Stocks to Watch today, June 12: SpiceJet, IOC, Go Fashion, BoI, Concor

Stocks to watch on June 12, 2023: Indiabulls Housing Finance, Indian Energy Exchange (IEX) and India Cements are the three stocks in F&O ban period on Monday.

Stocks to Watch on Monday, June 12, 2023: The key benchmark indices are likely to start trade on a slightly positive note tracking global peers. At 07:30 AM, the SGX Nifty June futures quoted at 18,685, indicating an opening uptick of 50-odd points on the Nifty 50. 

Meanwhile, here are the stocks that are likely to see some action today. 

SpiceJet: Wilmington Trust, one of SpiceJet’s aircraft lessors, has moved the National Company Law Tribunal (NCLT) to initiate an insolvency process against the airline for non-payments of dues. The first hearing of this case will take place today. READ MORE

Go Fashion: The India arm of US venture capital firm Sequoia Capital plans to sell a 10 per cent stake in Go Fashion (India) worth Rs 625 crore. The transaction is likely to happen on Monday in block deals at a floor price of Rs 1,135 a share. 

Tata Motors: The company has fixed July 29 as the record date for determining the entitlement Of members o receive final dividend for FY23.

Container Corporation of India (Concor): The disinvestment of state-run firm may be delayed indefinitely because the process has hit inter-ministerial obstacles. The Ministry of Railways is not interested in the proposed 30.8 per cent stake sale, said two officials familiar with the development. READ MORE  

Maharashtra Seamless: The company has made voluntary prepayment of outstanding long term loan of Rs 234 crore approx. (~ $28.38 mn) on June 09, 2023, and has now become completely debt free.

Amara Raja: The Group is all set to expand its presence in lead-acid battery through increasing its manufacturing capacity and setting sight on raising its market presence in West Asia East, South East Asia and Africa, through organic and in-organic mode.  It has drawn a roadmap to increase its sales in the lead acid segment by 150 per cent to $3 billion in the next five years. READ MORE

Indian Oil (IOC): The firm has walked away with half of the natural gas that Reliance Industries and its partner bp of the UK offered in the latest auction of the fuel.

Dalmia Bharat: The company plans to spend around Rs 19,000 crore to expand its cement capacity to 120 million tonnes per annum (mtpa) by 2031 to cash in on the infrastructure and housing boom, its MD and CEO Puneet Dalmia said. 

Bank of India (BoI): The public sector lender plans to raise upto Rs 3,000 crore in capital through tier II bonds in the current financial year. The bank’s board has also approved a proposal to raise up to Rs 6,500 crore in FY24, of which Rs 4,500 crore would be through additional tier-I bonds/equity and balance via tier II bonds. 

Allcargo Logistics: The company acquired a 30 per cent stake in Gati-Kintetsu Express from KWE-Kintetsu World Express and KWE Kintetsu Express.

Maan Aluminium: The company has fixed July 27 as the record date for the purpose of ascertaining the eligibility of the shareholders entitled to receive shares for 1:5 stock split and 1:1 bonus issue.

Cochin Shipyard: The company secured a contract worth Rs 300 crore from Indian Navy for the MR/Mid Life Upgrade of an Indian naval ship.

Titagarh Rail Systems: The company approved a proposal to raise Rs 288.8 crore through preferential allotment of shares to Smallcap World Fund Inc.
 

Shriram Properties: The realty firm is targeting a 25 per cent growth in sales bookings this fiscal from a record Rs 1,846 crore in the previous year on strong housing demand, its CMD M Murali said

Future Enterprises: The company has invited Expression of Interest for its businesses which are across manufacturing, trading and leasing of retail infrastructure across India. The last date of receipt of interest is set at June 25 and the provisional list will be out on July 5.

Stocks in F&O ban: Indiabulls Housing Finance, Indian Energy Exchange (IEX) and India Cements are the three stocks in F&O ban period on Monday.