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    Stocks to watch out for June 12: Fortis Healthcare, Tata Steel, GAIL

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    Stocks to watch out for June 12: Fortis Healthcare, Tata Steel, GAIL

    The Indian market closed in the green on Monday. The Nifty failed to hold on to 10,800 levels and closed at 10,787. The Sensex slipped 226 points from highs to close the session 40 points in the green at 35,483.
    The broader markets saw high volatility with both, the leading indices, Nifty Midcap index and Nifty Bank reversing the gains seen in the first half of the day to close flat. The Midcap index closed 6 points lower at 18,825 while the Nifty Bank index rose 2 points to 26,454.
    Here are the top stocks to watch out for 
    • Fortis Healthcare: The company on Monday deferred the release of its fourth quarter and full-year financial results to June 25 saying the report of the internal investigation conducted by Luthra & Luthra Law Offices was made available only on June 8.
    • Tata Steel, Bhushan Steel: For Bhushan Steel's resolution case, Liberty House's overall offer stands above Rs 26,000 crore and Tata's is approximately Rs 24,000 crore. Tata Steel is said to have offered Rs 16,600 crore upfront and the remaining will be put in as capital into the debt-ridden firm, the committee of creditors remains undecided on the bids.
    • Ajmera Realty: The company acquired 5.5-acre land in Electronic City-II, Bengaluru on Monday.
    • Tata Power: The company's arm bagged a 150 MW solar PV project in Maharashtra.
    • Auto stocks: The SIAM data pointed out that the passenger car sales improved 20% and medium and heavy commercial vehicles rose more than 80% in the month of May.
    • Avenue Supermarts: The company reached Rs 1 lakh crore market capitalisation on Monday.
    • Bharti Airtel: Telecom major Bharti Airtel has chalked out plans to deploy 12,000 new mobile sites in the state taking the total to 52,000 during the current fiscal.
    • GAIL: Fitch Ratings assigned 'BBB-' rating with stable outlook to state-owned gas utility GAIL India saying its dominant market position is complemented by its diversification into other business segments.
    • Vedanta: Vedanta acquired the management control of debt-laden Electrosteel Steels.
    • ICICI Bank:  The bank said it did not receive specific communication from the US Securities and Exchange Commission (SEC) till now.
    • PNB:  In a development to the PNB fraud case, the CBI has sent a request to Interpol to issue a Red Corner notice against Nirav Modi and Mehul Choksi.
    • HDFC Bank: HDFC Bank raised the base rate by 10 basis points to 8.95 percent with effect from Monday.
    • Alembic Pharmaceuticals: The company received the US health regulator's nod for Bupropion Hydrochloride tablets which is used for treating a major depressive disorder.
    • IDBI, Federal Bank, Aditya Birla group: In a setback for IDBI Bank and Federal Bank, the sole bidder for IDBI Federal Life Insurance stake sale, Aditya Birla Sun Life Insurance, may exit from the the deal after it become unviable for them, said people familiar with the development.
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