Stocks to Watch on June 26, 2023: The Hinduja Group is in talks to invest Rs 10,000 crore to hike its stake in IndusInd Bank, as per media reports
Equity benchmark indices are staring at a muted start on Monday as global investors remain cautious after an armed coup by the Wagner Group was prevented in Russia against President Vladimir Putin.
At 7:30 am, the SGX Nifty was largely flat, quoting at 18,720 levels.
Asia-pacific markets were mixed this morning with Nikkei, Hang Seng and Strait times gaining up to 0.7 per cent, while S&P/ASX 200, Shanghai Composite and Shenzhen Component fell 0.2-0.7 per cent.
In the US on Friday, the Dow fell 0.65 per cent, the S&P 500 slid 0.77 per cent and the Nasdaq shed 1.01 per cent.
Brent crude rose 0.4 per cent to $74 per barrel as the averted civil war in Russia raised concerns of political instability.
Meanwhile, here are some stocks to watch out in trade today:
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.
