Top 10 stocks in focus today

13 Jun 2022 , 09:11 AM

1. Vedanta:

With the ground-breaking ceremony performed at the Bomi iron ore mine on June 8, Vedanta's iron & steel sector forayed into international iron ore mining activities in Liberia, West Africa, through its subsidiary Western Cluster (WCL). Bloom Fountain (BFL) is a completely owned subsidiary of Vedanta, while WCL is a wholly-owned subsidiary of BFL. In 2011, WCL and the Government of Liberia (GoL) signed a Mineral Development Agreement for three iron ore mining concessions in Liberia, namely Bomi, Bea, and Mano.

1. IIFL Finance:

On June 10, British International Investment PLC (previously known as CDC Group PLC) used open market transactions to sell 1.6 crore equity shares in the company. As a result, its stake in the company decreased to 3.557 percent, down from 7.772 percent. According to bulk deal data, MAX Life Insurance Company purchased 24.6 lakh equity shares and Nomura India Investment Fund Mother Fund purchased 44,74,548 equity shares at an average price of Rs 325.1 per share.

1. Lemon Tree Hotels:

Under its brand 'Keys Lite by Lemon Tree Hotels,' the company has signed a License Agreement for a 44-room hotel in Gajuwaka, Visakhapatnam, Andhra Pradesh. The hotel is scheduled to open in March of 2023. This hotel will be operated by Carnation Hotels Private Limited, a subsidiary that is also the company's hotel management arm.

1. Jammu & Kashmir Bank:

The bank has approval from the board for the appointment of Pratik D Punjabi as the new CFO of the bank.

1. Astron Paper & Board Mill:

Due to reduced revenue and decreased other income, the company's consolidated profit fell sharply to Rs 0.32 crore for the quarter ended March 2022, compared to Rs 6.8 crore for the same period last year. During the same period, revenue declined to Rs 143.2 crore from Rs 143.8 crore.

1. Life Insurance Corporation:

The stock may be under pressure today as the 30-day period for anchor investors ends today.

1.  Adani Group:

Adani group is all set to raise $4.5 billion via a mix of loan instruments from overseas banks. It is currently in talks with over 12 banks.

1. Coal India:

The state-owned coal company has issued two medium-term tenders for procuring 6 million tonnes (MT) of coal from abroad, in an effort to secure local fuel supplies amid fears of a monsoon shortfall. There is a possibility to increase the offer quantity by 100% to 12 MT in these two auctions for a total of 6 million tonnes coal.

1. Suzlon Energy:

The company reported revenue growth of 53.48% Quarter on Quarter. Highest in past 3 years.

1. BPCL:

After sustained selling the stock seems to have stabilized in seems bullish for the short term. Also, as the oil and gas sector just took off the stock is expected to rise.