 "Stocks to Watch, July 4:HDFC Bank, Bajaj Fin, Bandhan Bank, ITD Cementation")
Stocks to Watch, Thursday, July 4, 2024: India stock markets may start gap-up for a second consecutive day on Thursday amid strong global cues. At 7:40 AM, GIFT Nifty was ruling 97 points higher at 24,462 levels, suggesting new record highs for the benchmarks.
In Asia, markets were trading with a positive bias with Japan's Topix crossing all-time high of 2,886.50, previously set in December 1989. The Topix jumped 0.45 per cent, while the Nikkei 225 rose 0.3 per cent.
Among other indices, ASX200 gained 1 per cent, Kospi 0.8 per cent, and Hang Seng 0.46 per cent.
Overnight, the S&P 500 added 0.51 per cent, and the Nasdaq Composite rose 0.88 per cent to end at record closing highs each. The Dow Jones Industrial Average, however, lost 0.06 per cent.
Back home, global cues, FII flows, and weekly F&O expiry will guide the markets.
Meanwhile, here is a list of stocks to watch today, July 4, 2024:
HDFC Bank: Mitsubishi UFJ Financial Group Inc.'s negotiations for a minority stake in HDFC Bank's consumer lending unit are stalling due to differences over how much say it will have in company strategy, Bloomberg reported. While MUFG is still interested in HDB Financial Services Ltd., the talks may face further delays or even fall apart, the report added.
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Bajaj Finance: The non-bank finance company (NBFC) reported new loans' growth of 10 per cent Y-o-Y to 10.97 million, with asset under management (AUM) rising 31 per cent to Rs 3.54 trillion. Bajaj Finance's deposit book grew 26 per cent on year to Rs 62,750 crore for the end of Q1 FY25.
Suraj Estate Developers: Suraj Estate has entered into a definitive agreement for sale today with Clearing Corporation of India. The agreement pertains to the sale of an additional area comprising othree floors to be constructed over existing CCIL Bhavan. The sale covers a carpet area of about 22,410 square feet valued at Rs 89.78 crore.
GE T&D India: The company has received an order worth 64 million euros from Grid Solutions SAS, France, for the supply and supervision of high voltage products.
Bandhan Bank: Bandhan Bank Q1-FY25 loan book grew 21.8 per cent year-on-year (Y-o-Y) to Rs 1.03 trillion, the bank said in an exchange filing.
Deposits, meanwhile, were up 22.8 per cent Y-o-Y to Rs 1.08 trillion. CASA ratio stood at 36 per cent vs 37.1 per cent Q-o-Q.
Suryoday Small Finance Bank: The small finance bank's gross advances surged 42 per cent year-on-year to Rs 9,037 crore in Q1-FY25. Deposits, too, jumped 42 per cent to Rs 8,137 crore over a year ago.
CASA ratio improved to 17.7 per cent from 14.9 per cent reported in Q1-FY24. Disbursements rose 46 per cent Y-oY in the June quarter to Rs 1,740 crore with gross non-performing assets falling to 2.67 per cent from 3 per cent a year ago.
ITD Cementation: According to reports, Promoter Italian Thai Development Public Co. is looking to divest its investment in the company.
Yatharth Hospital & Trauma Care Services: ICICI Prudential Mutual Fund has bought an additional 2.3 per cent stake in Yatharth Hospital at an average price of Rs 405 per share.