Stocks to Watch today, June 6: Adani Group, SBI, Maruti, HUL, Sejal Glass

Top Stocks to Watch on June 6, 2023: 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

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Illustration: Ajay Mohanty

Nikita Vashisht New Delhi

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Stocks to Watch on Tuesday, June 6, 2023: Equity markets may exhibit yet another volatile session on Tuesday as global cues remain subdued, while the Reserve Bank of India (RBI) begins its three-day monetary policy meeting. At 7:45 AM, SGX Nifty was at 18,707, down 18 points.

Elsewhere in Asia, Australia's S&P/ASX 200 was 0.67 per cent down ahead of the country's central bank rate decision. 

Japan's Nikkei, however, was up 0.18 per cent, while South Korea's markets are closed for a holiday.

Overnight, the S&P 500 lost 0.2 per cent, while the Nasdaq Composite dipped 0.09 per cent and the Dow Jones Industrial Average dropped 0.59 per cent.

Here's a list of stocks that will be in focus today:

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.

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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.

BL Kashyap and Sons: BL Kashyap and Sons has secured new order aggregating to Rs 147 crore. The total order book as on date stands at Rs 2,774 crore (excluding GST) till date.

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. 

Sejal Glass: The Board of Directors of the Company has decided to withdraw the QIP offer, worth Rs 35 crore, due to current market situation.

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.

GE T&D India: The company has received shareholders' approval to appoint Sandeep Zanzaria as Managing Director and Chief Executive Officer of the company.

Indian Energy Exchange: The total trade volume of the Indian Energy Exchange grew by 8 per cent year-on-year to 8,251 million units (MU) in May. The average spot power price during May 2023 was 30 per cent lower at ₹4.74 per unit against ₹6.76 per unit in May 2022.

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. 

First Published: Jun 6 2023 | 8:09 AM IST

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