 "Stocks to Watch today, June 14: Adani Group, Zee, RIL, Maruti, SBI Life")
Stocks to Watch on Wednesday, June 14, 2023: The equity markets are likely to start trade on a slightly positive note, tracking the overnight gains on the Wall Street. The US markets logged gains after a cooler-than-expected CPI inflation refueled expectations of a pause in rate hike by the US Fed later tonight.
At 07:30 AM, the SGX Nifty June futures quoted at 18,825.
Meanwhile, here are the stocks that are likely to see some action in trades on Wednesday.
Adani Group: The Gautam Adani-led group is in talks with lenders, including global banks, as it seeks to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements last year, said people familiar with the matter. READ MORE
Power stocks: The National Committee on Transmission (NCT) has approved a record Rs 64,000 crore worth of six power transmission projects for connecting green energy installations. The projects are likely to be awarded this year through the bidding route.
SBI Life: The Security Appellate Tribunal (SAT) has stayed Irdai’s decision to transfer policy liabilities of Sahara India Life Insurance to SBI Life. On June 2, Irdai had directed SBI Life Insurance to take over policy liabilities of around 2 lakh policies of Sahara Life as the latter failed to comply with the regulatory directions.
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Zydus Lifesciences: The pharma firm has received the United States Food and Drug Administration (USFDA) nod for Varenicline Tablets and Diclofenac Sodium/ Misoprostol delayed release tablets in the US. These drugs are indicated for treating smoking addiction and osteoarthritis respectively.
Zee Entertainment: Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises (ZEEL), is likely to seek a fresh forensic audit of the company after market regulator Sebi leveled fund diversion charges against Zee promoters, top lawyers said.
Meanwhile, Essel Group Chairman Subhash Chandra and ZEEL Managing Director and Chief Executive Officer Punit Goenka approached the tribunal on Tuesday, seeking a stay on the interim order banning both from taking key positions in listed companies.
KEC International: The RPG Group Company has secured new orders totalling Rs 1,373 crore across its various businesses.
Anupam Rasayan: The company has inked a Letter of Intent worth $ 265 million (approx Rs 2,186 crore) with one of the Leading Japanese Speciality Chemical company.
Reliance Industries (RIL): The company may earn $10-15 billion from its new energy business by 2030 but will need acquisitions or partnerships to make up for limited expertise in technology, said a report by Sanford C Bernstein.
Maruti Suzuki: The four-wheeler major is set to launch a new multi-purpose vehicle (MPV) - Invicto - next month. It will be the company’s first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday.
HFCL: The telecom maker bagged an order worth Rs 80.92 crore from the Delhi Metro Rail Corporation (DMRC).
Brand Concepts: The company's board is scheduled to meet on June 16 to consider a proposal for raising funds by way of issue of equity shares on preferential basis.
Stocks in F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance, Indian Energy Exchange (IEX), India Cements and Manappuram Finance are the six stocks in F&O ban period on Wednesday.