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market | IST

Stocks to watch out for on June 22: Ruchi Soya, Alok Industries, JSW Steel

Choppy trade for Indian market continued on Thursday ahead of the OPEC (Organization of the Petroleum Exporting Countries) meeting outcome.
Equities have failed to hold on to gains seen through the day as the Nifty closed with a fall of 31 points at 10,741, while the Sensex slipped 237 points from opening high of 35,679 to end 115 points lower at 35,432.
ITC, Larsen & Toubro and Mahindra & Mahindra dragged the market, while Reliance Industries, ICICI Bank and HDFC were seen fighting for bulls.
Here are the top stocks to watch out for today
  • Alok Industries: Debt-ridden Alok Industries may get a new lease of life as the lenders may soon pass a resolution plan for the company, preventing it from going into liquidation, said people familiar with the matter.
  • JSW Steel: India's biggest steelmaker JSW Steel is expected to make a bid for ArcelorMittal's Galati plant in Romania, three sources told Reuters, potentially competing against Ukraine's Metinvest and Italy's Marcegaglia.
  • Ruchi Soya:  The Serious Fraud Investigation Office is looking into a Rs 1420-crore suspicious transaction carried out by Ruchi Soya with a Singapore-based company, official sources told Moneycontrol.
  • ICICI Bank: Sebi on Thursday said it is looking into alleged violations of the code of ethics in the ICICI Securities IPO and has sought details.
  • Tata Motors: The Jaguar Land Rover investors will mee on Friday discussing cost-cutting issues and the road ahead. P Balaji, CFO, will lead this meeting. The company also said on Thursday that it plans to drive in 50 commercial vehicles this fiscal.
  • GVK Power and Infrastructure: The company is gearing up to reclaim the country’s tallest air traffic control tower (ATCT) from GMR Infrastructure by erecting a 105-meter tower at the upcoming Navi Mumbai International Airport (NMIA), Moneycontrol reported.
  • United Breweries: The Enforcement Directorate has rejected their plea to sell shares worth Rs 2,000 crore in the company, sources told The Economic Times.
  • Interglobe Aviation: Budget carrier IndiGo on Thursday announced the launch of direct flights from Lucknow to Goa and Pune from July onwards.
  • JSPL: Ratings agency ICRA upgraded the rating outlook for Jindal Steel and Power (JSPL) subsidiary Jindal Power from 'Negative' to 'Stable' on Thursday.
  • Electrosteel Steels, Vedanta: Electrosteel Steels Ltd on Thursday said Rs 5,320 crore has been remitted to its financial creditors as per the resolution plan approved by the NCLT. In April, the NCLT had approved the resolution plan submitted by Vedanta Ltd for Electrosteel Steels.
  • BlueStar: Blue Star expects its sales in the home water purifier segment to rise over Rs 400 crore in the next three years, as it targets around 10 per cent market share in the space, a top company official told PTI.