Stocks to Watch: Telecom, LIC Hsg Fin, KEC Intl, Suven Life, IIFL Finance

Today: The are likely to start trade on Tuesday on a marginally positive note tracking encouraging cues from the Asian peers. Key in Asia were up more than a per cent in early trades. Meanwhile, as of 07:10 AM, the SGX Nifty futures quoted at 15,370 as against the spot Nifty close of 15,350 on Monday.

Meanwhile, here are the stocks that are likely to see some action in trades today.

Telecom: The government has extended the productivity-linked incentive (PLI) scheme for the telecom industry by another year and has expanded its scope to cover design-led manufacturing. The Centre will provide additional incentives of over Rs 4,000 crore under the amended scheme. READ MORE

LIC Housing Finance: The company increased its benchmark Prime Lending Rate, linked to its home loans, by 60 basis points. The new interest rates on home loans now start from 7.50 per cent for borrowers having a credit score of 700 and above. READ MORE

KEC International: The company informed the exchange that it secured new orders worth Rs 1,092 crore across its various businesses, such as Transmission & Distribution, Railways, Civil and Cables.

IIFL Finance: The company’s board is scheduled to meet on June 23 to consider a proposal for issuance of secured redeemable non-convertible debentures through public issue in one or more tranches.

Reliance Industries: SEBI has imposed a fine of Rs 30 lakh on Reliance Industries and two of its compliance officers for violating fair disclosure norms during Facebook’s $5.7 billion investment in its digital unit in 2020.

Suven Life Sciences: The company’s board is scheduled to meet on June 24 to consider a proposal to raise funds by way of issue of equity shares on rights basis.

Escorts Kubota: The company informed BSE that Ajay Mandhar, CEO of Agri Machinery Business has resigned from the company. In the interim, President of Agri Machinery Business Shenu Agarwal shall be handing the role.

Vedanta: The Anil Agarwal-led company has invited expression of interest (EoI) from interested parties to sell its Thoothukudi plant. The local fishing community, however, has called for the shifting of the plant from the area, instead of selling it to someone else. READ MORE

HUDCO: Fitch Ratings has affirmed its ‘BBB-‘ ratings on HUDCO, and revised the outlook from ‘Negative’ to ‘Stable’ following the change in outlook on the company by the government on June 10.

Hubtown: The company has scheduled its board meeting on June 23 to consider a proposal to issue shares on preferential basis to the promoters of the company.

Stocks in F&O ban: Indiabulls Housing Finance and RBL Bank are the two stocks in F&O ban period on Tuesday.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Leave a Reply

Your email address will not be published.