The Indian benchmark indices are likely to open marginally higher on Friday, June 11, tracking gains in Asian peers. Nifty futures on the Singapore Exchange was also trading over 22 points higher around 15,800, indicating a positive start on Dalal Street.
Top stock to look for the day:
Yes Bank: The company’s board agreed to seek shareholders’ approval for borrowing funds in Indian/foreign currency up to Rs 10,000 crore by issuing debt securities.
NHPC: The state owned hydropower board will raise debt up to Rs 4,300 crore through issuance of corporate bonds and /or raising of term loans/ECB.
Puravankara: The real estate developer completed the transaction of sale of shares of its 100 percent subsidiary — Vagishwari Land Developers. It received a sum of Rs 150 crore from GBTC II (Asset A) PTE. Ltd. and Godrej Projects Development Ltd.
GE T&D India: The company posted a net profit of Rs 16.11 crore in Q4FY21 as against a loss of Rs 187.13 crore in the same period a year ago. Total income increased to Rs 934.23 crore from Rs 698.47 crore, YoY.
Bank of Baroda: The state-owned lender has slashed the benchmark one-year marginal cost of funds based lending rate (MCLR) by 0.05 percent. Their latest MCLR revision for one-year tenor stands revised to 7.35 percent and will be effective from June 12.
PowerGrid Corporation of India: The Maharatna PSU’s board will consider a proposal to issue bonus shares to its shareholders in a meeting scheduled on June 17.
Bank of India: The bank has declared three Non Performing Accounts (NPA) with the outstanding balance of Rs 143.74 crore as fraud and reported to the Reserve Bank of India.
GOCL Corporation: The company along with IDL Explosives bagged orders with a combined amount of Rs 286.63 crore to supply Raydets, Electronic and other Detonators and Cartridge Explosives, for a duration of two years.
GE T&D India: The company announced a net profit of Rs 16.11 crore in Q4FY21 as against a loss of Rs 187.13 crore in the corresponding period last year. Total income jumped to Rs 934.23 crore from Rs 698.47 crore, YoY.
Tera Software: The company’s Q4FY21 profit fell at Rs 0.99 crore against Rs 2 crore in Q4FY20.
Gayatri Projects: The National Highways Authority of India (NHAI) has declared the company as a non-performer. The authority has also prohibited the company from participating in the ongoing and future bids of NHAI till the defects on the current project are not completely resolved as per contract requirements.
List of companies which are going to declare their quarterly results: BHEL, BEML, Cochin Shipyard, CG Power, DLF, Edelweiss Financial Services, Goa Carbon and Sun TV among others will release their quarterly results on June 11.