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Stocks to watch on June 1, 2023: The SGX Nifty, on Thursday, signaled a muted start as it stood around 18,617 levels, down 46-odd points, as of 7:45 am.
Globally, the US markets closed lower overnight as Dow Jones, NASDAQ Composite, and the S&P 500 indices slipped up to 0.6 per cent.
However, markets in Asia-Pacific largely rose this morning after the US House passed the debt ceiling bill days ahead of the default deadline. Key indices Nikkei 225, the S&P 200, and Hang Seng indices gained up to 0.8 per cent.
Meanwhile, back home, here are top stocks to watch in Thursday's trade:
Adani group stocks: The conglomerate is eyeing to raise up to $3 billion through an equity share sale to institutional investors after the US short seller's report hit them. According to reports, board of group's flagship firm - Adani Enterprises and Adani Transmission have approved to raise up to Rs 21,000 crore, while Adani Green proposed to raise up to $1 billion. READ MORE
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Coal India: The Centre has proposed to sell up to 3 per cent of its stake in the national miner through an offer for sale (OFS) from Thursday, June 1. The government is looking to garner around Rs 4,162 crore through the sale process. READ MORE
Mankind Pharma: The company clocked 52 per cent year-on-year (YoY) increase in consolidated profit after tax (PAT) to Rs 294 crore for March quarter 2022-23 (Q4FY23), aided by robust sales. Revenue from operations, too, rose to Rs 2,053 crore in Q4FY23. READ MORE
EID Parry: The sugar manufacturer reported a consolidated profit after tax (PAT) at Rs 286.90 crore in Q4FY23, down 33 per cent YoY. Consolidated total income, meanwhile, rose to Rs 6,865.28 crore, up 19.26 per cent YoY in Q4FY23.
Allcargo Logistics: The company's consolidated net profit declined 78 per cent YoY to Rs 51.90 crore in Q4FY23. The total income from continued operations, further, slipped 37.49 per cent YoY to Rs 3,415.40 crore in the March quarter.
India Pesticides: The company's revenues grew 10.8 per cent to Rs 201.1 crore in Q4FY23. Net profit was reported at Rs 30 crore, while earnings before interest, tax, depreciation, and amortisation (Ebitda) was seen at Rs 45 crore in Q4FY23.
Cipla: The pharma major announced that the proposed stake sale of CQCIL, step-down subsidiary of the company in Uganda, is expected to be completed on or before July 31, 2023. However, the timeline is subject to regulatory approvals, and satisfaction of conditions as agreed in the share purchase agreement.
Rainbow Children's Hospital: After R Gowrisankar resigned from the post of Chief Financial Officer due to personal reasons, the board approved appointment of Vikas Maheshwari as the CFO (Key Managerial Personnel) of the company.
MIC Electronics: The company secured letter of acceptance (LoA) from Secunderabad Railway Division of South-Central Railway Zone for Rs 3.9 crore. The time period for the execution of the order lies after 12 months from the date of the issue of LoA.
LTIMindtree: Credit ratings agency CRISIL reaffirmed 'stable' rating on the bank facilities of the company. The ratings reflect enhanced market position of the company in the IT services industry after the merger of two entities (L&T Infotech & Mindtree), said the ratings agency.
