Stocks to Watch Today: Sugar, Banks, YES Bank, CG Electricals, Tata Elxsi

In the morning sessions, the BSE Sensex and the NSE Nifty are set to extend losses, reflecting the losses in global rivals. The SGX Nifty futures were trading at 16,263 at 07:15 a.m., predicting a 90-point loss on the open. In the next quarters, the Reserve Bank of India's (RBI) two consecutive rate hikes, including the 50-basis-point (bp) boost announced on Wednesday, and the ensuing reversal in the interest rate cycle, might hurt corporate profitability. In the meanwhile, here are the stocks that are expected to trade on Thursday.

Banks

Among other important policy changes announced on Wednesday, the RBI permitted credit cards to be linked to the Unified Payments Interface (UPI), which was previously utilised as a 'pay now' service, where money was debited straight from a customer's bank account for each transaction.

Bank of India

The bank's repo-based linked rate has been hiked to 7.75 percent from 7.25 percent previously.

Lupin

The drugmaker told BSE that it had got a conditional approval from the US Food and Drug Administration to distribute Ivacaftor tablets, which are used to treat cystic fibrosis. Vertex Pharmaceuticals' Kalydeco tablets are the generic version of this medication.

Tata Elxsi

In Kozhikode, Kerala, the business has constructed a new technological development centre. The new facility will house EV, Connected Car, OTT, 5G, and Digital technology teams as well as state-of-the-art technology and product development facilities.

YES Bank

Following the private sector bank's turnaround and considerable success following the introduction of the Reconstruction Scheme in March 2020, the bank's Board has recommended the formation of an alternate Board. Prashant Kumar has been suggested by SBI, one of the company's main owners, for the job of MD and CEO for a three-year tenure.

Sugar

The sugar sector has asked the government to give the additional 1 MT of sugar export order to sugar mills solely, rather than dealers or exporters, so that sugar mills can meet their current season export commitments.

Crompton Greaves Consumer Electricals (CG Electricals)

The company's board of directors will meet on June 13 to discuss a plan to raise up to Rs 925 crore through a private placement of shares.

Ujjivan Small Finance Bank

The bank's board of directors has authorised a proposal to raise up to Rs 1,500 crore over the next year by issuing non-convertible debt securities in one or more tranches.

TCI Developers

The company's board of directors will meet on June 13 to discuss the proposed delisting of the shares, as well as to set the floor price and indicative offer price.

Reliance Capital

After possible bidders requested more time, the company's Committee of Creditors (CoC) is expected to extend the deadline for submitting resolution plans to August 10.

Hardwyn India

The board of directors of the company will meet on June 13 to discuss a proposal for a bonus issue of equity shares.