Stocks to watch: Reliance, Tata Motors, Biocon, Tata Steel, J&K Bank, BoB

Stocks to watch today: Akash M Ambani will take over as non-executive director and chairman of the board of directors of Reliance Jio; Tata Motors will hike prices of CVs by 1.5 to 2.5 per cent.

Stocks to watch today: The Indian equity markets are likely to open tepid amid unsupportive global cues. As of 7:16 AM, the SGX Nifty Futures quoted 15,702 levels, signaling a gap-down of over 100 points on the Nifty50. On Tuesday, the US equity markets were in pain as major indexes dropped in trade. Dow Jones fell 1.5 per cent, the S&P 500 slipped 2.01 per cent, and NASDAQ Composite was down 2.9 per cent.
 

Markets in Asia-Pacific, too, followed the subdued note overseas and edged lower in trade on Wednesday morning. While Nikkei 225 fell 0.9 per cent, Kospi dropped 1.5 per cent.
 

That apart, investors will keenly watch out signs of economic recovery or impending recession fears as the US release their quarterly GDP data on Wednesday, June 29.
 

Meanwhile, here is a list of stocks that are likely to see some action in trade on Wednesday:
 

Reliance Industries: Billionaire Mukesh Ambani has resigned from the board of group’s telecom arm, Reliance Jio, and handed over the reins to elder son Akash Ambani, who has been appointed as the non-executive director and chairman of the board of directors of the company. READ MORE
 

Tata Motors: The auto major will raise the prices of commercial vehicles by 1.5 to 2.5 per cent, effective July 1. The hikes will cover the commercial vehicle range and the quantum will depend on individual model and variant. This comes on the back of company’s measures to combat steep rise in input costs at various levels of manufacturing. READ MORE
 

Bank of Baroda: The public sector lender has reorganized its corporate and institutional credit business by dividing the two units – large business and mid-corporate. That apart, it plans to open around 27 branches for mid-corporate entities with business of up to Rs 250 crore, in order to meet high demand for credit investments. READ MORE
 

Biocon: The CBI approached the Delhi High Court to challenge the lower court’s order that denied custody of those arrested in the CDSCO bribery scandal, allegedly involving a senior executive of Biocon Biologics. Since the CBI could not question the accused arrested after six days, they expressed apprehension that the delay might impede investigation. READ MORE

Adani Ports & SEZ: The firm approached Supreme Court after Bombay High Court dismissed plea challenging disqualification of their bid by the Board of Trustees of Jawaharlal Nehru Port Authority (JNPA). The contract was for upgrading a container terminal in Navi Mumbai. READ MORE
 

J&K Bank: The state-owned bank will raise up to Rs 2,000 crore, via a mix of debt and equity, in the current fiscal 2022-23. The board approved to raise equity capital of nearly Rs 500 crore in one or more tranches by way of rights issue or preferential allotment, private placement or qualified institutional placement or a follow on public offer. 
 

Future Group: The Singapore International Arbitration Centre (SIAC) denied Future Group’s plea to terminate the arbitration proceedings initiated by e-commerce major Amazon against Future Retail’s deal with Reliance Industries. The SIAC said that it will continue with arbitration proceedings against Future Group, which are in final stages of hearing. 
 

Steelmakers in focus: Steelmakers are likely to cut production from next month to regulate inventory amid fall in domestic demand. The move also comes on the back of new export duty cut that has made international sales unviable. 
 

Tata Steel: Chairman, N Chandrasekaran said that the company would stay on course of strong expansion as the Indian steel industry is globally competitive and companies should be able to expand capacity in value-added products for both India and across the globe. With a capital expenditure plan of Rs 10,000 to Rs 12,000 crore per year, the steel major wants to expand at a faster pace and reach target of 30 to 40 metric tonnes. 
 

Bajaj Consumer: The FMCG firm plans to launch new products in different categories under their flagship brand Bajaj Almond Drops to tap on the popular hair oil label. They also launched a moisturizing soap under the Bajaj Almond Drop umbrella and plan to bring products in hair-care and skincare under one uniform brand. 
 

Glenmark Pharmaceuticals: The Mumbai-based pharma major has acquired and approved generic versions of certain over-the-counter (OTC) drugs from Wockhardt in the US for an undisclosed sum. The move is expected to strengthen the acquirer's OTC presence in the US.
 

Stocks in F&O ban: Sun TV and Delta Corporation are stocks banned in the F&O ban period on Wednesday, June 29.