Stocks in news: SBI, Welspun Enterprises, CESC, Federal Bank and more

Stocks in news: SBI, Welspun Enterprises, United Drilling Tools, CESC and more

Stocks in news: SBI, Welspun Enterprises, CESC, Federal Bank and more Stocks in news: SBI, Welspun Enterprises, CESC, Federal Bank and more

Indian market is likely to open lower as Nifty futures on Singapore Exchange fell 115 points, or 0.73 per cent to 15,660.50. Sensex and Nifty fell off record highs on Wednesday amid intense selling in Reliance and HDFC twins as investors turned cautious ahead of the outcome of the US Federal Reserve's policy meeting. Sensex ended 271.07 points or 0.51 per cent lower at 52,501. Nifty declined 101.70 points or 0.64 per cent to 15,767.

Here's a look at stocks that are likely to remain in news today.

SBI: The country's largest lender SBI said its central board will meet next week to consider raising additional tier 1 capital for the current fiscal. A meeting of the central board of State Bank of India is scheduled to be held on June 21, 2021, to consider raising capital.

CESC: The firm posted a 13 per cent rise in its consolidated net profit to Rs 429 crore in Q4, mainly due to higher revenues.

The company's consolidated net profit had stood at Rs 378 crore in the quarter ended March 31, 2020

Jewellery stocks: In a relief to jewellers, the Centre said no penalty will be imposed till August on those who do not comply with the mandatory hallmarking of gold jewellery and artefacts that came into force from Wednesday in 256 districts across the country.

PNB Housing Finance: Amid concerns raised in certain quarters about its proposed Rs 4,000 crore-deal with Carlyle group, PNB Housing Finance said the process followed in determining the issue price for its securities was in line with the "market practice" followed by listed companies and in compliance with the applicable law.

Suprajit Engineering: TVS group firms, investors Sundaram Clayton and TVS Motor Company sold almost all stake in automotive and non-automotive cable manufacturer Suprajit Engineering on June 16.

United Drilling Tools: Cairn Oil Solutions sold 10 lakh equity shares (4.92 percent of total paid up equity) in oilfields equipment manufacturer United Drilling Tools at Rs 325.5 per share.

Welspun Enterprises: The construction & engineering company's net profit fell 54 per cent to Rs 40.94 crore in Q4 against net profit of Rs 89.08 crore in the corresponding quarter a year ago.

Federal Bank: The private lender said its board has approved issuing equity shares to World Bank arm International Finance Corporation and associates for over Rs 916.25 crore. The decision was taken by the board of directors at its meeting held on June 16, 2021.