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Stocks in Focus: KEC International, State Bank of India, Dr Reddy’s Lab, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.22% lower by 53.50 points at 23,808, indicating that the domestic benchmark indices are likely to make a negative start on Thursday.

On Wednesday, 26 June, Domestic benchmark indices S&P BSE Sensex gained 0.80%, to end at 78,674.25 while the Nifty50 traded 147.50 points or 0.62% up, and settled at 23,868.80.

Here are some stocks that are likely to remain in focus on 27 June.

KEC International: The company has announced that it has secured new orders worth Rs 1,025 crore in its transmission and distribution and cable business verticals. 

State Bank of India: India’s largest bank has announced that they have raised Rs 10,000 crore through its fifth infrastructure bond issuance at a coupon rate of 7.36%.

Dr Reddy’s Laboratories: The company’s subsidiary, Reddy’s Laboratories SA, has signed a definitive agreement with Haleon plc and its associate companies to acquire their global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy (NRT) category, excluding the United States.

RBL Bank: The Board of Directors of the company are set to meet on 27 June to consider and discuss raising funds via qualified institutional placement (QIP). 

Raymond: The company is set to hold its annual general meeting (AGM) on 27 June. During the AGM, the company also proposed the reappointment of Gautam Singhania to the board for a five-year term. 

IIFL Securities: The Securities and Exchange Board of India (SEBI) has initiated an investigation into an associate of the company, Sanjiv Bhasin for alleged market manipulation. 

Reliance Industries: The company’s telecom branch, Jio, has further strengthened its position by acquiring the right to use spectrum in the 1,8000 MHz band in two circles for a total provisional cost of Rs 973.63 crore. 

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