Stocks to watch today: DHFL, OMCs, rate-sensitive stocks and Tata Motors

At 07:24 am, Nifty futures on the Singapore Exchange (SGX) were trading 37 points or 0.31 per cent lower at 12,044, indicating a negative start for the Nifty50 index back home. 

Here's a list of companies whose shares are expected to trade actively in Thursday's session - 

DHFL: Rating agencies CRISIL and Icra have assigned ‘D’ rating to DHFL’s commercial papers, anticipating a default, while CARE Ratings marked D, or default, the housing finance firm’s all long-term facilities, including public NCDs of Rs 29,000 crore and fixed deposits of Rs 8,940 crore. 

Rate-sensitive stocks: Stocks of auto, financials and realty firms are likely to be in focus today as the RBI will release its monetary policy decision later in the day. The central bank is widely expected to go for a 25 basis point (bps) rate cut amid dismal GDP growth, consumption slowdown and liquidity crisis. 

OMCs: Oil marketing companies such as Indian Oil (IOC), HPCL and BPCL are expected to hog the limelight as the US crude futures sank into a bear market on Wednesday, falling more than 20 per cent below their April peak. 

Vedanta: The company is planning to set up a hot metal park at Jharsuguda in Odisha in partnership with the state government. The proposed joint venture would host auto ancillary units in the park with Vedanta’s aluminium unit being the anchor, said a Business Standard report.

Tata Motors: Tata Motors-owned Jaguar Land Rover Wednesday said it has joined hands with BMW to develop next-generation electric drive systems.
 

Wipro: IT major Wipro on Wednesday said it will acquire US-based International TechneGroup Incorporated for $45 million (around Rs 312 crore).

Coal India: Coal India targets more than 8 per cent growth in production at 660 million tonnes in 2019-20 compared to 607 million tonnes in the last fiscal and plans a capital expenditure of Rs 10,000 crore in the current fiscal, according to sources.

Eros International: CARE has downgraded the ratings of Eros International Media to default category, citing delays or likely defaults in serving debt availed from banks. 

Agri-linked stocks: Monsoon rains are likely to enter India through the southern coast around June 8, the state-run India Meteorological Department said on Wednesday, marking the start of the four-month rainy season that is crucial for the country’s farm-dependent economy.

GAIL: As per news reports, CLSA has downgraded the stock to underperform with the target price cut to Rs 365 from Rs 420 earlier. 

Adani Ports: CLSA has maintained 'buy' rating on the stock and raised the target price to Rs  510 from Rs 475 earlier. The brokerage believes after the buyback, return on equity (ROE) would get a boost of 96 bps while EPS (earnings per share) could fall by 1 per cent. 

ICICI Prudential Life: Reports suggest Morgan Stanley has overweight call with the target price at Rs 450 per share.