Buzzing stocks, June 10: Order boost for KEC, RVNL; USFDA action on DRL

Stocks to Watch on Monday, June 10: RVNL's joint venture with KRDCL has emerged as the lowest bidder for a project worth Rs 156 crore

Stocks to Watch on Monday, June 10, 2024: With the Reserve Bank of India's (RBI's) monetary policy, and new government formation begin markets, focus will shift to stock-specific action, and global trends.

Amid thin trade in Asia on Monday, due to holiday in Australia, China, and Hong Kong, markets may see tepid action today. Stock-specific developments, and FII activity will sway the market mood today.

At 8:00 AM, GIFT Nifty was down 18 points at 23,307. 

Given this, here the top stocks to keep on radar on Monday:

RailTel Corporation: RailTel Corporation of India (RailTel Corp) has received work order worth Rs 81.6 crore from National Informatics Centre Services Incorporated (NICSI) for the ICT Infrastructure.

The order is for supply, installation, configuration, commissioning and integration of ICT infrastructure. 

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KEC International: The company has secured new orders worth Rs 1,061 crore across various sectors, taking the total year-to-date order intake to Rs 3,000 crore.

The T&D business won projects in India, East Asia Pacific, and America. The Railways business received orders in both technologically advanced and conventional segments within India. Additionally, the Cables business secured orders for supplying conductors and cables to a prominent infrastructure player in India. 

RVNL: The railway company's joint venture with KRDCL has emerged as the lowest bidder for a project worth Rs 156 crore from Southern Railway for 'provision of automatic signalling on Ernakulam Thiruvananthapuram Division' in Southern Railway.

Jubilant Pharmova: In a post market hours update, Jubilant Pharmova said on Friday that the United States Food and Drug Administration (USFDA) has issued three observations for its contract manufacturing facility operated by Jubilant HollisterStier LLC in Spokane, Washington.

The company, the filing said, will submit an action plan on the observations.

Dr Reddy's Laboratories: The USFDA has issued Form 483 with four observations after inspecting the company's Andhra Pradesh-based API manufacturing facility.

The inspection was conducted from May 30, 2024 to June 7, 2024, it added.

Dalmia Bharat: According to the company's exchange filing, Dalmia Bharat's wholly-owned subsidiary Dalmia Cement will acquire 26 per cent equity share capital and compulsory convertible debentures, each, of Solarcraft Power India 23 Pvt Ltd.

The acquisition includes equity shares totalling Rs 10.31 crore, and 8.44 million compulsory debentures worth Rs 8.43 crore.

Filatex Fashions: The small-cap company has approved the sub-division/ stock split of existing one equity share (fully paid up) into five equity shares (fully paid up).

Artson Engineering: Engineering and Construction of ATF Fuel Farm and Hydrant System at Guwahati International Airport worth Rs 126.15 crore.