Stocks To Watch: Adani Enterprises, ONGC, HDFC Bank, Hero MotoCorp
The domestic stock indices are likely to trade lower on Wednesday, taking cues from their Asian peers. Asian shares were mostly in the red today as South Korea's KOSPI moved 1.52 per cent lower, Hong Kong's Hang Seng index fell 0.61 per cent and Japan's Nikkei index was trading almost flat by edging 0.09 per cent higher. Trends on SGX Nifty indicated a gap-down opening for the markets back home. The Nifty Futures on Singapore Exchange, also known as the SGX Nifty Futures, slipped 64.40 points or 0.41 per cent to 15,569.
The 30-share BSE Sensex had surged 934 points or 1.81 per cent to close at 52,532 on Tuesday, while the broader NSE Nifty had moved 289 points or 1.88 per cent up to settle at 15,639.
Here Are Stocks To Watch During Today's Session:
Adani Enterprises: The company, including 10 other firms, have expressed interest in bidding for coal import tenders floated by Coal India Ltd. On June 9, Coal India said that it has floated its maiden tender to import 2.416 MT of coal to ensure an adequate supply of the fuel to power plants in the country.
ONGC: State-owned Oil and Natural Gas Corporation has sought a minimum $17 price for the gas it plans to produce from coal seams in its Bokaro CBM block in Jharkhand.
HDFC Bank: The private lender has proposed to double its network of branches in the next three to five years by adding 1,500 to 2,000 branches annually, which would akin to adding a new HDFC Bank every five years, said its managing director and CEO Sashidhar Jagdishan.
Yes Bank: The private lender has introduced a product where the interest earned on a term deposit is linked to the RBI's repo rate. Till now, an external benchmark-linked rate has been popular on the lending side, but the same was not the case for deposits. The Reserve Bank has hiked rates by 0.90 per cent in two moves and is expected to do more to contain inflation.
Hero MotoCorp: The two-wheeler maker has further strengthened its operations in Turkiye with the launch of Euro-5 compliant variants of its three vehicles in the country, the company said on Tuesday.
Further, Indiabulls Housing Finance and RBL Bank are the two stocks in F&O (Futures and Options) ban period today.