The domestic stock market is expected to open in the negative territory on Thursday, June 11. The GIFT NIFTY futures suggest that the NIFTY50 index will open 85 points lower.
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Here is a list of stocks that may remain in focus today.
REC, Power Finance Corporation: Shares of the two companies will be in focus on Thursday as the President has approved the merger of REC with Power Finance Corporation.
In 2019, state-run PFC had acquired the government’s majority stake of 52.63% in REC for ₹14,500 crore.
Upon the merger being duly approved under the applicable law and being made effective, all the assets and liabilities of REC Limited will be transferred to PFC, and REC will stand dissolved in accordance with the provisions of Sections 230-232 of the Companies Act 2013, REC had said.
The demand order is related to short payment of output tax from April 2023 to March 2024, the company said in an exchange filing on Wednesday.
“This is to inform that the company has received an order on June 9, 2026, for the period April 2023 to March 2024, passed by Deputy Commissioner, State Special Circle-I, Andhra Pradesh, confirming demand of GST of ₹6,48,72,000 with interest of ₹2,49,53,504 and penalty of ₹64,87,200,” Eternal said.
“We believe that we have a strong case on the merits and do not expect any financial impact on the company,” it added.
The floor price is set at ₹486 per share, and the block deal size is ₹1,944 crore.
Meesho: American financial services company Fidelity Investments sold a 1.3% stake in e-commerce platform Meesho for ₹988 crore through open market transactions.
Fidelity Investments, via its two affiliates, FID FDI 312 LLC and FID FDI 2117 LLC, divested 5,98,16,300 shares, or 1.31% stake, in the Bengaluru-headquartered firm, as per the bulk deal data available on the NSE.
The equity shares were sold in the price range of ₹165.18 to ₹165.21 apiece, taking the combined transaction value to ₹988.15 crore.
Vascon Engineers: Construction engineering company Vascon Engineers has secured a Letter of Intent worth ₹347.43 crore from the Central Public Works Department, Guwahati, for “Demolition and Re-development of RBI Quarters at Zoo-Narengi Road Colony, Guwahati, Assam”. The work .
The work, which has been awarded on an ‘EPC Basis’, has to be completed within 36 months from the date of receipt of order, the company said in a regulatory filing.
Power Grid Corporation of India: The company’s board has approved the upgradation of SCADA and associated systems of NTAMC/RTAMC for ₹485.04 crore.
It also approved availing an unsecured term loan facility in Japanese Yen 80 billion from JBIC and participating financial institutions.
Zee Entertainment Enterprises: The board of the media conglomerate has given its nod to raise a minimum capital of ₹2,300 crore in one or more phases or tranches to fund the strategic and business initiatives.
Deccan Gold Mines: It has signed a definitive earn-in, option and shareholders agreement for the Logrosan Tungsten Project in Spain, leading a pathway for the firm to progressively earn an initial 51% stake in the project by March 2027.
