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Business News/ Markets / Stock Markets/  Stocks to Watch: HDFC Bank, Airtel, RIL, ONGC, Tata Steel, Adani Enterprises

Stocks to Watch: HDFC Bank, Airtel, RIL, ONGC, Tata Steel, Adani Enterprises

FIIs ended the previous week on a strong note with an inflow of ₹6,646 crore. The markets rebounded on Friday driven by positive global cues, and strong buying in banking, capital goods, consumer durables, and FMCG stocks. DIIs also ended the week as net buyers with an inflow of ₹681.33 crore.

Stocks to Watch for Monday (REUTERS)Premium
Stocks to Watch for Monday (REUTERS)

Here are the top 10 stocks that could be in focus in today's trade:

HDFC Bank/HDFC: In response to the HDFC Bank's request to clarify commercial papers in the wake of the HDFC twins merger, the Reserve Bank of India (RBI) has issued clarifications allowing the private lender to hold commercial papers issued by HDFC Ltd till their maturity. However, the central Indian bank asked HDFC Bank to not roll over or re-issue commercial papers issued by HDFC Ltd after the effective merger date. HDFC Bank went on to add that it will also approach the RBI with the crystalized amounts of all the liabilities of HDFC Limited as of the Effective Date.

Bharti Airtel: Telecom major Bharti Airtel is considering an offshore bond issue and is likely to raise up to $1 billion, two people aware of the matter told Economic Times. As per the report, this comes as the telecom giant plans to refinance high-cost debt, strengthen its balance sheet and also cover some of its 5G capital expenditure requirements. The reports have also stated that the company is in talks with Barclays, Standard Chartered Bank and Citi in order to know the possibility of floating US dollar bonds in the overseas markets in one or more tranches this fiscal year.

Reliance Industries/ONGC: India's oil and gas production between 2023-2032 is expected to achieve a mid-decade peak around 2027, primarily due to Krishna Godavari (KG)-Basin projects operated by Reliance Industries Limited and Oil and Natural Gas Corporation (ONGC), according to S&P Global Commodities. These are old discoveries which have been in development for a while and coming online during 2023. These projects include Cluster 2A in KG-DWN-98/2 and the Dhirubhai 55 (MJ) field. The oil ministry last June said India would allow operators to sell locally produced crude in the domestic market without restrictions.

Tata Steel: Industry giant Tata Steel is planning a consolidated capital expenditure (capex) of 16,000 crore for its domestic and global operations during the current financial year, according to its top management, according to news agency PTI. Out of the planned amount, Tata Steel has earmarked 10,000 crore towards standalone operations and 2,000 crore for its subsidiaries in India, said the company's CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee.

HUL/Craftsman Automation: Hindustan Unilever along with three other stocks will trade ex-dividend in today's session. Hindustan Unilever has declared a final dividend of 22 and Automobile Corporation Of Goa has declared a final dividend of 15. Craftsman Automation will also trade ex-dividend with its final dividend of 11.25 along with Futuristic Solutions with a final dividend of 1.

Adani Enterprises: Adani Enterprise will soon be selling online train tickets. Adani Enterprises declared its intentions on Friday and informed Indian stock market bourses that it has signed a share purchase agreement for the acquisition of a 100 per cent stake in Stark Enterprises Private Limited-owned Trainman — an online train ticket booking platform. Trainman is an IRCTC-authorised train ticket booking agent.

Kalyan Jewellers: Kalyan Jewellers witnessed huge buying and selling in the open market on Friday. Highdell Investment offloaded nearly 725 crore worth of stake in Kalyan, while BNP Paribas was among the top buyers with an investment of nearly 190 crore. Citigroup, Franklin mutual funds, Employees Provident Fund, and Sundaram MFs were among other buyers. As per NSE data, Highdell Investment offloaded 6,41,02,561 equity shares at a price of 113.10 apiece. The transaction aggregated to 724.99 crore.

PNB Housing Finance: PNB Housing Finance on Saturday announced that the company plans to raise capital to the tune of 5,000 crore via the issuance of non-convertible debentures (NCDs) on a private placement basis. The company's board of directors will meet on June 22, 2023, and are to consider and approve the issuance of non-convertible debentures (NCDs). PNB Housing Finance announced its Q4FY23 results, reporting a consolidated net profit of 279 crore, registering a growth of 64.7 per cent, compared to 170 crore in the corresponding period last year.

Jbm Auto/SML Isuzu: Auto components and equipment maker, JBM Auto is the leading contender to acquire a controlling stake in automaker SML Isuzu, according to media reports. SML Isuzu's Japanese promoters are looking to exit the company, and have entered into an advanced stage of discussions with JBM Auto for the sale of their stake. Japan's Sumitomo Corporation, which holds 43 per cent of India-based SML, is looking to exit its operations in India and talks are at an advanced stage. However, the report did not mention any other bidders for the stake.

Titagarh Rail Systems/Ramkrishna Forgings: Titagarh Rail Systems Ltd and Ramkrishna Forgings Ltd plan to jointly set up one of Asia’s largest train wheel manufacturing plants in India, a top executive at the private sector wagon-maker said. India currently imports train wheels mainly from China, and the new venture is expected to make the country a net exporter of wheels, he added. It also plans to export the wheels to several countries, including Europe. The executive said the project will make India self-reliant in rail wheel manufacturing.


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Published: 19 Jun 2023, 07:16 AM IST
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