 "Buzzing stocks, July 3:YES Bank, ZEE, DMart, IEX, Hindustan Zinc, KEC Int'l")
Stocks to Watch today, Wednesday, July 3, 2024: Supportive global cues, stock-specific action, and macroeconomic data will guide the stock markets on Wednesday, July 3. At 8:05 AM, GIFT Nifty futures were up 133 points at 24,337 levels.
Most indices across Asia are trading higher, led by Nikkei, and Hang Seng (up 0.7 per cent each). Overnight, the Dow Jones Industrial Average gained 0.41 per cent, the S&P 500 gained 0.62 per cent, and the Nasdaq Composite jumped 0.84 per cent after the US Federal Reserve Chair Jerome Powell noted there was progress on reining in inflation.
Against this, these could be the top buzzing stocks to watch on Wednesday, July 3, 2024:
YES Bank: The bank's loan book grew 15 per cent year-on-year (Y-o-Y) to Rs 2.29 trillion in the April-June quarter. Deposits, on the other hand, were up 21 per cent Y-o-Y to Rs 2.64 trillion.
Avenue Supermarts: The DMart chain of stores' operator reported a provisional standalone revenue of Rs 13,712 crore for the April-June quarter, up 18 per cent Y-o-Y.
The total number of stores as on June 30, 2024, stood at 371, the company said in an exchange filing while announcing its Q1-FY25 business update.
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KEC International: KEC International has won orders worth Rs 1,017 crore in the transmission & distribution (T&D), and clean energy sectors.
With this, the company's year-to-date (YTD) order intake has exceeded Rs 5,000 crore.
Hindustan Zinc: The company registered mined metal production of 263 kilo tonnes, up 2 per cent Y-o-Y, but down 12 per cent quarter-on-quarter. Saleable metal production stood at 262 kilo tonnes, up 1 per cent Y-o-Y / down 4 per cent Q-o-Q.\
Indian Energy Exchange (IEX): IEX has reported electricity volume of 10,185 MU for the month of June, with the total volume, including certificates, reaching 10,677 MU, up by 19.4 per cent compared to the previous year.
For Q1-FY25, IEX recorded an electricity volume of 28,178 MU, up 19 per cent on year. The total volume for the quarter, including certificates, stood at 30,354 MU, up 20.8 per cent over Q1-FY24.
Thyrocare Technologies: The company has entered into a Business Transfer Agreement with Polo Labs Private Limited and existing shareholders of Polo, to acquire Polo's diagnostic and pathological services business as a going concern (on a slump sale basis). The Purchase consideration for acquiring the diagnostic and pathological services business of Polo is Rs 4.26 crore.
Zee Entertainment Enterprises: Anurag Bedi, chief business officer – Zee Music, has stepped down from the office. Umesh Bansal, who is currently spearheading the Movies business, will take the additional responsibility of the Music business.
MOIL: The state-owned miner of the ore used in steel and paint production said it has recorded "best-ever" quarterly sales in the June quarter, which were up 14.5 per cent Y-o-Y. This performance was backed by record quarterly production, going up to a level of 4.70 lakh tonnes during April-June, 2024, registering a growth of 7.8 per cent Y-o-Y.