Stocks To Watch Today: Network18, Reliance Industries, SREI Equipment Finance, Torrent Power, WPIL
Here are the stocks to watch going into trade today.
Global stocks extended their declines Tuesday amid a surge in bond yields, as the spectre of steeper rate hikes to contain inflation loomed.
Stocks in Japan and South Korea shed over 1% each. In Australia, they fell more than 5%. US futures steadied in the wake of a three-day rout in the S&P 500. The Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell more than 0.5% to 15,689.5 points as of 6:30 am.
Traders are now pricing in a 75-basis-point rate hike by US Federal Reserve on Wednesday and a 200-basis-point increase in the current cycle. That when inflation in the world's largest economy has risen to a four-decade high.
Elsewhere, crude oil prices held above $120/barrel. The dollar hovered at a two-year high and the yen edged up from a 24-year low. The rupee fell below 78/dollar for the first time on Tuesday. Bitcoin fell 10% more.
Against that backdrop, here are the stocks to watch today:
Network18, RIL: Viacom18, a unit of Reliance Industries-controlled Network18 Group, has won the rights to stream the Indian Premier League for the next five years.
Torrent Power: The Gujarat-based firm has acquired a 50 MW solar power plant in Telangana from SkyPower Group at an enterprise valuation of Rs 416 crore.
SREI Equipment Finance: An RBI-appointed administrator has found instances of fraud in the company. The administrator has filed an application with Kolkata NCLT against 14 respondents involved.
WPIL: The company has received an order from the Government of West Bengal for execution of a turnkey project, comprising of commissioning of a clear water reservoir. The contract is valued at Rs 430.87 crore and the same will be completed over a period of 24 months.
Dynamatic Technologies: The firm has won a contract to manufacture the escape hatch door for Airbus A220 aircraft.
Bajaj Finance: Increased fixed deposit rates by 20 basis points.
Pledged Share Details
Omaxe: Promoter Guild Builders revoked and created a pledge of 1 crore shares on June 8.
Insider Trades
Apollo Hospitals: Promoter & Director Suneeta Reddy bought 2,610 shares on June 9.
KEC International: Promoter Group Instant Holdings bought 8,000 shares between June 9 and June 10. Promoter Group bought 9,000 shares between June 9 and June 10.
Mrs. Bectors Food Specialities: Promoter Group Anoop Bector (AB Family Trust) bought 5,000 shares on June 13.
Block Deals
Uflex: Flex International bought 3.65 lakh (0.5%) shares at Rs 585 apiece. Montage Enterprises sold 3.65 lakh (0.5%) shares at Rs 585 apiece.
Bulk Deals
Future Retail: Vistra ITCL sold 65 lakh shares (1.19% stake) at Rs 8.45 apiece.
Trading Tweaks
Price Band Revised From 5% To 20%: Rajratan Global Wire, Gujarat Fluorochemicals
Ex-Date AGM: R Systems, DCB Bank, Havells India, Indian Bank
Ex-Date Interim Dividend: R Systems International
Ex-Date Final Dividend: DCB Bank, Havells India, Indian Bank
Move Into Short-Term ASM Framework: KPI Green Energy
Move Out Of Short-Term ASM Framework: Fine Organic Industries, Everest Kanto Cylinder