Stocks to Watch today, June 8: Banks, Auto, Lemon Tree, Adani Ent, Titagarh

Stocks to Watch on June 8, 2023: Shares of banks, automobile, and real estate companies could see considerable action in Thursday's session as the Reserve Bank of India (RBI) is slated to announce its

Stocks to Watch on Thursday, June 8: All eyes will be on the Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC), which is set to announce its interest rate decision at 10 AM on Thursday. Markets expect the six-member MPC to keep the policy repo rate unchanged for a second consecutivr time at 6.5 per cent.

At 7:45 AM, SGX Nifty was mildly higher at 18,825.

Elsewhere in Asia, trends were largely mixed post a similar handover from the US markets. Japan's Nikkei was flat with a positive bias, South Korea's Kospi was down 0.22 per cent, and Australia's ASX200 was up 0.04 per cent.

 

Meanwhile, here's a list of stocks to watch out today:

Rate sensitives: Shares of financials, including banks, non-bank finance companies, and micro-finance lending institutions, along with automobile, and real estate sectors could see considerable action in Thursday's session as the Reserve Bank of India (RBI) is slated to announce its interest rate decision today.

Adani Enterprises: According to a Reuters report, Adani Group will go slower on acquisitions this year as cost of capital has risen globally, the company said, signaling reduced dealmaking at the conglomerate which has rapidly grown by acquiring assets. 

Tech Mahindra: Life Insurance Corporation of India (LIC) bought additional 1.9 crore shares, or 2 per cent of the company’s equity, at an average price of Rs 1,050.77 per share in the last seven months. The insurer now holds an 8.84 per cent stake in Tech Mahindra.

Zydus Lifesciences: The company has received final approval from the United States Food and Drug Administration (US FDA) for Tadalafil Tablets USP, 20 mg. Tadalafil Tablets USP, 20 mg had annual sales of $61 million in the United States (April 2023).

Titagarh Wagons: The Board of Directors of the Company is scheduled on Saturday, June 10, 2023, to consider and approve a proposal to raise funds by issue equity of shares or other securities including through preferential issue, qualified institutional placement, rights issue, or through any other permissible mode.

Hero MotoCorp: The two-wheeler major plans to launch mid-segment and budget-segment electric scooters in FY25, Chief Executive Officer (CEO) Niranjan Gupta said on Wednesday. 

Punjab Sind Bank: A meeting of the Board of Directors of the Bank is scheduled to be held on Monday, June 12, 2023, to consider and approve the proposal for raising of capital through issuance of Additional Tier-I Bonds or Tier-II Bonds up to an amount of Rs 750 crore. The amount will be raised within a period of 12 months from the date of approval.

Tata Elxsi: The company has partnered with the Indian Space Research Organization (Isro) to enable the upcoming Gaganyaan Mission. Through the association, Tata Elxsi has designed and developed Crew Module Recovery Models (CMRM) for recovery team training of the space Mission. 

Satin CreditCare Network: The Board of Directors of the Company is scheduled on June 12, 2023 to consider and approve the proposal for raising of funds by way of issuance of securities on a private placement basis, in one or more tranches.

Lemon Tree Hotels: The Company has signed a License Agreement for a 60-room property in Rajamundry, Andhra Pradesh. The hotel is expected to be operational by Q3FY25.  

Timex Group India: A cyber incident has been reported at the Company impacting the Company’s data server, which caused some disruption in operations. The affected areas have been isolated, the company said. The Company is undertaking a review of the systems and impacted servers to confirm the ability to restore the data and return to normal operations,it added. 

Torrent Power: The company has issued and allotted Non-Cumulative, Redeemable and Non-Convertible Debentures (NCDs) worth Rs 600 crore at a coupon rate of 8.50 per cent p.a. on private placement basis.

Avantel: A meeting of the Board of Directors of the Company is scheduled to be held on Friday, June 23, 2023, to consider and approve the proposal for sub-division/split of the equity shares of the Company. 

Stove Kraft: Balaji A S, chief financial officer of the Company has tendered his resignation from services of the Company due to personal reasons. The company is in the process of hiring a new CFO and CIO (Chief Information Officer).

Sula Vineyards: The company informed the exchanges that it has identified a new Chief Financial Officer, who will come on board in August. 
 

Haldyn Glass: The company has informed the exchanges that one of the furnace at a plant, located at Gavasad Village, Vadodara, will remain shut for a period of 90 days from June 8, 2023, to undertake relining. This, it said, will impact the production and profitability during the forthcoming quarter. 

Hatsun Agro Products: The Board of Directors of the Company will meet on July 5, 2023, to consider and approve the proposal for the Sale of Windmill Division of the Company by way of transfer of all the assets and liabilities related to that on a 'Slump Sale' basis to the prospective buyer.