Stocks to watch: Bajaj Auto, TVS Motor, Tata Steel, Cipla, JSW Steel, GAIL India, Future Retail

Stocks to watch today: The Indian equity markets are likely to open on a choppy ground as investor sentiments turn sour overseas. As of 7:20 AM, the SGX Nifty Futures quoted 15,761 levels, indicating a cut of 71-odd points on the Nifty50. All major indexes in the Wall Street dropped to the negative territory on Monday, June 27, as investors turned skeptical of economic recovery.

On Tuesday morning deals, major markets in Asia-Pacific traded mixed as covid-19 worries clouded positive outlook. While Hong Kong’s Hang Seng index fell 0.7 per cent, Japan’s Nikkei 225 was up 0.4 per cent.

That apart, back home, Finance Minister Nirmala Sitharaman will chair 47th GST Council meeting on Tuesday, June 28.

Meanwhile, here is a list of stocks that are likely to see some action in trade on Tuesday:

Bajaj Auto: The two-wheeler major has approved buyback of shares worth up to Rs 2,500 crore. The auto-major will buyback 5.43 million shares (that aggregates up to 1.88 per cent of paid-up share capital) via open market at Rs 4,600 per share. This comes after the board delayed decision over buyback last month. READ MORE

TVS Motor: The Chennai based auto-major plans to divert focus on electric vehicles (EVs) and will come up with multiple products in their two and three-wheeler segments under the 5 to 25 kilowatt range. They will also design digital applications for service and will book for digital appointments. Earlier, the company had inked patch with Tata Power to build EV infrastructure charging across the country. READ MORE

Future Retail: The National Company Law Tribunal (NCLT) reserved its order on the petition filed by Amazon opposing Bank of India’s plea to initiate insolvency resolution proceedings against debt-ridden Retail. The tribunal directed the e-retailer to submit their written response to the lender’s by Thursday, June 30. READ MORE

Tata Steel: Moody’s revised Tata Steel’s outlook to ‘positive’ from ‘stable’ after it delivered a strong operating performance and maintained conservative financial policies. An upward rating thrust is likely to be maintained over next 12 months if performance and credit metrics improvement are sustained. READ MORE

Cipla: The pharma major will acquire additional stake for nearly Rs 26 crore in a digital tech company, GoApptiv Private and raise their shareholding to 22.02 per cent. The investment is likely to be made via equity shares or Compulsorily Convertible Preference Shares and will be completed within 30 days. READ MORE

ICICI Lombard: The general insurance firm asserted that it would settle all admissible claims by MS clients of up to Rs lakh within 10 days ofME 5 claims survey. The insurer said that the use of state-of-the-art AI and big data analytics will enable this faster decision-making process and aid claims payments. READ MORE

JSW Steel: Moody’s upgraded JSW Steel’s Corporate Family Rating (CFR) to Ba1 from Ba2. The upgrade reflects the company’s strong operating performance and consistent credit metrics with good liquidity position. That apart, Moody’s has also changed ratings outlook on JSW Steel and Periama Holdings LLC to ‘stable’ from ‘positive’. READ MORE

Aurobindo Pharma: The company received a warning letter from capital markets regulator Sebi for non-disclosure of details related to an ongoing audit of one of its manufacturing units in Hyderabad and observations made by the US Food and Drug Administration (USFDA). The Sebi warning letter observes that the company had “disclosed very limited and restricted observation information” and did not considers of USFDA as serious. READ MORE

GAIL India: Fitch Ratings affirmed ‘BBB-‘ rating to the gas utility company, with a stable outlook, on the premise that the firm’s financial profile will remain strong. Fitch expects that the ongoing pipeline projects will enhance GAIL’s dominant market position over the medium term, thereby, lending a support to its rating. READ MORE

Tata Consumer Products: Chairman, N Chandrasekaran said that the current operating environment remains volatile and will likely hammer demand across categories amid persistent inflation. However, the FMCG major continues to strive towards increasing their R&D budget and expanding their distribution, product portfolio, and enter new categories. READ MORE

Stocks in F&O ban: Delta Corporation and Sun TV are stocks banned in the F&O ban period on Tuesday, June 28.

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