GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap down opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 9.50 points or 0.04% at 22,909 indicating a subdued start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 rose 201 points or 0.89% to settle at 22,821, while the BSE Sensex jumped 692 points or 0.93% to close at 75,075.
Stocks to watch on June 07, 2024
ITC
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Reliance Industries, Aurobindo Pharma, ONGC, Bajaj Consumer, Bank of Baroda Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea
The shareholders of ITC have approved a proposal to demerge its hotel business into ITC Hotels with a whopping 99.59% votes in favour. This also paves the way for the listing of ITC Hotels on the bourses. The scheme of arrangement of ITC and ITC Hotels has been passed by the members with the requisite majority, the company said in a regulatory filing.
ICICI Bank
SEBI has asked ICICI Bank to take action against employees who exceeded their authority and encouraged shareholders to vote in favour of ICICI Securities’ delisting. The markets regulator also asked ICICI to provide an action taken report to the bank’s board and submit a summary of the board discussions to the regulator.
PB Fintech
SEBI issued a Show Cause Notice (SCN) to Yashish Dahiya, Chairperson and CEO of PB Fintech over a Dubai investment made in 2022, according to a regulatory filing. The SCN relates to a $2 million investment in a Dubai-based marketing company – YKNP Marketing Management – through PB Fintech’s arm PB Fintech FZ-LLC, Dubai.
Hindustan Unilever
On Thursday, Hindustan Unilever (HUL) said chief digital officer Arun Neelakantan will be appointed executive director of customer development, effective July 1. He will replace Kedar Lele, who will be pursuing an external opportunity.
VIP Industries
VIP Industries has been looking to restructure its operations post-pandemic and amid changing consumer preferences for luggage over the last few years, founder-chairman Dilip Piramal told FE. Piramal also said Nisa Godrej’s exit from the company as an independent director this week was unexpected.
Hero MotoCorp
Hero MotoCorp will acquire an additional 2.2% stake in a Bengaluru-based startup, Ather Energy, for Rs 124 crore. Hero MotoCorp currently holds a 39.7% share in Ather Energy.
Wipro
Wipro bagged a $500 million deal from a US communication service provider. This five-year contract marks the first big deal win under Wipro’s new CEO Srini Pallia. Wipro will deliver managed services for select products and provide industry-specific solutions, as per the agreement.
RVNL
On Thursday, Rail Vikas Nigam (RVNL) said that it received a contract worth Rs 495 crore by NTPC. “…it is hereby informed that Rail Vikas Nigam Limited has received a Letter of Award from National Thermal Power Corporation (NTPC) for “Project Execution Agency (PEA) contract for execution of Balance Civil & HM works of Barrage Complex including part HRT package of Rammam Hydro Electric Project Stage-III (3×40 MW),” said the company in an exchange filing.