Stocks to watch on Wednesday: Handy futures on the Singapore Exchange traded 58 points, or 0.35 percent, higher at 16,482.50, indicating Dalal Street was off to a positive start on Wednesday. The market fell sharply 1 percent on June 7, after consolidating in the previous two sessions, as traders appear cautious ahead of the Monetary Policy Committee’s rate decision and comments from the Reserve Bank of India. All sectors, with the exception of oil and gas and auto, closed in the red. The BSE Sensex fell 568 points, or 1.02 percent, to 55,107, while the Nifty50 fell 153 points, or 0.92 percent, to 16,416.
Price sensitive stocks
Rate-sensitive stocks, including banks, financial services, autos and real estate, will be in the spotlight on June 8, ahead of the Monetary Policy Committee’s rate decision. Experts largely expect the repo rate to rise 40-50 basis points, while the Reserve Bank of India commentary will also be closely watched by The Street.
Hindu copper
The company resumed mining operations at the Surda mine in Ghatshila, Jharkhand on June 7. The resumption of operations is after the renewal of the lease by the Government of Jharkhand and obtaining the required environmental permit from the Ministry of Environment.
Wockhardt
The pharmaceutical company has appointed Deepak Madnani as Chief Financial Officer with immediate effect on June 7. The company made this decision after Pramod informed Gupta that he will not be able to continue as Chief Financial Officer due to health reasons.
Zee Entertainment Enterprises
Life Insurance Corporation of India bought two more lakh shares in the company on June 6. This increased LIC’s stake in the company to 5.008 percent, from 4.988 percent earlier.
Sharika Enterprises
The company has received a purchase order from Voith Hydro Private Limited. The company will provide a 220KV XLPE cable package for the Voith Hydro Naitwar Mori project at a total value of Rs 4.6 crore.
RITES
Transport infrastructure consultancy and engineering firm has signed a Memorandum of Understanding (MoU) with Grands Trains
DU Senegal (GTS-SA), a railway company from Senegal, for technical cooperation in the railway sector, including rail transport, supply of rolling stock, development of railway infrastructure, modernization of workshops, IT solutions for railway operations and improvement of signalling, telecommunications, and track monitoring systems.
Cineline India
The company informed exchanges that the board of directors has approved the issuance of up to 27 lakh warrants for Rs 35.10 crore to promoters through a preferential issuance. These warrants can be converted into shares within 18 months at a price of Rs 130 per share. The company will also monetize real estate – Eternity Mall, in Nagpur for Rs 60 crore.
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