Stocks to Watch on June 13: Trent, Reliance, ONGC, Canara Bank and More in Focus

In the previous session, the NSE Nifty 50 dropped 253 points (1.01%) to close at 24,888, and the BSE Sensex fell 823 points (1%) to close at 81,692.

Let's explore the stocks to watch today due to recent developments. 

Stocks to Watch Today

Trent

Trent, a retail company under the Tata Group, has reduced its stake in its joint venture with Spain's Inditex—the company behind Zara. According to its FY25 annual report, Trent sold 1.4 lakh equity shares in Inditex Trent Retail India Pvt Ltd (ITRIPL), bringing its stake down from 49% to 39.94%. This was done via a buyback offer from ITRIPL and took effect on August 30, 2024.

Torrent Power

Torrent Power has secured a significant renewable energy project. Its subsidiary, Torrent Green Energy, emerged as the successful bidder for a 300 MW wind power project offered by the Solar Energy Corporation of India.

The wind plant is expected to become operational within 24 months of signing the Power Purchase Agreement (PPA). 

Reliance Industries

Reliance Industries, via its subsidiary Siddhant Commercials, has sold a large part of its stake in Asian Paints. A total of 3.5 crore equity shares were sold at ₹2,201 per share through a block deal, amounting to ₹7,703 crore.

After this sale, Reliance still holds 87 lakh shares in Asian Paints. 

Crompton Greaves

Crompton Greaves Consumer Electricals has received a Letter of Award from the Maharashtra Energy Development Agency (MEDA). The contract involves the supply and installation of 4,500 off-grid solar photovoltaic water pumping systems across the state.

Canara Bank

Canara Bank announced that its Board of Directors has approved a plan to raise up to ₹9,500 crore during the financial year 2025–26. The capital will be raised through the issuance of debt instruments, including Additional Tier I and Tier II Bonds.

Also Read:Bajaj Finance Set June 16 as Record Date for Stock Split!

ONGC

Oil and Natural Gas Corporation (ONGC) reported a gas release incident at its Rudrasagar field in Sivasagar district, Assam, on Thursday. The leak occurred at around 11:45 AM during servicing work at Well No. RDS-147, when the gas started gushing out unexpectedly. Details about containment and impact are awaited. The company is likely investigating and addressing the issue as a priority.

Conclusion

From legal battles and renewable energy wins to stake sales and acquisition moves, these companies have significant developments that could influence investor sentiment today.
 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.