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Stocks to Watch Today: HDFC, SBI, Yes Bank, UPL, Zomato, telcos

16 Jun , 2022   By : Kanchan Joshi


Stocks to Watch Today: HDFC, SBI, Yes Bank, UPL, Zomato, telcos

NEW DELHI:  Here is a list of stocks that could be in focus on Thursday:


HDFC: In an attempt to clean up its books before the announced merger with its subsidiary bank, HDFC Ltd. is in the final stages of selling four large distressed accounts, including that of Subhash Chandra-promoted Siti Networks to Assets Care and Reconstruction Enterprise (ACRE), as per media reports.


Banks: Fitch Ratings on Wednesday revised its outlook to stable from negative for nine India-based banks, including SBI, ICICI Bank and Axis Bank. The other lenders include Bank of Baroda, Bank of Baroda (New Zealand) Ltd, Bank of India, Canara Bank, Punjab National Bank, and Union Bank of India.


Yes Bank: Nearly completing its transformation journey since the implementation of restructuring measures in March 2020, the private lender targets to recover over Rs5,000 crore during the current fiscal, the lender said in its annual report 2021-22.


Zomato: Come 1 July, food aggregators such as Swiggy and Zomato will be required to list nutritional values and food allergens of all items displayed on their menus. In an order, the Food Safety and Standards Authority of India (FSSAI) also directed online food ordering and delivery platforms to ask business partners with annual gross revenues of over Rs20 crore and more than 10 outlets to apply for a licence from thcentral authorities.


Telcos: The Union cabinet has approved the auction of 5G airwaves which will be part of the total 72097.85 MHz of spectrum that will be put on sale on 26 July. Bids have been called in by 8 July. Reliance Jio, Bharti Airtel, Vodafone Idea will vie for the prized 5G spectrum. However, the Union cabinet also decided to enable the development of private captive networks on 5G technology, rejecting opposition to the move from telecom service providers.


UPL: UPL through its subsidiary USCL has acquired Kudos Chemie for Rs40 crore, and is required to invest Rs237 crore in the entity over a period of two years as per a resolution plan approved by the NCLT. Kudos manufactures speciality chemicals used as beverage and pharmaceutical ingredients and has a manufacturing facility near Chandigarh.


Indian Overseas Bank: The board of the public sector lender said has approved the capital raising plan for FY23. The bank will raise up to Rs1,000 crore by issuing equity shares and another Rs1,000 crore by issuing bonds in FY23.


NBCC: The company has secured total business of Rs330.35 crore during May.


Usha Martin: Promoter entities Peterhouse Investments Ltd and PACs sold 63,000 equity shares in the company via open market transactions on 14-16 June. Their shareholding in the company now stands at 1.91%, down from 1.94 percent earlier.


Jyothy Labs: Nalanda India Equity Fund bought 6.55 lakh equity shares in the company via open market transactions on 14 June. Its stake in the company has risen to 5.06% from 4.88 percent earlier.


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