Stocks to Watch: ZEEL, HDFC, Tata Motors, Patanjali, EIL, HeroMoto, and Others

Stocks to Watch on June 13: The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 18,732, up 33.5 points or 0.18% from the previous close.

HDFC: The home loan financer has raised over Rs 13,000 crore through 10-year bonds at 7.75 per cent ahead of its merger with the largest private lender, HDFC Bank.

Tata Motors: Tata Motors’ owned Jaguar Land Rover plans an annual investment of 3 billion pounds while targeting revenue of over 30 billion pounds by FY26, according to an investor presentation by the company.

Hero MotoCorp: The two-wheeler major said it plans to open more than 100 exclusive stores for premium models in FY24 at ‘prime’ locations across the country.

Airline stocks: Directorate General of Civil Aviation (DGCA) has relaxed its norms making it easier for Indian carriers to launch new overseas destinations. Current 33-point checklist pruned to 10 points related to airlines’ preparedness for intended operations.

Zee Entertainment: The Securities and Exchange Board of India (Sebi) on Monday debarred Zee Entertainment Enterprises (Zee) promoter and Essel group Chairman Subhash Chandra and Managing Director (MD) and Chief Executive Officer (CEO) Punit Goenka from holding key positions in any listed company for allegedly diverting assets of Essel Group companies.

Patanjali Foods: The edible oil firm has chalked out an aggressive growth plan to reach Rs 5,000 crore operational profit and over Rs 50,000 crore turnover in the next five years.

Engineers India (EIL): The company has won a work order from ONGC worth Rs 472 crore to be completed in 40 months.

Punjab & Sind Bank: The bank’s board has approved raising of capital up to Rs 750 crore through issuance of Basel-III compliant Additional Tier-1 Bonds or Tier-II Bonds in one or more tranches within a period of 12 months.

ICICI Lombard General Insurance: Insurance Regulatory and Development Authority of India (IRDAI) has granted approval to SBI Mutual Funds along with its group entities to acquire up to 10% of the total paid up equity share capital of the Insurer through market purchase.

PC Jeweller: The company has received a ‘Stay Order’ from the District Judge , Patiala House, New Delhi, in favour of the Company, against State Bank of India, restraining the bank from taking any further action against the company. PC Jeweller had filed a suit against SBI for declaration and injunction as well as requesting that the action of the bank in classifying the loan account of the company as Non-Performing Assets (NPA) w.e.f. 29.06.2021 and 24.04.2019 be declared as illegal, null, void, arbitrary, discriminatory and against the RBI circulars.

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