Overnight Digest – Stocks to look out for on June 7

The much awaited Bi- monthly RBI meet is on June 7 and looking at the global economic sentiment if RBI goes for a much awaited rate cuts then the markets are expected to rally. 

The stocks which could witness significant movement on June 7 are Lux industries Ltd., SBI, NBCC, Yes Bank, Shreyas Shipping & Logistics.

a) Lux Industries Ltd.: Innerwear manufacturer Lux Industries has announced a stock split of the face value of Rs 10 each into Rs 2 each per equity share in a 5-for-1 stock split, in compliance with applicable provisions of the Companies Act, and other applicable provisions. The stock will remain volatile in the early trade on Tuesday.

b) SBI: Banks plan to merger five it associates with itself officially looks like will be completed soon. Finance Minister Shri Arun Jaitley has said that the official decision from the centre is on its way and will come soon.

c)  National Buildings Construction Corporation Ltd.: State-owned construction firm NBCC has secured businesses worth Rs 1,900.79 crore in May. The company in the March quarter has reported a 6 percent rise in its consolidated net profit.

d) Yes Bank.: Yes Bank is looking to raise USD 800 million via qualified institutional placements (QIP. The bank recently got approval from Cabinet Committee on Economic Affairs to raise foreign holding to 74 percent.

e) Shreyas Shipping & Logistics: Shreyas Shipping & Logistics partners with Shipping Corporation of India (SCI) to strengthen coastal shipping and expand its presence in the trade by covering new ports on East -West trade lane.