 "Stocks to Watch today, June 16: IKIO, RIL, Hero Moto, IndiGo, Glenmark, UTI")
Stocks to Watch on Friday, June 16, 2023: In spite of yesterday’s weakness, the key benchmark indices may look to pull back this morning mirroring gains in the US market. Overnight, the US markets rallied over a per cent as investors shrugged off Fed rate hike fears and a 25-bps rate hike by ECB.
At 07:30 AM, the SGX Nifty June futures quoted at 18,805, indicating a likely gap-up of 50-odd points on the Nifty 50.
Meanwhile, here are the stocks that are likely to see some action in trades on Friday.
IKIO Lighting: The stock is likely to debut with a gain of 30-35 per cent today as per cues from the grey market. The Rs 607 crore IPO was subscribed almost 66 times, with high net individuals subscription at 63 times, and retail at 14 times.
IKIO Lighting: The stock is likely to debut with a gain of 30-35 per cent today as per cues from the grey market. The Rs 607 crore IPO was subscribed almost 66 times, with high net individuals subscription at 63 times, and retail at 14 times.
Reliance (RIL): The company is in talks with lenders for a foreign-currency loan of up to $2 billion to fuel the ongoing expansion of its oil-to-telecoms business, according to people familiar with the matter. Lenders involved in the discussions include Bank of America, Citigroup and Standard Chartered.
Hero MotoCorp: The Ministry of Corporate Affairs has ordered an investigation to assess the two-wheeler major’s relationship with a third-party vendor in a case related to alleged diversion of funds, two government sources told Reuters on Thursday.
IndiGo, SpiceJet: IndiGo registered its highest-ever domestic market share of 61.4 per cent in May, capitalising on Go First suspending flights. Domestic airlines flew over 13.2 million passengers in May, up over 3 per cent sequentially. However, SpiceJet’s market share declined to 5.4 per cent from 5.8 per cent in the previous month.
Ramkrishna Forgings, Titagarh: A consortium between Ramkrishna Forgings and Titagarh Rail Systems has been awarded the contract to manufacture and supply 15,40,000 forged wheels over a span of 20 years, under the AatmaNirbhar Bharat Initiative by Ministry of Railways, Government of India. The contract will see the consortium delivering 40,000 forged wheels during the first year, 60,000 wheels in the second year and 80,000 wheels every subsequent year thereafter, with the total contract valued at Rs 12,226.5 crore.
UTI AMC: Sponsors of UTI Mutual Fund, including State Bank of India (SBI), Punjab National Bank (PNB) and Life Insurance Corporation of India (LIC), have initiated the process to dilute their stake in India’s oldest fund house. The three collectively hold 45.21 of the paid-up capital in UTI.
UTI AMC: Sponsors of UTI Mutual Fund, including State Bank of India (SBI), Punjab National Bank (PNB) and Life Insurance Corporation of India (LIC), have initiated the process to dilute their stake in India’s oldest fund house. The three collectively hold 45.21 of the paid-up capital in UTI.
Ashok Leyland: The commercial vehicle manufacturer in association with Aidrivers, a specialist in AI-enabled autonomous solutions, will produce autonomous electric terminal trucks to address the net zero emissions needs of the port industry.
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Glenmark Pharmaceuticals: The drug maker has slashed the price of breast cancer drug Trastuzumab by bringing its brand Trumab at Rs 15,749 for a 440 mg vial from Rs 54,000 earlier. This price reduction will bring the per mg cost of Trumab to around Rs 35, making it the most affordable treatment option for HER2-positive breast cancer, Glenmark said in a statement.
Aurionpro Solutions: The company's board is scheduled to meet on June 20 to consider ways to raise funds va preferential issue.
McLeod Russel: Electrode paste maker Carbon Resources, owned by the Jalans, has exited McLeod Russel India, by offloading its five per cent stake in the open market. In the last nine months, however, the Carbon-McLeod story has changed course more than once.
Satin Creditcare Network: A meeting of the board of directors of the company is scheduled on June 20 to consider and approve the fund raising proposal by way of issuance of listed/unlisted, secured/unsecured, non-convertible debentures on private placement basis.
Arihant Capital Markets: The company's board has approved to raise up to Rs 100 crore by way of issuance of secured unlisted Non-Convertible Debentures on a private placement basis.
Shish Industries: The company's board will meet on June 21 to consider and approve issuance of bonus shares.
Stocks in F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance, Indian Energy Exchange (IEX), India Cements, L&T Housing Finance, Manappuram Finance, Tata Chemicals and Zee Entertainment are the stocks in F&O ban period on Friday.