Stocks to Watch: eMudhra, REC, Voda Idea, TVS Motor, HUL, Delhivery, YES Bk

Stocks to Watch Today: ICICI Bank and Axis Bank too will be in focus as global rating agency Moody's has upgraded the two private bank's baseline credit assessments (BCA) and deposit ratings to "baa3"

Stocks to Watch Today: The markets are likely to open on a subdued note amid dampened cues from the global peers. As of 07:30 AM, the SGX Nifty futures quoted at 15,261, indicating a marginal loss of 30-odd points at the opening bell on Monday.

Meanwhile, here are the stocks that are likely to see some action in trades today.

eMudhra: The recently listed company has reported a strong 62.2 per cent surge in profit for the financial year ended March 2022 at Rs 41.14 crore when compared with Rs 25.36 crore in FY21. Total income was up 38.7 per cent at Rs 183.74 crore from Rs 132.45 crore. 

Vodafone Idea (Voda Idea): The company’s board is scheduled to meet on June 22 to consider a proposal to raise up to Rs 500 crore by way of issue of equity shares or convertible warrants on preferential basis to one or more entities of Vodafone Group.

REC: The company has scheduled its board meet on June 30 to consider a proposal for bonus issue of equity shares. 

AU Small Finance Bank (SFB): The bank issued a clarification to the exchanges with regards a CDSL & NSDL disclosure in the banks’ foreign shareholding. According to the CDSL & NSDL disclosure they stated that foreign shareholding had reached within 3 per cent of the sectoral cap. The bank however has clarified that foreign shareholding was around 38 per cent as of June 17, 2022, well within the sectoral cap of 49 per cent for private sector banks.

YES Bank: The debt-ridden private lender’s plan to sell Rs 12,000 crore worth bad loans to ARC faces delay as the RBI wants the bank to avoid any conflict of interest with the ARC as YES Bank plans to hold a minority stake in the same ARC. READ MORE 

Meanwhile, the Bombay High Court has rejected an interim application filed by a promoter group entity of Dish TV seeking to restrain YES Bank, a shareholder of the company, from exercising its right over shares held by the bank.

HDFC Life Insurance Company: The private insurer plans to raise debt capital of up to Rs 350 crore by issuing bonds on a private placement basis.  The company said the bonds will carry coupon rate of 8.20 per cent per annum.

Delhivery: The logistics provider has launched its guaranteed same-day delivery (SDD) service in 15 Indian cities, seeking to help brands in winning customer loyalty. The company expects the service to improve consumer experience and reduce return rates, improving brands’ margins. READ MORE

Hindustan Unilever (HUL): According to a release issued by the company, the Bombay High Court (HC) has passed an injunction restraining Sebamed from airing its advertisements that compared the pH value of its soap to that of HUL’s Dove, Pears and Lux.

TVS Motor: Norton Motorcycles, the iconic British motorcycle maker, now owned by TVS Motor, plans to develop and build an electric motorcycle in the UK that it claims will have “racing performance, touring range and lightweight handling” as part of a 30-month project co-funded by a government program.

ICICI Bank, Axis Bank: Global rating agency Moody’s has upgraded ICICI Bank and Axis Bank’s baseline credit assessments (BCA) to “baa3” indicating medium grade financial strength from “ba1” indicating speculative financial strength. The upgrade in BCA reflects improvements in credit fundamentals - asset quality, capital, and profitability. Moody’s also affirmed the Baa3 deposit ratings of both Indian private sector lenders. READ MORE

Indo Wind Energy: The company reported a net loss of Rs 1.03 crore for the quarter ended March 2022 as against a net profit of Rs 0.53 crore in the corresponding quarter a year ago. Total income, however, grew 33.3 per cent to Rs 4.48 crore from Rs 3.36 crore.

Dilip Buildcon: The company’s joint venture company RBL-DBL has won a Rs 1,061 crore order in Gujarat for the Surat Metro Rail Project. The company has also received the completion certificate for two road projects in Karnataka.

Alken Laboratories: The company has received Form 483 from the US FDA with three observations on inspection of its US unit. 

Indian Hume Pipe Company: The company has won a Rs 110 crore order the Public Health Engineering Department of Rajasthan for various operation and maintenance work for 10 years. 

Engineers India: The company has secured multiple orders worth Rs 80 crore from the specialized chemicals, sunrise and infrastructure sectors.

Stocks in F&O ban: Delta Corp, Indiabulls Housing Finance and RBL Bank are the three stocks in F&O ban period on Monday.