Stocks to Watch Today: The markets are likely to start trading on Wednesday on a tepid note as even though the US markets rallied strongly overnight the futures this morning were notably in red. Further, as of 07:30 AM, the SGX Nifty futures quoted at 15,584, indicating an opening loss of 40-odd points.
Meanwhile, the following stocks are likely to see some action in trades today.
Bharti Airtel: The telecom major’s Netherland-based subsidiary, Bharti Airtel International, in its bid to optimize balance sheet and reduce debt has announced the commencement of a tender offer to purchase for cash up to $300 million of its 5,350 per cent Guaranteed Senior Noted due 2024.
Zomato: The company has scheduled its board meeting on June 24 to consider a potential acquisition transaction by the company, the consideration for the same may be discharged through issuance of equity shares on preferential basis.
PVR, stainless steel: Multiplex operators PVR and Inox said on Tuesday informed BSE that Securities and Exchange Board of India (SEBI) approved their proposed merger. The two companies in March had announced a merger in a share swap ratio of 3:10; ie 3 shares of PVR for every 10 shares of Inox. The companies would next seek shareholders approval.
Adani Enterprises: The Adani Group’s flagship company was among 11 bidders to have shown interest in the first-ever coal import tender issued by national miner Coal India (CIL). Recently, NTPC awarded 6.25 MT of imported coal tender worth Rs 8,300 crore to Adani Enterprises.
ONGC: The state-owned oil & gas explorer is seeking a minimum $17 price for the gas it plans to produce from coal seams in its Bokaro CBM block in Jharkhand. The company has invited bids for the sale of 0.20 million standard cubic meters per day of gas it plans to produce from the Bokaro CBM block by the year-end. It sought bids on a formula indexed to the prevailing Brent crude oil price. READ MORE
HDFC Bank: The country’s largest private lender is planning to facilitate a shift in its payments module from the existing core banking platform. This said move would ensure minimal payments downtime, even if core banking is not available.
“This 15-month project will be followed by hollowing out the customer-master modules from its existing core systems. It will ensure a single system of record for customers across various products,” said Sashidhar Jagdishan, managing director (MD) & chief executive officer (CEO), in the annual report for 2021-22. READ MORE
Yes Bank: The bank has introduced a new fixed deposit product which is linked to the repo rate. The bank will offer 6 per cent interest rate (repo rate + 1.10 per cent mark up) for deposits of one year to less than 18 months and 6.5 per cent (repo rate + 1.60 per cent) for 18 months to 3 years.
Pressman Advertising: The company has informed BSE, that the meeting of the board of directors and shareholders will be held on June 24 to consider the Draft Scheme of Arrangement with Signpost India Limited.
Stocks in F&O ban: Indiabulls Housing Finance and RBL Bank are the two stocks in F&O ban period on Wednesday.