GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap up opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 102 points or 0.42% at 24,347 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 fell 18.10 points or 0.07% to settle at 24,124, while the BSE Sensex fell 35 points or 0.04% to close at 79,441.45.
Stocks to watch on July 3, 2024
Godrej Industries
Members of the Adi Godrej and Nadir Godrej families will acquire cousin Rishad Naoroji’s 12.65% stake in Godrej Industries as part of the family settlement that was announced two months ago, the firm said in a stock exchange filing on Tuesday.
HDFC Bank
HDFC Bank released its April-June quarter shareholding data on Tuesday, showing that the ownership of foreign institutional investors in the private lender has come down during the quarter under review. The FII ownership in HDFC Bank as of June 2024 stands at 54.8%, as per the BSE data, below the 55% mark. This indicates greater MSCI inflows.
ITC
With the launch of ‘Sunfeast Dark Fantasy Choco Fills’ in Nepal, ITC’s FMCG business has now expanded its export footprint and has reached to over 70 countries. Earlier in August 2023, the subsidiary of ITC in Nepal, Surya Nepal Private Limited commissioned a biscuit manufacturing line facility near Biratnagar in eastern Nepal.
Motilal Oswal Financial Services
Motilal Oswal Financial Services said that SEBI has issued an administrative warning. It asked the company to be cautious and exercise vigilance regarding minor operational matters in the future.
YES Bank
YES Bank reported 15% year-on-year growth in loans and advances for the first quarter ended June 2024. The company’s loans came in at Rs 2.29 lakh crore in the Q1 of FY25, compared with Rs 2 lakh crore in the same quarter of last year. While, deposits increased 21% year-on-year to Rs 2.64 lakh crore in the quarter ending June against Rs 2.19 lakh crore it posted a year ago in the same period.
Hindustan Zinc
The company reported a mined metal production of 263 kilotonnes, an increase of 2% on year, but a drop of 12% sequentially. Saleable metal production stood at 262 kilotonnes, up 1% YoY and a 4% dip on quarter. Refined zinc production was reported at 211 kilotonnes, up 1% over the same period in the last fiscal, but dropped by 4% sequentially, while refined lead production reached 51 kilotonnes, showing a 2% YoY increase and a 3% decline versus the previous quarter.
KEC International
KEC International, an engineering and manufacturing firm, announced that it has won new orders worth Rs 1,017 crore in the transmission & distribution (T&D) and clean energy sectors. The orders secured include an engineering, procurement, and construction (EPC) project and tower supply in the Middle East, along with a contract for the balance of the system package for a 625 MWp Solar PV project in Rajasthan from a subsidiary of an undisclosed PSU in the renewable power generation segment.
Rail Vikas Nigam
Rail Vikas Nigam said that it emerged as the lowest bidder for an order worth Rs 132.59 crore from the Central Railways. The company said it has been declared the lowest bidder for overhead equipment (OHE) modification work for upgrading the existing 1 x 25-kilovolt electric traction system to a 2 x 25-kilovolt AT feeding system in the Wardha-Ballarshah section of the Nagpur division of Central Railway to meet a loading target of 3,000 MT.
