Stocks to watch: M&M, IDBI Bank, Dhanlaxmi Bank, Adani Green, RBL Bank

Stocks to watch today: Dhanlaxmi bank saw no outcome or resolution in their EGM meeting; Media stocks are expected to hog limelight ahead of day 2 of IPL's media rights auction.

Stocks to watch today: The Indian equity markets are likely to see a big gap-down opening on Monday, June 13, after US inflation surged to a new 40-year high of 8.6 per cent in May, adding pressure on the US Federal Reserve to unleash further rate hikes. As of 7:15 AM, the SGX Nifty Futures quoted 15,887 levels, signaling a cut of over 300-odd points on the Nifty50. 
 

Meanwhile, here is a list of stocks that are likely to see some action in trade on Monday:
 

Defence stocks: The Indian Air Force plans to acquire 114 fighter jets of which 96 would be built in India and rest 18 would be imported from a foreign vendor chosen for the project, giving impetus to India’s ‘Make in India’ initiative. READ MORE HERE

Mahindra & Mahindra: The company will set up their first greenfield project in Mohali near Punjab. The expansion is a first after a decade by the world's largest tractor maker, on the back of strong domestic demand.

IDBI Bank: According to reports, the Reserve Bank of India (RBI) is unlikely to grant any special dispensation to the new buyer of IDBI Bank over the post-acquisition glide path for reducing promoter shareholding in the long term. Besides this, the request to remove the voting rights cap for promoters at 26 per cent was also declined by the RBI. READ MORE HERE
 

Media stocks hog limelight: After four firms namely Viacom18, Disney Star, Zee, and Sony were shortlisted to bid media rights auction for the Indian Premier League (IPL) from 2023 to 2027, the day one of auction saw bids hike up to Rs 43,000 crore for both television and digital. The winners of the IPL media rights will be announced Monday, June 13 after the entire bidding process is complete.

Vedanta: The company has planned to modify design of one of its waste heat recovery power plants in Goa and re-optimize its turbines through the use of a specialized technology, in order to increase power generation by another 5 megawatt (MW). This is in line with Vedanta's efforts towards reducing the carbon footprint. READ MORE HERE
 

Dhanlaxmi Bank: The Thrissur-based bank saw a subdued extraordinary general meeting (EGM) on Sunday, June 12, after a group of minority shareholders called the meet due to shared disappointment with the working of the bank and its financials. The meeting discussed all issues raised by a group of 11 minority shareholders, including rising expenses, low capital adequacy, and overall financial performance of the bank. However, there was no resolution or outcome at the meeting. READ MORE

Maruti Suzuki: The country's largest has shipped 2.33 lakh units through Railways last fiscal, its highest ever dispatch in a financial year so far, since commencing the initiative eight years ago. In 2021-2022, the company's dispatch was 23 per cent up from 1.89 lakh units it transported using Railways, from a year ago. 

Adani Green Energy: The Rajasthan government has allotted 2,397.54 hectares of government land in Bandha village of Jaisalmer district to Adani Renewable Energy Holding Four Limited, in order to set up 1,000 MW solar power project. With this, the state aims to increase electricity generation through the set up of solar energy based production units.
 

RBL Bank: The RBI has approved R Subramaniakumar’s appointment as the MD & CEO of RBL Bank. Subramaniakumar has been appointed at RBL for three years from the date of taking charge.
 

Coal India: The state-run company will get 6 million tonnes (MTS) more coal from abroad, issuing medium-term tenders for supplies after there was a shortfall in domestic supply chain for power generating companies. The bids are for 5,000 gar (gross as received) quality of thermal grade coal, while the estimated value of work is pegged at Rs 3,850 billion for each tranche of 3 MTS. 
 

Stocks in F&O ban: Delta Corporation is the only stock banned in F&O ban period on Monday, June 13.