Stocks to watch on June 27: DRL, SBI, IIFL, Telecom stocks, CSB Bank

Stocks to watch on June 27: SEBI has initiated an investigation into Sanjiv Bhasin, associated with IIFL Securities. Officials have reportedly seized Bhasin's digital devices

Stocks to watch on June 27, 2024: Indian equities are poised for a pessimistic opening on Thursday, in line with global peers facing a decline. The Gift Nifty futures, too, indicated a negative start, quoting 64 points lower to Nifty 50 futures at 23,803. 

Markets in Asia were in the red this morning, with Japan's Nikkei 225 down 1.13 per cent and Topix index decreased by 0.69 per cent. South Korea’s Kospi shed 0.69 per cent, while the small cap Kosdaq was up by 0.07 per cent. Hong Kong’s Hang Seng futures were also down 1.22 per cent.

Overnight in the US, the Dow Jones Industrial Average added 0.04 per cent. The S&P 500 rose 0.16 per cent, while the Nasdaq Composite advanced by 0.49 per cent.

 

Meanwhile, back home below are some hot stocks to watch on Thursday

Dr Reddy’s Laboratories: Subsidiary Dr Reddy’s Laboratories SA, Switzerland, entered into an agreement to acquire Nicotinell and related brands from Haleon plc and its associate companies.

State Bank of India: On Wednesday, June 26, SBI announced the successful raising of Rs 10,000 crore through its fifth infrastructure bond issuance. The bonds carry a coupon rate of 7.36 per cent. The issuance garnered strong investor interest, with bids exceeding Rs 19,884 crore, oversubscribing the base issue size of Rs 5,000 crore by nearly four times. A total of 143 bids were received, reflecting widespread participation from a diverse investor base.

IIFL Securities: SEBI has initiated an investigation into Sanjiv Bhasin, associated with IIFL Securities. Officials have reportedly seized Bhasin’s digital devices and gathered evidence as part of the probe. The investigation focuses on allegations of market manipulation and front-running against Bhasin.

Telecom stocks: Bharti Airtel, Reliance Jio, and Vodafone Idea; a total of 141.4 MHz of spectrum was auctioned, amounting to Rs 11,340 crore. Bharti Airtel acquired 97 MHz, Reliance Jio acquired 14.4 MHz, and Vodafone Idea acquired 30 MHz of spectrum.

ITD Cementation India: The company secured a Rs 1,082 crore marine contract for constructing the Third Berth (Jetty) at Dahej LNG terminal in Gujarat, along with specified additional works.

Archean Chemical Industries: According to reports, India Resurgence Fund – Scheme 1 and Scheme 2, along with Piramal Natural Resources, are planning to divest a 10.13 per cent stake. The floor price is set at Rs 655 per share, with a deal size targeted at Rs 818.7 crore.

CSB Bank: According to reports, FIH Mauritius Investments intends to sell a 9.72 per cent stake via a block deal, aiming to raise Rs 595 crore. The floor price for the transaction is Rs 352.4 per share.

PI Industries: The company announced its acquisition of Plant Health Care Plc for £32.8 million, aiming to expand its portfolio in sustainable agriculture solutions.

PTC India Financial Services: R Balaji has been approved as MD & CEO by the RBI, effective June 26.

India Cements: The company will be excluded from the F&O segment post the August series.