Stocks to watch out for TODAY: Why BEL, NMDC, Aarti Industries, Indian Bank and Welspun India will be in action today? Check this report

On the back of positive news and results, Zee Business Senior Research Analyst Varun Dubey explains the stocks such as BEL, NMDC, VST Tilers, Rana Sugar, Indian Bank, Aarti Industries among others that are likely to show strong movement during Tuesday’s trade. 

Dubey said BEL and NMDC are expected to report strong fourth-quarter results, while Welspun India board has approved Rs 200 crore buyback to open on June 22 and close on July 5, 2021 at Rs 120 per share, similarly, Aarti Industries to issue a 1:1 bonus with a record date at June 23, 2021. 

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Whereas stocks such as TCNS, which reported strong set of Q4 numbers as compared to losses year-on-year, MM Forging, its revenue jumped by 76 per cent and EBITDA up 2.5x, margins up by 20 per cent and profit grew by 7.8x. MM Forging also announced final dividend Rs 5 per share. 

Despite a fall in revenue by two per cent, the company reported adjusted profit by 2.3x, while EBITDA jumped by 3.6x and margin grew by 17 per cent. Whereas VST Tilers reported an average results as marginal growth in revenue, While EBITDA and profit in positive YoY. 

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Indian Bank and Brigade Enterprises board approved for QIP at floor price of Rs 142.1 and Rs 246.5 per share, final price would be decided by the board on 24 June and 25 June respectively. 

Competition Commission of India on Monday gave approval to United Breweries to buy stake in Heineken International, while PNB Housing has been allowed to conduct EGM by SAT.