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Stocks to Watch, June 13: L&T Finance, PNB Housing, 360 One WAM, Bondada

Stocks to Watch, Thursday, June 13, 2024: According to reports, investment firm Bain Capital and BNP Paribas will likely sell shares worth Rs 1,500 crore of L&T Finance, through block deals today


Nikita Vashisht New Delhi

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Stocks to Watch, Thursday, June 13: Global markets were seen holding gains in Thursday's early session after the US Federal Reserve kept interest rates steady at 5.25-5.5 per cent overnight. It, however, revised its outlook for rate cuts to just one in 2024, citing "moderate progress in inflation".

On Wall Street, Dow Jones slipped 0.09 per cent, but S&P500 rallied 0.85 per cent, and Nasdaq Composite added 1.5 per cent as the Fed's the dot plot indicated a more aggressive cutting path for 2025 — four rate cuts totaling a full percentage point, up from three.

In Asia, this morning, South Korea's Kospi was up 1.45 per cent, Hong Kong;s Hang Seng 0.86 per cent, Australia's ASX200 0.58 per cent, and Japan's Nikkei 0.07 per cent.

At 7:50 AM, GIFT Nifty was up 98 points ta 23,453 levels.

Here is a list of stocks to watch on Thursday: 

L&T Finance: According to reports, investment firm Bain Capital and BNP Paribas will likely sell shares worth $180 million (Rs 1,500 crore) of L&T Finance, through block deals, on Thursday. 

Two entities of Bain Capital — BC Asia Growth Investments and BC Investments VI — along with BNP Paribas Financial Markets, will together sell a 3.54 per cent stake (88.2 million shares) today, the report added.

360 One WAM: 360 ONE WAM has informed the stock exchanges that it has entered into a definitive agreement to acquire ET MONEY.

360 ONE WAM expects the acquisition to create significant synergies between 360 ONE and ET MONEY, leveraging their combined product offerings, domain expertise, portfolio advisory solutions, brokerage services, and credit solutions. 

PNB Housing Finance: The Board of Directors of the company will meet on June 18, 2024 to consider and approve fund raising by issuance of non-convertible debentures (NCDs) aggregating up to Rs 10,000 crore on private placement basis. 

Whirlpool of India: Appliance maker Whirlpool of India and Hindustan Unilever Ltd have announced a new marketing alliance for Surf Excel, the laundry brand of the FMCG player. As per the alliance, both brands will have joint marketing initiative.

Tata Power: Tata Power Renewable Energy Limited (TPREL), a subsidiary of the company, has deployed over 850 charging points in key metropolitan areas, including  Delhi, Mumbai, Ahmedabad, Bengaluru, Jammu, Srinagar, Dharwad, Lucknow, and Goa.

Saksoft: The company has executed a Share Purchase Agreement to acquire 100 per cent equity interest in Augmento Labs Private Limited. Augmento Labs will become a wholly-owned subsidiary of the company on closure of the transaction. 

The total cash consideration for the deal is up to Rs 100 crore with an upfront cash consideration of Rs 35 crore, and the balance as earnout consideration based on performance over two financial years.

Bondada Engineering: Bondada Engineering Limited has received a Letter of Award from NLC India Limited for Balance of System (BOS) work for setting up 600MW Grid Connected Solar Power Project, including the O&M for three years. The project is worth Rs. 939.39 crore. 

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First Published: Jun 13 2024 | 8:04 AM IST

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