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Photo: Mint
Photo: Mint

Stocks to Watch: SBI, HDFC, SpiceJet, HCL Technologies, HPCL, Ashok Leyland

  • The Supreme Court on 17 June will hear plea on interest waiver during the moratorium period
  • HDFC Ltd plans to raise funds and the proposal regarding this will be discussed by its board on 19 June

NEW DELHI : Here’s a list of top stocks that may be in news on Wednesday:

Banks: The Supreme Court on 17 June will hear plea on interest waiver during the moratorium period. The SC said the scope of hearing is limited to the interest waiver, which is levied on accrued interest.

HDFC: The country's largest mortgage lender plans to raise funds and the proposal regarding this will be discussed by its board on 19 June. In a regulatory filing on Tuesday, HDFC Ltd. said a meeting of its committee of directors, duly constituted by the board of directors, will be held on June 19.

SBI: The country's largest lender SBI on Tuesday said it will seek shareholders’ approval in mid-July to raise up to 20,000 crore equity capital through various means in the current fiscal.

HDFC AMC: Standard Life Investments plans to sell up to 2.82% stake in HDFC Asset Management. According to the regulatory filing, floor price for the sale shall be 2,362.

HCL Technologies: The IT major on Tuesday said that it has commenced its operations in Sri Lanka and plans to create over 1,500 new local employment opportunities for both freshers and experienced professionals, within the first 18 months of kick-starting its operations.

Pharma companies: India may impose anti-dumping duty on Chinese antibacterial drug Ciprofloxacin Hydrochloride with a view to guard domestic industry from cheap imports from the neighbouring country. Aarti Drugs Ltd had filed the application for imposition of anti-dumping duty on imports of the medicine from China.

SpiceJet: The domestic carrier hopes that it will be able to return its grounded Boeing 737Max aircraft fleet to operation by October-November this year, according to a Mint report. SpiceJet ordered as many as 205 of these planes in 2017, of which 13 have been delivered. The planes were, however, grounded around the world in March 2019 after two fatal crashes.

Bank of Maharashtra: The state-owned lender reported a drop of 20.46% in its net profit for the quarter ended 31 March, compared to the same period last year, on account of higher provisioning. Bank of Maharashtra posted a net profit of 57.57 crore for the quarter ended March from 72.38 crore in the year-ago period.

HPCL: The company reported a steep 99% drop in its net profit to 27 crore for the March quarter as refining margins plunged and inventory losses mounted because of a sharp fall in international oil prices. Hindustan Petroleum Corp Ltd (HPCL) had posted a net profit of 2,970 crore in the corresponding period a year ago.

Ashok Leyland: Hinduja group flagship Ashok Leyland said its board will meet on 19 June to discuss plan to raise 200 crore via issue of securities.

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