 "Stocks to watch on July 2: Patanjali Foods, CSB Bank, DCX Systems, NMDC")
Stocks to watch on Tuesday, July 2, 2024: After a higher closing on Monday, the benchmarks Sensex, and Nifty indices are looking to continue the positive momentum on Tuesday, indicated GIFT Nifty. The GIFT Nifty futures portray a positive start quoting 43 points higher than Nifty 50 futures at 24,249 levels.
Markets in Asia signalled a mixed trend with Japan’s Nikkei 225 trading flat slightly up by 0.03 per cent, while the broad-based Topix inched up 0.55 per cent. In contrast South Korea’s Kospi declined by 0.7 per cent.
Moreover, Australia’s S&P/ASX 200 slipped marginally, down 0.11 per cent. Moreover, Hong Kong’s Hang Seng index futures were down by 0.28 per cent.
In the US overnight, the tech-focused Nasdaq surged by 0.83 per cent. The 30-stock Dow soared by 0.13 per cent, while the broader S&P 500 experienced a slight uptick of 0.27 per cent.
Meanwhile, domestically here are some stocks to watch on Tuesday:
Patanjali Foods: Enters into a business transfer agreement with Patanjali Ayurved to acquire the non-food business undertaking or hair care, skin care, dental care and home care business of Patanjali Ayurved, including all movable assets, immovable properties, contracts, licences on a going concern basis through a slump sale. The acquisition falls under the ambit of a Related-Party Transaction. Total consideration for the acquisition is Rs 1,100 crore, which will be paid in five tranches.
CSB Bank: CSB Bank recorded a 17.8 per cent YoY growth in gross advances to Rs 25,099 crore. Total deposits up 22.2 per cent to Rs 29,920 crore. CASA deposits down 1.3 per cent. Term deposits up 32.7 per cent to Rs 22,471 crore. Advances against gold and gold jewellery up 24 per cent to Rs 12,487 crore.
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Hero MotoCorp: Total June sales rose 15 per cent YoY to 5.03 lakh units. Domestic sales up 16 per cent to 4.91 lakh units. To expand its EV portfolio with new products in the mid and mass segments in CFY. Global business sales up 44 per cent during the June quarter led by expansion of Nepal operations, growth in Columbia and Mexico and increased market penetration in Turkey. Exports in June fell to 12,032 units from 14,236 units last year.
DCX Systems: Gets order worth Rs 1,250 crore from L&T for the manufacture and supply of electronic modules. The order has to be executed over a three-year period.
IOL Chemicals: Gets China's drug regulatory authority NMPA's nod for Fenofibrate, allowing the company to export it to the Chinese market. Fenofibrate is used in the treatment of high cholesterol and triglyceride levels in the blood.
Eicher Motors: Royal Enfield sales down 5 per cent in June YoY to 73,141 units. Exports down 27 per cent to 7,024 units. Sale of models with engine capacity up to 350 cc down 10 per cent to 61,465 units. Sales of models with engine capacity exceeding 350 cc up 38 per cent in June to 11,676 units.
Tata Motors: Total domestic sales down 8 per cent YoY to 74,147 units. Total CV sales down 7 per cent, while total PV sales down 8 per cent to 43,624 units. Exports increased by 13 per cent to 1,457 units.
TVS Motor: Total Auto sales at 3.34 lakh units YoY. Total 2W sales up 6 per cent to 3.22 lakh units. Domestic 2W sales rose 8 per cent to 2.56 lakh units. EV sales up 10 per cent to 15,859 units. Exports down 3.9 per cent to 76,074 units.
Carysil: Launches QIP to raise funds. Floor price of Rs 837.89 is higher than the stock's closing price on Monday. The company, at its discretion, can offer a discount of not more than 5 per cent on the floor price.
NMDC: Total production in June at 3.37 MT from 3.48 MT last year. Total sales at 3.73 MT from 4.1 MT last year. Lump ore prices were cut by Rs 500 to Rs 5,950 per tonne. Fines prices too cut by Rs 500 per tonne to Rs 5,110.
CAMS: Collaborates with Google Cloud to build a cloud-native platform to transform its Asset Management Business services.