Wipro, Tata Elxsi, Yes Bank, PNB, Lupin, Tata Power, Rail Vikas Nigam stocks in focus on F&O expiry

Indian equity markets are likely to extend losses on Thursday, tracking the losses in global peers. The SGX Nifty hinted at gap-down start for BSE Sensex, NSE Nifty 50 as Nifty futures on the Singapore Exchange traded 51.5 points, or 0.32 per cent, lower at 16,297.50.

stocks to watch, stocks in focus, banking stocks, rbi repo rate
Wipro, Lupin, Tata Elxsi, Yes Bank, PNB, Tata Power, Rail Vikas Nigam stocks in focus today

Indian equity markets are likely to extend losses on Thursday, a day of weekly F&O expiry, tracking the losses in global peers. The SGX Nifty hinted at gap-down start for BSE Sensex, NSE Nifty 50 as Nifty futures on the Singapore Exchange traded 51.5 points, or 0.32 per cent, lower at 16,297.50. In the previous session, market continued with range bound movement as the RBI event was on expected lines. “We expect market to remain lacklustre as macro headwinds continue with selling pressure emerging at higher levels. With RBI policy now behind, markets will take cues for global events. Investors will keep eye on ECB policy meet, macro data points like US inflation, China inflation and UK GDP data due later this week,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

Stocks in focus on 9 June, Thursday

Wipro: The IT services company and ServiceNow will help Petrobras, the largest publicly traded company in Brazil, to advance its digital journey. The project aims to raise the level of service for internal users and reduce costs by modernizing and aligning IT infrastructure processes with the business through a modern cloud solution focused on automation and integration.

Lupin: The drug maker informed BSE, that the company received a tentative approval from the US health regulator to market Ivacaftor tablets, used to treat cystic fibrosis, in America. The product is the generic equivalent of Vertex Pharmaceuticals’ Kalydeco tablets.

Tata Elxsi: The company has opened a new technology development centre in Kozhikode, Kerala. The new centre will host teams and state-of-the-art technology and product development facilities in EV, Connected Car, OTT, 5G, and Digital technologies.

Yes Bank: The bank’s Board has recommended formation of an alternate Board on the back of the private sector bank attaining turnaround and achieving significant progress post the implementation of Reconstruction Scheme March 2020. SBI one of the largest shareholders has proposed Prashant Kumar’s name for MD & CEO’s position for a three-year term.

Tata Power Company: Subsidiary Tata Power Solar has commissioned an EPC project of 450 MWDC for Brookfield Renewable India in Rajasthan. The company has set up of over 8 lakh modules and completed within record 7 months timeframe. The project will produce over 800GWh of clean energy annually and will help avoid up to 600,000 tons of annual CO2 emissions.

Bank of India: The public sector bank has changed its repo based lending rate to 7.75 per cent with immediate effect, from 7.25 per cent earlier. The revision is on account of an upward revision in repo rate announced by the RBI on June 8 in its monetary policy.

Punjab National Bank: The state-run lender has revised its repo linked lending rate to 7.40 per cent from June 9, from 6.90 per cent earlier. The bank has taken this decision after the RBI hiked repo rate.

Rail Vikas Nigam: Rail Vikas Nigam has entered into an agreement with “Kyrgyzindustry” for execution of infrastructure projects in Kyrgyz Republic. Particularly the company is going to execute the railway line network on mutually agreed terms and conditions in the Kyrgyz Republic.

Crompton Greaves Consumer Electricals: Crompton Greaves Consumer Electricals Board of Directors on June 13 will consider a proposal to raise funds by way of issuance of debt securities on private placement basis up to Rs 925 crore.

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