Stocks to watch: Infosys, RBL Bank, HDFC Bank, Zomato, Sobha, L&T

Stocks to watch today: RBL Bank approved fund raise of up to Rs 3,000 crore to fund the lender's business growth; HDFC Bank plans to raise funds worth Rs 2,500 crore through issuance of Tier-1 bonds.

Stocks to watch today: A choppy start is on cards for markets on Tuesday as investors fret over aggressive monetary tightening ahead of the Jackson Hole symposium on Friday. As of 7:25 am, the SGX Nifty Futures quoted 17,419 levels, down over 50-odd points on the Nifty50.
 

Globally, the US markets witnessed a free-fall on Monday as investors dumped growth stocks amid rate hike fears. Dow Jones slipped 1.9 per cent, while the S&P 500 and NASDAQ Composite declined 2.1 per cent and 2.5 per cent, respectively.
 

Following the Wall Street’s dull cues, Asia-Pacific markets slipped in early trade on Tuesday. Nikkei 225, Hang Seng index, South Korea’s Kospi fell up to 1.2 per cent.
 

Meanwhile, back home, here are few stocks that are likely to see some action in trade on Tuesday:
 

Infosys: The Indian IT services company scaled back average variable payout of employees to around 70 per cent for the June quarter amid margin squeeze and high employee costs. Earlier, Wipro and Tata Consultancy Services held back variable pay of employees due to pressure on margins. In the June quarter of this fiscal, Infosys operating margins were about 20 per cent. READ MORE

RBL Bank: The board approved fund raises of up to Rs 3,000 crore to fund the lender’s business growth. Besides, RBL Bank approved issuance of 1.75 crore additional equity stock options exercisable into equivalent number of equity shares fully paid up of Rs 10 each. That apart, the bank’s board also cleared appointment of two independent directors. READ MORE

LIC Housing Finance: Mortgage lenders LIC Housing Finance and Bajaj Housing Finance hiked lending rates to 0.5 per cent. The revisions come post the Reserve Bank of India hiked interest rates to 1.4 per cent since May in order to battle high inflation. The new interest on home loans for LIC Housing Finance will start at 8 per cent now instead of 7.5 per cent. READ MORE

Zomato: The food delivery firm plans to discontinue their ‘Pro’ and ‘Pro Plus’ programmes for its consumers. The Gurugram-based firm is now closely working with its customers and restaurant partners to craft a new programme. The development comes at a time when Zomato acquired Blinkit for Rs 4,447 crore in an all-stock deal. READ MORE

HDFC Bank, Canara Bank: The private sector lender plans to raise funds worth around Rs 2,500 crore through the issuance of Tier-1 bonds in order to fund robust credit growth. According to reports, HDFC Bank’s Tier-1 bonds could be priced around 7.9-7.95 per cent.
 

That apart, Canara Bank is also likely to raise funds worth around Rs 1,000 crore through the issuance of Tier-2 bonds on Thursday, August 25. The bond issuance is likely to have a green-shoe option of Rs 1,000 crore, a tenor of 10 years for the securities and a call option after 5 years. READ MORE

IDBI Bank: The state-run lender has hiked interest rates on term deposits. The lender is offering 6.7 per cent to senior citizens for a select period under a new scheme. That apart, they have also introduced a special 500 days deposit under the Amrit Mahotsav FD (fixed deposit) scheme, offering a peak rate of 6.7 per cent. READ MORE

Future Retail: The financial creditors have submitted loan claims amounting to Rs 21,058 crore under the insolvency process. Around 33 banks have submitted the loan claims, with Bank of New York Mellon submitting the largest claim of over Rs 4,000 crore, followed by Bank of Baroda, Union Bank of India, and Central Bank of India.
 

L&T: The engineering and constructions company has bagged contracts worth Rs 2,500 crore and Rs 5,000 crore from Indian Oil Corporation. The company will help set up residue hydrocracker unit for IOC’s Panipat refinery expansion, which will meet rising demand for petroleum products.
 

Sobha: Markets regulator Sebi has disposed of adjudication proceedings against the realty firm and four individuals following settlement in a case of Rs 2.9 crore, pertaining to alleged fraudulent trading and disclosure lapses.
 

Stocks in F&O ban: Tata Chemicals is the only stock banned in the F&O ban period on Tuesday, August 23.