Stocks in focus today: M&M Fin, Akme Fintrade, Adani Ports, IDBI Bank

Stocks to watch on June 26: Vivek Karve has resigned as CFO of M&M Financial Services and Financial Services to pursue other interests

Stocks to watch on Wednesday, June 26, 2024: Indian markets are poised for a subdued opening on Wednesday, as indicated by GIFT Nifty futures trading 30 points lower compared to Nifty50 futures at 23,701 levels.

Across Asia-Pacific, market movements varied: Japan's Nikkei 225 rose by 0.58 per cent, and the broader Topix index increased by 0.15 per cent. South Korea's Kospi showed minimal change, edging up by 0.09 per cent, while the Kosdaq fell by 0.09 per cent. Australia's S&P/ASX 200 declined by 0.78 per cent.

Meanwhile, futures for Hong Kong's Hang Seng index were down by 0.48 per cent at 17,986 levels.

 

In the US markets overnight, the S&P 500 closed higher by 0.39 per cent. The Dow Jones Industrial Average decreased by 0.76 per cent, while the Nasdaq Composite advanced by 1.26 per cent.

Domestically, on Tuesday, India's benchmark equity indices surged to new highs driven by a rally in banking and financial stocks. The NSE Nifty 50 closed 0.78 per cent higher at 23,721. The S&P BSE Sensex gained 0.92 per cent to end at 78,053. Foreign portfolio investors turned net buyers, purchasing stocks worth Rs 1,175.9 crore, while domestic institutional investors sold equities worth Rs 149.5 crore.

Moreover, back home below are some stocks to track on Wednesday:

Mahindra & Mahindra Finance: Vivek Karve resigned as CFO of M&M Financial Services and Financial Services Sector to pursue other interests.

Akme Fintrade India: The company’s shares are set to debut on the stock exchanges on Wednesday following a successful IPO subscription. The Rs 132 crore initial public offering was oversubscribed 55.12 times by the end of its third and final day.

SME IPOs: Durlax Top Surface, Falcon Technoprojects India, and GEM Enviro Management will make their debut on NSE today. 
 

IDBI Bank: Arun Bansal resigned as Executive Director and Head of Treasury, effective June 25.
 

Adani Ports and SEZ: Sushant Kumar Mishra stepped down as CEO-Logistics due to internal restructuring, with Divij Taneja appointed as the new CEO-Logistics.

Time Technoplast: Time Technoplast secured an additional order worth Rs 55 crore from Indian Oil Corporation for composite cylinder supply.

Mindspace Business Parks REIT: Mindspace Business Parks REIT raised Rs 650 crore from International Finance Corp. through sustainability-linked bond issuance.

Popular Vehicles And Services: Popular Vehicles And Services' unit received a show cause notice from the Tamil Nadu Pollution Control Board for water pollution regulation violations.