Stocks to Watch, June 11: IndiGo, Siemens India, PTC Industries, APL Apollo

Stocks to Watch, Tuesday, June 11, 2024: Indian markets may continue to consolidate on Tuesday amid lack of decisive triggers. At 7:43 AM, GIFT Nifty was up 29 points at 23,276 levels.

Globally, Japan's Nikkei was up 0.28 per cent, while South Korea's Kospi gained 0.55 per cent. ASX, and han Seng, howeve, fell up to 1.8 per cent.

Overnight, the S&P 500 gained 0.26 per cent, the Dow Jones Industrial Average added 0.18 per cent, and the Nasdaq Composite edged 0.35 per cent higher ahead of the US Federal Reserve's interest rate decision on June 12. 

Here's a list of stocks to watch on Tuesday, June 11:

InterGlobe Aviation: Rahul Bhatia's promoter entity, InterGlobe Enterprises, is expected to off load around 2 per cent stake in the company through a block deal on Tuesday, reports said. The stake sale value may be worth around $394 million, where the promoter could sell 7.7 million shares at a likely floor price of Rs 4,266 apiece.

RVNL, Siemens India: The consortium of Siemens-RVNL has received a Letter of Acceptance (LoA) from Bangalore Metro Rail Corporation Ltd. for engineering, supply, erection, testing and, commissioning of 33 KV Distribution, 750V DC Third Rail Traction Electrification including Traction Substations, Auxiliary Substations and SCADA System for Phase-2A & Phase 2 B.The project is worth Rs 394.2 crore.

PTC Industries: The company has partnerd with leading entities under the DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative.

APL Apollo Tubes: BluPine Energy has signed a Power Purchase Agreement (PPA) with APL Apollo Building Products to set up a 61.65 megawatt (Mw) solar plant in Chhattisgarh.

APL Apollo Building Products is a subsidiary of APL Apollo Tubes. APL Apollo, along with other off-takers, will hold a 26 per cent stake under the group captive structure in the special purpose vehilce (SPV) of BluPine Energy for this project.

NLC India: The Board of Directors, at their meeting held on Monday, June 10, 2024, approved to raise foreign currency loan through External Commercial Borrowings (ECB) in any foreign currency to the extent of $600 million through Direct route.

Besides, the Board okayed to issue of Corporate Guarantee or Letter of Comfort to NLC India Green Energy Limited, a wholly-owned subsidiary, and Neyveli Uttar Pradesh Power Limited, a material-subsidiary of the company, based on the requirement.

It also gave in-principle approval to invest up to Rs 994.50 crore, in one or more tranches, in NLC India Renewables Limited, a wholly-owned subsidiary of the company.

KIOCL: The company informed via an exchange filing that the operation of Pellet Plant Unit of the company, situated at Mangalore, has suspended production due to the ongoing downward trend in pellet market condition.