Stocks to Watch: SBI, IndiGo, Titan, Maruti Suzuki, HUL, SpiceJet, SBI Card, and Others

Stocks to Watch June 6: The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,708, down 17 points or 0.09% from the previous close.

IndiGo: IndiGo aims to carry 100 million passengers in the year ending March 2024, as the carrier adds more domestic and international routes, its CEO Pieter Elbers said.

Adani Group: In a Credit Note released on Monday, Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate’s listed firms and also another $700 million in loans taken for the acquisition of Ambuja Cement.

State Bank of India: The Board will meet on June 9 to consider and approve raising funds during FY24 through Private Placement mode by way of issuance of debt instruments (including capital instruments) in rupee and/or foreign currency.

Bharat Forge: A majority of institutional shareholders (53.51 per cent) of Bharat Forge last week voted against a resolution to approve reappointing of B N (Baba) Kalyani as the company’s managing director.

Titan: According to reports, differences have emerged between the Tata Group and the founders of CaratLane over the valuation of the residual stake held by the founders, leading to a months-long deadlock.

Maruti Suzuki: India’s biggest domestic car manufacturer has set up two new solar plants at Rohtak and Manesar to push its renewable energy plan.

SBI Card: The Board of Directors has approved raising of funds by way of issuance of Non-Convertible Debentures (NCDs) aggregating to Rs 3,000 crore in one or more tranches, on a private placement basis.

Godrej Consumer Products: The company has appointed Aasif Malbari as the chief financial officer (CFO) with effect from August 10, 2023. Malbari will replace Sameer Shah, who will move to a Group role in consumer investment space.

Hindustan Unilever: The fast-moving consumer goods player Hindustan Unilever (HUL), in an interview to a TV channel, said that it will soon cut prices of soaps, detergents, and shampoos over the next few weeks.

Separately, the HUL CFO Ritesh Tiwari has also said that the company is betting on the growth opportunity in the ‘masstige’ beauty segment and is eyeing acquisitions in the space.

SpiceJet: According to reports, NCLT has deferred hearing the insolvency case against the airline to June 8. Besides, real Estate company Acres Buildwell Private Limited has filed an application in the National Company Law Tribunal to withdraw its insolvency plea against the low-cost airline.

JK Cement: The Board of Directors has accorded in-principle approval to sign/execute a Share Purchase Agreement (SPA) with the shareholders and also with Toshali Cements Private Limited for acquisition of 100 per cent equity shareholding from all the existing shareholders of Toshali.

Nelco: The Company has entered into the agreement(s) with the promoters and other shareholders of Piscis Networks Private Limited for an initial investment of Rs 99.99 lakh, to purchase 9.09 per cent of the paid-up capital of Piscis Networks. The company will also make further investment to increase its shareholding up to alteast 30 per cent of the paid-up capital of Piscis Networks.

Tata Power: Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has commissioned a 110 MW solar power project in Bikaner, Rajasthan. The project is expected to generate approximately 211 MUs (million units) and reduce a 2,58,257 MT (metric tonne) carbon footprint annually.

Suzlon: Suzlon becomes first Indian wind energy company to reach 20 GW of worldwide Wind Energy installations through 12,467 wind turbines installed across 17 countries spanning six continents.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.