Stocks to watch: Shares of firms like Zomato, Paytm, Adani Ent, Wipro, Vi, TCS, Indigo, LIC, and others will be in focus on Tuesday’s trade.
Stocks to watch on June 18: Domestic indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights. In today’s trade, shares of Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS among others will be in focus due to various news developments.
Vodafone Idea: Vodafone Idea is preparing to sell its entire $2.3 billion stake in Indus Towers through block deals next week. The stake, totaling 21.5 per cent and held through various entities, may be divested fully or partially based on market demand. This move aligns with Vodafone Idea’s strategy to secure funds for its expansive 5G rollout and bolster 4G coverage.
IndiGo: According to the Directorate General of Civil Aviation, IndiGo’s domestic passenger market share rose to 61.6 per cent in May from 60.6 per cent in April.
Pidilite Industries: Pidilite Industries’ joint venture, ICA Pidilite Private Ltd, has entered into an agreement with Industria Chimica Adriatica SPA (ICA) for the licensing of specific UV technology. This strategic move aims to enhance Pidilite’s capabilities in its niche sectors.
Central Bank of India: The Reserve Bank of India (RBI) has levied fines of Rs 1.45 crore on Central Bank of India and Rs 96.4 lakh on Sonali Bank PLC for non-compliance issues related to loans, advances, and Know Your Customer (KYC) norms.
Brightcom Group: Brightcom Group has committed to releasing its annual results by July 31. Trading of its shares on both BSE and NSE remains suspended pending compliance with the NSE’s master circular. Despite delays, the company is optimistic about avoiding prolonged suspension by reporting its Q3 and Q4 FY24 results by June 11.
LIC: LIC has clarified recent reports regarding its potential entry into the health insurance market through acquisition. The company stated that while it evaluates various strategic opportunities, including partnerships and investments, no formal proposal for such a venture has been initiated at this time.
SpiceJet: SpiceJet’s market share dropped to 4.0 per cent from 4.7 per cent, according to the Directorate General of Civil Aviation.
RIL: Reliance Jio’s technology and telecom industry collaboration with TM Forum has seen an 80% increase in resource contribution from its members, chairman Akash Ambani said.
Hindustan Aeronautics: Hindustan Aeronautics Limited (HAL) said the Defence Ministry has issued a request for proposal (RFP) for 156 light combat helicopters (LCH).
Zomato, Paytm: Online food delivery platform Zomato said on Sunday that it is in talks with Paytm to acquire the financial technology company’s movies and events business.
Wipro: Wipro extended its partnership with Hanesbrands, an apparel brand, to further drive its digital transformation, business growth, and enhance long-term profitability.
Bharti Airtel: Bharti Airtel prepaid Rs 7,904 crore to the department of telecom to clear high cost deferred liabilities for spectrum acquired in 2012 and 2015.
TCS: A US court has ruled that Tata Consultancy Services is liable for misappropriation of trade secrets and levied penal charges of around $194 million on the IT major.
Adani Enterprises: Adani Group’s promoter entities, including billionaire Gautam Adani raised their stake in the flagship entity Adani Enterprises by just over 2%.
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