The Indian stock market is expected to remain volatile next week, with investors awaiting cues from global markets. However, there are a few stocks that could be in focus:
YES Bank: Private lender YES Bank on Friday, June 23, said its board of directors has approved a fundraise of up to ₹2,500 crore via the issue of debt. The funds will be raised by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN), the bank said in an exchange filing.
IndusInd Bank: Hinduja Group has agreed to contribute ₹10,000 crore to grow its stake in Indusind Bank. By the second half of FY24, it is anticipated that the deal would be finalised. The request from the group to boost IndusInd Bank’s holding to 26% may be granted by the Reserve Bank of India, which caused the bank’s shares to rise by more than 3% on Friday. Currently, IndusInd International Holdings and IndusInd Ltd each control 12.585% and 3.92% of the bank, respectively, while the lender’s promoters possess 16.51% of the firm.
Hindustan Aeronautics Limited (HAL): A Memorandum of Understanding (MoU) for fighter jet engines was signed by Hindustan Aeronautics (HAL) and GE Aerospace, a division of General Electric, on Thursday. The agreement was signed during the historic summit between US President Joe Biden and Indian Prime Minister Narendra Modi.
Asian Paints: The Company announced today that it had acquired an additional 11% of White Teak’s equity share capital from its promoters for a sum of approximately Rs. 54 crores. White Teak is currently a subsidiary of the Company as a result of the Company holding 60% of its equity share capital.
RVNL: The Maharashtra Metro Rail Corporation (MMRCL) selected Rail Vikas Nigam (RVNL) as the lowest bidder (L1) for a project valued ₹394.89 crore. The first order calls for the provision of new 11 KV lines, low tension lines on AB cable, testing, commissioning, and other services in MPPKVVCL’s Chhatarpur circle. The order is worth 126.8 crore rupees. Similar in nature, the second order must be carried out in the Seoni and Narsinghpur circle. The cost of this order is Rs. 154.23 crore.
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