 "TBI Corn, IRB Infra, Mastek, Rites among seven stocks to watch on June 07")
Stocks to watch on Friday, June 07, 2024: Indian markets are likely to open with subdued sentiment on Friday, influenced by mixed global cues. GIFT Nifty futures suggest a modest start, trading just 20 points higher than Nifty50 futures at 22,919 levels.
Across Asia-Pacific markets, the trend was mixed, with Japan's Nikkei 225 dipping by 0.14 per cent, while the broader Topix index remained relatively flat, up by 0.05 per cent. South Korea's Kospi index was up by 0.81 per cent, whereas Australia's S&P/ASX 200 index rose by 0.16 per cent.
Back home, investors are awaiting the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) decision on interest rates, scheduled for 10:00 AM today.
Here are some stocks expected to be in focus on Friday:
TBI Corn: The company’s initial public offering (IPO) is set to list on NSE SME on Friday, June 07, 2024. This is a book-built issue aiming to raise Rs 44.94 crores comprising entirely a fresh issue of 47.81 lakh shares. The price band for TBI Corn IPO is fixed at Rs 90 to Rs 94 per share.
IRB Infrastructure: The company, along with its associate IRB Infrastructure Trust, reported a strong year-on-year toll revenue growth of 30 per cent for May 2024. Total toll collections for the month amounted to Rs 536 crore, significantly higher than the Rs 411 crore collected in May 2023.
Mastek: The company is introducing icxPro, a cloud-native platform powered by NVIDIA AI, designed for building scalable AI applications.
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Rites: Tata Steel awarded the company an order for Loco Hiring, along with operation and maintenance services.
Welspun Enterprises: Resolving a legal dispute with Indian Oil Corporation Ltd (IOCL) over the Panipat Naphtha Cracker Project, Welspun Enterprises will receive Rs 23.67 crore from IOCL as per settlement terms, including principal and interest.
Tata Steel: NCLT approved the Scheme of Amalgamation of Bhubaneshwar Power with the company.
Dixon Technologies: Signed a term sheet with HKC Corp for a prospective joint venture.