Stocks To Watch On Tuesday, June 15

Markets ended on Monday June 14, 2021 at record highs once again. Buying was seen in IT stocks and Reliance Industries. Equity markets opened gap down but recovered swiftly to end with marginal gains. Both NIFTY/Sensex ended 13/76 points higher (+0.1%/0.2%) at 15,812/52,552.

The momentum of the market continues to be firm and here are stocks to watch on Tuesaday, June 15, 2021. Some of them will react to news, especially corporate results.

Coal India

Coal India is a stock that will be in action, post its quarterly numbers. Government owned Coal India reported a marginal 1.1 per cent decline in its consolidated profit at Rs 4,586.78 crore for the quarter ended March 2021 on the back of lower sales. India's largest coal miner had posted a consolidated profit of Rs 4,637.95 crore in the same period a year ago, Coal India Ltd (CIL) said in a filing to the BSE. Its consolidated sales in the January-March period declined to Rs 24,510.80 crore, from Rs 25,597.43 crore in the March quarter of 2019-20, the filing said.

Shares in Coal India ended the day at Rs 159.30 on the Bombay Stock Exchange.

Adani Group Shares

Adani group shares whcich have been in the news throughout the day, will be closely watched on June 15 once again, after the group issued a clarification on frozen shares wherein the group said that it has written confirmation that accounts of three foreign funds that are among its top shareholders are not frozen and reports to the contrary are "blatantly erroneous and misleading". Shares of Adani group companies plunged on Monday after reports that the National Securities Depository Ltd (NSDL) froze the accounts of the three foreign funds that are among the top stakeholders in the firms.

Indian Overseas Bank

Indian Overseas Bank will be in the news on June 15, after the Bank reported a jump of over two times in its net profit at Rs 349.77 crore in the last quarter of the fiscal ended March 2021. The bank had posted a net profit of Rs 143.79 crore in the same period a year ago. Total income during Q4FY21 rose to Rs 6,073.80 crore as against Rs 5,484.06 crore in Q4FY20, IOB said in a regulatory filing. Provisions for bad loans and contingencies for the reported quarter increased to Rs 1,380.46 crore as against Rs 1,060.38 crore parked aside in the corresponding period a year earlier.

Banking stocks

Banking stocks would in action after retail inflation surged. Retail inflation in May rose to 6.3% from 4.23% in April, govt data showed. This was way above analysts estimate of around 5.2%.

Food inflation accelerated to 5.01 per cent in May, as compared to 1.96 per cent in April, while core inflation stood at 6.6 per cent

PNB Housing

PNB Housing is another stock that will be watched after reports that the Carlyle Group along with other entities on Monday floated a "draft letter offer" with regard to an open offer for acquisition of over 7 crore equity shares representing 26 per cent stake in PNB Housing Finance. This forms part of the proposed deal to invest Rs 4,000 crore in the company through a preference issue.

Shares in PNB Housing were last seen trading at Rs 776 on the NSE.