Stocks to watch: Shares of firms like Adani Green, Tata Motors, Bajaj Finance, RVNL, Lupin, and others will be in focus on Monday’s trade.
Stocks To Watch On June 10: Domestic markets navigated a highly volatile trading week with significant swings in both directions but ended up near all-time highs. In today’s trade, shares of Bajaj Finance, Kronox Lab, IDBI_Bank, Dr Reddy’s, Godawari Power, and Jubilant Pharmova among others will be in focus due to various news-related developments.
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Adani Green Energy: A Bloomberg report has said that Adani Group plans to invest over $1 billion in setting up projects in Sri Lanka to generate electricity from wind.
Tata Motors: The auto-arm of Tata Group has Tata Motors has Altroz Racer, a sporty version of its Altroz hatchback. The Racer is available in three variants at a starting ex-showroom price of Rs 9.49 lakh.
Tata Motors has also bolstered the standard Altroz lineup with the introduction of two new variants, XZ LUX and XZ+S LUX, and an upgrade to the existing XZ+OS variant. These new variants offer a wider range of powertrain options, including petrol manual, petrol DCA, diesel, and CNG.
Mphasis: Reports suggest BCP Topco IX Pte, an affiliate firm of Blackstone Group, will likely sell a minimum 10 per cent stake in the IT company through block deal on Monday, at a base price of Rs 2,350 per share.
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It has an option to expand the stake sale to 15.1 per cent, leading to a block deal size of roughly Rs 6,697 crore.
Samvardhana Motherson International: Moody’s Rating (Moody’s) has upgraded the credit rating of Samvardhana Motherson International (SAMIL) and Samvardhana Motherson Automotive Systems Group B.V (SMRP B.V), a wholly owned subsidiary of SAMIL.
The long term rating for both the companies has been upgraded from Ba1 (under review for upgrade) to Baa3 (Outlook Stable).
Gland Pharma: The company appointed Srinivas Sadu as Executive Chairman and CEO of the company.
Magnum Ventures: The Board of Directors have decided to shut down the operations of Paper Mill for a period of one month starting from June 08, 2024, for the purpose of repair, restoration, upgradation, modification of existing machineries, annual maintenance of Paper Unit to improve the quality and quantity of the product.
Bajaj Finance: Bajaj Housing Finance has filed a draft red herring prospectus (DRHP) with the Indian market regulator to launch a Rs 7,000 crore initial public offering (IPO).
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Dr Reddy’s: Dr Reddy’s said its manufacturing unit in Andhra Pradesh received four observations from US FDA.
Lupin: Lupin has entered into a BTA with Lupin LifeSciences to carve out its trade generics business in India effective July 1.
RVNL: RVNL emerged as the lowest bidder for a project of Southern Railways worth Rs 156.47 crore.
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