Top stocks to watch— Future Group, IRCTC, RITES, SBI, Bank of India, PNB and more

BCCL
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Indian stock market is likely to open on a tepid note, tracking subdued cues from Asian peers. At 7:50 am, the SGX Nifty was trading 0.30% lower, pointing towards a cautious start for Nifty50.

Hong Kong’s Hang Seng Index was also trading 157.91 points lower at the same time.

Here’s a list of stocks to watch for in trade on September 21:

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IRCTC

Indian Railway Catering and Tourism Corporation (IRCTC) that operates Indian Railways will run 20 pairs of clone trains from September 21 due to the huge demand for travel on specific routes. Most of these trains will run between Bihar, West Bengal, Uttar Pradesh, Delhi and Andhra Pradesh.

The share price of IRCTC closed 3% higher on September 18.

RITES

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The board of state-owned RITES has approved buyback of shares amounting up to ₹257 crore. In a filing to the stock exchange, the company said that it would buy shares at a price of ₹265 apiece.

The share price of RITES closed 1.11% higher on Friday.

State Bank of India, Bank of India, Central Bank of India and other public sector banks

State Bank of India, Bank of India, Central Bank of India and other public sector banks (PSB) will be in focus during the trade today. According to a reply to an RTI query, the government-owned banks reported frauds worth over ₹19,964 crore during the quarter ended June 30.
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The share price of SBI, Bank of India and Central Bank of India closed over 2% lower on the last trading day.

Punjab National Bank

On Friday, state-owned Punjab National Bank said the financial regulator of Kazakhstan had revoked the licence of its subsidiary, JSC Tengri Bank, on account of failure to observe prudential standards and other mandatory norms. PNB holds 41.64% in JSC Tengri Bank.

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The share price of Punjab National Bank closed 2% lower on September 18.

Future Enterprises

Kishore Biyani owned Future Enterprises (FEL) told stock-exchanges that it has defaulted on debt repayment towards the commercial paper. FEL said that it is unable to service its obligations in respect of the payment of commercial paper after its maturity and the gross principal amount on which the default has occurred on September14, is ₹90 crore.

FEL is responsible for developing, owning, and leasing retail infrastructure for the Future Group. And, this may move other Future Group stocks as well such as — Future Retail, Future Lifestyle Fashions and others.
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Computer Age Management Services and Chemcon Speciality Chemicals

Computer Age Management Services and Chemcon Speciality Chemicals IPO will be open for subscription from today onwards for investors.

Route Mobile

Route Mobile’s ₹600 crore IPO will debut on bourses today. The grey market is pointing towards a bumper listing with a premium of up to 60% over the issue price.
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