The Indian benchmark indices are likely to open in the green on Tuesday, June 22, following trends in Asian peers. Meanwhile, the Singapore-traded SGX Nifty, which is an early indicator of India’s Nifty 50 Index’s performance, was trading 52.00 points or 0.33 percent higher at 15,780.50, at 7:10 am.
Top stocks to look for the day:
State Bank of India: The central board of the bank approved raising fresh Additional Tier 1 (AT 1 ) capital up to an amount of Rs 14,000 crore. The fund raise is subject to Government of India’s concurrence.
United Breweries: The Competition Commission of India (CCI) has approved Heineken International BV’s proposed acquisition of an additional equity stake in the company.
Oil India: The country’s second-largest state oil explorer’s Q4FY21 consolidated net profit fell 27.1 percent to Rs 1,142.4 crore from Rs 1,567.8 crore a year back,while revenue increased 2.8 percent to Rs 6,505 crore from Rs 6,330 crore, QoQ.
Bharti Airtel: The company has announced a strategic partnership with Tata Group for rolling out 5G network solutions for India.
PNB Housing Finance: The Securities Appellate Tribunal (SAT) has allowed the company to move ahead with its scheduled Extraordinary General Meeting (EGM) on June 22. The company can put to vote the resolution to raise capital via preferential allotment but cannot declare the results of the voting until further orders are passed, SAT said.
Indian Bank: The bank has launched its qualified institutional placement (QIP) of shares on Monday, June 21, to raise around Rs 4,000 crore. The floor price is set at Rs 142.15 per share.
Adani Transmission: The company will seek shareholders’ approval to raise up to Rs 2,500 crore in one or more tranches through the issuance of equity shares, securities, debentures and other instruments in its annual general meeting scheduled on July 13.
PG Electroplast: The company approved an incoming investment of Rs 76.6 crore from Baring Private Equity India AIF, Ananta Capital and others.
Dish TV India: The company’s board approved fund raising of up to Rs 1000 crore through rights issue of equity shares. The company plans to issue rights shares at Rs 10 each.
KPIT Technologies: The company will acquire a 60 percent controlling stake in PathPartner Technology for Rs 89 crore. The balance stake is proposed to be acquired over a period of two years against defined growth targets.
MM Forgings: The company’s Q4FY21 net profit jumped to Rs 34.1 crore from Rs 3 crore in Q4FY20, while revenue rose 75.9 percent to Rs 293.3 crore from Rs 166.7 crore, YoY.
Jaiprakash Associates: The company’s Q4FY21 consolidated profit fell to Rs 424.41 crore from Rs 3,068.10 crore a year ago. While revenue jumped to Rs 2,517.2 crore from Rs 1,876.03 crore, YoY.
VST Tillers Tractors: The company reported profit at Rs 12.93 crore in Q4FY21 against a loss of Rs 3.38 crore in the corresponding period a year ago. Revenue increased to Rs 194.74 crore from Rs 119.80 crore, YoY.
Nitco: The tile manufacturer has defaulted on the payment of interest and principal amount of two term loans totalling Rs 500 crore.
List of companies which are going to declare their quarterly results: Aster DM Healthcare, Bharat Electronics, GE Power India, Gandhi Special Tubes, ITI, Jaypee Infratech, Max India, NMDC, Omax Autos, PNB Gilts, Peninsula Land, Religare Enterprises and Sobha among others will release their quarterly results on June 22.
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Source: News18