Sign in Subscribe
Banks (Finance)

Stocks to Watch on June 09: Key Developments Across Top Indian Companies

Strategic Insights

— 2 min read

Indian stock markets are likely to start the day on a positive note, as indicated by the GIFT Nifty. Various top stocks are expected to make headlines in Monday's trade, including updates on their performance and recent developments. The previous day's session saw the NSE Nifty 50 close 252 points higher at 25,003, while the BSE Sensex rose 747 points to 82,189.

Key Takeaways:

  • Reliance Infrastructure is poised to 'turbocharge' its defense vertical over the next few years, focusing on aircraft upgrade programs, with a potential opportunity of Rs 5,000 crore in the next seven to ten years.
  • HDFC Bank's Managing Director and CEO, Sashidhar Jagdishan, has been named in a complaint alleging he received Rs 2.05 crore to harass a trustee's father, but HDFC Bank has denied the charges as baseless.
  • LIC Managing Director Sat Pal Bhanoo has been appointed as CEO and MD for three months, following the completion of Siddhartha Mohanty's tenure at the helm.
  • Infosys has been cleared of GST proceedings involving Rs 32,403 crore related to the financial years 2018-19 to 2021-22.
  • Tata Steel's UK export to the US may face disruption due to technicalities in the UK-US steel trade agreement, with an estimated £150 million annual trade at risk.
  • Aditya Birla Group's Indian paints venture has filed an antitrust complaint against Asian Paints for allegedly abusing its market position.
  • Suzlon Energy may see a massive block deal with promoters selling around 20 crore shares for Rs 1,300 crore.
  • Lupin has received tentative approval from the USFDA for its Abbreviated New Drug Application for Oxcarbazepine ER Tablets.
  • Nazara Technologies has completed the acquisition of Smaaash Entertainment Pvt. Ltd. for Rs 126 crore.
  • MCX has received Sebi's nod to launch electricity derivatives, marking a significant milestone in India's energy trading landscape.

Statistics:

  • Rs 5,000 crore: Estimated opportunity for Reliance Infrastructure in its defense vertical over the next seven to ten years.
  • Rs 2.05 crore: Alleged amount received by HDFC Bank's Managing Director and CEO Sashidhar Jagdishan, according to a complaint.
  • Rs 32,403 crore: GST amount involved in Infosys's cleared proceedings.
  • £150 million: Estimated annual trade at risk for Tata Steel's UK export to the US due to technicalities in the UK-US steel trade agreement.
  • Rs 1,300 crore: Estimated value of Suzlon Energy's block deal with promoters selling around 20 crore shares.
  • 20 crore shares: Number of shares expected to be sold by Suzlon Energy's promoters in the block deal.
  • Rs 126 crore: Amount paid by Nazara Technologies for acquiring Smaaash Entertainment Pvt. Ltd.
  • 150 mg, 300 mg, and 600 mg: Strengths of Oxcarbazepine ER Tablets for which Lupin has received tentative approval from the USFDA.

Sources:

  • Reliance Infrastructure: The company's announcement
  • HDFC Bank: The company's statement denying the allegations
  • LIC: The Ministry of Finance's letter appointing Sat Pal Bhanoo as CEO and MD
  • Infosys: The company's statutory filing
  • Tata Steel: The company's announcement on transitioning its Port Talbot plant
  • Aditya Birla Group: Reuters report citing three sources
  • Suzlon Energy: Update from the company's Q4FY25 results
  • Lupin: USFDA's tentative approval announcement
  • Nazara Technologies: Company announcement on acquiring Smaaash Entertainment Pvt. Ltd.
  • MCX: Exchange filing on receiving Sebi's nod to launch electricity derivatives

Read more