Stocks

Stocks to Watch: SBI, Cineline India, Wockhardt, RITES, Zee Entertainment

Here is the list of the top 10 stocks that are likely to be in focus on Wednesday:

SBI: State Bank of India (SBI), the country’s largest lender, has doubled down on loans to the infrastructure segment comprising roads, ports and power in FY22, amid renewed demand for credit from private companies.

Cineline India: Cineline India Ltd, which operates the multiplex chain MovieMax, on Tuesday said its promoters would subscribe to convertible warrants worth 35.1 crore. Following this preferential issue, the promoters’ holding in Cineline India would increase to 69.6 per cent from the current 67 per cent, a company statement said.

Wockhardt: Deepak Madnani was appointed by the company as the chief financial officer with immediatef effect on 7 June.

RITES: The firm signed a memorandum of understanding with a Senegalese railroad company.

Zee Entertainment: Insurance behemoth Life Insurance Corporation acquired 2 lakh shares in the media company through open market transactions on 6 June.

Indian Hotels: Indian Hotels Company Limited (IHCL) on Tuesday announced the signing of a 88-rooms Vivanta hotel in Jammu, Jammu and Kashmir. Located in the heart of the city, the existing hotel will be upgraded into the Vivanta brand post renovation, IHCL said in a statement.

Stocks sensitive to RBI rate hike: Sectors such as banking, financial services, others will be in focus as RBI will announce its rate hike decision on 8 June.

FMCG stocks: Rural demand may rebound in the second half of this fiscal year as bountiful monsoon rain, high food prices and a spike in remittances from migrant workers before the festival season boost incomes, companies and analysts said.

Hotel stocks: Hotel occupancies in India surpassed the 65% mark in April 2022, up 100 basis points from April 2019, with Mumbai region remaining the market leader with record-high hotel occupancies, according to a new report.

NBFC stocks: The collection efficiency of non-banking financial companies (NBFCs) and housing finance companies (HFCs) has been healthy in the range of 97% to 101% at the beginning of FY23, according to an analysis by Icra on retail pools securitised by these lenders.

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