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Stocks to watch on July 9, 2024: Indian equities may see a flat open on Tuesday, tracking mixed global cues. GIFT Nifty also suggests a subdued start, as they quoted 17 points higher to Nifty 50 futures at 24,392.
Asia-Pacific markets largely opened higher on Tuesday, following the positive momentum from Wall Street where the S&P 500 and the Nasdaq Composite closed at record highs overnight.
Japan’s Nikkei 225 rose 1.06 per cent, while the broader Topix index climbed 0.36 per cent.
South Korea’s Kospi traded flat, while the small-cap Kosdaq rose by 0.12 per cent. Meanwhile, Australia’s S&P/ASX 200 shot by 0.76 per cent.
In contrast, Futures for Hong Kong’s Hang Seng index were trading 0.55 per cent lower at 17,427 levels.
Overnight in the US, the tech-focused Nasdaq surged by 0.28 per cent, closing at a record level of 18,403. The 30-stock Dow dropped by 0.08 per cent, while the broader S&P 500 experienced a slight uptick of 0.01 per cent closing at a record high of 5,572.
Meanwhile, back home below are some stocks to watch on Tuesday:
Dixon Technologies: The company on Monday has announced plans to divest its entire 50 per cent stake in the joint venture company AIL Dixon Tech to Aditya Infotech. As part of the transaction, Dixon Technologies will acquire 6.5 per cent stake in Aditya Infotech in exchange for the divestment.
Godrej Consumer Products: Expects double-digit volume growth and high-single digit growth in value terms across home care and personal care segments in the quarter-ended June, according to provisional business updates released on Monday. It expects flattish sales in Rs terms, double-digit constant currency sales growth and double-digit reported Ebitda growth at consolidated organic level. The company’s domestic business saw high-single digit organic volume growth and mid-single digit value growth.
Swan Energy: Three Blackrock affiliates acquired a stake worth Rs 304 crore in Swan Energy Ltd. through open market transactions on Monday. Two foreign investors were among the sellers. 2I Capital PCC and Dovetail India Fund sold 15 lakh shares and 12 lakh shares, respectively, at Rs 666.2 per share, according to NSE block deal data.
Nestle India: The shareholders of Nestle India Ltd. have approved the continuation of the current rate of 4.5 per cent as royalty payment to its Swiss parent in the company’s annual general meeting held on Monday.
Bajaj Finserv: Bajaj Allianz General Insurance Co. and Bajaj Allianz Life Insurance Co.—Bajaj Finserv Ltd.’s subsidiaries—on Monday announced their provisional figures for June. Bajaj Allianz General Insurance reported a gross direct premium underwritten at Rs 1,234 crore for June, according to provisional figures released by the company on Monday in its business update. The total new business premium for Bajaj Allianz Life Insurance stood at Rs 1,082 crore for June.
Godrej Industries: Promoter entities of Godrej Industries Ltd. exchanged shares worth Rs 3,800 crore via open market deals on Monday. RKN Enterprises sold 4.25 crore shares for Rs 893.05 apiece, as per block deal data on the BSE. The aggregate deal value stands at Rs 3,800 crore.
Jio Financial Services: The group chief operating officer (COO) Charanjit Attra has tendered his resignation from the company. In a regulatory filing with the BSE, JFS said that Attra resigned on account of his appointment as the MD and CEO of its subsidiary Jio Leasing Services.
Senco Gold: It reported retail sales growth of 11 per cent and same-store sales growth of 4 per cent in the first quarter of fiscal 2025, according to its business update issued on Monday. The average transaction value and average selling price were reported to have risen by 12 per cent. The total sales growth was 9 per cent YoY in the first quarter of fiscal 2025 (including exports, e-commerce, corporate, digital products and more).
Utkarsh SFB: The Reserve Bank of India (RBI) on Monday approved the re-appointment of Govind Singh as the managing director and chief executive officer of Utkarsh Small Finance Bank (Utkarsh SFB) effective from September 21, 2024, according to the exchange filing.
HFCL: HFCL’s Netherlands unit incorporates a subsidiary in the U.K. for making optical fibre cables. The company in an exchange filing said that in line with the company’s strategy to increase revenue from the export markets, HFCL BV, a wholly owned subsidiary of HFCL Limited in the Netherlands, has established a wholly owned subsidiary company namely HFCL UK Limited in the UK. Consequently, HFCL UK Limited has also become a step-down wholly owned subsidiary of the Company.
HDFC Life: The business premium of India’s life insurers rose 15 per cent year-on-year to Rs 42,434 crore in June, according to the data released by the Life Insurance Council on Monday. Individual single premium rose to Rs 3,823.7 crore, while individual non-single premium stood at Rs 8,310.6 crore. Group single premium was at Rs 28,711 crore, group non-single premium at Rs 510.8 crore and group yearly renewable premium stood at Rs 1,077.6 crore, it said.
Container Corp. of India: The company reported a 6 per cent yearly growth in total throughput in the April-June quarter, according to provisional business updates released on Monday. Throughput refers to the total time it takes to develop and deliver goods or services to the customer. Total throughput stood at 11.59 lakh twenty-foot equivalent units (TEUs) in the first quarter, as compared to 10.93 lakh TEUs. Export-import throughput rose 3.3 per cent year-on-year to 2.89 lakh TEUs, while domestic throughput soared 15.3 per cent to 8.69 lakh TEUs.
Pitti Engineering: According to reports, Hyderabad-based Pitti Engineering Ltd has announced the launch of a qualified institutional placement (QIP) to raise Rs 360 crore. The issue price for the QIP is set at Rs 1,054.25 per share.
Mahanagar Gas: The company on Monday, July 8, revised prices for compressed natural gas (CNG) and domestic piped natural gas (PNG) in and around Mumbai. Effective from midnight tonight (July 9), the price of CNG will see an increase of Rs 1.50 per kg, bringing the revised price to Rs 75 per kg, inclusive of all taxes. Similarly, the price of domestic PNG will rise by Rs 1 per standard cubic metre (SCM), resulting in a new price of Rs 48 per SCM.
First Published: Jul 09 2024 | 7:32 AM IST
