Stocks to watch: Tata Power, RITES, Jana SFB, Premier Energies, NIBE, Protean, Veedol Corp

The Indian equities market is poised for a positive start on Tuesday, mirroring firm trading in Asian peers and GIFT Nifty futures. At 8.30 a.m., the GIFT Nifty index traded higher by 68.5 points, or 0.27%, at 25,250, indicating a gap-up opening for the equity benchmarks the BSE Sensex and the NSE Nifty.

In the previous session, the domestic bourses rose by up to 0.4% in range-bound trade, extending its gaining streak for the fourth straight session. The BSE Sensex ended 256.22 points, or 0.31%, higher at 82,445.21, and the NSE Nifty closed at 25,103.20, up by 100.15 points, or 0.4%.

The top five gainers among the Sensex pack were Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Power Grid Corporation, and IndusInd Bank, rising in the range of 1.6%-3.2%.

The BSE Sensex, which is a basket of 30 constituent stocks representing large and liquid companies, saw 9 shares ending in the red. Eternal (Zomato), ICICI Bank, Titan, Mahindra and Mahindra, and Adani Ports were among the top five laggards, falling between 0.3% and 1.95%. 

Here’s a list of the stocks that will be in focus today:

Companies announcing Q4 results: As the March quarter earnings season reaches its last leg, a few companies, including Borana Weaves, Orissa Minerals Development Company, PG Foils, and Supreme Infrastructure India, are set to release their March quarter results today.  

Tata Power: The company’s solar manufacturing arm (TP Solar Limited) crossed 4 GW of solar module production at its Tamil Nadu facility.

RITES: The company has received an order for “Construction Supervision for the extension of East Bank- East Coast Road Project Phase 2 (Eccles to Providence)” including additional work for existing assignment from Ministry of Public Works, the Co-operative Republic of Guyana.

Jana Small Finance Bank: The Bengaluru-based small finance bank, which commenced operations in March 2018, has submitted an application to the Reserve Bank of India (RBI) for its voluntary transition to a universal bank.

Protean eGov Technologies: The company has secured a work order worth ₹100 crore from the Bima Sugam India Federation (BSIF).

Premier Energies: South Asia Growth Fund II Holdings is reported to sell 2.5 crore equity shares (representing 5.5% of the paid-up equity) of the company via block deals today.

ITD Cementation India: The company has bagged a contract valued at around ₹893 crore for the construction of a berth and breakwater for the development of greenfield captive jetty(s) in Odisha.

Veedol Corporation: Promoter Andrew Yule and Company is reportedly looking to sell up to 2% stake (or 3.48 lakh shares) in Veedol via offer for sale (OFS) on June 10 and June 11.

NIBE: The company has entered into a licensing agreement with Research & Development Establishment, Pune, Defence Research and Development Organisation (DRDO) for transfer of technology of modular bridging system of various lengths from 14 m to 46 m. 

Capri Global Capital: The company has launched its qualified institutional placement (QIP) issue for subscription on June 9, with a floor price of ₹153.93 per share.

Force Motors: Sanjay Kumar Bohra has resigned as Chief Financial Officer (CFO) of the company, effective June 9.

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