Stocks To Watch: Coal India, Aditya Birla Capital, Paras Defence, GAIL, RateGain Travel, SJVN

Stocks to watch before going into trade today.

<div class="paragraphs"><p>Stock graphical analysis. (Source:&nbsp; freepik)</p></div>
Stock graphical analysis. (Source: freepik)

Asia stock futures rose after a renewed rally in tech giants pushed Wall Street higher, with focus turning to Friday’s jobs report amid bets the Federal Reserve will pause its interest-rate hikes in June.

Contracts for equity benchmarks in Japan, Hong Kong and Australia advanced. The frenzy for artificial intelligence stocks saw Nvidia Corp. climb 5%, leading gains in the Nasdaq 100. Traders also geared up for the monthly jobs report on Friday, with forecasters projecting a moderation in the pace of hiring that could potentially allow the Fed to pause its tightening policy in June.

The S&P 500 rose 1% on Thursday, reclaiming its 4,200 mark. A contrarian indicator from Bank of America Corp. that tracks Wall Street strategists’ average recommended allocation to stocks is the closest it has been to notching a “buy” signal in over six years.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.60%. Crude advanced to trade around $74-mark, while Bitcoin was below 27,000-level.

At 05:37 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 0.38% at 18,634.

Domestic benchmarks closed in red for the second day in a row, dragged down by losses in private banks and non-banking financial stocks. The Indian rupee strengthened against the U.S. dollar, with the highest jump in 36 days to close at the best level since May 17.

Foreign investors snapped their eight-day buying streak to turn sellers and sold equities worth Rs 71.07 crore. On the other hand, domestic institutional investors turned buyers, ending two days of selling, and bought stocks worth Rs 488.93 crore.

Stocks To Watch: Coal India, Aditya Birla Capital, Paras Defence, GAIL, RateGain Travel, SJVN

Stocks To Watch

  • Coal India: The government will exercise the greenshoe option in the offer for sale and offload another 9.24 crore shares on the second day after the issue was subscribed 3.46 times on the first day.

  • Aditya Birla Capital: The company will raise Rs 1,250 crore via preference issue 6.06 crore shares to Grasim Industries and and 1.51 crore shares to Surya Kiran Investment, respectively, at Rs 165.1 apiece.

  • AstraZeneca Pharma India: The company has received permission from Central Drugs Standard Control Organisation to import, sell and distribute Tremelimumab (Imjudo) concentrate, used in the treatment of patients with liver disease unresectable hepatocellular carcinoma.

  • NHPC: The company signed an MoU with Nepal’s Vidhyut Utpadan Company for joint development of 480 MW Phukot Karnali hydroelectric project in Kalikot district of Karnoli province of the neighbouring nation.

  • SJVN: The company signed a project development agreement of 669 MW Lower Arun Hydro Electric Project in Nepal. The company is also developing 217 km long associated transmission network for power evacuation and export to India.

  • NTPC: NTPC Green Energy, a wholly owned subsidiary of the company, signed a deal with Uttar Pradesh Rajya Vidyut Utpadan Nigam to develop renewable energy parks and projects in the state.

  • MOIL: The company recorded 43% growth year-on-year in manganese ore production during May at 1.53 lakh tonnes and 72% rise on year in sales at 1.53 lakh tonnes

  • GAIL (India): The company infused in JBF Petrochemicals Rs 2,101 crore, including equity worth Rs 625 crore and debt worth Rs 1,476 crore, under the resolution plan for the latter. With this, JBF Petrochemicals has become a wholly owned subsidiary of GAIL.

  • Paras Defence & Space Technologies: The company and Israel-based Controp Precision Technologies have formed a 30:70 joint venture to manufacture electro optic/infra-red systems for various applications.

  • Aster DM Healthcare: The entered hospital operation and management agreement with 130-bed Padmavathy Medical Foundation, based in Kollam, Kerala.

  • Central Bank of India: The bank entered a strategic co-lending partnership with India Shelter Finance Corporation Ltd. to offer MSME loans.

  • Prism Johnson: Of the proposed investment to acquire 45% stake in Renew Green (MPR Two), the company has acquired 72.76 lakh shares for Rs 7.28 crore. The remaining amount would be invested in one or more tranches by June 2024.

  • Can Fin Homes: Deputy Managing Director Amitabh Chatterjee, who was deputed from Canara Bank, resigned on June 01, 2023, due to his repatriation and transfer back to Canara Bank.

  • Affle (India): Affle International Pte, a wholly owned Singapore subsidiary of the company, has completed 100% acquisition of YouAppi Inc.

  • Tata Motors: The company reported a 2% decline year-on-year in domestic sales performance at 73,448 units during May. Domestic passenger vehicle sales grew 6% on year, while commercial vehicle sales dipped 12% year-on-year.

  • Hero Motocorp: The company reported a 7% rise year-on-year in sales during May at over 5.19 lakh units.

  • India Infrastructure Trust: The company appointed Pooja Aggarwal as CEO and Darshan Vora as CFO, effective June 1.

Block Deals

Healthcare Global Enterprises: ACESO Company Pte bought 35.75 lakh shares (2.57%), BS Ajaikumar sold 35.75 lakh shares (2.57%) at Rs 320 apiece.

Bulk Deals

  • KDDL: Siddharth Sunder Iyer bought 2.5 lakh shares (1.99%) at Rs 1,071.97 apiece, Elevation Capital V sold 3.37 lakh shares (2.69%) at Rs 1,070.59 apiece.

  • MTAR Technologies: Societe Generale bought 4.17 lakh shares (1.35%) at Rs 1,880 apiece, Leelavathi Parvatha Reddy sold 3.47 lakh shares (1.13%) at Rs 1,880.04 apiece.

  • RateGain Travel Technologies: Aditya Birla Sun Life Mutual Fund bought 25.34 lakh shares (2.34%) at Rs 375 apiece, Societe Generale bought 9.11 lakh shares (0.84%) at Rs 375 apiece, Avataar Holdings sold 55 lakh shares (5.08%) at Rs 375.02 apiece.

Pledge Share Details

Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala created a pledge of 1.90 lakh shares on May 30.

Trading Tweaks

  • Ex-Date Spin Off: Edelweiss Financial Services

  • Record Date Spin Off: Edelweiss Financial Services

  • Ex-Date Final Dividend: IndusInd Bank, Infosys, JSW Energy, Havells India, Mahindra CIE Automotive, Page Industries

  • Record Date Final Dividend: IndusInd Bank,Infosys, Page Industries

  • Ex-Date Interim Dividend: Edelweiss Financial Services

  • Record Date Interim Dividend: Edelweiss Financial Services

  • Move Into Short-Term ASM Framework: Kaynes Technology India, Dilip Buildcon, Force Motors

  • Move Out of Short-Term ASM Framework: Adani Enterprises, Andhra Cements.

Who’s Meeting Whom

  • UltraTech Cement: To meet analysts and investors on June 2.

  • Persistent Systems: To meet analysts and investors on June 2.

  • Five-Star Business Finance: To meet analysts and investors on June 2.

  • Vedant Fashions: To meet analysts and investors on June 2.

  • WPIL: To meet analysts and investors on June 2.

  • Kolte-Patil Developers: To meet analysts and investors on June 2.

  • Control Print: To meet analysts and investors on June 2.

F&O Cues

  • Nifty June futures ended at 18,574.8, a discount of 54.75 points.

  • Nifty June futures fell 5.11% and 9,515 shares in Open Interest.

  • Nifty Bank June futures ended at 43,984.4, a discount of 257.25 points.

  • Nifty Bank June futures rose 3.39% and 2,852 shares in Open Interest.

  • Securities added to the ban period: Nil

  • Securities removed from the ban period: Nil.

Stocks To Watch: Coal India, Aditya Birla Capital, Paras Defence, GAIL, RateGain Travel, SJVN

Research Reports

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