Stocks to Watch Today: Indian stocks are set to be in focus on June 11 amid a series of corporate developments across sectors. REC may attract attention after receiving approval for its merger with Power Finance Corporation, while Airtel, Reliance Industries, Wipro and IndiGo announced key business expansion initiatives.
Inox Wind gained regulatory clearance for its merger, while Eternal (Zomato) disclosed a GST demand notice. Investors will also track fundraising plans at IIFL Finance and strategic partnerships involving Hindustan Zinc, CleanMax and Meta.
Merger Gets Presidential Nod
The President has approved the merger of REC with PFC, nearly seven years after PFC acquired the government’s controlling stake in REC.
Meesho
Fidelity Cuts Stake
Fidelity Investments sold a 1.3 per cent stake in Meesho through open market transactions, raising approximately Rs 988 crore.
Merger Approved
NCLT Chandigarh has approved the merger of Inox Wind Energy with Inox Wind, paving the way for corporate simplification.
GST Demand Notice
Eternal, parent of Zomato and Blinkit, received a GST demand notice of Rs 9.63 crore, including interest and penalty, from Andhra Pradesh authorities.
5G Expansion Accelerates
Bharti Airtel deployed over 2,900 new 5G sites across North India in the past year to enhance network coverage and user experience.
Sustainable Recovery Pact
Hindustan Zinc partnered with Sulfozyme Agro India under its Zinc Industrial Park initiative to promote sustainable metal recovery solutions.
IndiGo
Central Asia Network Expansion
IndiGo will launch direct Mumbai flights to Almaty, Tashkent, and Tbilisi between July and August, strengthening its international footprint.
Renewable Energy Tie-Up
CleanMax and Meta have partnered to develop over 900 MW of renewable energy capacity in India, supporting large-scale clean energy adoption.
Data Centre Partnership
Reliance Industries and Meta will jointly develop a 168 MW data centre in Jamnagar, Gujarat, with operations targeted within two years.
Wipro
Partnership Extended
Wipro has extended its technology services partnership with Metro AG by two years, reinforcing its long-term client engagement.
NCD Fundraising Plan
IIFL Finance plans to raise up to Rs 600 crore through a private placement of non-convertible debentures (Series D33).
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
