Stocks to Watch: LIC, Bata, AUSFB, Bharat Dynamics, REL, SBI Cards, HDFC Bk

Stocks to Watch Today: AU Small Finance Bank will be in focus as the company has set June 10 as the record date for the proposed 1:1 bonus issue.

Stocks to Watch Today: The BSE Sensex and the NSE Nifty are likely to start trade on a subdued note on Wednesday as the GDP numbers came more or less on expected lines, and global cues too were mixed. As of 07:10 AM, the SGX Nifty futures quoted at 16,500 as against the spot Nifty close of 16,585 yesterday.

India’s economy grew 4.1 per cent year-on-year in the January-March period of 2021-22 (Q4 FY22), even as the rate of growth slowed sequentially for a third straight quarter with the Omicron wave-induced restrictions and high commodity prices weighing on economic activities. READ MORE

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

eMudhra: Certifying authority firm eMudhra will make its market debut today. The IPO was subscribed 2.7 times and the issue price fixed at Rs 256.

Bata India: According to reports the promoters are likely to sell around 2.8 per cent stake in the company via a block deal today to raise Rs 630 crore. The floor price of the deal is fixed at Rs 1,750 per share, a 7 per cent discount to Tuesday's closing price.

Bharat Dynamics (BDL): The Ministry of Defence (MoD) signed a contract with the company for building Astra Mark-1 beyond visual range air-to-air missiles (BVRAAMs) worth Rs 2,971 crore for the Indian Air Force (IAF) and the Navy. READ MORE

LIC of India: The insurance behemoth with assets of Rs 42 trillion, said it realised gains of Rs 42,000 crore from its investment in the equity markets in financial year 2021-22 (FY22), an increase of 16.6 per cent YoY. Raj Kumar, LIC’s managing director, said the insurer invests approximately 25 per cent of its assets under management (AUM) in the equity markets. READ MORE

Pharma stocks: The Russia-Ukraine war has not dampened Indian pharma sales in that market. In fact, firms with a presence in Russia - Sun Pharma, Dr Reddy’s, and Glenmark - have posted high double-digit revenue growth during the ongoing crisis. READ MORE 

HDFC Bank: The merger of HDFC Bank and HDFC will create a financial powerhouse, which will see the lender more than double its profits as well as balance sheet size in five years, Sashidhar Jagdishan, MD & CEO of HDFC Bank, said on Tuesday. READ MORE

Cement stocks: The Indian cement industry is not only attracting billions of dollars of investment from the new entrants like the Adani group, but several financial investors such as Premji Invest and Radhakishan Damani have also picked up minority stakes in regional cement companies. READ MORE

SBI Cards and Payment Services: The company’s board is scheduled to meet on June 06 to consider and approve the proposal for raising of funds through issuance of Non-Convertible Debentures (NCDs) worth Rs 2,500 crore.

Reliance Infrastructure (REL): The company’s board is scheduled to meet on June 03 to consider and approve raising of long-term resources by issue of Foreign Currency Convertible Bonds (FCCBs) or similar securities.

AU Small Finance Bank (AUSFB): The bank has fixed June 10 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus shares in the ratio of 1:1.

Ritesh Properties & Industries: The company’s board is scheduled to meet on June 15 to consider a proposal for sub-division of equity shares in the ratio of 1:10.

Dredging Corporation of India: The company posted a net profit of Rs 1.06 crore in Q4FY21 as against a net loss of Rs 106.52 crore in Q4FY21. Total income was up 36 per cent YoY at Rs 289.58 crore from Rs 212.88 crore.