Overnight Digest – Stocks to look out for on June 2

The stocks which could witness significant movement on June 2 are Bharat Heavy Electricals, Punjab National Bank, Zee Learn, Hero MotoCorp and D B Realty.

a) Bharat Heavy Electricals: Bharat Heavy Electricals Limited (BHEL), an integrated power plant manufacturer, has recently commissioned the 520 MW coal based power generating plant in Andhra Pradesh. It has commissioned the units at the 2x520 MW Vizag thermal power project of Hinduja National Power Co Ltd., based at Vishakhapatnam.

b) Punjab National Bank: Punjab National Bank (PNB) in its press release dated June 1, 2016 reviewed and fixed the Marginal Cost of Funds Based Lending Rate (MCLR). The MCLR remained unchanged from the April rates. Rates in terms of tenor go as follows: overnight-9.15 per cent; one month-9.2 per cent; three months- 9.3 per cent; six months- 9.35 per cent; one year-9.4 per cent; three years-9.55 per cent; and five years-9.7 per cent. 

c) Zee Learn: Zee Learn recently declared that the company would not go ahead with the merger deal with Tree House at the agreed exchange ratio and has reconstituted the evaluation panel to find ways to recoup Tree House. The stocks may react to the declaration in Thursday's trade.

d) Hero MotoCorp: Hero, the largest two wheeler maker has posted its May sales data that reported 2.32 per cent rise to 583117 units as against 569876 units in May 2015. The demand remained subdued with retail offtake.

e) D B Realty: According to media reports, NM Gattu, CFO, D B Realty, confirmed that the company would terminate the agreements with around 3500 buyers awaiting for the possession at Dahisar project since December, 2012 and duly return them money along with the cancellation fee of 9 per cent p.a.