 "Stocks to Watch today, Jun 13: HDFC, Airline, Zee, Patanjali, EIL, HeroMoto")
Stocks to Watch on Tuesday, June 13, 2023: Mirroring upbeat global cues and drop in retail inflation, the markets are likely to start trade this morning on a positive note. At 07:30 AM, the SGX Nifty June futures quoted at 18,754, indicating an gap-up of 50-odd points on the Nifty 50.
India's retail inflation rate cooled to a 25-month low at 4.25 per cent in May on the back of a high base and easing price pressures across categories. Food inflation fell to an 18-month low of 2.91 per cent.
Further, Index of Industrial Production (IIP) growth rebounded to 4.2 per cent in April from 1.1 per cent in March, largely due to an increase in output growth in manufacturing (4.9 per cent).
Meanwhile, here are the stocks that are likely to see some action in trades on Tuesday.
HDFC: The home loan financer has raised over Rs 13,000 crore through 10-year bonds at 7.75 per cent ahead of its merger with the largest private lender, HDFC Bank.
Hero MotoCorp: The two-wheeler major said it plans to open more than 100 exclusive stores for premium models in FY24 at 'prime' locations across the country.
Airline stocks: Directorate General of Civil Aviation (DGCA) has relaxed its norms making it easier for Indian carriers to launch new overseas destinations. Current 33-point checklist pruned to 10 points related to airlines' preparedness for intended operations. READ MORE
Zee Entertainment: The Securities and Exchange Board of India (Sebi) on Monday debarred Zee Entertainment Enterprises (Zee) promoter and Essel group Chairman Subhash Chandra and Managing Director (MD) and Chief Executive Officer (CEO) Punit Goenka from holding key positions in any listed company for allegedly diverting assets of Essel Group companies.
Patanjali Foods: The edible oil firm has chalked out an aggressive growth plan to reach Rs 5,000 crore operational profit and over Rs 50,000 crore turnover in the next five years.
Engineers India (EIL): The company has won a work order from ONGC worth Rs 472 crore to be completed in 40 months.
Engineers India (EIL): The company has won a work order from ONGC worth Rs 472 crore to be completed in 40 months.
Punjab & Sind Bank: The bank's board has approved raising of capital up to Rs 750 crore through issuance of Basel-III compliant Additional Tier-1 Bonds or Tier-II Bonds in one or more tranches within a period of 12 months.
ICICI Lombard General Insurance: Insurance Regulatory and Development Authority of India (IRDAI) has granted approval to SBI Mutual Funds along with its group entities to acquire up to 10% of the total paid up equity share capital of the Insurer through market purchase.
PC Jeweller: The company has received a 'Stay Order' from the District Judge , Patiala House, New Delhi, in favour of the Company, against State Bank of India, restraining the bank from taking any further action against the company. PC Jeweller had filed a suit against SBI for declaration and injunction as well as requesting that the action of the bank in classifying the loan account of the company as Non-Performing Assets (NPA) w.e.f. 29.06.2021 and 24.04.2019 be declared as illegal, null, void, arbitrary, discriminatory and against the RBI circulars.
Satin Creditcare Network: The company has scheduled its board meeting on June 15 to consider and approve the fund raising proposal by way of issuance of non-convertible debentures on private placement basis.
Balkrishna Paper Mills: The company's board has approved issue of equity shares on 'Rights basis' up to Rs 45 crore. The entitlement ratio and record date will be announced in due time.
Madhucon Projects: The company's board has approved Mohammd Shafi as the Joint Managing Director of the company w.e.f. June 11, 2023 with substantial powers delegated, in regards Technical, Administration & Financial.
Stocks in F&O ban: Delta Corp, Indiabulls Housing Finance, Indian Energy Exchange (IEX) and India Cements are the four stocks in F&O ban period on Tuesday.