Adani Ports, Zydus Life, Paytm, Zomato among 11 stocks to track on June 18

Stocks to watch on June 18: Indian markets could open with gains on Tuesday, taking cues from robust global trends. 

At 6:33 AM, GIFT Nifty futures signalled a strong start, trading 135 points up at 23,601.50 compared to Nifty futures.

On the previous day, US markets settled higher, with Nasdaq and S&P 500 reaching record highs. The Dow Jones rose 0.49 per cent, while the S&P 500 and Nasdaq surged 0.77 per cent and 0.95 per cent, respectively.

In the domestic market, foreign institutional investors (FIIs) bought shares worth Rs 2,175.86 crore on June 14. Concurrently, domestic institutional investors (DIIs) purchased shares worth Rs 655.76 crore.

Meanwhile, here are few stocks to keep an eye on June 18

Adani Ports: The company received environmental nod for Rs 45,000 crore Mundra port expansion.

Zydus Lifesciences Ltd: The US FDA has classified Zydus Lifesciences Ltd's injectable manufacturing unit at Pharmez SEZ, Matoda, as Official Action Indicated (OAI) after an inspection in March. This requires the site to undergo administrative sanctions and implement corrective actions.

Biocon: Following a good manufacturing practice (GMP) inspection at its active pharmaceutical ingredient (API) manufacturing facility in Visakhapatnam, Andhra Pradesh, on June 14, 2024, Biocon received three observations from the US FDA. The company plans to respond within the specified timeframe.

Puravankara: Provident Housing Limited, a subsidiary of Puravankara Limited, has expanded its land holdings at the "Provident Adora De Goa" project in Dabolim, Goa. The acquisition, valued at Rs 90 crore, was financed through a loan from Piramal Enterprises Limited. This project, registered with GOA RERA, has a potential Gross Development Value (GDV) of 259,000 sq ft at Rs 7,000 per sq ft.

Adani Enterprises: Gautam Adani and entities from the Adani Group have acquired more than a 2 per cent stake in Adani Enterprises through open market purchases between September 2023 and June 2024. This increased their combined voting capital from 71.95 per cent to 73.95 per cent.
 

TCS: Tata Consultancy Services faced an adverse judgement in the US District Court in Dallas, Texas, where it was found liable for misappropriation of trade secrets under the Defend Trade Secrets Act of 2016. The court ordered TCS to pay $56.15 million in compensatory damages and $112.30 million in exemplary damages in a lawsuit filed by Computer Sciences Corporation (CSC)/DXC Technology Company (DXC).

Bharti Airtel: Bharti Airtel Ltd. has paid Rs 7,904 crore to the Department of Telecom, settling all outstanding deferred liabilities related to spectrum acquired in auctions from 2012 and 2015. These liabilities carried interest rates of up to 10 percent.

Paytm, Zomato: Paytm, owned and operated by One97 Communications Ltd., is reportedly in advanced talks with Zomato Ltd. to sell its movie and events ticketing business. This strategic move is aimed at revitalising Paytm amid declining sales. Discussions are ongoing with other interested parties, and no final decision has been reached yet, according to reports.

Jubilant Pharma: Jubilant Draximage Inc., a subsidiary of Jubilant Pharma Limited, announced a $50 million investment to expand its PET radiopharmacy network with six new locations across the US These facilities are expected to be operational by FY 2027-28.

Lodha: Lodha announced that the High Court has issued its final order on the stamp duty payable for one of its projects in Wadala, worth Rs 118.1 crore, which the company has already deposited. This resolves the litigation.