Top stocks to watch out for on June 17: Lupin, Reliance Infra, PSU banks

SUMMARY

India shares are set for a muted start on Monday as concerns of rising oil prices and delayed monsoon weigh on the economy. Moreover, markets sentiment also turned cautious after India took a decision to hike tariffs on 29 US products from June 16 in retaliation to the US decision of significantly hiking customs duties on certain steel and aluminium products. Asian shares also traded flat ahead of the monetary policy decision of the US Federal Reserve on June 19. At 7.25 AM, the SGX Nifty futures traded 0.01 percent lower at 11,830, indicating a flat start for the Sensex and the Nifty 50. Here are the top stocks to watch out for in today's trade:

By CNBC-TV18Jun 17, 2019 8:15:56 AM IST (Published)

Lupin: The drug major is recalling over 18,000 bottles of Cefdinir for Oral Suspension, used to treat bacterial infections, from the US market.

Reliance Infrastructure: The company reported a consolidated net loss of Rs 3,301 crore in the fourth quarter of FY19, compared to a profit of Rs 133 crore a year ago. Exceptional expenses rose to Rs 1,865 crore.

PNB: State-owned Punjab National Bank has put on sale six non-performing loans amounting to over Rs 1,000 crore, including two accounts of Vandana Vidyut and Visa Steel.

BHEL: The state-run engineering firm has won two orders worth Rs 800 crore for setting up solar energy capacity of 200 MW, and its solar photovoltaic portfolio has touched 1,000 MW mark with these orders.

PSU Banks: The Finance Ministry is evaluating capital needs of state-owned banks, and likely to provide about Rs 30,000 crore in the upcoming Budget to help them meet minimum regulatory capital requirement in the current fiscal, sources told PTI.

Novartis India: The pharma firm announced the appointment of Sanjay Murdeshwar as vice chairman and managing director of the company.

Fortis Healthcare: It has decided to close the bidding and search process to explore the possibility of sale of an interest in RHT Health Trust and RHT Health Trust Manager Pte Ltd.

Cadila Healthcare: Manufacturing facility of subsidiary Alidac Pharmaceuticals received an establishment inspection report. Zydus' Nesher Pharmaceuticals receives final approval from the USFDA for Omega-3-Acid Ethyl Esters capsules.

Coromandel International: Fertiliser manufacturer said that Gujarat State Pollution Control Board (GPCB) has allowed the company to open its facility at Sarigam in Gujarat for three months.

Corporation Bank: The public sector lender plans to raise up to Rs 5,000 crore through issuance of fresh equity shares, debt instruments on private placement basis, rights issue or through QIP in the current fiscal.

Aster DM: ICRA has upgraded the Credit Rating of Long-term bank facilities from ''ICRA BBB+ (Positive)'to 'ICRA A- (Stable)' for the long-term facilities.