Stocks to Watch, June 9: HDFC Bank, Bharat Electronics, Infosys, Tata Steel, Ambuja Cements, Reliance Infra, Go Fashion, and more

An HDFC Bank spokesperson said that the allegation made by Lilavati Kirtilal Mehta Medical Trust (LKMM Trust), its trustees, and officials against the bank's MD and CEO is baseless and malicious.

"The outrageous and preposterous allegations are strongly and categorically denied," the spokesperson said in a statement.

The Trust, which oversees Lilavati Hospital in Mumbai, had called upon the board of HDFC Bank, the RBI, SEBI and the Finance Ministry to suspend Jagdishan from all executive and board roles with immediate effect.

The latest move effectively ends nearly a year-long GST saga for India's second-largest IT services firm.

Go Fashion (India) under the 'Go Colors' brand has a presence of over 750 stores across the country. The first international store in Dubai has been established in association with retail conglomerate Apparel Group.

The company has received necessary approvals for its USD 1.5 billion project at Port Talbot, Tata Steel CEO & MD T V Narendran and ED & CFO Koushik Chatterjee said in the company's annual report for FY2024-25.

Ambuja Cements, which has crossed 100 MTPA (Million Tonnes Per Annum) capacity in FY25 in a record time, mainly through acquisitions, now aims to reach 118 MTPA by FY 2026 and 140 MTPA by FY 2028, primarily through brownfield expansion projects.

This strategic foray positions Reliance Infrastructure as India's first private sector company to independently execute a comprehensive aircraft upgrade programme without being the original manufacturer – a domain traditionally dominated by public sector units and OEMs.

Hyundai Motor India is looking at single-digit volume growth in its exports in the current fiscal year, while Maruti Suzuki is bullish to achieve around 20 per cent volume growth in its overseas shipments.

"We are aiming to become Hyundai's largest export hub outside South Korea. We aspire to continue our growth trajectory in exports in the coming years," Hyundai Motor India Managing Director Unsoo Kim told analysts during a call.

This makes the JK Organisation group firm the first major cement manufacturer to set up manufacturing operations in Srinagar, signalling a step towards regional economic empowerment, according to a joint statement.

As per the shareholders' agreement between the company and its promoters, JK Cement will acquire management control and hold 60 per cent of the paid-up capital of Saifco.

Sundaram Home Finance is a wholly owned subsidiary of Sundaram Finance Ltd. It provides home loans, plot loans, loans against property and business loans to traders and retailers.

The city-headquartered company, a traditional player in south India, has expanded its presence in Maharashtra, Rajasthan and Madhya Pradesh. It also entered into the Chhattisgarh market.

A consortium following the MoU would be formed which would look for business opportunities in environmental conservation, waste management, waste-to-energy and allied sectors.

The signing of the Memorandum of Understanding (MoU) marks a significant step forward for Tata Electronics and BEL in jointly exploring end-to-end solutions to meet domestic requirements, according to a release.

BEL, a Navratna PSU under the Indian Defence Ministry, specialises in the design, development, and manufacture of advanced electronics systems.

The main objective of this MoU is to jointly participate in copper and critical minerals block auctions, develop and operationalise blocks for exploration and mining and transportation, and share associated risks.

Backed by both SEBI and the Central Electricity Regulatory Commission (CERC), this move aims to help power generators, distributors, and large consumers hedge price risks and manage volatility.