Buzzing stocks: The Gifty Nifty futures were trading 10.50 points or 0.05 higher at 19,449.50 in the early morning trade on Tuesday.
Stocks in focus: Domestic indices may open flat amid mixed global cues. The Gifty Nifty futures were trading 10.50 points or 0.05 higher at 19,449.50. Asian markets were trading mostly in red – China’s Shanghai Composite Index dipped 0.08%, South Korea’s KOSPI fell 0.26%, Japan’s Nikkei 225 tanked 1.13%, Asia Dow tumbled 0.86% while Hong Kong’s Hang Seng rose 0.3%. The US market ended the overnight session in green – Dow Jones Industrial Average (DJIA) rose 0.03%, S&P 500 gained 0.12% and the tech-heavy Nasdaq advanced 0.21%. BSE Sensex and NSE Nifty 50 settled at record closing highs on Monday. The broader Nifty 50 ended at 19,322.55, up by 0.7%, while the 30-share Sensex gained 485 points to 65,205, after hitting a new all-time high of 65,300.35 intraday. Bank Nifty settled above 45,150.
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Stocks to Watch on 4 July, 2023
IDFC First Bank
The bank’s board has approved the amalgamation of IDFC with the bank. The share exchange ratio for the amalgamation will be 155 equity shares of IDFC First Bank for every 100 equity shares of IDFC.
Adani Transmission
GQG Partners purchased an additional 3% stake worth Rs 2,633 crore in Adani Transmission. Its shareholding in the company increased to 6.54% from 3.54% earlier.
Adani Green Energy
The company’s board will consider approving fundraising via an issue of equity shares or any other mode including private placement, QIP and preferential issues on July 6.
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Senco Gold
The company will launch its initial public offering on July 4. The company plans to raise a total of Rs 405 crore, out of which Rs 270 crore will be raised through a fresh issue. The IPO also includes an offer for sale of 42.58 lakh shares at Rs 317 each, aggregating to Rs 135 crore. It has raised Rs 121.50 crore from 21 anchor investors at Rs 317 per share.
HMA Agro Industries
The company will make its debut on the BSE and NSE on July 4 after closing the public issue on June 23 with a 1.62 times subscription. The final issue price was fixed at Rs 585 per share.
Bajaj Finance
The company’s new loans booked during Q1 FY24 grew by 34% to 9.94 million compared to 7.42 million in Q1FY23. Deposits book stood at approximately Rs 49,900 crore as of June 2023, increasing 46% over Rs 34,102 crore as of June 2022. Assets under management rose by 32% to Rs 2.7 lakh crore in Q1FY24 against the same period last year.
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Avenue Supermarts
The D-Mart operator reported an 18.1% on-year growth in its standalone revenue at Rs 11,584.44 crore for the quarter ended June FY24, up from Rs 9,806.9 crore in the same period last year. The total number of stores as of June 2023 stood at 327.
Vedanta
The miner’s cast metal aluminium production increased by 2% on-year and 1% on-quarter to 579kt (kilo tonnes) due to efficiency in the operations. Highest-ever mined metal production in Q1FY24 at 257kt rose by 2% on-year due to higher ore production, primarily at Rampura Agucha and Kayad mines, supported by improved mined metal grades and better mill recovery.
Lupin
The company received approval from the US FDA for its abbreviated new drug application for Cyanocobalamin nasal spray.
Tube Investments of India
The company has forayed into the electric small commercial vehicle business as its subsidiary Tl Clean Mobility (TICMPL) has entered into an agreement with Anand Jayachandran for pursuing an electric small commercial vehicle business (e-SCV) through a subsidiary to be incorporated by TICMPL. TICMPL will be investing Rs 160 crore and Anand Jayachandran will be investing Rs 40 crore in the form of equity.
