Top stocks to watch out for on June 18: Jet Airways, HDFC AMC, IndiGo, Tech Mahindra

SUMMARY

Indian shares are likely to open in green on Tuesday after a massive selloff in the previous session on fear of a trade dispute between US and India. Indian benchmark indices BSE Sensex and NSE’s Nifty 50 plunged over 1 percent after India announced retaliatory tariffs on US goods. Meanwhile, Asian shares traded mixed ahead of the US Federal Reserve’s interest rate decision on June 19. Oil prices declined as concerns over economic growth overshadowed geopolitical tensions in the Middle East. At 07:00 AM, the SGX Nifty futures traded 0.22 percent higher at 11,724, indicating 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-TV18Jun 18, 2019 8:19:18 AM IST (Updated)

HDFC AMC: It will provide a liquidity arrangement to certain fixed maturity plan (FMP) schemes of HDFC Mutual Fund to deal with the liquidity crunch owing to their exposure to the non-convertible debentures (NCDs) issued by companies promoted by Essel Group.

Jet Airways: Lenders have decided against an outright sale of Jet Airways to the lone bidder, instead voted to send it for bankruptcy to recover their Rs 8,000 crore dues.

Tech Mahindra: The IT firm will acquire Canada-based Objectwise Consulting Group Inc worth 2.75 million Canadian dollars (about Rs 14.33 crore).

Bandhan Bank: The bank would reduce its microloan interest rate by 70 basis points (bps) to 17.95 percent, which would be applicable to new disbursements from June 18.

Interglobe Aviation: IndiGo said it had placed an order worth $20 billion with CFM International for LEAP-1A engines to power 280 Airbus A320neo and A321neo aircraft.

Tata Consultancy Services: TCS has partnered with SAP to transform surgical kit handling with an IoT and Blockchain Solution Powered by SAP Leonardo.

Dewan Housing Finance Corp Ltd: DHFL said it has paid Rs 56.8 lakh interest on NCDs due June 17.

Cox & Kings: CARE reaffirmed rating on commerical paper issue of Rs 375 crore at A1+, and revised rating on non-convertible debenture issue from AA/Stable to AA-/Stable

Biocon: The board approved the sale of Branded Formulations India (BFI) business on a 'going concern' basis to unit Biocon Biologics India Ltd for Rs 45 crore.

Sandhar Technologies: The company has signed a joint venture agreement with Winnercom Co Ltd (South Korea) for manufacturing and selling, inter-alia, electronic parts and accessories for the automotive industries in India.