GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by just 10 points or 0.04% at 23,425 indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 ended up by 75.95 points or 0.33% to settle at 23,398.90 while the BSE Sensex jumped 204.33 points or 0.27% to 76,810.90.
“The domestic equity benchmark traded with a modest gain, with domestic CPI data indicating that inflation is on a slow track of decline. A similar trend is reported in the US CPI, which brought down the market expectation from 2 rate cuts in CY24 to 1, which is having a mixed effect on the global markets,” said Vinod Nair, Head of Research, Geojit Financial Services.
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: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Bharti Airtel, ONGC, BEML, Adani Energy Solutions, Bharti Hexacom, Lupin, Shree Cement
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Nair also added that, In the domestic broader market, the realty and consumer durables sectors took the lead owing to government initiatives to revive the affordable housing segment.
Stocks to Watch on June 14, 2024
Ambuja Cements
Ambuja Cements, a subsidiary of the Adani Group, announced on Thursday the acquisition of Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs 10,422 crore. The acquisition, formalized through a binding agreement, will increase the Adani Group’s cement production capacity by 14 million tonnes per annum (MTPA), bringing the total to 89 MTPA.
NBFC Stocks
According to data released by the Reserve Bank on Thursday, sales of listed private non-financial companies grew by 6.9% in the fourth quarter of 2023-24, up from a 5.5% rise in the previous quarter. In comparison, the sales growth for these companies was 8% in the January-March quarter of 2022-23.
Vodafone idea
The telecom company’s board has approved the issuance of up to 166.07 crore shares in one or more tranches, valued at up to Rs 2,458 crore, to Nokia Solutions and Networks India Pvt. Ltd and Ericsson India Pvt. Ltd, according to an exchange filing.
Defense Stocks
India’s defence ministry has announced plans to further strengthen its domestic defense manufacturing capabilities and elevate defense exports to unprecedented levels. This initiative aims to bolster the country’s defense sector and expand its global footprint in defense exports.
Suzlon Energy
The renewable energy major announced on Thursday evening that it has appointed Khaitan & Co., a prominent law firm in India, to review its corporate governance practices. This move follows the resignation of Suzlon’s independent director, Marc Desaedeleer, who cited corporate governance issues as his reason for stepping down.
Havells India
The company has announced plans to expand its air conditioner manufacturing capacities at Ghiloth and Sricity locations to 15 lakh units per year each. The investment for this expansion is estimated at ₹50-60 crore. The capacity enhancements, expected to be completed by Q4FY25, will be funded through internal accruals.
NALCO
The Navratna company NALCO has signed the Pottangi Bauxite Mining Lease Deed with the Odisha government for 697.979 hectares. The lease boasts an annual production capacity of 3.5 million tonnes and estimated reserves of 111 million tonnes. NALCO anticipates swift operationalization of the mine, with plans to transport the mined bauxite to its refinery at Damanjodi.
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RITES
The Delhi Metro Rail Corporation (DMRC) and Rail India Technical and Economic Service (RITES) have signed a Memorandum of Understanding (MoU) to collaborate and jointly explore consultancy assignments in the field of Mass Rapid Transit Systems both in India and abroad.
Sterlite Technologies
The company announced that under an agreement for the supply of a turnkey solution to a Data Management Centre (DMC), it had provided a product component. The DMC is now claiming $2.7 million in damages for losses incurred due to delays and failure to perform obligations under the agreement.
Suven Pharmaceutical
The company has executed definitive agreements to acquire 100% of the shares in Sapala Organics for Rs 2.3 billion. As part of the deal, the company will initially acquire 67.5% of the shares through a secondary transfer from Sapala Organics’ existing shareholders.
Wipro
The IT major has partnered with Hewlett Packard Enterprise (HPE) to launch an on-premise GenAI solution. According to the company, this innovative platform is designed to drive operational excellence and enhance customer engagement.