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Stocks to Watch Today: Reliance Industries, PowerGrid Corporation of India, Welspun Corp

Top stock to look for the day

Top stock to look for the day

The Indian benchmark indices may open in green on Monday, June 7, following gains in global markets.

The Indian benchmark indices may open in green on Monday, June 7, following gains in global markets. Meanwhile, the SGX Nifty was trading 68 points or 0.43 percent higher at 15,777.00 at 7:10 am, indicating a positive start for the broader index in India.

Top stock to look for the day:

InterGlobe Aviation: IndiGo Q4FY21 net loss extended to Rs 1,147.2 crore from 870.8 crore, while revenue fell 25 percent YoY to Rs 6,222.9 crore. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDAR) rose to Rs 648.3 crore from Rs 86.7 crore, while EBITDAR margin was at 10.4 percent contrary to 1.0 percent, YoY.

Tata Steel: The company’s wholly-owned subsidiary Tata Steel Mining Ltd (TSML) has been declared as the successful resolution applicant by the Committee of Creditors for the acquisition of Rohit Ferro-Tech Ltd.

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Punjab National Bank: The state owned bank’s Q4FY21 standalone profit at Rs 586.33 crore from Rs 506.03 crore in Q3FY21. While net interest income dropped 16.5 percent to Rs 6,937.55 crore from Rs 8,312.98 crore, QoQ.

PowerGrid Corporation of India: The company bought Fatehgarh Bhadla Transco (FBTL) and Sikar New Transmission Limited (SNTL) on build, own, operate and maintain (BOOM) basis from the bid process coordinator - REC Power Distribution Company.

Dr Reddy’s Laboratories: The company is recalling 2,980 bottles of Atorvastatin Calcium tablets in the United States due to quality issues.

Bank of Baroda: The bank’s board has approved to set off an accumulated loss of over Rs 11,048 crore against the share premium account of the bank.

Reliance Infrastructure: The company approved raising up to Rs 550.56 crore by preferential allotment of up to 8.88 crore shares and/or warrants convertible into an equivalent number of shares to promoter group and VFSI Holdings Pte. Ltd, which is an affiliate of Värde Investment Partners, LP.

Welspun Corp: The company has been granted license by the American American Petroleum Institute, USA, to manufacture SAWH pipes as per API specifications and to apply API monogram on them.

Bank of Maharashtra: The bank in its annual report (2020-21) has said the pandemic-driven slowdown in the economic activities may lead to a rise in customer defaults, and its impact on the bank will depend on the COVID-19 situation going forward. The report also cites significant volatility in the global and Indian economy due to the onset of the pandemic and its onslaught.

Delta Corp: Due to the extension of COVID-19 restrictions in the states of Goa and Sikkim, the casinos operated by the company and its subsidiaries will remain closed until June 14, 2021.

RBL Bank: The Reserve Bank of India (RBI) approved the re-appointment of Vishwavir Ahuja as the Managing Director & CEO of the bank, with effect from June 30, 2021. He will hold the position for a further period of one year.

IFGL Refractories: The company reported a consolidated loss of Rs 2.53 crore in Q4FY21 against a loss of Rs 13.93 crore in the corresponding quarter last year. Their revenue jumped to Rs 283.52 crore from Rs 222.09 crore, YoY.

Jammu & Kashmir Bank: The bank has appointed Dr Altaf Hussain Kira (Assistant Vice President) as Chief Risk Officer of the Bank, with effect from June 4, 2021, for a period of three years.

Shalby Ltd: The company has inaugurated a new hospital - Zynova-Shalby, with an infrastructure facility with 150 beds capacity at Ghatkopar, West Mumbai.

DHFL: The Mumbai bench of the National Company Law Tribunal (NCLT) will pronounce its final verdict in the DHFL insolvency case today. Among 16 other related matters listed for a final order in the DHFL case, the court will also be ruling on Piramal Group’s takeover plan for the company.

List of companies which are going to declare their quarterly results: Central Bank of India, Dynamatic Technologies, Jubilant Ingrevia, MRF, Mrs Bectors Food Specialities, New India Assurance Company, SEAMEC, SMC Global Securities and Union Bank of India among others will release their quarterly results on June 7.

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first published:June 07, 2021, 08:45 IST