New Delhi: Indian indices on Wednesday plunged nearly 1 per cent owing to heavy selling after the Sensex touched a new lifetime high during intra-day trade. Auto and metal stocks were the top drags on Wednesday amid significant profit booking as uncertainty around the US Federal Reserve’s stance on rate cuts.
Here are stocks that are likely to remain in focus on Thursday, July 11, 2024:
RVNL: RVNL inked an MoU with IMS Consultancy for technical advisory services in the domain of Railways, MRTS, tunnels, roads, and the renewables sector. The railway PSU company along with German engineering company Siemens secured a Rs 766 crore contract from the Bengaluru Metro Rail Corp for the electrification of Phase 2 of the metro.
GE Power India: The company received an order worth Rs 7.7 crore order from Mangalore Refinery and Petrochemicals to supply main turbine spares within 18 months.
IndiGo: The budget carrier’s stock is likely to be in focus after Tata Group-owned rival Air India is likely to let go of 600 non-flying as part of its merger with Tata-Singapore Airlines joint venture. To be sure, Air India will aim to provide jobs within the group to those affected, PTI reported citing people familiar with the matter.
Nykaa: The Canada Pension Plan Investment Board (CPPIB) sold 1,47,34,000 shares, equalling a 0.5 per cent stake in Nykaa’s parent, FSN E-Commerce Ventures, in a block deal worth Rs 1,166.62 crore. CPPIB held a 1.47 per cent stake in Nykaa at the end of the March quarter.
Delhivery: Logistics giant Delhivery will be in focus after CPPIB also exited the company in a block deal, equalling a 3.2 per cent stake in the firm, valued at nearly Rs 1,166 crore.
Glenmark Pharmaceuticals: The pharma giant’s board cleared a proposal to sell its remaining 7.84 per cent stake in Glenmark Life Sciences worth around Rs 778 crore via an offer for sale.
Auto stocks: Tata Motors and Mahindra & Mahindra are likely to remain in focus after drastic price was introduced on Wednesday by both SUV makers to boost demand.
Zydus Lifesciences: The pharma giant received the final nod from the US health regulator to sell the generic Sacubitril and Valsartan tablets used in the treatment of adult chronic heart failure.
PowerGrid: The PSU company said it plans to raise funds worth Rs 16,000 crore in FY25 through bond issuance. The company also plans to raise its borrowing limit to Rs 15,000 crore from existing Rs 12,000 crore for FY25.
YES Bank: The SBI-majority-owned lender has reportedly garnered interest from the likes of First Abu Dhabi Bank as well as Japan’s Mitsubishi UFJ Financial and Sumitomo Mitsui Financial Groups. To be sure, YES Bank denied the stake sale reports.
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Stocks in News Today: From RVNL ot PowerGrid, here are stocks that are likely to remain in focus on Thursday, July 11, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
