Stocks To Watch: Tata Steel, Delta Corp, Bank Of Baroda, M&M Financial Services, Bharat Dynamics
A stock broker trades in a trading room in Mumbai, India. (Photographer: Kuni Takahashi/Bloomberg)

Stocks To Watch: Tata Steel, Delta Corp, Bank Of Baroda, M&M Financial Services, Bharat Dynamics

Indian stock benchmarks dropped on Thursday, with key benchmarks registering their steepest single-day drop in nearly two months. The S&P BSE Sensex fell nearly 1% to 52,568.94 while the NSE Nifty 50 too declined by a similar magnitude to 15,727.90 -- the biggest drop for both the indices since May 12.

Here are the stocks to watch in trade today:

  • M&M Financial Services: Completed the acquisition of 20% of the Equity Share Capital of Ideal Finance Limited from its existing shareholders, resulting in an increase in MMFSL’s stake in Ideal Finance from 38.20% to 58.20%.

  • Bank of Baroda: Appointed Alok Vajpeyi as shareholder director of the bank. The board has also approved raising up to Rs 2,000 crore.

  • Tata Steel: CARE Ratings revised the company’s long-term credit rating from AA/Negative to AA+/Outlook.

  • Aban Offshore: Received possession notice for its assets from Punjab National Bank, Chennai for the recovery of loan borrowed by the company.

  • Bharat Dynamics: Signed a contract worth about Rs 499 crore with Ministry of Defence for manufacture and supply of Akash Missiles to the Indian Air Force. With this contract the company’s order book position now stands at about Rs 8,683 crore.

  • Tata Motors has signed a two-year MoU with Jammu & Kashmir Bank, to offer easy financing options to its customers.

  • Earnings Scheduled: Delta Corp

Pledge Share Details

  • Adani Ports and SEZ: Promoter Group (Gautam Adani and Rajesh Adani) created a pledge of 1 lakh shares on July 7.

  • Adani Transmission: Promoter Group (Gautam Adani and Rajesh Adani) created a pledge of 3.50 lakh shares on July 7.

  • Dilip Buildcon: Promoters (Dilip Suryavanshi and Devendra Jain) revoked pledge of 2.44 lakh shares between June 29 and July 7.

  • Apollo Hospitals Enterprise: Promoters (PCR Investments and Preetha Reddy) revoked pledge of 23 lakh shares between July 5-7.

  • Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 22.01 lakh shares on July 6.

  • Ramco Industries: Promoter Saradha Deepa revoked pledge of 2.50 lakh shares on June 16.

  • The Ramco Cements: Promoter Saradha Deepa revoked pledge of 10.48 lakh shares between June 16 and July 7.

    As reported on July 8.

Who’s Meeting Whom

  • HPL Electric & Power: To meet Abakkus Asset Management on July 9.

  • Dixon Technologies (India): To meet FMR and Blue Coast Capital on July 9.

Trading Tweaks

  • Ex-Date Final Dividend: Trent, Dr. Reddy's Laboratories, Control Print, Kirloskar Pneumatic, Navin Fluorine International

  • Record Date Final Dividend: Fineotex Chemical, DCM Shriram

  • Record Date Dividend: Crompton Greaves Consumer Electricals, Indian Bank

  • Price Band Revised From 10% To 5%: Gulshan Polyols, HFCL, Newgen Software Technologies

  • Move Into ASM Framework: Southern Petrochemicals Industries Corporation, Dynamatic Technologies

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