Stocks to watch: Adani Ports, Pnb, Bajaj Finance, Cipla, Vodafone Idea, Sbi

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NEW DELHI: Here are the top 10 stocks that could be in the spotlight on Wednesday:

Bajaj Finance: India’s second-largest non-banking financial firm raised deposit rates by 10 basis points, effective May 10 – the second such hike in the past month. It also reduced the minimum deposit size by 25,000 to 15,000 to attract more depositors. At the end of April, it had raised deposit rates by 60 basis points.

National Bank of India: State Bank of India’s board has approved raising up to $2 billion through overseas bond sales. The bonds may be denominated in dollars or any other currency but are likely to be in several tranches. In January last year, the lender mopped up $600 million at a record coupon offered to international investors.

ICICI Bank: Merrill Lynch India Equities Fund Mauritius Ltd on Tuesday sold 4.80 lakh shares of ICICI Bank 34 crores via an open market transaction. According to block trade data available with the BSE, Merrill Lynch sold 4,80,440 shares at an average of 714.65 each. BlackRock Global Funds India Fund bought the same number of shares at the same price.

Vodafone Idea: India’s third-largest carrier, Vodafone Idea, cut losses to 6,563 crore in the quarter ended March 2022, from 7,230 crore in the previous quarter and increased its key operating metrics including revenue and margins thanks to the rate hike in November last year.

cipla: The pharmaceutical major achieved a consolidated net profit of 362 crores for the quarter ended March, down 12% year on year. The operational turnover amounts to 5,260 crores of 4,606 crore in the fourth quarter of FY21.

UltraTech Cement: Armed with favorable legal opinion and regulatory precedent under competition law, UltraTech Cement, part of Aditya Birla Group, likely to bid for Holcim’s Indian assets – Ambuja cements and ACC Ltd., According to a media report. It is also ready to voluntarily divest assets of around 15 MTPA in order to comply with market share standards.

Vedanta: The resources major is looking to add glitter to its balance sheet by exploring for gold and copper on four blocks acquired by listed parent company Vedanta, while increasing its subsidiary’s silver production this year Hindustan Zinc.

Retail of the future: Shareholders of Future Retail Ltd and proxy advisory firm InGovern Research Services have written to Sebi demanding immediate action to protect hundreds of thousands of Future shareholders and prevent the company from being sent to court in the United States. ‘insolvency.

Future businesses: Defaulted in payment of principal and interest on non-convertible debentures (NCD) of approximately 26 crore, the company said in a regulatory filing on Tuesday.

Welsh India: Home textile giant Welspun India reported a 61.8% year-on-year decline in consolidated net profit at 51.25 crores for the quarter ended March. The total consolidated result amounts to 2,247.06 crore compared to 2,173.56 crores in the prior year period.

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