Stocks to watch: Shares of firms like Infosys, Titan, Indian Oil, JK Cement, Tata Steel, Dabur, and others will be in focus on Friday’s trade.
Stocks to Watch on July 7: Nifty futures traded 61.5 points, or 0.31 per cent, lower at 19,488, signaling that Dalal Street was headed for a negative start on Friday. Here’s a slew of stocks that will be in focus today for various reasons.
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Infosys: IT company Infosys set up a new subsidiary in Canada under its US arm Infosys Public Services. IPS Canada announcement is the latest development in a series of investments made by Infosys which has expanded the employee count to over 7,000 with a commitment to increase to 8,000 employees by 2024.
IOC: Indian Oil Corporation to invest Rs 54,000 crore on various major projects in Tamil Nadu in the next few years. The projects include the new 9 MTPA grass-roots refinery along with CPCL at an estimated cost of Rs 35,580 crore at Nagapattinam, product pipelines at Rs 2,600 crore, city gas distribution projects at Rs 7,570 crore and gas pipelines, including for LPG, at Rs 2,225 crore.
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Titan: Titan registered a 20% on-year revenue growth for the quarter ended 30 June, and the key consumer businesses recorded double-digit growth. The flagship jewellery portion saw a 21% on-year growth.
Ujjivan Small Finance Bank: The gross loan book of Ujjivan Small Finance Bank rose 31% on-year to Rs 25,346 crore as on June 30; gaining 5% on a sequential basis.
Dabur: Dabur India estimated that first-quarter sales increased more than 10%, as easing inflation allowed customers to spend more on the consumer goods company’s products. Demand trends in both urban and rural India improved during the quarter, Dabur said.
JK Cement: JK Maxx Paints invested an amount of Rs 60.24 crore towards the acquisition of 20% equity shares of Acro Paints. Following this second tranche of investment, JKMPL has a total of 80% equity share capital of APL with immediate effect.
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Suzlon: Suzlon’s board of directors will convene to discuss the possibility of fundraising following the recent rights issue.
Tata Steel: Tata Steel’s domestic production of crude steel clocked in at 5.01 million tonnes, growing 2% on-year for the quarter ended 30 June, 2023. The production fell sequentially as a result of planned maintenance shutdowns.
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