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market | IST

Stocks to watch on June 5: PNB, IndiGo, JSW Steel

The Indian market on Monday looked isolated from global peers, courtesy the big fall in domestic banks.
The leading banking index, Nifty Bank, tumbled 445 points to 26,258 with all the constituents of the index closing in the red.
The biggest loser of them was HDFC Bank, with its contribution to Nifty Bank fall at over 60%.
The benchmark indices, Sensex, closed 215 points lower at 35,012 and the Nifty shedding 68 points to end the session below 20-day moving average at 10,629.
Here are the top stocks to watch out for
  • Punjab National Bank: Fitch Ratings has downgraded the viability rating (VR) of state-owned Punjab National Bank (PNB) to 'b' from 'bb-' and maintained it on rating "watch negative" (RWN).
  • Interglobe Aviation:  IndiGo is again battling Pratt & Whitney engine problems, with at least four of its planes experiencing glitches in one week, sources told PTI.
  • Sugar stocks: The centre is all set to announce Rs 10,000 crore package for sugarcane farmers.
  • JSW Steel: The company said the long-stop date for acquiring Acero has been extended to June 15 from May 31.
  • Lupin: The company launched generic Methylergonovine Maleate tablets in the US.
  • Binani, UltraTech: The Supreme Court has directed the Committee of Creditors and the lenders not to finalise on a decision on the bids and the resolution process.
  • Hotel Leela: Hotel Leela board is considering to issue shares up to Rs 125 crore to JM Finance ARC through the preferential route on June 11.
  • State-run companies: The government may soon cut its stake in state-run companies to 49%, reported The Economic Times.
  • PSU Banks: In a bid to rein in bad loans, the government is planning to merge at least four state-run banks, including Bank of Baroda, IDBI Bank Ltd, Oriental Bank of Commerce and Central Bank of India, reported Mint on Monday.
  • NCC: The company bagged an order worth Rs 330.9 crore in May from the Bihar government, which is to be completed within 48 months.