Stocks To Watch: LIC Housing Finance, Bharat Forge, Vedanta, Reliance Industries
The domestic stock indices are likely to trade higher on Tuesday, taking cues from their Asian peers. Asian shares were in the green today as Japan's Nikkei index rose 1.82 per cent, South Korea's KOSPI moved 0.49 per cent higher, and Hong Kong's Hang Seng index climbed 0.87 per cent. Trends on SGX Nifty indicated a gap-up opening for the markets back home. The Nifty Futures on Singapore Exchange, also known as the SGX Nifty Futures, rose 48.75 points or 0.32 per cent to 15,414.80.
The 30-share BSE Sensex had jumped 237 points or 0.46 per cent to close at 51,598 on Monday, while the broader NSE Nifty had moved 57 points or 0.37 per cent up to settle at 15,350.
Here Are Stocks To Watch During Today's Session:
LIC Housing Finance: Mortgage player LIC HFL has raised its prime lending rate (LHPLR) by 60 basis points (bps). With this increase, the new interest rates, effective from June 20, on home loans will now start from 7.50 per cent, the company said.
Bharat Forge: The company said it would consolidate its electric vehicle (EV) business initiatives under Kalyani Powertrain (KPL), a wholly-owned subsidiary, for a better strategic alignment.
Vedanta: Mining mogul Anil Agarwal's Vedanta Ltd has put on sale its copper smelter plant in Tuticorin, Tamil Nadu. The company sought initial bids, called an Expression of Interest (EoI), for the plant having capacity to produce 400,000 tonnes a year by July 4. The plant was shut four years after 13 people were killed in a police firing on protestors agitating against alleged pollution by the unit.
Reliance Industries: Market regulator SEBI has fined Reliance Industries (RIL) and two of its compliance officers for violating fair disclosure norms during Facebook's $5.7 billion investment in its digital unit (Jio Platforms) in 2020.
Telecom stocks: The government has proposed to provide Rs 4,000 crore incentive to promote design-led manufacturing in telecom sector under the production-linked incentive (PLI) scheme.
Further, Indiabulls Housing Finance and RBL Bank are the two stocks in F&O (Futures and Options) ban period today.