Stocks to Watch: TCS, IndusInd Bank, Infosys, Axis Bank, RVNL, Aurobindo Pharma, and Others
Stocks to Watch: TCS, IndusInd Bank, Infosys, Axis Bank, RVNL, Aurobindo Pharma, and Others
Stocks to watch: Shares of firms like TCS, IndusInd Bank, Infosys, Axis Bank, RVNL, Aurobindo Pharma, and others will be in focus on Monday's trade.

Stocks To Watch on June 26: The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,697.50, down 17.5 points or 0.09% from the previous close.

TCS: TCS has suspended four employees for violating its code of conduct, following a whistleblower complaint received earlier this month, according to reports. The company has also clarified that it probed the allegations made in the complaint and found out that the charges do not “involve any fraud by or against the company and have no financial impact”.

IndusInd Bank: The Hinduja Group is in talks to invest Rs 10,000 crore to hike its stake in IndusInd Bank, according to a media report. Hinduja Group is likely to increase its stake from 17 per cent to 26 per cent, reported Economic Times. The deal is likely to be completed by the second half of FY24.

HDFC Life: The investigative wing of the Central Board of Indirect Tax and Customs (CBIC) has slapped a show cause-cum-demand notice on HDFC Life Insurance Company for an amount of Rs 942.18 crore. This notice pertains to charges of wrongly availing the input tax credit without the underlying supply of services.

ICICI Securities: Private lender ICICI Bank will hold a board meeting on Thursday, June 29 to consider a proposal for delisting the equity shares of its broking arm ICICI Securities.

Ipca Laboratories: The US Food and Drug Administration (US FDA) has issued Form 483 with 8 observations for company’s Pithampur formulations manufacturing facility in Madhya Pradesh. The USFDA inspected the facility during June 15-23, 2023.

Infosys: The company said was cooperating with an Australian government investigation into ‘tainted contracts’. The software major has also reportedly cut off ties with lobbying firm Synergy 360 – which was reportedly paid $16 million over 5 years to help Infosys grow its business in Australia. An investigation was launched last year amid claims that former MP Stuart Robert had helped the lobbying firm and its client win government contracts.

Aurobindo Pharma: European Medicines Agency’s (EMA) committee for medicinal products for human use (CHMP) has accepted the firm’s arm CuraTeQBiologics’ request to withdraw EU marketing authorisations application of ZEFYLTI & DYRUPEG.

Asian Paints: The paint manufacturer has acquired additional 11 per cent equity stake in Obgenix Software (brand name White Teak) for Rs 54 crore, from its promoters. The company now holds 60 per cent stake in White Teak, up from 49 per cent earlier.

Axis Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 30 lakh on Axis Bank for violation of credit card rules.

Rail Vikas Nigam: The company has emerged as the lowest bidder a project of design and construction of elevated metro viaduct, from Maharashtra Metro Rail Corporation. The cost of project is Rs 394.9 crore and the project is expected to be executed in 30 months.

Yes Bank: Its board has approved borrowing/raising funds in Indian/foreign currency for up to an amount of Rs 2,500 crore by an issue of debt securities including but not limited to non-convertible debentures and bonds.

Zydus Life: The company’s arm Zydus Animal Health And Investments will acquire a 6.5 per cent stake in Mylab for Rs 106 crore.

Jammu & Kashmir Bank: The RBI has imposed a monetary penalty of Rs 2.50 crore on the bank for non compliance with certain directions issued on creation of a central repository of large common exposures-across banks.

AU Small Finance Bank: The board will meet on June 29, 2023 to consider raising of funds by issue of equity shares through private placement or qualified institutions placement (QIP) or preferential allotment or through a combination thereof or any other alternative mode.

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