 "stock markets")
Stocks to Watch on Tuesday, July 4: Asian markets were mostly tepid Tuesday morning with Japan's Nikkei down 1 per cent, and South Korea's Kospi 0.3 per cent lower. Australia's ASX200, meanwhile, was flat with a positive bias ahead of its central bank rate decision.
At 7:40 AM, GIFT Nifty was at 19,446 level, up 8 points.
US markets will remain closed today on account of Independence Day holiday. Overnight, the Nasdaq Composite added 0.21 per cent, the S&P 500 advanced 0.12 per cent, and the Dow Jones Industrial Average added 0.03 per cent.
Here's a list of stocks that are in focus today:
IDFC, IDFC First Bank: The board of IDFC First Bank has approved the merger of IDFC Ltd and IDFC Financial Holding Company with itself through a scheme of amalgamation. Shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former.
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Reliance Industries, telcos: Reliance Jio, the telecom arm of Reliance Industries, has announced the launch of the internet-enabled 'JioBharat' phones, at a price of Rs 999. This is the "lowest entry price for an internet-enabled phone". Those buying the handset will be eligible for "30 per cent cheaper monthly plan and 7 times more data compared to feature phone offerings of other operators, Jio said.
Adani Transmission: Rajiv Jain's GQG Partners bought an additional 3 per cent stake worth Rs 2,633 crore in Adani Transmission Ltd., taking its total holding in the company to 6.54 per cent.
IndusInd Bank: Hinduja group firm IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, announced on Monday its plans to raise $1.5 billion (about Rs. 12,300 crore) to increase its stake in the lender to 26 per cent from the current 15 per cent.
New listing: Shares of HMA Agro Industries will debut on the BSE and NSE on Tuesday. The IPO had received 1.62 times subscription, and the final issue price was set at Rs 585 per share. The Grey Market Premium (GMP) suggests a likely flat listing for the stock.
New listing: Shares of HMA Agro Industries will debut on the BSE and NSE on Tuesday. The IPO had received 1.62 times subscription, and the final issue price was set at Rs 585 per share. The Grey Market Premium (GMP) suggests a likely flat listing for the stock.
Biocon: Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, has announced that HULIO (adalimumab-fkjp) injection, a biosimilar to Humira (adalimumab), is now available to patients in the United States after five years of experience in Europe and two years in Canada.
Bajaj Finance: In its quarterly update, the NBFC said that new loans booked during Q1FY24 grew by 34 per cent to 9.94 million as compared to 7.42 million in Q1FY23. Customer franchise as of 30 June 2023 stood at 72.98 million, up from 60.30 million as of 30 June 2022. The Company recorded highest-ever quarterly increase in its customer franchise of 3.84 million in Q1FY24.
Assets under management (AUM) grew by 32 per cent to approximately Rs 2.7 trillion at the end of the quarter. The Company recorded highest-ever quarterly increase in its AUM of approximately Rs 22,700 crore in Q1FY24.
Avenue Supermarts: Avenue Supermarts Ltd. reported an 18 per cent increase in revenue in Q1FY24. Standalone revenue for the operator of DMart retail chain during the period increased to Rs 11,584.4 crore. The retailer also posted its highest first-quarter revenue so far.
V-Mart Retail: The company's revenue from operations during April-March quarter grew 16 per cent year-on-year to Rs 678 crore, it said during its Q1FY24 business update.
Hero MotoCorp: Hero MotoCorp, and iconic American motorcyclemaker Harley-Davidson have launched their co-developed premium motorcycle – the Harley-Davidson X440 in India. The Harley-Davidson X440 marks Hero MotoCorp and Harley-Davidson's foray into the 440cc segment for the first time in India.
Vedanta: The natural resources company said that its overall production of Zinc increased 1 per cent year-on-year and 9 per cent quarter-on-quarter to 68 kilotonnes (KT) in Q1FY24, primarily driven by the Black Mountain mine (BMM). The Gamsberg production was lower by 7 per cent year-on-year at 49 kt owing to lower zinc grade and it increased by 2 per cent quarter-on-quarter on account of higher throughput, the company said in an exchange filing.
Hindustan Zinc: Vedanta group firm Hindustan Zinc Ltd (HZL) said the company recorded the highest-ever mined metal production in the first quarter at 257 kilotonnes (KT), up 2 per cent YoY. However, in line with mine preparation activities being carried out every year in the first quarter, mined metal production was lower by 15 per cent QoQ.
Hindustan Zinc: Vedanta group firm Hindustan Zinc Ltd (HZL) said the company recorded the highest-ever mined metal production in the first quarter at 257 kilotonnes (KT), up 2 per cent YoY. However, in line with mine preparation activities being carried out every year in the first quarter, mined metal production was lower by 15 per cent QoQ.
Torrent Power: Torrent Power has announced that it has started work on a Green Hydrogen pilot project for blending with natural gas in city gas distribution (CGD) network. The pilot project, based on Alkaline Electrolyzer and expected to complete in 8 months, will blend about 2.5 per cent GH2 into CGD network, marking an important milestone in the company's foray into GH2 business in India.
Tube Investments of India: TI Clean Mobility Private Limited, a subsidiary of TII, has entered into an agreement with Anand Jayachandran for pursuing electric small commercial vehicle business through a subsidiary to be incorporated by TICMPL. TICMPL will be investing Rs 160 crore and Anand Jayachandran will be investing Rs 40 crore in the form of equity.
That apart, TICMPL has entered into definitive agreements for acquisition of 50 per cent in the equity share capital of Jayem Automotives Private Limited, through a combination of purchase of equity shares from Anand Jayachandran and B Jayachandran, the promoters of Jayem & other existing shareholders of Jayem, and by way of subscription to fresh equity shares, for an aggregate consideration of up to Rs 206 crore.
Eris Lifesciences: Eris Oaknet Healthcare Private Limited, a wholly owned subsidiary, has transferred to the Company all the dermatology trademarks, that had been previously acquired from Glenmark Pharmaceuticals Limited, for Rs 339.68 crore.
Quick Heal Technologies: The Board has approved the appointment of Vishal Salvi as Chief Executive Officer (CEO) of the Company w.e.f. July 03, 2023.
Genus Power Infrastructures: The company has received a letter of award (LOA) of Rs 2,207.53 crore for appointment of Advanced Metering Infrastructure Service Provider (AMISP).
