing and deferring planned maintenance to take advantage of surging demand for diesel in Europe.  READ MORE

Hindustan Unilever (HUL): The FMCG major appointed Madhusudhan Rao as the executive director, beauty and wellbeing and personal care segment, and Deepak Subramanian as the executive director for the home care segment. Rao takes over from Priya Nair, who will move into a global role as chief marketing officer for beauty and wellbeing and Subramanian will take over from Prabha Narasimhan, who has decided to leave the company to pursue an external opportunity, the company said in a release. READ MORE

Dr.Reddy’s, Torrent, Zydus: Indian pharmaceutical major Dr. Reddy's Laboratories said it was focused on business continuity in and around Russia, as Indian drug exporters brace for temporary disruptions to sales due to the Ukraine crisis. Executives at Torrent Pharmaceuticals and Zydus Lifesciences said they saw little or no impact on sales due to the Ukraine conflict. READ MORE

Financials: A host of banks and financial institutions have raised funds from the market in March to fund their business growth and meet balance sheet targets before the end of the financial year. Overall credit growth for the current financial year may remain in single-digit, though there will be improvement as compared to 2020-21. READ MORE

IndusInd Bank: The bank informed the stock exchanges that it will set aside Rs 13.5 crore as additional provision this financial quarter (Q4FY22), responding to an external review of on allegations by anonymous people about the lender’s subsidiary. READ MORE

PNB Housing Finance: The lender plans to raise up to Rs 2,500 crore in equity by issuing shares through rights issue to meet capital adequacy norms and support business growth. READ MORE

Future Retail: The company informed BSE, that it has received certain termination notices in respect of sub-leased properties of Reliance Industries. So far notices have been received for 342 large format stores and 493 small format stores. Historically these stores accounted for 55-65% of retail revenue operations of the company.

Pennar Industries: The company’s board has approved share buyback up to Rs 50 per share, aggregating Rs 40 crore. The company will buyback a maxmium of 5.97 per cent. The board also approved an investment of $ 2.3 million in Pennar Global, its US-based subsidiary. The stock last traded at Rs 38.75 on Wednesday.

Brandbucket Media & Technology: The company’s board approved a proposal to increase the authorized share capital from Rs 4 crore to Rs 25 crore.