HomeBusinessStocks to Watch: Axis Bank, CSDL, Hero MotoCorp, Indian Oil, Concor, REC,...

Stocks to Watch: Axis Bank, CSDL, Hero MotoCorp, Indian Oil, Concor, REC, and Others


Last Updated: June 15, 2023, 08:30 IST

Stocks to Watch June 15: The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,826, down 9 points or 0.05% from the previous close.

Hero MotoCorp: The two-wheelr major announced the launch of its new Xtreme 160R 4V in the premium motorcycle category, at an ex-showroom price starting at Rs 1.27 lakh.

Mahindra & Mahindra (M&M), Ashok Leyland: Automobile major M&M and Ashok Leyland have joined the race to acquire a significant stake in MG Motor India, a wholly-owned arm of Shanghai-headquartered SAIC Motor, investment banking sources told Business Standard. The Sajjan Jindal-led JSW group has already evinced interest to take up to 48 per cent stake in MG Motor India.

Indian Oil (IOC): The company plans to set up an 80,000 tonnes sustainable aviation fuel plant with LanzaJet in Haryana, the refiner’s chairman said. The company is looking at an investment of about Rs 2,300 crore, S M Vaidya said on the sidelines of an industry event in New Delhi.

IT stocks: JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight, as it believes the overall demand environment for the sector still remains weak. Among stocks, it has placed Infosys, TCS, MphasiS in its ‘negative catalyst watch’.

Axis Bank: US-based private equity firm Bain Capital is likely to sell a 0.7 per cent stake in Axis Bank, in the price range of Rs 964 to Rs 977.70 per share. The stake sale would be worth $267 million, CNBC-TV18 reported on Wednesday, citing sources.

Real-estate: Shares of real-estate related companies are likely to be in focus after a report by CREDAI, Colliers and Liases Foras stated that housing prices in Delhi-NCR rose by 16 per cent, in January-March period on better demand and higher construction cost. As per the report, housing prices across the top eight cities rose 8 per cent year-on-year (Y-o-Y).

DCW: The company informed BSE, that there has been unforeseen mechanical breakdown of CO2 gas compressor in Soda Ash Plant and this will result in lower production of Soda Ash by an estimated 6 KMT in the current quarter.

Container Corporation of India (Concor): The Department of Investment and Public Asset Management (DIPAM) might seek the intervention of an inter-ministerial group and top finance ministry officials for cooperation in stake sale of the company. The govt seeks to sell stake worth Rs 12,000 crore in national transporter this fiscal as part of disinvestment target.

REC: The company’s board is scheduled to meet on June 24 to consider a proposal for final dividend for FY23, if any.

Axis Bank: Global private equity firm Bain Capital is likely to sell a stake worth $267 million in Axis Bank through block deals on Thursday, according to reports.

CDSL: Promoter BSE Ltd has sold partial stake in Central Depository Services Ltd (CDSL) through open market transactions on Wednesday.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments