Bajaj Finserv Ltd., Ashok Leyland Ltd., Indian Renewable Energy Development Agency Co. and JSW Energy Ltd. are among the stocks that are set to see action going into trade on Friday.
Bajaj Finserv: Promoter entities are planning to sell shares worth Rs 5,800 crore via open market transactions on Friday. Bajaj Holdings and Investments and Jamnalal Sons are offering as many as 3.1 crore shares or up to 1.94% stake via block deals.
Ashok Leyland: The company received letters of intent worth Rs 1,387 crore from the Motors Vehicles Department.
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Ireda: The company's board approved fundraising of up to Rs 5,000 crore through qualified institutional placement, with a floor price of Rs 173.83 per share. The company set to offer a discount of not more than 5% on the floor price.
JSW Energy: The company commissioned 281 MW of organic renewable energy capacity, including 215 MW of solar and 66 MW of wind, taking its current installed capacity to 12,499 MW. Furthermore, its arm signed a power purchase agreement with Adani Electricity for a STU-connected 250 MW wind capacity.
Coal India: The company signed a non-binding MoU with Indian Port Rail and Ropeway Corporation to develop rail infrastructure for Coal India and its subsidiaries.
Life Insurance Corp: Executive Director Ramakrishnan Chander has taken charge as chief investment officer.
Praj Industries: The company signed an agreement with Paraguay-based Enersur SA for a large-scale biorefinery project in Paraguay. The facility will produce ethanol along with co-products such as distillers dried grains with solubles, corn oil, SAF, biogas, and bio bitumen.
Power Grid Corp: The company commissioned a transmission network expansion project in Gujarat.
Ceat: The board is scheduled to meet on June 10 to consider the issuance of non-convertible debentures of Rs 500 crore on a private placement basis.
Mphasis: The company launched a centre of excellence for financial services in Argentina.
RBI Monetary Policy
The repo rate is expected to see a shallow cut of 25 basis points to 5.75% during the MPC. The rate sensitive sectors like banks, NBFCs, automobile and housing will be in focus
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The Reserve Bank of India's Monetary Policy Committee, led by RBI Governor Sanjay Malhotra, had cut the repo rate in February this year, followed by another in April.
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