Stocks to Watch today, July 5: LTIMindtree, Bandhan Bk, Lupin, Adani Power

Stocks to Watch on Wednesday, July 5: LTIMindtree will replace HDFC in the benchmark Nifty50 index, while LIC Housing Finance will likely replace it in the Nifty Financial Services index

Stocks to Watch on July 5: Gift Nifty is signalling at a quiet start to Wednesday's trading session. At 7:45 AM, the index was flat at 19,495 levels.

Elsewhere in Asia, most indices were trading lower as pace of Services sector growth slowed down in Japan and China. Japan's Nikkei and South Korea's  Kospi fell 0.36 per cent each, China's Shaghai Composite dropped 0.4 per cent, and Australia's ASX fell 0.32 per cent.

US markets were closed overnight for a holiday. Index futures, however, were trading in the red this morning. 

Here's a list of stocks that will be in focus today: 

LTIMindtree, LIC Housing Finance: LTIMindtree will replace Housing Development Finance Corporation (HDFC) in the benchmark Nifty50 index, while LIC Housing Finance will likely replace it in the Nifty Financial Services index. The change will become effective from July 13 (close of July 12).

Meanwhile, Jindal Steel & Power will replace HDFC in the Nifty 100 index and LTIMindtree in the Nifty Next 50 index. Further, Mankind Pharma will take the place of HDFC in the Nifty 500 index.

State Bank of India: SBI has received approval from its Executive Committee of the Central Board (ECCB) for acquiring the entire stake held by SBICAPS in SBICAP Ventures, subject to regulatory approvals. The estimated cost of capital will be Rs 708.07 crore.

Sygene International: The company has acquired Unit 3 biologics manufacturing facility in Bengaluru from Stelis Biopharma Limited (SBL). 

The companies have entered into a binding term sheet and, on completion of the transaction, the site will add 20,000 liters of installed biologics drug substance manufacturing capacity for Syngene. The site has the potential for future expansion up to a further 20,000 liters of biologics drug substance Manufacturing capacity.

Macrotech Developers: Realty firm Macrotech Developers on Tuesday reported a 17 per cent growth in its sales bookings at Rs 3,350 crore in the first quarter of this fiscal year, mainly on better housing demand. This was the company's best-ever first quarter pre-sales performance.

Adani Power: Adani Electricity Mumbai has said that its aggregate technical and commercial losses reduced to 5.93 per cent in FY23 as against 6.55 per cent recorded a year ago. 

RBL Bank: Informing the exchanges about its Q1FY24 business update, the lender said its total deposits grew 8 per cent YoY to Rs 85,638 crore as of June 30, 2023 as against Rs 79,216 crore last year.

Lemon Tree Hotels: The company has signed a License Agreement for a 48-room property in Udaipur, Rajasthan

Gross advances, meanwhile, jumped 20 per cent on year to Rs 74,792 crore as compared to Rs 62,110 crore in Q1FY23.

Bandhan Bank: The lender's chief financial officer (CFO), Sunil Samdani, has resigned to "take up other opportunities". He will serve a notice period of three months up to 1 October 2023.

Separately, its total advances grew around 7 per cent YoY but slipped 5.5 per cent QoQ to Rs 1.03 trillion at the end of the June quarter. Total deposits were flat sequentially and up 16.6 per cent YoY to Rs 1.08 trillion. CASA deposits fell 3 per cent YoY/8 per cent QoQ.

AU Small Finance Bank: Gross advances increased 29 per cent YoY to Rs 63,635 crore in Q1FY24, while deposits grew 27 per cent to Rs 69,315 crore, the lender said in its June quarter business update. 

Samvardhana Motherson International: MSSL Consolidated Inc, an indirect wholly owned subsidiary of Samvardhana Motherson International Limited, has signed an Agreement for an investment of  $14 million, 12 per cent optionally convertible secured note of Prysm Systems Inc.

Moroever, upon successful delivery of Gen-3 prototype as per agreed specification and associated conditions, which is expected by Q4FY24, the company will further invest $20 million and convert secured note to equity for majority stake i.e. not less than 72 per cent on a fully diluted basis. 

That apart, Samvardhana Motherson International Limited, via 100 per cent subsidiary of SMRP B.V., has entered into an agreement to acquire 81 per cent stake in Yachiyo’s 4W (Y4W) Business housed under Yachiyo Industry Co. Ltd. 

Lupin: The company has received tentative approval from the USFDA for Abbreviated New Drug Application, Dolutegravir Tablets for Oral Suspension, 5 mg, to market a generic equivalent of Tivicay PD Tablets for Oral Suspension, 5 mg of ViiV Healthcare Company.

Separately, the company has fixed Friday, July 14, 2023, as the ‘Record Date’ for the purpose of ascertaining the shareholders who will be entitled to payment of Dividend if declared at the AGM (to be held on August 3). 

Aurobindo Pharma: The breast cancer biosimilar product, BP02 (Trastuzumab or biosimilar to Herceptin), developed by its wholly owned subsidiary company, Curateq Biologics Private Limited, has shown positive results in Phase 3 clinical trial. 

Manali Petrochemicals: The company has entered into a captive power agreement with First Energy 5 Private Limited (a subsidiary of First Energy Private Limited)  for procurement of Wind power. It will be investing up to 3.08 per cent initially and will hold 2.59 per cent of the paid up equity of the Captive Power Producer upon commissioning of the project during the tenure of the said agreement. 

It has also entered into a captive power agreement with First Energy 6 Private Limited for procurement of Solar power, and will be investing up to 3.00 per cent initially and will hold 2.43 per cent of the paid up equity of the Captive Power Producer upon commissioning of the project during the tenure of the said agreement.

BHEL: BHEL has extended its Gas Turbines technology agreement with General Electric Technology GmbH Switzerland. 

TTK Healthcare: The company has revised its delisting price to Rs 1,201.30 per equity share from Rs 1,051.31.