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Stocks to Watch Today: Infosys, Union Bank of India and Jindal Steel

News18 logo News18 08-06-2021 News18
a man sitting at a table using a laptop: Stocks to Watch Today: Infosys, Union Bank of India and Jindal Steel © Provided by News18 Stocks to Watch Today: Infosys, Union Bank of India and Jindal Steel

The Indian benchmark indices are likely to open in the green on Tuesday, June 8 as the trend on SGX Nifty indicates a positive start for the broader index in India. Meanwhile, the SGX Nifty was trading 21.50 points or 0.14 percent higher at 15,801.00 at 7:10 am, on the Singaporean Exchange.

Top stock to look for the day:

Jindal Steel & Power: The company’s production in April-May 2021 increased by 31 percent to 13.71 lakh tonnes from 10.44 lakh tonnes, YoY. Steel sales also increased by 7 percent to 10.58 lak tonnes YoY.

Indiabulls Housing Finance: The company and Indiabulls Commercial Credit entered into a strategic co-lending alliance with the Central Bank of India to offer secured retail loans and secured MSME loans at competitive rates.

Infosys: The IT major announced a collaboration with Archrock, the leading provider of natural gas compression services in the US, to integrate its digital technologies and mobile tools for its field service technicians.

Shriram Transport Finance Company: The company has launched QIP worth Rs 2,000 crore, which will have SEBI calculated floor price of Rs 1,433 per share.

Union Bank of India: The bank’s Q4FY21 net profit rose 83 percent to Rs 1,329.77 crore from Rs 726.8 crore Q3FY21. However, net interest income fell 18 percent to Rs 5,402.86 crore from Rs 6,589.9 crore, QoQ.

Bank of India: The Reserve Bank of India (RBI) has imposed a penalty of Rs 4 crore on the bank for non-compliance with rules relating to KYC and fraud reporting.

Fairchem Organics: The company reported a higher profit of Rs 18.83 crore in Q4FY21 against Rs 11.23 crore in the corresponding period last year. Revenue increased to Rs 159.32 crore from Rs 89.3 crore, YoY.

VA Tech Wabag: Equity Intelligence India Pvt Ltd & EQ India Fund sold 14,800 equity shares or 0.02 percent stake in the company through an open market transaction.

The New India Assurance Company: The company’s Q4FY21 net profit jumped 90.6 percent to Rs 241 crore from Rs 127 crore. Their net premium grew by 15.9 percent to Rs 7,291 crore from Rs 6,289 crore, YoY.

Surya Roshni: The company received an order worth Rs 170.52 crore for coated line pipes for the gas grid pipeline project from Indradhanush Gas Grid (IGGL).

Punjab National Bank: The RBI has imposed a penalty of Rs 2 crore on the bank for non-compliance with the directions on identification and reporting of frauds and inaccurate data reporting on Central Repository of Information on Large Credits (CRILIC) platform, for the years 2017-18 and 2018-19.

List of companies which are going to declare their quarterly results: Engineers India, Essar Shipping, Galaxy Surfactants, Hester Biosciences, Jindal Hotels, KM Sugar Mills, Petronet LNG, Max Financial Services, PTC India Financial Services, Prestige Estates Projects, Shemaroo Entertainment, Suven Pharmaceuticals, Talbros Automotive Components, Titagarh Wagons, Vipul Organics and Wonderla Holidays among others will release their quarterly results on June 8.

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