Stocks to Watch today, June 15: Axis Bank, Infy, TCS, IOC, realty, Zee, REC

Stocks to watch on June 15, 2023: Shares of IT companies are likely to be in focus on Thursday after JP Morgan reiterated its negative stance and downgraded the sector to underweight.

Stocks to Watch on Thursday, June 15, 2023: The key benchmark indices are likely to start trade on a tentative note following a mixed outing of the US indices. Overnight, the US markets reversed most of their gains even after the US Fed while leaving interest rates unchanged in the June policy meet, hinted of two more rate hikes later this year.

Chair Jerome Powell also said he doesn't foresee any rate cuts this year.

At 07:30 AM, the SGX Nifty June futures quoted at 18,820. 

Meanwhile, here are the stocks that are likely to see some action in trades on Thursday. 

 

IT stocks:  JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight, as it believes the overall demand environment for the sector still remains weak. Among stocks, it has placed Infosys, TCS, MphasiS in its 'negative catalyst watch'. 

Axis Bank: US-based private equity firm Bain Capital is likely to sell a 0.7 per cent stake in Axis Bank, in the price range of Rs 964 to Rs 977.70 per share. The stake sale would be worth $267 million, CNBC-TV18 reported on Wednesday, citing sources.

Hero MotoCorp: The two-wheelr major announced the launch of its new Xtreme 160R 4V in the premium motorcycle category, at an ex-showroom price starting at Rs 1.27 lakh.

Mahindra & Mahindra (M&M), Ashok Leyland: Automobile major M&M and Ashok Leyland have joined the race to acquire a significant stake in MG Motor India, a wholly-owned arm of Shanghai-headquartered SAIC Motor, investment banking sources told Business Standard. The Sajjan Jindal-led JSW group has already evinced interest to take up to 48 per cent stake in MG Motor India. 

Indian Oil (IOC): The company plans to set up an 80,000 tonnes sustainable aviation fuel plant with LanzaJet in Haryana, the refiner's chairman said. The company is looking at an investment of about Rs 2,300 crore, S M Vaidya said on the sidelines of an industry event in New Delhi.

Real-estate: Shares of real-estate related companies are likely to be in focus after a report by CREDAI, Colliers and Liases Foras stated that housing prices in Delhi-NCR rose by 16 per cent, in January-March period on better demand and higher construction cost. As per the report, housing prices across the top eight cities rose 8 per cent year-on-year (Y-o-Y). 

DCW: The company informed BSE, that there has been unforeseen mechanical breakdown of CO2 gas compressor in Soda Ash Plant and this will result in lower production of Soda Ash by an estimated 6 KMT in the current quarter. 

Kesoram Industries: The B K Birla group company is working on a two-pronged strategy to return to profitability in the next 18 months. The two key elements for strengthening the balance sheet are scaling up blended cement and refinancing debt, P Radhakrishnan, chief executive officer (CEO) of Kesoram said. 

Container Corporation of India (Concor): The Department of Investment and Public Asset Management (DIPAM) might seek the intervention of an inter-ministerial group and top finance ministry officials for cooperation in stake sale of the company. The govt seeks to sell stake worth Rs 12,000 crore in national transporter this fiscal as part of disinvestment target. 
 

REC: The company’s board is scheduled to meet on June 24 to consider a proposal for final dividend for FY23, if any.
 

Dhruv Consultancy Services: The company along with Cosmopolitan Consultant and Technical Education center & Beam Consultants have been shortlisted as "Consultant" towards services more specifically as Project Implementation Support Consultant (PISC) for the Pre-feasibility, Feasibility study for Rural connectivity improvement project by Government of Nepal.

Tega Industries: The company informed BSE that the National Company Law Tribunal (NCLT) on June 14 approved the composite scheme of arragement between Nihal Fiscal Services, the promoter company of Tega Industries, Marudhar Food & Credit and MM Group Holdings, all part of the promoter group company.

Stocks in F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance, Indian Energy Exchange (IEX), India Cements, Manappuram Finance and Zee Entertainment are the seven stocks in F&O ban period on Thursday.