Stocks To Watch: Vodafone Idea, Tata Steel, UltraTech Cement, Titan, BEL, Cochin Shipyard
Here are the stocks to watch before going into trade today.
Bharat Electronics Ltd. will be in focus on Monday after it received a contract worth Rs 3,172 crore for supply of sighting and fire control system for Indian Army tanks and got additional orders worth Rs 481 crore for meteorological equipment.
Vodafone Idea Ltd. joined its peers Reliance Jio Infocomm Ltd. and Bharti Airtel Ltd. to raise rates for prepaid and post-paid consumers by 10-21%, effective July 4.
Cochin Shipyard Ltd. bagged a contract to build vessels from a Norway company, while UltraTech Cement Ltd. commissioned additional capacity in Andhra Pradesh and Odisha.
Most Asian markets declined Monday after data showed China's manufacturing activity struggled to come out of negative territory, raising concern about the world's second largest economy.
The Nikkei 225 was 0.50% higher as of 06:44 a.m. The S&P ASX 200 and KOSPI were trading 0.40% and 0.26% lower, respectively.
US stocks faced uncertainty as the quarter concluded, following a robust surge driven by speculation that the Federal Reserve may initiate rate cuts within the year.
The S&P 500 Index and Nasdaq Composite fell 0.12% and 0.41%, respectively as on Friday. Dow Jones Industrial Average declined 0.12%.
Brent crude was trading 0.28% higher at $85.24 a barrel. Gold was lower by 0.04% at $2,325.73 an ounce.
The GIFT Nifty was trading 14.5 points or 0.06% higher at 24,134.50 as of 06:47 a.m.
India's benchmark stock indices closed higher on a weekly basis for the fourth consecutive week, marking their best month so far in 2024. However, on Friday, they snapped their four-day record run to end lower.
On Friday, the Nifty closed 0.14%, or 33.90 points, lower at 24,010.60, and the Sensex fell 0.27%, or 210.45 points, to end at 79,032.73.
Overseas investors turned net sellers of Indian equities on Friday after a day of buying. Foreign portfolio investors offloaded stocks worth Rs 23.1 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors turned net buyers after a session of selling and mopped up equities worth Rs 6,658.3 crore, the NSE data showed.
The Indian rupee strengthened by 7 paise to close at Rs 83.39 against the US dollar.
Meanwhile, the yield on the 10-year government bond closed flat at 7.01%, even as the JPMorgan Chase & Co. began adding domestic gilts to its benchmark emerging-market bond index.
Stocks To Watch
Bharat Electronics: The company received a contract worth Rs 3,172 crore from Vehicles Nigam to supply sighting and fire control system for Indian Army tanks and received additional orders worth Rs 481 crore for meteorological equipment.
Vodafone Idea: The telco joined its peers Reliance Jio and Bharti Airtel to raise rates for prepaid and post-paid consumers by 10-21%. The new plans will come into effect from July 4.
Cochin Shipyard: The company’s unit signed a pact with Norway's Wilson ASA for constructing four 6,300 TDW dry cargo vessels and agreement for 4 additional vessels to be formally contracted within Sept 19, 2024. The overall project cost for 8 vessels is about Rs 1,100 crore.
UltraTech Cement: The company commissioned an additional 3.35 MTPA clinker and 1.8 MTPA grinding capacity at its Tadipatri unit in Andhra Pradesh. This increased capacity of grinding unit in Jharsuguda, Odisha, by 0.4 MTPA.
Jindal Stainless: The company acquired 100% stake of Sulawesi Nickel Processing Industries Holdings PTE, Singapore, for setting-up a joint venture in Indonesia for investing, developing, constructing, and operating a stainless-steel melt shop in Indonesia.
Tata Steel: The company converted debt holding of $565 million in unit T Steel Holdings into equity.
Titan: The company formed a 76-24 JV with Rhythm Jewellery in Bangladesh for manufacturing jewellery products.
TVS Motor: The company acquired an additional stake in TVS Credit Services for Rs 283 crore.
Dr Reddy's Laboratories: The company partnered with Zydus Life for co-marketing of Pertuzumab biosimilar.
Orchid Pharma: The company partnered with Cipla to launch antibiotic Cefepime-Enmetazobactam in India.
Godrej Properties: The company acquired leasehold rights for 11-acre land parcel in Pune, offering developable potential of 2.2 million square feet with an estimated revenue potential of Rs 1,800 crore.
eMudhra: The company acquired 100% of US-based TWO95 International Inc through its wholly owned subsidiary eMudhra Inc, USA to strengthen the company’s presence and positioning in the US market.
Coromandel International: The company unveiled Magnesium-Enriched Paramfos Plus in Bengaluru to boost crop yield and quality.
GAIL (India): The company's advances its net-zero target for Scope-1 and Scope-2 greenhouse gas emissions to 2035.
Aurobindo Pharma: The company’s unit acquired entire share capital of Ace Laboratories, UK, and made it a wholly owned subsidiary of Agile Pharma BV, The Netherlands.
IPO Offering
Vraj Iron and Steel: The public issue was subscribed to 119.04 times on day3. The bids were led by institutional investors (163.9 times), non-institutional investors (208.81 times), retail investors (54.93 times).
Block Deals
Samhi Hotels: GTI Capital Alpha sold 1.03 crore shares (4.74%) at Rs 187.1 apiece, while Morgan Stanley Asia Singapore Pte bought 30.92 lakh shares (1.4%) at Rs 187.1 apiece, ICICI Prudential Mutual Fund bought 21.38 lakh shares (0.97%) at Rs 187.1 apiece, Abu Dhabi Investment Authority - Behave bought 11.35 lakh shares (0.51%) at Rs 187.1 apiece, JM Financial Mutual Fund bought 10.69 lakh shares (0.48%) and among others at Rs 187.1 apiece.
HCL Technologies: Fidelity Investments sold 1.24 crore shares (0.45%), while ICICI Prudential Mutual Fund bought 69.52 lakh shares (0.25%), Morgan Stanley Asia Singapore PTE bought 10.31 lakh shares (0.03%), and Citigroup Global Markets Mauritius bought 8.86 lakh shares (0.03%), among others, at Rs 1440.5 apiece.
Solara Active Pharma Science: Authum Investment and Infrastructure Limited bought 20 lakh shares (4.16%) while, TPG Growth IV SF PTE sold 20 lakh shares (4.16%) at Rs 495 apiece.
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Fidelity Sells HCLTech Shares Worth Rs 1,788 Crore; Mutual Funds, Morgan Stanley Among Buyers
Bulk Deals
Borosil: Kiran Kheruka sold 16.32 lakh shares (1.36%) at Rs 318.08 apiece, Pradeep Kumar Kheruka sold 7.64 lakh shares (0.64%) at Rs 318.05 apiece, Rekha Kheruka sold 7.48 lakh shares (0.62%) at Rs 318.06 apiece, while Carnelian Asset Management & Advisors Private Limited bought 13.85 lakh shares (1.16%) at Rs 318.05 apiece, Carnelian Structural Shift Fund bought 6.6 lakh shares (0.55%) at Rs 318.05 apiece.
HFCL: Nextwave Communications sold 200 lakh shares (1.38%) at Rs 107.6 apiece.
Neogen Chemicals: Haridas Thakarshi Kanani sold 14.95 lakh shares (5.66%) at Rs 1611.14 apiece, while Custody Bank of Japan Ltd Re Rb Amundi India Small Cap Equity Mother Fund bought 7.7 lakh shares (2.91%) at Rs 1610 apiece, India Acorn Icav bought 2.51 lakh shares (0.95%) at Rs 1610 apiece.
Omaxe: Ebisu Global Opportunities Fund Limited bought 26.06 lakh shares (1.42%) at Rs 109.55 apiece, Nomura Singapore Limited sold 26.06 lakh shares (1.42%) at Rs 109.5 apiece.
Ugro Capital: Societe Generale bought 5 lakh shares (0.53%) at Rs 290.71 apiece.
Insider Trades
Deepak Nitrite: Promoter Ila D Mehta bought 1.46 lakh shares on June 26.
Tide Water Oil (India): Promoter Standard Greases & Specialities Private Limited bought 48,081 shares on June 27.
Styrenix Performance Materials: Promoter Shiva Performance Materials sold 29 lakh shares on June 27.
Star Cement: Promoter Laxmi Chamaria sold 84,354 shares on June 24 and 25.
Saurashtra Cement: Promoter Promilla Khanna sold 80,000 shares between 19 and 26.
Steel Exchanger India: Promoter Umashiv Garments sold 1 crore shares on June 26.
Pledge Share Details
Styrenix Performance Materials: Promoter Shiva Performance Materials created a pledge for 35.17 lakh shares.
Trading Tweaks
Price band Changes from 5% to 20%: Tata Investment Corp, Wockhardt Pharma.
Ex/record Dividend: GHCL Textiles, GHCL, Geojit Financial Services.
Ex/record AGM: Tata Communications.
Ex/record Demerger: Oriental Carbon & Chemicals.
Moved in short-term Framework: PNB Gilts, Titagarh Rail Systems.
Who’s Meeting Whom
IFGL Refractories: To meet analyst and Investors on July 3.
Nazara Technologies: To meet analyst and Investors on July 3.
F&O Cues
Nifty July futures up by 0.15% to 24,132 at a premium of 122 points.
Nifty July futures open interest up by 1.65%.
Nifty Bank July futures down by 0.73% to 52,530 at a premium of 187 points.
Nifty Bank July futures open interest up by 0.8%.
Nifty Options July 4 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 23,000.
Bank Nifty Options July 3 Expiry: Maximum Call Open Interest at 53,000 and Maximum Put open interest at 50,000.
Securities in ban period: India Cement, Indus Tower.