Stocks To Watch: Coal India, Canara Bank, NTPC, Adani Ports, MOIL, and Others

Stocks To Watch On June 3: Stocks from within PSU themes like defence, railways, and banks will be in focus on Monday after exit polls predicted the continuation of the current Narendra Modi government for the third term in a row.

Coal India: It reported a 7.5 per cent increase in coal production for May, reaching 64.4 million tonnes year-on-year. Additionally, coal offtake rose by 7.2 per cent to 68.2 million tonnes.

Ashoka Buildcon: The firm has emerged as the lowest bidder for two projects worth Rs 2,153 crore from the Maharashtra State Road Development Corporation.

Canara Bank: The bank plans to sell a 14.5 per cent stake in its subsidiary, Canara HSBC Wipro: It has expanded its retail media offering by partnering with Cisco and AT&T.

MOIL: The company announced price hikes for various grades of manganese ore effective from June 1. Prices of all ferro grades with manganese content of Mn-44 per cent and above were increased by 35 per cent, while those with manganese content below Mn-44 per cent saw a 30 per cent hike. Prices of all SGMR, fines, and chemical grades were also raised by 30 per cent.

NTPC: The state owned company has commissioned the second and final phase of the 33 MW Anta Solar PV Project in Rajasthan, increasing its total capacity to 59,168 MW on a standalone basis and 76,048 MW on a group basis.

PNC Infratech: The company’s subsidiary has received a one-time settlement amount of Rs 391 crore from NHAI.

Adani Ports and Special Economic Zone: Its subsidiary, Adani International Ports Holdings Pte (AIPH), signed a 30-year concession agreement with the Tanzania Ports Authority to manage Container Terminal 2 at the Dar es Salaam Port, Tanzania. The agreement includes the acquisition of the project company in Tanzania, handling all port equipment and employees, for $39.5 million. Container Terminal 2 has a capacity of 1 million TEUs and manages around 83 per cent of Tanzania’s container volume.

Bank of India: The PSU bank is increasing its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across most tenures, effective June 1.