Following a choppy start on Wednesday before the Fed meeting, Indian market indices held onto their gains. The US Fed concluded its policy meeting on Wednesday with a pause in interest rate hikes. 

Although, Wall Street reacted negatively, reversing most of its gains from the previous trading session. Accordingly, Asia markets are poised for muted gains, with market participants shifting their focus towards potential policy easing in China. 

Meanwhile, the NSE data showed that domestic institutional investors were net sellers and offloaded equities worth Rs 654.8 crore.

Here are a few stocks that will be in focus today. 

Axis Bank: Global private equity firm Bain Capital aims to divest a portion of its total 1.3% holding in Axis Bank for up to $267 million through a block deal with an offer price range of Rs 966 to Rs 977.70. 

SJVN: The public sector undertaking signed a memorandum of understanding (MoU) with Maharashtra State Power Generation Company (MAHAGENCO) on Wednesday to develop renewable energy projects with a total capacity of 5,000 megawatts (MW) in Maharashtra. Both parties will jointly participate in tenders issued by the Government of Maharashtra to renovate and modernise small hydropower stations operated by MAHAGENCO.

Central Depository Services Ltd (CDSL): The Bombay Stock Exchange (BSE) sold 47.44 lakh equity shares or a 4.5% stake in CDSL on Wednesday via an open market transaction at an average price of Rs 985.98 per share, amounting to Rs 467.74 crore.

Indian Overseas Bank: The public sector lender’s Asset Liability Management Committee has decided to increase the base rate by 20 bps to 9.10% from the existing 8.90%. The change will be effective from June 15, 2023.

Tega Industries: The National Company Law Tribunal (NCLT) has approved the corporate restructuring plan of promoter group companies, including Nihal Fiscal Services Private Limited (NFSPL), Tega Industries Limited, Marudhar Food & Credit Limited (MFCL), and MM Group Holdings Private Limited. With this approval, MFCL will merge into NFSPL, and the entire shareholding of MFCL (1.96% equity) in Tega will be transferred to NFSPL, resulting in NFSPL holding a 57.05% stake in Tega.

HCL Technologies: The IT services company announced the expansion of its strategic partnership with Google Cloud to develop joint solutions powered by Google Cloud’s generative AI technologies and help enterprises leverage generative AI. 

KRBL: The basmati rice exporter has announced the commencement of commercial production at its new plant at Anjar, in Gujarat.