New Delhi: Indian indices continued their upward march to new highs on Wednesday as the Sensex rose to 632.85 points, or 0.79 per cent, to 80,074.30 while the Nifty closed at 24,286.50, up 162.65 points, or 0.67 per cent. The market cap of BSE-listed companies jumped to a record high of Rs 445.43 lakh crore on Wednesday.
Here are stocks that are likely to be in focus today:
PFC, REC: Stocks of the power sector finance behemoths will be in focus after US brokerage Bernstein stated that investors were likely to have underestimated the loan growth of PFC and REC. The two PSUs’ asset quality concerns have lowered compared to the historical trend, it said, while forecasting a 12-13 per cent GACR earnings growth.
ABB: The tech giant said its PixelPaint technology had been selected by Mahindra and Mahindra for its new EV paint facility. The technology uses 42 robots if the IRB 5500 family to paint contrasting roofs and pillars for M&M, which will be the first auto OEM to use the technology in India.
Vedanta: The commodities giant reported a 3 per cent jump in its annual aluminium production to 5,96,000 tonnes during the first quarter, while its oil and gas output was down 17 per cent during the same period, Vedanta shared in its Q1 update.
L&T: Fitch Ratings affirmed the ‘BBB+’ rating with a stable outlook on Larsen & Toubro, it said in a statement. The rating agency stated that the affirmation indicated the construction giant’s strong financial structure and financial flexibility. L&T is expected to maintain comfortable leverage despite higher growth investments, it said.
Tyre stocks: The tyre industry body, the Automotive Tyre Manufacturers’ Association flagged a severe crunch of domestic rubber availability faced by its members which may lead to potential disruptions. The availability crunch remains despite elevated rubber prices, the industry body said.
Star Health Care: The insurer on Wednesday launched its doorstep healthcare service called Home Health Care in 50 cities. In partnership with Care24, Portea, CallHealth, Athulya Homecare and Argala.
Brigade Enterprises: The realty company on Wednesday said that it plans to develop a Rs 1,100 crore revenue potential residential project in West Bangalore’s Tumkur Road”, according to a regulatory filing.
Persistent Systems: The company’s wholly owned US unit acquired Starfish Associates with an eye on expanding its AI business offerings. The deal was finalised in the form of a stock purchase agreement worth $20.7 million.
Stocks in News Today: All eyes will be on the stocks of ABB, vedanta, PFC and REC, among other companies, on Thursday, July 4, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
