Indian benchmark indices are likely to open lower on Thursday following shortfalls in global peers after US Federal Reserve indicated two interest rate hikes in 2023. Meanwhile, at 7:10 am, the SGX Nifty was trading 106.50 points or 0.68 percent lower at 15,669.00, signalling a negative start for the broader index in India.
Top stock to look for the day:
Wipro: The IT major has signed a partnership with Exaware, to develop advanced engineering solutions that help innovation in the networking industry, streamline 5G technology upgrades, and open the door to future 6G compatibility.
Tata Motors: The automaker is considering a further extension of up to a year for CEO and MD, Guenter Butschek.
Punjab & Sind Bank: The state-owned bank has declared M/s Lanco Infratech Limited’s NPA account as fraud, with outstanding dues of Rs 215.17 crore.
Welspun Enterprises: The company’s Q4FY21 consolidated net profit fell 54 percent to Rs 40.94 crore from Rs 89.08 crore in Q4FY20. While revenue increased to Rs 600.97 crore from Rs 515.70 crore, YoY.
State Bank of India: The bank’s central board is scheduled to meet on June 21 to consider raising Additional Tier 1 (AT 1) capital via public offer or private placement during FY22.
ISGEC Heavy Engineering: The Indian heavy engineering company has bagged an order for the fabrication of Above Ground Piping Spools from Tata Projects, India, for one of the projects of national importance.
Shriram Transport Finance Company: On Wednesday, the company said it will buy back bonds issued by it in January 2019 for a limit of up to Rs 450 crore.
CESC: The company’s Q4FY21 consolidated profit rose to Rs 429 crore against Rs 378 crore in the corresponding period a year ago. While, revenue jumped to Rs 2,890 crore from Rs 2,621 crore YoY. The company has also approved a proposal for a sub-division of the existing 1 equity share of the nominal value of Rs 10 each to be sub-divided into 10 equity shares at a nominal value of Re 1 each.
Federal Bank: The bank’s board has permitted issuing equity shares to World Bank arm International Finance Corporation and associates for over Rs 916.25 crore.
Greenply Industries: Mirae Asset Investment Managers (India) have acquired 0.576 percent equity stake in the company via open market transaction on Monday,thereby raising shareholding to 5.45 percent from 4.87 percent earlier.
Nureca; The company’s Q4FY21 consolidated profit rose to Rs 3.89 crore against Rs 2.38 crore in the same period last year. While revenue dropped to Rs 31.84 crore from Rs 32.96 crore, YoY.
LG Balakrishnan & Bros: HDFC Asset Management Company acquired 2 percent stake in the company via open market transaction on Monday. Thus, raising shareholding to 7.29 percent from 5.29 percent earlier.
Allcargo Logistics: The company’s board of directors will consider raising up to Rs 1,000 crore via debt on June 23.
List of companies which are going to declare their quarterly results: Basant Agro Tech, DB Corp, Khadim India, Indostar Capital Finance, Jammu & Kashmir Bank, Novartis India, Natco Pharma, Nava Bharat Ventures, PowerGrid Corporation, Power Mech Projects, Royal Orchid Hotels and Tube Investments of India, among others will release their quarterly results on June 17.