GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 55.50 points or 0.24% at 23,592 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 ended up by 36.75 points or 0.16% to settle at 23,537.85 while the BSE Sensex gained 131.18 points or 0.17% to 77,341.08.
“Markets stayed volatile ahead of this week’s monthly expiry, as key benchmark indices ended with modest gains after a sharp fall in early trades amid selective buying in auto, power and capital goods shares while selling in IT, metal and oil & gas pared gains. Stocks may see sharp gyrating during the week investors would resort to value buying in select counters,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL
Stocks to Watch on June 25, 2024
Happiest Mind
Ashok Soota, promoter and executive chairman of an IT firm, has initiated a block deal to sell a 6% stake in the company. The total offer size for the transaction is Rs 754 crore. The floor price for the sale has been set at Rs 826 per share, which represents a 10% discount to the last closing price.
Maruti Suzuki India
The automaker announced it has received a show cause notice (SCN) from the Goods and Services Tax (GST) Authority in Gujarat. The notice pertains to the period from July 2017 to March 2023 and involves an alleged input tax credit denial on certain services, amounting to Rs 5.4 crore.
Sun Pharma
Sun Pharma has announced the successful completion of the merger between Taro Pharmaceutical Industries and its subsidiary company. As part of the merger, Sun Pharma has acquired all outstanding ordinary shares of Taro, excluding those already held by Sun Pharma or its affiliates.
Borosil
The company has launched its Qualified Institutions Placement (QIP) after receiving approval from its Board of Directors. The floor price for the QIP is set at Rs 331.75 per equity share. This move is in line with the company’s earlier resolution to raise up to Rs 250 crore through this fundraising route.
Shalby
The multi-speciality hospital chain announced it has terminated its franchise agreement with Madhuban Orthopedic and Multispecialty Surgical Hospital Private Ltd in Udaipur, citing breaches of various terms and conditions by the franchisee. The termination notice was executed on June 24, 2024.
Swan Energy
The company announced its plan to acquire a 49% equity stake in Triumph Offshore Private Ltd (TOPL) from Indian Farmers Fertiliser Cooperative Ltd (IFFCO) for Rs 440 crore. Swan Energy will purchase 26,21,50,000 equity shares of Rs 10 each in TOPL from IFFCO. The deal received approval during the Board of Directors meeting.
Craftsman Automation
The automation firm announced the signing of a Memorandum of Understanding (MoU) with Sunbeam Lightweighting Solutions Private Ltd and Kedaara Capital Fund II LLP. The MoU outlines the firm’s intent to acquire all or part of Sunbeam’s business in one or more tranches, excluding specific assets in Gurugram.
Amara Raja
Amara Raja Advanced Cell Technologies Private Ltd, a wholly owned subsidiary of the automotive battery maker, has signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co Ltd.
