Overnight, tech stocks dragged down US markets around the world. The Dow Jones was unchanged at the end of the day, while the S&P 500 fell 0.4% and the NASDAQ Composite fell 1.1%.

But markets in Asia and the Pacific moved in a mixed way early on Tuesday. The Nikkei 225, Topix, and Kospi all went down by up to 0.4%. Australia’s S&P 200 went against the trend and gained 0.2%.

In the meantime, here are some stocks to keep an eye on today:

Vodafone Idea: At a recent meeting with Aditya Birla Group Chairman Kumar Mangalam Birla, top officials of the DoT were told that Vodafone Idea Ltd. (VIL) was in advanced talks with three to four private equity funds to raise about Rs 20,000 crore.

Lupin: According to news sources, Lupin is thinking about reorganising its business by splitting off its API (active pharmaceutical ingredients) business. This would make the company more valuable.

ICICI Prudential Life Insurance: The company said that tax officials have sent them a GST demand letter for Rs 492,06 crore. The problem is one that affects the whole industry, and it has to do with input tax credits. The company thinks it has used qualified input GST credits in accordance with the rules.

Tech Mahindra: The company’s unit LCC France has accepted a plan to sell its 49% stake in SARL Djazatech and its subsidiary EURL LCCUK Algerie. Tech Mahindra said that there was no addition to the company’s total revenue or net worth for the year that ended on March 31, 2023.

Airtel Business Chief Executive Officer Ajay Chitkara has left his job at Bharti Airtel. He’ll keep working there until the third week of August. Airtel Business will have three business and channel parts. Vani Venkatesh will be in charge of the Global business, Ganesh Lakshminarayanan will be in charge of the Domestic business, and Ashish Arora will be in charge of the Nxtra Data Centres.

Aditya Birla Capital: The company has set the floor price for its Q!B offer at Rs 175.99 per share. At a meeting of shareholders on June 24, Aditya Birla Capital got permission to issue up to Rs 1,250 crore worth of preferred shares.

TCS: Tata Consultancy Services (TCS) Ltd. has chosen a new head to handle the hiring of contract workers as an internal investigation into the bribes-for-jobs affair continues. Reports say that Sivakumar Viswanathan, who has worked for the company for about 30 years, is now in charge of the Resource Management Group, or RMG. RMG is in charge of hiring contract workers and putting people on jobs within the company.

Federal Bank: The bank has chosen Independent Director A.P. Hota to be the part-time head from June 29, 2023, to January 14, 2026.

Axiscades Technologies: The company has finished re-financing the Rs 210 crore in debt it drew to buy Mistral Solutions. The interest cost for the company will go down by more than 400 basis points per year because of the refinancing.

JSW Steel, JSW Vallabh Tinplate, Vardhman Industries, and JSW Steel Coated Products filed this order with the Registrar of Companies after the NCLT approved the plan of merger. The said plan is now in place as of June 26. So, JSW Vallabh Tinplate and Vardhman Industries have merged with JSW Steel Coated Products, which is a part of JSW Steel, and have stopped existing as of the effective date.

The outsourcing service provider BLS International Services said that the board members of its company, BLS E-Services, have agreed to raise money through an IPO. The planned IPO’s size, price, and other information will be decided at the right time.

City Union Bank: The board of directors has given the company permission to raise another Rs 500 crore through a qualified institutional placement (QIP).

Hardwyn India: On June 29, 2023, the board will meet to talk about and accept the plan to merge with FIBA Hardwyn Locks Limited.

The post Stocks to Watch: Lupin, Vi, Tech Mahindra, Bharti Airtel, Aditya Birla Capital and more appeared first on Business Headline.

The SGX Nifty was mostly flat at 7:30 a.m., when it was quoted at 18,720 levels.

This morning, the markets in Asia and the Pacific were mixed. The Nikkei, Hang Seng, and Strait Times all went up by up to 0.7%, while the S&P/ASX 200, Shanghai Composite, and Shenzhen Component all went down by 0.2% to 0.7%.

On Friday, the Dow was down 0.65%, the S&P 500 was down 0.77%, and the Nasdaq was down 1.1%.

Brent oil went up by 0.4% to $74 per barrel as fears of political unrest grew after the Russian civil war was stopped.

A media story says that the Hinduja Group is talking about investing Rs 10,000 crore to increase its share of IndusInd Bank. The Economic Times said that Hinduja Group is expected to raise its share from 17% to 26%. Most likely, the deal will be done in the second half of FY24.

HDFC Life: The inquiry arm of the Central Board of Indirect Tax and Customs (CBIC) has given HDFC Life Insurance Company a show cause-cum-demand notice for Rs 942,18 crore. This letter is about charges of using the input tax credit incorrectly without providing the services that the credit was supposed to be for.

ICICI Securities: On Thursday, June 29, ICICI Bank’s board of directors will meet to talk about a plan to take ICICI Securities’ equity shares off the stock market.

Ipca Laboratories: The US Food and Drug Administration (US FDA) has given the company’s Pithampur products production plant in Madhya Pradesh a Form 483 with 8 notes. The plant was checked by the USFDA from June 15 to June 23, 2023.

Infosys: The company said it was helping with a review into “tainted contracts” by the Australian government. The big software company has also allegedly cut links with marketing firm Synergy 360, which was paid $16 million over five years to help Infosys grow its business in Australia. Last year, there were reports that former MP Stuart Robert had helped the marketing company and its client get government contracts. This led to a probe.

Aurobindo Pharma: The European Medicines Agency’s (EMA) committee for medical products for human use (CHMP) has agreed to the company’s arm CuraTeQBiologics’ request to pull the EU marketing authorization application for ZEFYLTI and DYRUPEG.

Asian Paints: The company that makes paint bought an extra 11% share in Obgenix Software (also known as “White Teak”) from its founders for Rs 54 crore. The company now owns 60% of White Teak, which is up from 49% before.

Axis Bank: The Reserve Bank of India gave Axis Bank a fine of Rs 30 lakh because it broke credit card rules.

Maharashtra Metro Rail Corporation has given the project of designing and building an elevated metro bridge to Rail Vikas Nigam. The company’s price was the lowest, so they got the job. The project is scheduled to be finished in 30 months and will cost Rs 394.9 crore.

Yes Bank’s board has agreed to borrow or raise up to Rs 2,500 crore in Indian or foreign cash by selling debt securities like non-convertible debentures and bonds, among other things.

Zydus Life: For Rs 106 crore, the company’s arm, Zydus Animal Health And Investments, will buy a 6.5% share in Mylab.

The Aditya Birla Group company Grasim Industries said that the Finance Committee of the Board of Directors has approved the private sale of non-convertible debentures for up to Rs 2,000 crore in one or more tranches.

Avantel: The board of directors has approved a stock split that will turn a single share into five shares with a face value of Rs. 2 each. This will happen if the owners of the company agree.

The company will give Bangalore Metro Rail Corporation Limited Rs 3,045 crore in money for Phase 2 of the metro.

Godrej Properties: The company has bought outright about 15 acres of land in Gurugram, Haryana, in order to build high-end private flats.

Jammu & Kashmir Bank: The Reserve Bank of India (RBI) has fined the bank Rs 2.50 crore for not following certain orders about making a single store for big risks that many banks share.

AU Small Finance Bank: The board will meet on June 29, 2023, to discuss raising money by selling stock shares through private placement, qualified institution placement (QIP), special selection, a mix of these, or any other method.

The post Stocks to Watch: IndusInd Bank, Ipca Lab, Infosys, ICICI Securities, RVNL appeared first on Business Headline.

At 7:35 a.m., it dropped 37 points to 18,871.

Overnight, the US markets fell a little bit around the world after Fed Chair Jerome Powell hinted at more rate hikes until inflation was brought under control. The Dow Jones, the NASDAQ Composite, and the S&P 500 all fell by about 1%.

Asia-Pacific markets, on the other hand, had a mixed start to Thursday. While the Nikkei 225, Topix, and Kospi all went up by up to 0.2%, the S&P 200 went down by 0.6%.

Back home, here are a few stocks to keep an eye on during trade on Thursday:

Reliance Industries: Reports say that the Reserve Bank of India (RBI) gave the oil-to-telecom giant permission to keep $2 billion on top of the $3 billion loan it got in the last financial year. The money will be used to pay for operating capital and help the company grow.

TCS, a big IT services company, signed a 10-year deal worth $1.1 billion with the British pension fund Nest. The company’s management said that the deal would help Nest change the way it does business.

NMDC: The Life Insurance Corporation (LIC) has sold a little over 2% of its shares in the iron ore maker for about Rs 649 crore, lowering its stake in the company to 9.62%. LIC sold more than 6.06 crore shares on the open market at an average price of Rs 107.59 per share.

Vedanta: The company was going to start up its copper plant in Tamil Nadu, but sources say that it is now considering selling the unit for up to Rs 4,500 crore. Last year, the company asked for expressions of interest (EOIs) for the same business but didn’t get many good answers.

Bharti Airtel: The company made a deal to buy 12.07% of the stock shares in Egan Solar Power, which is a special-purpose business that was created to own and run the Captive Power Plant.

India Ratings and Research, a credit rating agency, said that Punjab National Bank’s fixed deposits, AT-1 bonds, and long-term issues are “stable.” This is because Punjab National Bank has the third-largest share of the market for savings and the sixth-largest share of the market for net loans.

LTIMindtree: The company released Canvas.ai, an enterprise-ready creative AI tool that is meant to speed up the concept-to-value process for businesses by using AI concepts. Modernising apps would take 40–50% less time and work with the platform.

India Ratings and Research changed their rating outlook for JK Tyre from negative to stable because of the company’s strong financial and operating success. The ratings agency said that the increase shows that the company’s credit measures have gotten better.

Shyam Metalics: The company said that their industrial plant in Jamuria, West Bengal, is now ready to start making things. The power plant’s output will go from 267 megawatts (MW) to 357 MW, a rise of 90 MW.

Great Eastern Shipping: The credit rating agency CARE Ratings changed the company’s long-term or short-term bank facilities to Triple A with a stable outlook. They also changed the company’s non-convertible debentures from Double A plus to Triple A.

The post Stocks to watch: RIL, TCS, Bharti Airtel, PNB, Vedanta, NMDC, JK Tyre appeared first on Business Headline.

The US markets fell for a second day in a row overnight, with the Dow Jones, the S&P 500, and the NASDAQ Composite all seeing losses of up to 0.7 percent. This led to a general decline in market sentiment throughout the world.

In early trading on Wednesday, the markets throughout Asia and the Pacific followed a pattern that was similar to that seen elsewhere. Up to one percent of losses were seen across the board for the S&P 200, Kospi, Hang Seng, and Shanghai Composite indexes.

In the meantime, here are some of the most important stocks to keep an eye on during trading on Wednesday:

Employees of Coal India will be able to participate in an offer-for-sale (OFS) beginning on Wednesday, June 21, and continuing through Friday, June 23, 2023. At a price of Rs 226.10 per share, the government of India plans to sell up to 92.44 lakh shares of Coal India, which corresponds to a holding of 0.15 percent in the company.

Shriram Finance: Following the sale of a share in Shriram Finance by a prominent private equity firm located in the United States, Piramal Enterprises intends to sell its whole 8.34 percent ownership in the business on Wednesday, June 21, via the use of block transactions.

Lupin: The company’s corporate social responsibility (CSR) arm, the Lupin Human Welfare and Research Foundation, has struck a deal with the government of Maharashtra to treat cardiovascular ailments and chronic obstructive pulmonary disease in Palghar, Maharashtra.

Pidilite Industries: The business has announced the introduction of two state-of-the-art production facilities in Amod, Gujarat. These facilities will be operated under the auspices of its two joint ventures, Pidilite Litokol (PLPL) and Tenax Pidilite (TPPL).

The Competition Commission of India (CCI) has given its approval for HDFC to grow its interest in HDFC Life to more than fifty percent of the company’s total ownership. Previously, the Reserve Bank of India (RBI) had granted permission for HDFC to transfer their shareholdings in HDFC Life.

GR Infraprojects has been given a letter of award (LoA) by the National Highways Authority of India (NHAI) for the four-lane construction of National Highway 530B in Uttar Pradesh (from Kasganj Bypass End to Chandan Nagar) at an estimated cost of Rs 1,085 crore.

The board of directors of IDFC First Bank gave its consent for Madhivanan Balakrishnan to be appointed to the positions of Whole-time Director (Additional Director), ‘Executive Director and Chief Operating Officer,’ and Key Managerial Personnel of the bank for a period of three years, pending the approval of the shareholders. This appointment is subject to shareholder approval.

Som Distilleries has announced that they have achieved an 18.4 percent market share in Odisha as of June 2023. This places them in the position of being the state’s second-biggest business in terms of market share. The company’s goal is to continue growing its presence in the state over the next few years.

Bajaj Consumer Care: The firm has introduced a new product to the domestic market for hair care called Bajaj 100% Pure Henna. This product is targeted at the local market.

Landmark Cars has made public their announcement that they have completed a related party transaction in order to incorporate a wholly owned subsidiary that will be known as “Aeromark Cars.” Although Aeromark Cars has not yet begun operations, the company plans to engage in sales, after-sales service, and associated businesses in the future.

The CMS Information System: The company that managed the Punjab National Bank’s (PNB) automated teller machines (ATMs) had them dispersed across 526 cities and towns in 26 different states. As a result of the successful execution of this mandate, CMS is now PNB’s biggest ATM Managed Services supplier.

Hasmukh Adhia, who is currently serving as the primary adviser to the Chief Minister of Gujarat, has been appointed to the positions of Director and Chairman of Gujarat Mineral Development with immediate effect. At this time, he serves the Bank of Baroda as the non-executive chairman of the board.

Technowire Data Science placed the order and awarded it to Vivanta Industries. It was for the installation, commissioning, integration, training, and support of a content library solution. The total value of the order was 9.2 crore rupees.

The business, Madhav Infra Projects, has been given the letter of approval necessary to begin work on constructing a railway overbridge in the Damoh district of Madhya Pradesh at a cost of Rs 37.7 crore.

The post Stocks to Watch: Coal India, Shriram Finance, HDFC Life, GR Infra, Pidilite and more appeared first on Business Headline.

Overnight, the US markets fell around the world. The Dow Jones, NASDAQ Composite, and S&P 500 all went down by up to 0.6%.

Asia-Pacific, on the other hand, was mostly mixed in early trade on Tuesday.

China’s Shanghai Composite index and Hong Kong’s Hang Seng index fell up to 0.5% after China’s central bank cut key loan rates. Australia’s S&P 200 and Japan’s Nikkei 225, on the other hand, rose up to 0.3%.

Here are the top stocks to keep an eye on on Tuesday:

Adani Transmission: The company’s owners gave the company permission to raise up to Rs 8,500 crore by selling shares to approved institutions. The company would look at both organic and artificial ways to grow.

Interglobe Aviation: The airline operator bought 500 Airbus A320 family planes on the first day of the Paris Airshow. This was Airbus’s biggest sale of a single plane to an airline.

The employee offer-for-sale (OFS) for Coal India will start on June 21 and end on June 23. At a price of Rs 226.10 per share, the government wants to sell up to 92.44 lakh shares, or 0.15 percent, of Coal India to its workers.

HDFC AMC: On Tuesday, June 20, block deals will be used to get rid of all of Abrdn Investment Management’s 10.2% share in the company. The lowest price the company was willing to give was Rs 1,800, which was 5% less than Monday’s ending price of Rs 1,892.

ITC: The group of companies signed binding contracts to buy more shares of Mother Sparsh. Once the company buys the shares, it will own 26.5 percent of Mother Sparsh, up from 22 percent now.

Sun Drug: The drug giant’s wholly-owned company Sun Pharma Canada stated that Health Canada had approved ‘Winlevi’ cream, which is used to treat acne in people 12 years of age or older and would help reduce oil production and redness.

ITI: The state-owned telecom company signed a deal with the Centre for Development of Telematics (C-DOT) and Telecommunications Consultants India Limited (TCIL) to make new goods and services for smart towns.

Tata Power: According to sources, the company wants to double its capital spending to Rs 12,000 crore in the current fiscal year, with a focus on renewables, distribution, transmission, and manufacturing capacity for solar equipment.

HPCL: The company made a deal with Automin Car Services, a unit of Saudi Arabia’s Petromin Corporation, to open HP-Petromin Express car service shops in India.

Zydus Lifesciences: The US health agency gave the drug company’s generic antibiotic Minocycline Hydrochloride extended-release pills the green light. These tablets are used to treat mild to severe acne.

ISGEC Heavy Engineering: Saraswati Sugar Mills, a wholly-owned part of the company, has increased the ethanol plant’s production capacity from 100 kiloliters per day to 160 kiloliters per day.

Royal Orchid Hotels: The company stated that Philip Logan will be its new Chief Operating Officer (COO). He will answer directly to Chairman and MD Chander K. Baljee.

The post Stocks to watch: Adani Transmission, HDFC AMC, ITC, Sun Pharma, Coal India appeared first on Business Headline.

Ramkrishna Forgings, Titagarh Rail Systems

The Indian Ministry of Railways has given a contract to a group made up of Ramkrishna Forgings and Titagarh Rail Systems to make and sell 1.54 million forged wheels over a 20-year period. This is part of the Atma Nirbhar Bharat Initiative. The value of the whole deal is Rs 12,226.5 crore.

HCL Technologies

The board of directors for HCL Technologies will meet on July 12 to talk about, among other things, the payment of the second interim bonus for the financial year 2024.

Wipro

The IT company will no longer be able to buy back Wipro shares after today. The company plans to buy back up to 269,662,921 shares of stock that are worth Rs 445 each. The company also said that it would open a new 5G-Def-i Innovation Centre in Austin, Texas. This centre will offer services to help customers create new goods and services that take advantage of 5G technology.

TVS Motors Company

TVS Motor Company sold its 43.54% stake in Emerald Haven Realty, or 11.12 crore equity shares, to TVS Holdings, a parent group company, for Rs 166.83 crore.

Equitas Small Finance Bank

Equitas Small Finance Bank has set July 28 as the record date for figuring out who can get a reward if the plan is accepted.

Angel One, Power Finance Corporation, and HDFC Life

Today, shares of Angel One, HDFC Life, and Power Finance Corporation will trade without a payout.

BHEL

BHEL and Volvo Eicher Industrial Vehicles signed a memorandum of understanding (MoU) to work together to make type-IV cylinders (hydrogen or CNG) for industrial vehicles.

The post Stocks to watch: BHEL, HCL, Tech, Wipro, TVS Motors, Ramkrishna Forgings, Titagarh Wagons, HDFC Life appeared first on Business Headline.

Chair Jerome Powell has also said that he does not see any rate reductions occurring this year.

The SGX Nifty June futures were quoted at 18,820 at 7:30 in the morning.

In the meantime, the following is a list of the stocks that are anticipated to see some movement during transactions on Thursday.

IT stocks: JP Morgan has continued its bearish position on Indian information technology (IT) services and downgraded the sector to underweight. This is because the financial institution feels that the overall demand environment for the industry currently remains poor. It has put the stocks of Infosys, TCS, and MphasiS on its ‘negative catalyst watch’ list.

Axis Bank: The private equity company Bain Capital, which is located in the United States, is set to sell a 0.7% interest in Axis Bank at a price that falls somewhere between Rs 964 and Rs 977.70 per share. According to information obtained from sources and published by CNBC-TV18 on Wednesday, the value of the share sale would be $267 million.

Hero MotoCorp, a significant player in the two-wheeler industry, recently made an announcement on the debut of its new Xtreme 160R 4V in the luxury motorbike category. The pricing of the new model will begin at Rs 1.27 lakh ex-showroom.

Mahindra & Mahindra (M&M), Ashok Leyland: Investment banking sources informed Business Standard that automobile giants M&M and Ashok Leyland have entered the competition to purchase a large share of MG Motor India. MG Motor India is a wholly-owned affiliate of SAIC Motor, which is based in Shanghai. The JSW company, which is managed by Sajjan Jindal, has previously indicated that it is interested in purchasing up to 48 percent of MG Motor India.

Indian Oil: According to the head of the refiner, Indian Oil (IOC), the business has plans to establish a factory in Haryana that would produce 80,000 metric tonnes of sustainable aviation fuel in partnership with LanzaJet. According to what S. M. Vaidya stated on the sidelines of a business event in New Delhi, the firm is considering making an investment of around 2,300 crore rupees.

Real estate: Following the release of a study by CREDAI, Colliers, and Liases Foras that claimed that house prices in Delhi-NCR surged by 16 percent in the period of January–March due to improved demand and higher construction costs, shares of real estate-related businesses are expected to attract the attention of investors. According to the findings of the study, year-over-year (Y-o-Y) increases in house prices for the top eight cities totaled 8%.

DCW: The firm has told BSE that there has been an unexpected mechanical failure of the CO2 gas compressor at the soda ash plant and that this would result in a decreased output of soda ash by an estimated 6 metric tonnes in the current quarter.

Kesoram Industries, a member of the B.K. Birla group, is working on a plan with two components in order to go back to being profitable within the next 18 months. According to P. Radhakrishnan, Chief Executive Officer (CEO) of Kesoram, the two most important factors in improving the balance sheet are increasing the production of blended cement and refinancing existing debt.

Container Corporation of India (Concor): The Department of Investment and Public Asset Management (DIPAM) may seek the help of an interministerial committee and senior officials from the Finance Ministry in order to facilitate the sale of an interest in the firm. In order to meet its disinvestment goals for the current fiscal year, the government plans to sell a share in the national transporter that is worth Rs 12,000 crore.

REC: On June 24, the board of directors of the firm is gathering to discuss whether or not a proposal for a final dividend should be considered for FY23.

Dhruv Consultancy Services: The company, in addition to Cosmopolitan Consultant and Technical Education Centre and Beam Consultants, has been shortlisted as a “consultant” towards services, more specifically as a Project Implementation Support Consultant (PISC), for the pre-feasibility and feasibility study for the rural connectivity improvement project by the Government of Nepal.

Tega Industries: The firm notified BSE that on June 14, the National Firm Law Tribunal (NCLT) authorised the composite scheme of arrangement between Nihal Fiscal Services, the promoter company of Tega Industries, Marudhar Food & Credit, and MM Group Holdings, all of which are part of the promoter group business. Tega Industries is a component of the promoter group company.

Stocks in F&O Ban: BHEL, Delta Corp., Indiabulls Housing Finance, Indian Energy Exchange (IEX), India Cements, Manappuram Finance, and Zed Entertainment are the seven stocks that are under the F&O ban period on Thursday. Manappuram Finance and Zed Entertainment are also included in this list.

The post Stocks to Watch: Axis Bank, Infy, TCS, IOC, realty, Zee, REC appeared first on Business Headline.

Toyota: an automaker headquartered in Japan, increased by almost 5% when shareholders reelected chairman Akio Toyoda to the board of directors, signalling wide support for the company’s governance as well as its new strategy for electric vehicles.

Logitech International: Following the announcement that Logitech CEO Bracken Darrell would be leaving the firm to pursue other opportunities, shares of the company that makes computer accessories dropped more than 10%. Citi lowered its recommendation for the company from buy to neutral, stating that Logitech has to offer more clarity about its long-term goals with the change in leadership.

Vodafone: Following the announcement that Vodafone and CK Hutchison have reached an agreement to combine their respective operations in the United Kingdom, shares of Vodafone increased by about 3% in premarket trade.

Chipmaker Advanced Micro Devices saw a rise of 3% in premarket trading. On Tuesday, sophisticated Micro Devices said that it would begin delivering certain customers its most sophisticated GPU for artificial intelligence later this year. The company made the announcement. According to a story from Reuters on Wednesday, Amazon Web Services is mulling over whether or not to use the new CPUs.

UnitedHealth: Following remarks made by UnitedHealth Chief Financial Officer John Rex at a conference this week that there have been increasing numbers of nonurgent procedures in the second quarter, shares of UnitedHealth plummeted almost 6% before the market opened. Other managed care businesses, such as Humana and Cigna, also saw declines, with Humana falling 7.5% and Cigna falling 3.6%, respectively.

Lumen Technologies: Following the previous day’s rise of 16% on the announcement of Lumen’s new network interconnection ecosystem in conjunction with Google and Microsoft, the share price increased by around 11%.

Shell: The stock of European oil companies increased by 2.3% after Shell announced an increase in its dividend and share buybacks and said that it will maintain the same level of oil output until 2030.

SoFi Technologies increased by 3.25 percent before the market opened. As payments on student loans get back under way, BTIG has rated SoFi as a top selection in the financial technology industry. The Wall Street firm’s price estimate of $14 suggests an upside potential of more than 46% from Tuesday’s closing price.

The post Stocks making the biggest moves premarket: Toyota, AMD, Shell, UnitedHealth and more appeared first on Business Headline.

The SGX Nifty June futures were quoted at 18,825 at 7:30 a.m.

While that is going on, here are the stocks that are expected to move on Wednesday.

People who know about the situation say that the Adani Group, which is run by Gautam Adani, is in talks with lenders, including global banks, to refinance up to $3.8 billion of a loan facility it took out last year to buy Ambuja Cements.

Power stocks: The National Committee on Transmission (NCT) has given the go-ahead for six power transmission projects worth a record Rs 64,000 crore to connect green energy plants. The jobs are expected to be given to the best bidders this year.

SBI Life: The Security Appellate Tribunal (SAT) has stopped Irdai from transferring Sahara India Life Insurance’s policy responsibilities to SBI Life. Irdai told SBI Life Insurance on June 2 to take over the policy responsibilities of about 200,000 Sahara Life plans because Sahara Life didn’t follow the rules.

The US Food and Drug Administration (USFDA) has given Zydus Lifesciences permission to sell Varenicline pills and Diclofenac sodium/Misoprostol delayed release pills in the US. These medicines are used to treat addiction to smoking and osteoarthritis, respectively.

Top lawyers say that Sony Corporation, which is combining its Indian TV content company with Zed Entertainment Enterprises (ZEEL), is likely to ask for a new forensic audit of the company after Sebi charged Zed founders with diverting funds.

Meanwhile, on Tuesday, the chairman of Essel Group, Subhash Chandra, and the managing director and CEO of ZEEL, Punit Goenka, went to the tribunal to ask for a stay of the interim order that said they couldn’t take key roles in public companies.

KEC International: The RPG Group Company has gotten new orders for its different businesses that add up to Rs 1,373 crore.

Anupam Rasayan: The company has signed a Letter of Intent with a leading Japanese specialty chemical company for $265 million (about Rs 2,186 crore).

RIL, or Reliance Industries: A study by Sanford C. Bernstein said that the company could make between $10 and $15 billion from its new energy business by 2030. However, it will need to make deals or form partnerships to make up for its lack of experience in technology.

Maruti Suzuki, a big name in four-wheeled cars, will release a new MPV called Invicto next month. Shashank Srivastava, the company’s executive head of sales, said on Tuesday that it will be the first private car with a price tag of Rs 20 lakh or more.

HFCL: The Delhi Metro Rail Corporation (DMRC) gave the company that makes phones an order worth Rs 80.92 crore.

Brand Concepts: The company’s board is going to meet on June 16 to talk about a plan to raise money by giving out preferred shares of stock.

The six stocks in the F&O ban on Wednesday are BHEL, Delta Corp., Indiabulls Housing Finance, Indian Energy Exchange (IEX), India Cements, and Manappuram Finance.

The post Stocks to watch: Adani Group, Zee, RIL, Maruti, SBI Life appeared first on Business Headline.

Here are the stock picks for Wednesday:

​ICICI Bank: Buy | CMP: Rs 943.55 | Stop Loss: Rs 937 | Target: Rs 955​

On a daily time frame, the bank has seen selling pressure at higher levels, a pullback up to Rs 932 levels, and then a stabilisation at Rs 942–937 levels. Today’s close is higher than the last four days’ close, and volume backs up the move to the upside. The price is moving above both the fast (21) and slow (50) EMAs, which is a sign of a good trend.

Abbott: Buy | CMP: Rs 22155.70 | Target: Rs 22,880 |Stop Loss: Rs 21,790

Abbott India has broken out of a range on a daily time frame, and the stock has finished above its 5-week close, which shows that people are generally interested in buying the security. The price is moving above both the fast (21) and slow (50) EMAs, which shows a move in the right direction.

Bombay Burmah Trading Corporation: Buy | CMP: Rs 1052.5 | Target: Rs 1220 | Stop Loss: Rs 980​

So far this week, the chart of Bombay Burmah Trading Corporation (BBTC) on a weekly time frame shows a sharp move up. After staying in a narrow band for the past month, the stock price broke out to the upside at Rs 1,000 on Tuesday and is now moving higher.

The stock price is going up now, which is in line with a clear break of a long-term trend line that goes down around Rs 1020. So, a steady move up from here could give the stock price a big boost in the near future. Volume has started to grow, and the 14-week RSI shows a positive trend.

​Prism Johnson: Buy | CMP: Rs 129.50 | Target: Rs 152 | Holding period: 3-5 week| Stop Loss: Rs 121

The weekly picture demonstrates a significant increase in the stock price of Prism Johnson over the previous three weeks. The stock price has broken through the important barrier of a downward-sloping trend line and is now in a correction. This is what has happened so far this week. Based on the chart for the weekly time frame, we see good trends like higher tops and bottoms. In the last few weeks, there has been a sharp move up, and the weekly 14-period RSI has crossed above key upper 60 levels.

Olectra Greentech: Buy near Rs 760-Rs 820 | Target: Rs 1200 | Stop Loss: Rs 700 | Holding period: 8-10 months

After settling in the range of Rs 580–720 odd levels for almost three months, the price went on a strong upswing to break out of the range and hit a 52-week high of Rs 917 levels.

Giving a return of almost 25% from the exit mark of Rs. 720 shows that bulls had control over the price.

Trading volumes were also at their best, which suggests that prices will go up in the short run. The price is currently moving close to its all-time high of Rs. 940, where it could meet resistance. Profit-taking could cause the price to drop to support around Rs 820 or so. After that, there could be a new upswing that leads to new highs around Rs 1050–1200.

The stochastic oscillator is also going up, and the volume is going up, both of which point to a move up with little risk of going down.

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