GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded flat as the index was up 4 points or 0.02% at 23,518.50 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 lost 42 points or 0.18% to settle at 23,516, while the BSE Sensex gained 36 points or 0.05% to close at 77,338.
Stocks to watch on June 20, 2024
Indus Tower
Bharti Airtel on Wednesday bought around a 1% stake in Indus Towers, by acquiring around 26.95 million shares, thus raising its stake to 48.95% from 47.95% it held earlier. The UK’s Vodafone Plc sold an 18% stake in the tower firm for 1.7 billion euros (about Rs 15,300 crore). The shares were sold at Rs 310–341.
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Reliance Industries, Aurobindo Pharma, ONGC, Bajaj Consumer, Bank of Baroda Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea
Som Distilleries and Breweries
The Madhya Pradesh government suspended Som Distilleries license after child labourers were rescued from its unit in Raisen district on Wednesday. The National Commission for Protection of Child Rights (NCPCR) rescued about 19 girls and 39 boys from the company’s Madhya Pradesh distillery.
Sun Pharmaceuticals
Sun Pharmaceutical has received a warning letter from the United States Food & Drug Administration (USFDA) for its Dadra facility, said the company in an exchange filing. The warning letter summarises violations of Current Good Manufacturing Practice (cGMP) regulations.
PNB Housing Finance
On Thursday, open market transactions involving the sale of shares in PNB Housing Finance valued at approximately Rs 830 crore are anticipated to take place between General Atlantic and Asia Opportunities V (Mauritius), as per news reports. According to the term sheet, these two funds propose to sell 1.08 crore shares, or 4.16%, of the total equity.
IOC
An agreement was made between GPS Renewables and Indian Oil Corporation. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.
Godrej Group
The proposed changes to the legal ownership, management, and interest alignment of the Godrej group’s various entities have been approved by the Competition Commission of India (CCI).
Sapphire Foods India
The division of the company’s equity shares has been approved by the board of directors, according to Sapphire Foods India, which runs KFC and Pizza Hut. Each existing equity share, which had a face value of Rs. 10, was decided to be divided into five equity shares, each of which would have a face value of Rs. 2. According to an exchange filing, this action is contingent upon shareholder approval at the forthcoming 15th Annual General Meeting (AGM).
