Stocks to watch: Adani Enterprises, Dish TV, Infosys, Hindustan Copper

Stocks to watch today: After the Indian equity markets closed on a positive note last week, they are likely to extend gains on Monday, June 27. As of 7:12 AM, the SGX Nifty Futures quoted 15,870 levels, indicating an upside of 171-odd points on the Nifty50. From a global standpoint, markets have turned cheerful too, as major indexes on the Wall Street closed above 2 per cent last week, whereas, Asia-Pacific markets saw Kospi and Nikkei 225 gain 1.6 per cent and 0.8 per cent, respectively, on Monday morning.

Later this week, investors will watch out the US quarterly GDP data due on Wednesday, June 29. Besides that, the performance of auto stocks will be tracked too, as monthly sales figures release on Friday, July 1.

Meanwhile, here is a list of stocks that will see some action in trade on Monday:

Adani Enterprises: The company’s subsidiary Kutch Copper has raised Rs 6,071 crore to set up a greenfield copper refinery project to produce one million tonnes per annum (MTPA) in two phases. The first phase will have a capacity of 0.5 MTPA at Mundra, Gujarat. READ MORE

Dish TV: Yes Bank and promoters of Dish TV are likely to move their legal battle to the Supreme Court to appeal against the Bombay High Court order that led to loss of the top management positions in the company. Though the bank is looking to sell around 24.7 per cent stake in the company, the acquirer wants to buy the stake without any legal issues. READ MORE

Indian Overseas Bank: The state-run bank is likely to boost advances in retail, MSMEs, corporate, and agricultural loans during this year. That apart, the bank assured that the asset quality of public sector banks (PSBs) are on an improving trend despite some classified as restructured loans under pandemic permitted RBI schemes. READ MORE

Infosys: Chairman of the IT services company, Nandan Nilekani said that Infosys gave a capital return of over Rs 4,100 crore in 2021-22 and made a share buyback of more than Rs 11,000 crore. The board also recommended final dividend of Rs 16 per share along with an interim of Rs 15 per share, that amounts to Rs 31 per share in FY22. READ MORE

Hindustan Copper: The state-owned company will meet on Thursday, June 30, to consider proposal fund raise of up to Rs 500 crore via debentures. The board will also consider raising funds through qualified institutional placement method. READ MORE

Future Enterprises: The company defaulted on interest payment of Rs 4.10 crore for its non-convertible debentures. With this, the Kishore Biyani-led Future group firm has now defaulted for the fourth time in June. Earlier this week, the company defaulted twice on interest payments of Rs 85.71 lakh and Rs 6.07 crore for its non-convertible debentures. READ MORE

HPCL: Oil and Natural Gas Corporation (ONGC) has appointed Pankaj Kumar, director (offshore), ONGC as director on board of Hindustan Petroleum Corporation. ONGC had no representative on the board of HPCL for more than five months – a company in which it owns 51.11 per cent stake since January 2018.

Biocon: According to reports, the pharma company has engaged an external law firm to review its governance process that involves consultants as well as vendors. This moves follows as CBI named five persons for allegedly offering bribe to waive phase-3 clinical trials at Biocon Biologics.

Stocks in F&O ban: Delta Corporation, India Bulls Housing Finance, RBL Bank, and Sun TV are stocks banned in the F&O ban period on Monday, June 27.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor