Stocks to watch: Shares of firms like HDFC Bank, Patanjali Foods, Tata Steel, Axis Bank, Natco Pharma, and others will be in focus on Monday’s trade.
Stocks to Watch June 19: The Nifty futures contract traded on the Singapore Exchange indicates a muted start to domestic equities. The contract was trading at 18,893.50, down 4.5 points or 0.02% from the previous close.
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HDFC Bank: The RBI has allowed HDFC Bank to hold the commercial papers that were issued till date by HDFC, till their maturity, and that it will not roll over or reissue any commercial paper after the effective date of the proposed amalgamation
Axis Bank: The Board of Axis Bank has appointed NS Vishwanathan as non-executive chairman for a period of three years effective October 27, 2023.
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MTAR Technologies: Credit ratings agency ICRA reaffirmed bank facilities of the company’s long-term, and short-term based funds as ‘stable’ on the back of strong earnings growth in fiscal year 2022-23, and comfortable capital structure.
National Fertilisers: The government has appointed U Saravan as Chairman and Managing Director of the company. Earlier Saravan served as Chairman and Managing Director of Madras Fertilisers, and a board member of Indian Potash, and Fortune Biotech.
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PNC Infratech: Credit ratings agency Care Ratings assigned credit rating on the long-term bank facilities of subsidiaries – Kanpur-Lucknow Expressway, Awadh Expressway, and Hathras Expressway as ‘stable’ outlook.
Kalpataru Projects: The board is scheduled to meet on June 21, 2023, to mull, and approve proposal to raise funds by way of issuance of non-convertible debentures on a private placement basis.
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Tata Steel: The steelmaker is mulling a consolidated capital expenditure of Rs 16,000 crore for its domestic and global operations during the current financial year. Of the planned amount, the company has earmarked Rs 10,000 crore towards standalone operations, and Rs 2,000 crore for subsidiaries in India.
Shriram Properties: Chairman and Managing Director M Murali said that the company will invest around Rs 750 crore in FY24 to construct new residential projects as it looks to scale up business amid strong housing demand.
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NMDC: According to reports, the company is likely to invite financial bids for privatising NMDC Steel only after commissioning of the blast furnace at the company’s steel plant in Chhattisgarh, as they expect the company’s value to rise once the steel plant becomes operational.
Natco Pharma: The pharma company received final nod from the US health regulator for its abbreviated new drug application (ANDA) for Tipiracil Hydrochloride and Trifluridine Tablets (generic for Lonsurf).
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Patanjali Foods: Chief Executive Officer Sanjeev Asthana said that the company plans to invest up to Rs 1,500 crore in the next five years on capital expenditure, mostly for scaling up its palm oil business.
