The stock market had a volatile trading session on Tuesday due to growing tensions in the Middle East. As investors wait to see how global events unfold, several stocks are expected to remain in focus on Wednesday, June 18. Here is a look at the companies likely to make news during the day:
BSE
BSE may see movement after the market regulator Sebi gave the go-ahead to both BSE and the National Stock Exchange (NSE) to change the expiry days for equity derivatives contracts. NSE will now have expiry on Tuesdays while BSE will move to Thursdays. This change is likely to impact trading strategies and volumes in the coming days.
HINDUSTAN ZINC
Vedanta is likely to sell around 6.67 crore shares in Hindustan Zinc through block deals. This accounts for about 1.6% of the company’s equity. According to reports, the floor price for the sale is fixed at Rs 452.5 per share. The sale could impact the stock price of both Vedanta and Hindustan Zinc in the short term.
OLA ELECTRIC
Ola Electric has announced a new 0% commission model for its drivers across all vehicle types — autos, bikes, and cabs. Drivers will now be able to keep the full fare they earn from each ride, without any commission cuts. There are no income or ride limits, and drivers can choose their own subscription plans. This move could bring major changes in the ride-hailing industry and affect other players in the market.
MAHINDRA & MAHINDRA, SML ISUZU
The Competition Commission of India (CCI) has approved the acquisition of SML Isuzu by Mahindra & Mahindra. M&M will buy a 43.96% stake from Sumitomo Corporation and an additional 15% from Isuzu Motors. It will also launch an open offer to purchase up to 26% more shares from public shareholders at Rs 1,554.60 per share. The approval clears the way for the deal to move forward and may lead to stock movement in both companies.
RAILTEL CORPORATION OF INDIA
RailTel has received a Letter of Intent from Zoram Electronics Development Corporation (Zenics) for setting up the Mizo Fibre Grid Network (MFGN) project. The contract is valued at Rs 43.99 crore. The project is expected to improve internet and digital connectivity in Mizoram.
DELHIVERY
The CCI has approved Delhivery’s plan to acquire at least 99.4% stake in Ecom Express for up to Rs 1,407 crore. This acquisition could help Delhivery strengthen its position in the logistics and delivery market, especially in e-commerce.
BHARAT FORGE
Bharat Forge has signed an agreement with French company Turgis Gaillard to bring the AAROK unmanned aerial vehicle (UAV) to India. The AAROK is a medium-altitude, long-endurance UAV equipped with radar and other sensors. It is designed to track enemy movement from a safe distance. The tie-up is in line with the goals of the Indian Ministry of Defence.
UGRO CAPITAL
The company will hold a board meeting on June 20 to consider raising funds by issuing convertible securities through preferential allotment. In addition, Ugro Capital has signed an agreement to fully acquire Profectus Capital for Rs 1,400 crore. The acquisition is expected to expand its financial services portfolio.
POLYCAB INDIA
Polycab India has signed a large contract worth Rs 6,447.54 crore with Bharat Sanchar Nigam Limited (BSNL). The company will work on the BharatNet project in Karnataka, Goa, and Puducherry. The deal includes design, supply, installation, and maintenance of internet infrastructure as part of Package 4 under the government’s upgraded BharatNet scheme.