Stocks to Watch: Vodafone Idea, Bajaj Auto, Tata Steel, Glenmark Pharma

Stocks to Watch today: The US FDA has issued Glenmark Pharma form 483 with 6 observations for its Baddi Unit, which was inspected between June 13-22, 2022.

Stocks to watch: The Sensex and Nifty are likely to start Thursday's trade on a muted note amid a downbeat global sentiment. At 7:43 am, the SGX Nifty futures were quoting 20 points higher at 15,420.

On Wednesday, the minutes of RBI MPC meet revealed that the members of the monetary policy committee indicated more interest rate hike in the coming months to tackle rising inflation. In the US, Fed Chair Powell said the central bank’s battle against inflation could lead it to raise interest rates high enough to cause an economic downturn. “It’s certainly a possibility,” Powell said Wednesday. Read it here

 
Meanwhile, here are some stocks to watch out for on Thursday: 

Quess Corp: The company's board of directors have approved the merger of Allsec Technologies with Quess Corp.

Glenmark Pharma: The US FDA has issued the company form 483 with 6 observations for its Baddi Unit, which was inspected between June 13-22, 2022. 

Bajaj Auto: The company's board will now meet on Monday, June 27, to further deliberate on the proposal for share buyback. The company had deferred the buyback decision on June 14.

Adani Wilmar, Ruchi Soya: Joint Secretary at the Food Ministry said that prices of edible oil have started falling compared to previous months. This comes as the two companies cut prices considerably. 

DCB Bank: The bank has appointed Satish Gundewar as the Chief Financial Officer (CFO) of the company w.e.f July 1, 2022. 

Delhivery: Logistics services firm Delhivery, said it plans to expand its infrastructure in the two key cities of Bhiwandi (Greater Mumbai) and Bengaluru. Delhivery is collaborating with Welspun on a 700,000 sq ft mega-gateway in Greater Mumbai and with GMR for a one million-plus sq ft facility in Bengaluru, which will also include a warehouse for multi-channel order fulfilment for Delhivery’s customers. Read here

Tata Steel: Thyssenkrupp and Tata Steel have lost their fight against a European Union antitrust veto of their proposed landmark joint venture, after Europe's second-highest court rejected their arguments. The two in 2019 had sought to tackle over-capacity and other challenges in the steel industry via the joint venture, which would have created Europe's second-largest steelmaker after ArcelorMittal. Read here

Telcos: The government has removed spectrum usage charge ahead of the 5G airwave auction in a move that will enable companies save costs in spectrum purchase.The decision to scrap SUC for spectrum acquired in auctions after 2021 was a part of telecom reforms package that was unveiled last September. However, a formal order was only issued now. Read here 

Airlines: Twelve million passengers flew in May 2022, 1 million more than the previous month and the best ever since scheduled domestic flights restarted in May 2020. IndiGo has under 58 per cent of India’s domestic market, according to data from DCGA. Read here

IRB Infra: The National Highways Authority of India (NHAI), after a Delhi High Court order, has paid Rs 308 crore to IRB Pathankot Amritsar Toll Road Ltd (IRPRL), a special purpose vehicle (SPV) of IRB Infrastructure Developers, over a dispute in payment related to the Pathankot-Amritsar project.

Vodafone Idea: Vodafone Group Plc will infuse an additional Rs 436 crore into Vodafone Idea (Vi) through equity shares or warrants. The fund-raise was approved in a board meeting on Wednesday. This is the second capital raise by the company in two months after the Rs 4,500-crore infusion by the promoters, Vodafone Group Plc and the Aditya Birla group. Read more

GPT Infraprojects: The company has bagged an order worth Rs 292 crore for execution of viaducts, major bridges, ROBs, supply of vehicle, site facilities & other allied works for Khurda Road - Bolangir New B G link project of East Coast Railway. This contract is in joint venture.

Bharat Petroleum Corporation: BPCL has received approval from Ministry of Corporate Affairs for amalgamation of Bharat Oman Refineries with itself. The scheme of amalgamation will be made effective by both by filing copy of the order of the ministry with the jurisdictional registrar of companies.