DHFL, Coal India, Axis Bank, Reliance Power, Ruchi Soya, Adani Enterprises stocks in focus -

DHFL, Coal India, Axis Bank, Reliance Power, Ruchi Soya, Adani Enterprises stocks in focus


DHFL, Coal India, Axis Bank, Reliance Power, Ruchi Soya, Adani Enterprises stocks in focusTrends on SGX Nifty suggested that BSE Sensex and Nifty 50 may start trading in the negative territory today.

Nifty futures were trading 60.15 points or 0.38 per cent down at 15,761 on Singaporean Exchange in early trade on Monday. Trends on SGX Nifty suggested that BSE Sensex and Nifty 50 may start trading in the negative territory today. Technical analysts believe that Nifty 50’s next target at 16,000 is intact. “An oscillator Stochastic has also suggested positive crossover, which indicates bullish strength for the near term. At present, the nifty seems to have resistance at around 16000 levels while immediate support shifted up to 15650 levels,” said Sumeet Bagadia, Executive Director, Choice Broking.

Stocks in focus

DHFL: Dewan Housing Finance Corporation Limited (DHFL) shares will stop trading on the stock exchanges from Monday, June 14. Last week, the resolution plan was approved by the National Company Law Tribunal (NCLT) in a successful bid of Piramal Group for DHFL. “In pursuance of Regulation 3.1.2 of the National Stock Exchange (Capital Market) Trading Regulations P. A. and for reasons mentioned above it is hereby notified that the following security will bc suspended from trading w.e.f. June 14, 2021 (i.e. closing hours of trading on June 11,2021),” the NSE circulated stated.

Coal India, Indian Overseas Bank: A total of 50 BSE-listed companies including Coal India, IDFC, Indian Overseas Bank, Greenply Industries, IFB Industries, JB Chemicals & Pharmaceuticals, Jaiprakash Power Ventures, Kajaria Ceramics, and Uttam Sugar Mills will release quarterly earnings on June 14.

Adani group stocks: Adani Enterprises Ltd on Saturday said it has incorporated a wholly-owned subsidiary, Adani Cement Industries Limited (ACIL). In a filing to BSE, the company said it incorporated the wholly-owned subsidiary on June 11, 2021 and the subsidiary company yet to commence its business operations.

Axis Bank: Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 12-18 months, said the insurance company’s CEO Prashant Tripathy said. Currently, Axis Bank and its two subsidiaries — Axis Capital Ltd and Axis Securities Ltd — collectively own 12.99 per cent in Max Life Insurance post approval of the deal in April this year.

ITC: Amid COVID-19 pandemic and slump in the hospitality industry owing to lockdown and travel restrictions, ITC Hotels is optimistic about domestic tourism prospects and planning to increase the number of properties under the brand Welcomhotel.

Reliance Power: Reliance Power (RPower) board of directors has on Sunday approved preferential allottment of shares and convertible warrants to Reliance Infrastructure (RInfra) by conversion of outstanding debt of Rs 1,325 crore into equity. The equity issuance will take RInfra and other promoter holding in RPower to up to 25%, and will further increase it beyond 38% on conversion of warrants, RPower said.

Ruchi Soya: The company informed that Board of Directors has approved raising of funds by way of further public offer of equity shares and the Draft Red Herring Prospectus for filing with SEBI and BSE and National Stock Exchange of India.

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