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Stocks to Watch Today: The markets are likely to start trade on a quiet note on Wednesday even as global markets staged a dramatic recovery amid extremely volatile crude oil prices. As of 07:10 AM, the SGX Nifty futures quoted at 15,851, indicating a marginal gain of 30-odd points at the opening bell.
Meanwhile, the following stocks are likely to see some action in trades on Wednesday.
Adani Power: The Gautam-Adani led firm would seek the approval of shareholders for the proposed related-party transaction worth up to Rs 5,000 crore with Adani ConneX on July 27. The proposed transaction will involve the sale by Adani Power of its special purpose vehicles or subsidiaries to AdaniConneX. READ MORE
Tata Motors: The company has won a case against Evey Trans after the Bombay High Court cancelled a contract, worth Rs 3,675 for supplying 2,100 electric buses, awarded in May to Olectra Greentech’s subsidiary for supplying electric buses to the Mumbai’s transport agency – BEST. READ MORE
Biocon: The company’s subsidiary Biocon Biologics has received EU GMP certificate from the Health Products Regulatory Authority (HPRA), Ireland, for its new monoclonal antibodies drug substance manufacturing facility at Bengaluru.
SpiceJet: The cash-starved airline’s torrid time continues. On Tuesday two separate mid-air issues were reported by the airline, taking the total number of incidents to seven in the last two months. READ MORE
Bajaj Hindusthan Sugar: Lending banks have declared Bajaj Hindusthan Sugar, one of India’s largest sugar manufacturers, a non-performing asset (NPA) after it failed to make payments related to its debt, whose gross value stood at Rs. 4,814 crore as of March this year. READ MORE
IndiGo: Following the recent report of mass leaves by the cabin crew, the airline’s management is of the opinion that Saturday’s flight delays were just an aberration. At the same time, anticipating attrition, IndiGo has been hiring for replacement and expansion. Around 1,500 cabin crew members were under training and expected to join operations over the next few weeks.
Tata Steel: The steel major recorded a 2 per cent YoY drop in overall deliveries due to a levy on steel exports by the government in May. The firm attributed the drop to moderation in exports following the imposition of 15 per cent export duty. READ MORE
NTPC: The state-owned power giant said that its coal output grew by 61 per cent to Rs 42.40 lakh MT in April-June quarter from 26.40 lakh MT in the same period a year ago.
Britannia Industries: The company’s shareholders have voted against a resolution to authorise the board to make investments, give loans and provide guarantees of up to Rs 5,000 crore in the AGM concluded last week.
SBI, Canara, Bank of Baroda: Select public-sector banks, including State Bank of India (SBI), the country’s largest lender, are planning to raise around Rs 7,500 crore through additional tier I bonds, sources told Business Standard. READ MORE
Yes Bank: The private sector bank said its loans and advances increased by 14 per cent to Rs 1,86,598 crore at the end of June 2022 from Rs 1,63,654 crore at end-June 2021.
Hi-tech Pipes: The company informed BSE, that ratings agency CRISIL had assigned a CRISIL – A/ Stable rating on its long-tem cash credit facility worth Rs 77 crore, and upgraded its short-term bank loan facility worth Rs 23 crore to CRISIL A2+ from CRISIL A2 earlier.
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