Stocks To Watch Today: ACC, Aether Industries, Ambuja Cements, Bajaj Auto, UltraTech Cement
Asian shares rose on Friday after US equities snapped a two-day slide ahead of a key jobs report.
Stocks gained in Japan, Korea and Australia while US futures edged up. Markets are shut in Hong Kong and China. On Thursday, the S&P 500 rose 1.8%, led by gains in consumer discretionary shares, while the tech-heavy Nasdaq 100 surged nearly 3%.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, rose 0.88% to 16,758.59 points as of 6:50 am.
Elsewhere, OPEC+ agreed to increase the size of its oil-supply hikes by about 50% in July and August. Yet oil continued to rise.
Here are the stocks to watch in today's trade:
Bajaj Auto: Dealers are grappling with a severe shortage of inventory as the chip crunch and vendor issues are hurting the maker of Pulsar motorcycles.
UltraTech Cement: The company will invest Rs 12,886 crore towards 22.6 mtpa capacity expansion after the board approved mix of brown field and green field expansion. The move comes weeks after Adani Group aquired Holcim India's Ambuja Cements Ltd. and ACC Ltd. to emerge as the country's second largest cement maker.
GR Infraprojects: Subsidiary GR Madanpalli Pileru Highway Pvt. Ltd. has executed the concession agreement with the National Highways Authority of India.
Hindalco Industries: The company has completed the disinvestment process of Hindalco Do Brazil Industria Comercia de Alumina LTDA, a wholly owned stepdown subsidiary.
McDowell Holdings: The company approved the appointment of CA Krishna Mohan Maddula as CFO with effect from May 31, 2022.
Omaxe: The company incorporated a wholly-owned subsidiary, Worldstreet Sports Center.
Listing Today
Aether Industries: The Rs 808-crore IPO was subscribed 6.25 times.
Pledged Shares Details
Mangalore Chemicals Fertilisers: Promoter Zuari Agro Chemicals created a pledge of 60 lakh shares and revoked a pledge of 33 lakh shares on May 31.
Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala created a pledge of 7.6 lakh shares on May 30.
Insider Trades
Chambal Fertilisers & Chemicals: Promoter SIL Investments bought 40,000 shares between May 30 and May 31.
Maharashtra Seamless: Promoter Group Sudha Apparels bought 51,100 shares between May 31.
Nirlon: Promoter Group Shitaltrading & Interiors sold 10,000 shares between May 30 and May 31.
Bulk Deals
Prudent Corporate Advisory Services: Rameshchandra Chimanlal Shah bought 4.25 lakh (1.02%) shares at Rs 595.5 apiece.
Arvind: Birla Sunlife Insurance Company sold 16.29 lakh (0.62%) shares at Rs 101.12 apiece.
Block Deals
Dynamatic Technologies: Christine Hoden India bought 53,000 (0.83%) shares at Rs 1915 apiece. Wavell Investment sold 53,000 (0.83%) shares at Rs 1915 apiece.
Who's Meeting Whom
SMS Pharmaceuticals: To meet investors on June 6.
Finolex Cables: To meet investors and analysts on June 4.
Greaves Cotton: To meet investors and analysts on June 3.
Trading Tweaks
Price Band Revised From 10% To 5%: Rattanindia Enterprises
Price Band Revised From 5% To 20%: Tips Industries
Record Date Interim Dividend: Page Industries
Ex-Date Final Dividend, Special Dividend: Torrent Pharmaceuticals
Move Into Short-Term ASM Framework: Timken India, PG Electroplast, RattanIndia Enterprises
Top Research Reports
Q4 FY22 Earnings Review - In-Line; BFSI, Commodities Drive Earnings: Motilal Oswal
Bharti Airtel, Cipla, Tech Mahindra And More - Top Stock Picks For June By Axis Securities
Metals, Mining Q4 Earnings Review - Cost Pressure Persists; Margins Fizzles Out: Centrum Broking
Automobiles - Steady Performance Improvement, Backed By Gradual Rural Recovery: Reliance Securities
MAS Financial Services - Recent Correction In Market Provides Good Opportunity: HDFC Securities
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