Stocks to watch: Shares of firms like Hindalco, SBI, Jindal Stainless, Tata Motors, Wipro, and others will be in focus on Wednesday’s trade.
Stocks to watch on Wednesday, June 05, 2024: Indian stock markets will likely open in green on Wednesday, despite a surprise political outcome and heavy selling seen on Tuesday. The GIFT Nifty futures suggested a gap-up start as they were quoting 126 points higher than Nifty 50 futures at 22,034.
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Ztech India: The company is set to list on will on NSE Emerge today. Its Rs 37.3 crore IPO, entirely fresh issue of 33.91 lakh shares was subscribed 371 times by investors.
GPT Infraprojects: GPT Infraprojects clinched an order valued at Rs 547 crore from Rail Vikas Nigam.
Hindalco: The company’s arm Novelis has postponed its IPO due to market conditions.
State Bank of India: The bank announced that its board of directors would convene on June 11 to contemplate long-term fund raising in single/multiple tranches of up to $3 billion through a public offer or private placement of senior unsecured notes in US Dollar or any other major foreign currency during FY 2024-25.
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Jindal Stainless: The company acquired a 100 per cent stake in Evergreat International Investment.
NLC India: On June 10, the company will mull over raising foreign currency loans through external commercial borrowings (ECB) of up to $600 million via the direct route, subject to RBI guidelines.
Tata Motors: Its step-down subsidiary of Tata Motors, is set to merge with Tata Capital, subject to regulatory approvals, including NCLT. Additionally, the board sanctioned the establishment of a wholly-owned subsidiary named TML Commercial Vehicles.
Container Corporation of India: The company signed an MOU with Shipping Corporation of India to furnish a seamless end-to-end logistics solution.
Nuvama Wealth Management: The company established its wholly-owned subsidiary – Nuvama Wealth Management (DIFC), in Dubai.
Wipro: Wipro has collaborated with Zscaler to introduce Wipro Cyber X-Ray, an AI-assisted decision support platform.
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