Stocks to Watch Today June 11: Power Grid, PFC, REC, Hindalco, Bank of Baroda and more

Stocks to Watch Today June 11: Indian stock market investors will track developments related to Power Grid, PFC, REC, Hindalco Industries and several mid-cap companies on Thursday. Fundraising plans, merger developments, order wins and regulatory updates are expected to keep these stocks in focus.

Hindalco Industries

Hindalco's subsidiary Novelis provided an update on the fire incident at its Oswego facility in New York. The company said the hot mill at the plant has resumed operations.

Power Grid

Power Grid approved an investment of Rs 485 crore for the upgrade of SCADA and associated systems.

The board also approved an unsecured term loan facility of around Rs 4,749 crore (8,000 crore Japanese yen) from JBIC and participating financial institutions.

The company also appointed Venkata S V as Chief Financial Officer.

PFC and REC

Power Finance Corporation (PFC) and REC may remain in focus after the government approved the merger of the two state-owned lenders.

Krishna Institute of Medical Sciences

The company will hold a board meeting on June 13 to consider raising funds through equity shares, warrants and other securities.

Bharat Wire Ropes

Bharat Wire Ropes received a notice from the Maharashtra Pollution Control Board (MPCB) regarding its manufacturing facility in Chalisgaon, Maharashtra.

The company said it is reviewing the matter.

IOL Chemicals and Pharmaceuticals

A minor fire incident occurred at the company's Minoxidil manufacturing unit.

Operations at the affected unit are expected to remain suspended for 8-10 days. Other units continue to operate normally. No injuries were reported.

Vascon Engineers

Vascon Engineers received a Letter of Intent worth Rs 347.43 crore from the Central Public Works Department.

The project involves demolition and redevelopment of RBI residential quarters in Guwahati, Assam.

Sobhagya Mercantile

A joint venture involving the company secured an order worth Rs 260 crore from Vidarbha Irrigation Development Corporation (VIDC).

The order is related to the Adyal Lift Irrigation Scheme under the Gosikhurd Project.

Bank of Baroda

Bank of Baroda increased its Marginal Cost of Funds-Based Lending Rate (MCLR) by 0.05 percentage points across all tenors.

The revised rates will come into effect from June 12.

UCO Bank

UCO Bank revised its benchmark lending rates.

The 12-month TBLR has been increased to 5.75 per cent from 5.60 per cent, while the one-year UCO G-Sec Rate has been raised to 6 per cent from 5.74 per cent.

The new rates are effective from June 10.

Krystal Integrated Services

The company secured a Rs 24.38 crore order from the Office of the Resident Commissioner, Maharashtra Sadan.

The four-year contract is for facility management services.

Deccan Gold Mines

Deccan Gold Mines signed a definitive earn-in agreement for the Spanish Tungsten Project.

The company plans to acquire an initial 51 per cent stake in the Logrosan Tungsten Project by March 2027 through an investment of around Rs 18.7 crore.

MedPlus Health Services

The drug licence of one store operated by subsidiary Optival Health Solutions in Karnataka has been suspended for two days.

3i Infotech

3i Infotech received a Rs 37 crore facility management services order from HPCL.

The company will provide IT services across HPCL locations for three years.

Mutual fund industry in focus

Asset management companies may remain in focus after SEBI proposed changes to remuneration disclosure norms.

The regulator is considering replacing individual salary disclosures with consolidated disclosures for senior management and removing mandatory disclosure of names of the highest-paid employees.

Renewable energy stocks

Renewable energy companies could see attention after Union Minister Prahlad Joshi said the government plans to roll out Floating Solar, Green Corridor 2.0 and Kusum 2.0 schemes.

The minister also said more than 42 lakh households have already installed rooftop solar systems, while efforts continue to achieve the target of one crore installations.