Top stocks to watch out for on July 1: DHFL, JSW Steel, Reliance Home Finance, Godrej Properties, Avenue Supermarts

SUMMARY

Indian benchmark indices are likely to edge higher on Monday following gains in global markets after positive development in US-China trade negotiations. Asian shares advanced after the US and China agreed to restart trade talks and hold new tariffs. Oil prices rose over $1 a barrel after Russia agreed with Saudi Arabia to extend supply cuts for another six to nine months ahead of an OPEC meeting this week. Investors, however, will remain cautious ahead of the Union Budget on July 5. At 7.30 AM, the SGX Nifty futures traded 9.5 points, or 0.08 percent, higher at 11,847.50, pointing to a positive start for the Sensex and the Nifty 50. Here are the top stocks to watch out for in today's trade:

By CNBC-TV18Jul 1, 2019 7:44:44 AM IST (Updated)

Dewan Housing Finance (DHFL): A consortium of 30 lenders led by state-run Union Bank of India are scheduled to meet on Monday, seeking a solution for the Rs 90,000 crore debt. The lenders may also consider conversion of debt into equity that can make them the largest shareholder in the mortgage lender, sources told PTI.

Jet Airways: A Hinduja-Etihad consortium is gearing up to bid for the company under IBC; the Tata Group is exploring potential bid but has not taken final call yet, MoneyControl reported.

Avenue Supermarts: The company has issued Commercial Paper of Rs. 100 crore on June 28, 2019.

Reliance Capital: The company deferred the declaration of March-quarter financial results in view of the appointment of new auditors by subsidiaries Reliance Home Finance Limited and Reliance Commercial Finance Limited. (Twitter/@RelianceCapital)

Reliance Home Finance: The Anil Ambani-led firm has extended by four months the maturity date on its bonds worth Rs 400 crore due to continuing liquidity pressure.

Godrej Properties: Thefirm has raised Rs 2,100 crore by issuing equity shares to qualified institutional buyers (QIBs).

JSW Steel: Lenders of Asian Colour Coated Ispat Ltd (ACCIL) have approved the JSW Group's Rs 1,550 crore bid to acquire the debt-ridden steel firm, sources told PTI.

Power Finance Corp: Windacre Partnership Master Fund bought over 5.59 crore shares of PFC for Rs 755 crore through the open market transaction.

Fortis Healthcare: Sebi partly modified its order against Religare Finvest Ltd (RFL) in the matter of Fortis Healthcare by allowing the firm to dispose its assets subject to certain conditions.

Bajaj Auto: Terming the transition to Bharat Stage VI (BS-VI) emission norms from April next year as "joker in the pack", Bajaj Auto has cautioned that there could be dumping of old BS-IV stock in the domestic market.

Kalpataru Power Transmission Ltd: KPTL said it has secured new orders worth Rs 975 crore.