Stocks to watch out for on June 14: HDFC Bank, DISH TV
Indian markets gave up early gains on Wednesday but managed to end higher for the third straight session, the rally was primarily driven by I.T and healthcare stocks amid positive macro data.
Key indices Sensex closed up 46 points at 35,739, while nifty gained 14 points to end the day at 10,856 points.
U.S. Fed met on Tuesday-Wednesday, as per expectation hiked key policy rates by 25 bps, with the Fed over focus now shifts to ECB which will meet later today and announced road ahead on trimming its balance sheet, BoJ will announce its monetary policy tomorrow.
A look at some stocks which will be in focus today.
HDFC Bank: Cabinet on Wednesday approved Rs 8500 cr infusion from Parent co HDFC which will mantain 25.60% stake through a preferential issue.
Dish TV: Big bull Rakesh Jhunjhunwala's Rare Enterprises bought 1.3 cr shares of Dish TV via block deals on Wednesday.
Ruchi Soya: Battle to takeover debt riden Ruchi soya has intensified, Committee of Creditors met on Wednesday and declared Adani Wilmar as H1 (highest) bidder and Patanjali stood as H2 (second highest).
Tata Steel: Reports suggest Tata Steel which is in talks with Thyssenkrupp AG for a JV in Europe are discussing changing the terms of their steel joint venture in a way that could give Thyssenkrupp a bigger share of earnings.
PSU Banks in focus: Rating Agency Fitch has downgraded viability rating of State Bank of India and Bank of Baroda by one-notch, reflecting weak risk profile due to negative effect of poor asset quality.