Home / Markets / Stock Markets /  Stocks to Watch: CESC, Federal bank, KEC, L&T Infotech, SBI, Welspun

NEW DELHI: Here are top ten stocks that could be in the news today.

CESC Ltd: The discom’s consolidated net profit rose 13% to 429 crore in the March 2021 quarter, compared to 378 crore during the same period a year ago. Its total income during January-March 2021 rose to 3,003 crore, compared to 2,729 crore in the year-ago period.

Federal Bank: The lender’s board has approved a 916.25 crore fund raise via equity issue to World Bank arm International Finance Corporation and associates. The board also decided to raise up to 4,000 crore by issuing equity shares or other instruments through various modes and 8,000 crore by issuance of debt securities in Indian or foreign currency.

KEC International: The power transmission sector EPC company has secured orders worth 937 crore across transmission and distribution, railways, overhead electrification, and semi-high speed rail verticals, it said in a regulatory filing.

Larsen & Toubro Infotech Ltd: The company said it will acquire Cuelogic Technologies, a digital engineering and outsourced product development company, for $8.4 million (about 61.6 crore). Cuelogic will be integrated with the digital practice of Larsen & Toubro Infotech, it said in a statement.

PNB: Companies owned by fugitive diamantaire Mehul Choksi have allegedly siphoned off over 6,344.96 crore from the Punjab National Bank (PNB) using fraudulent letters of undertaking and foreign letters of credit, the CBI has alleged in its supplementary chargesheet, detailing the agency's three-year-long investigation.

SBI: The country's largest lender said that its central board will meet next week to consider raising additional tier-1 (AT-1) capital for the current fiscal. The bank said it plans to raise AT-1 capital by way of issuance of Basel III compliant debt instruments in US dollar or Indian rupee through a public offer or private placement to overseas and/or Indian investors during FY22. AT-1 bonds, also called perpetual bonds, carry no maturity date but have a call option.

Shriram Transport Finance Co: The company said that it will buy back bonds issued by it in January 2019 for a limit up to 450 crore. The decision was taken by the banking and finance committee of the company on 16 June, STFC said in a regulatory filing.

Shriram City Union Finance Ltd: The company's board has approved the issue of 1,000 redeemable secured non convertible debentures of face value of 10,00,000 each amounting to a total of 100 crore in one or more tranches either as fully paid up or partly paid-up on private placement basis.

TTK Prestige: The company’s performance during the year FY21 improved with an all-time high net sales of 2,033 crore, up 5% from 1,937 crore a year ago. The consolidated turnover and profit before tax of the company was at 2,187 crore compared to 2,073 crore a year ago. The company’s board has recommended a final dividend of 30 per share for FY21, totalling to 50 per share including the interim dividend already paid.

Welspun Enterprises Ltd: The company said that its consolidated net profit fell 54% to 40.94 crore during the quarter ended 31 March, from 89.08 crore during the same period a year ago. Consolidated total income during the January-March 2021 quarter rose to 600.97 crore, compared to 515.70 crore a year ago.

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