Stocks To Watch On June 07: Benchmark indices continued positive momentum second day in a row, showing relatively lower volatility compared with the results day. In today’s trade, shares of Hero MotoCorp, ICICI Bank, ITC, PB Fintech, Tata Chemicals, and Indian Oil among others will be in focus due to various news developments.
Bajaj Finance: The company’s subsidiary, Bajaj Housing Finance, approved an IPO of equity shares valued at Rs 10 each. The IPO will consist of a fresh issue of equity shares totaling up to Rs 4,000 crore.
Wipro: The IT service company announced a contract worth $500 million, valued at approximately Rs 4,175 crore awarded by a leading US communication service provider. Over a five-year period, Wipro will deliver managed services for various products and industry-specific solutions.
ICICI Bank: SEBI has issued an administrative warning to the bank for alleged employee outreach to influence votes on the delisting of ICICI Securities’ equity shares.
PB Fintech: CEO Yashish Dahiya faces a show cause notice from SEBI over a $2 million investment by the Dubai unit in YKNP Marketing Management, with the company seeking legal advice.
Tata Chemicals: The company’s subsidiary, Tata Chemicals Europe, has been fined £1.1 million by the Chester Crown Court in the UK for a safety incident in 2016. This incident, which resulted in a contractor’s injury and subsequent death, occurred at one of the company’s UK sites.
Hindustan Unilever: Arun Neelakantan has been appointed as Executive Director, effective July 1.
RVNL: NTPC awarded the company a project worth Rs 495 crore, as per a letter of acceptance received.
Hero MotoCorp: India’s largest two-wheeler manufacturer acquired an additional 2.2 per cent stake in Ather Energy, a Bengaluru-based electric mobility startup, for Rs 125 crore.
ITC: Paving the way for the listing of ITC Hotels, shareholders of diversified conglomerate ITC Ltd today approved the demerger of the hotels business.
Indian Oil: Indian Oil Corp has agreed to amicably settle suit by Welspun Enterprises through a mediation process by Delhi high court.
Muthoot Microfin: Muthoot Microfin has entered into a strategic co-lending partnership with the State Bank of India (SBI).
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