Stocks to Watch: Banks, Lupin, YES Bank, CG Electricals, Ujjivan SFB, Sugar

Stocks to Watch Today: Sugar industry has requested the government that the additional 1 MT export order be given the mills, and not trader or exporters.

Stocks to Watch Today: The BSE Sensex and the NSE Nifty are likely to extend losses in the opening trades tracking the losses in global peers. As of 07:15 AM, the SGX Nifty futures quoted at 16,263, indicating an opening loss of 90-odd points.

Going ahead, the two successive rate hikes by the Reserve Bank of India (RBI), including the 50-basis-point (bp) increase announced on Wednesday, and the resulting reversal in the interest rate cycle could hit corporate profitability in the coming quarters. READ MORE

Meanwhile, these are the stocks that are likely to see some action in trades on Thursday.

Banks: Among other key policy measures announced on Wednesday, the RBI allowed linking of credit cards to Unified Payments Interface (UPI), which so far was being used as a ‘pay now’ facility, wherein money was debited from a customer’s bank account directly for any transaction. READ MORE

Bank of India: The bank has raised its repo-based linked rate to 7.75 per cent from earlier 7.25 per cent.

Lupin: The drug maker informed BSE, that the company received a tentative approval from the US health regulator to market Ivacaftor tablets, used to treat cystic fibrosis, in America. The product is the generic equivalent of Vertex Pharmaceuticals' Kalydeco tablets.

Tata Elxsi: The company has opened a new technology development centre in Kozhikode, Kerala. The new centre will host teams and state-of-the-art technology and product development facilities in EV, Connected Car, OTT, 5G, and Digital technologies.

YES Bank: The bank’s Board has recommended formation of an alternate Board on the back of the private sector bank attaining turnaround and achieving significant progress post the implementation of Reconstruction Scheme March 2020. SBI one of the largest shareholders has proposed Prashant Kumar’s name for MD & CEO's position for a three-year term. READ MORE

Sugar: The industry has requested the government that the additional 1 MT of sugar export order should be given to sugar mills only, instead of giving it to the traders or exporters, so that sugar mills can fulfill their export commitments in the current season. 

Crompton Greaves Consumer Electricals (CG Electricals): The company’s board is scheduled to meet on June 13 to consider a proposal to raise funds up to Rs 925 crore by way of issue of shares on a private placement basis.

Ujjivan Small Finance Bank (Ujjivan SFB): The bank’s board has approved a proposal to raise up to Rs 1,500 crore by way of issue of non-convertible debt securities in one or more tranches within the next one year.

TCI Developers: The company’s board is scheduled to meet on June 13 to consider the proposal for delisting the shares, and also to fix the floor price and indicative offer price for the same.

Reliance Capital: The Committee of Creditors (CoC) of the company are likely to further extend the resolution plan submission date to August 10 after potential bidders sought additional time.

Hardwyn India: The company’s board will meet on June 13 to consider a proposal for bonus issue of equity shares.

TTI Enterprises: The company’s board to meet on June 28 to consider a proposal for stock split among other business activities.

Stocks in F&O ban: Delta Corporation is the only stock in F&O ban period on Thursday.