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Stocks to watch: SBI Life, IFCI, Tata Steel, JSW Steel, ERIS Lifesciences

SI Reporter/New Delhi 25 Jun 19 | 08:26 AM

At 08:23 AM, Nifty futures on the Singapore Exchange (SGX) were trading 5 points or 0.04 per cent lower at 11,711, indicating a muted start for the Nifty50 index back home. 

Here's a list of some of the companies whose shares are likely to trade actively on Tuesday - 

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SBI Life: BNP Paribas Cardif, the joint venture partner in private life insurance company SBI Life, will offload 2.5 per cent equity stake in the life insurance company for about Rs 1,625 crore. READ MORE

Piramal Enterprises: The company is planning to sell its entire 20 per cent stake in Shriram Capital to fund growth of its financial services business, the Ajay Piramal-led firm said on Monday.

IFCI: The state-owned non-banking financial company IFCI is planning to sell 12 million shares, comprising 2.44 per cent stake in the National Stock Exchange (NSE). CLICK TO READ FULL ARTICLE

Steel stocks: As per news reports, global brokerage firm CLSA believes steel prices will remain under pressure and there is a risk to earnings. It has maintained sell on Tata Steel and JSW Steel with the target prices of Rs 395 and Rs 225, respectively. 

Mindtree: Nalanda Capital has sold entire 10.6 per cent stake to L&T

ERIS Lifesciences: The company's board will consider a proposal of share buyback on July 3, 2019. 

Welspun Corp: Pipemaker Welspun Corp on Monday announced a Rs 390 crore share buyback plan for 2.8 crore shares at Rs 135 apiece.

Emami: Foreign brokerage Citi has cut the target price to Rs 340 from Rs 435. 

Andhra Bank: Andhra Bank said on Monday that its board has approved a proposal to raise equity capital of Rs 2,000 crore through qualified institutional placement or follow-on public offer or sale of non-core assets or preferential allotment.

Syndicate Bank: The lender's board is scheduled to meet on June 26, Saturday to consider and approve capital raising plan of the bank for the FY 2019-20.  

TCS: The IT services firm on Monday announced a 15 per cent increase in its stake in TCS Japan, its joint venture (JV) with Mitsubishi Corporation (MC), with an investment of JPY3.5 billion ($32.6 million).

Infosys: The company on Monday announced strategic partnership with Toyota Material Handling Europe. 

BHEL: LIC has cut the stake in the company by 2% in the last two months.  

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Sensex

Company Price Gain (%)
St Bk of India372.152.17
HCL Technologies1,040.652.02
Kotak Mah. Bank1,532.902.02
IndusInd Bank1,500.701.85
Asian Paints1,394.851.67

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