Stocks to Watch: Hero MotoCorp, ONGC, Tata Motors, Thermax, DCM Shriram, IT
Stocks to Watch: The Sensex and the Nifty indices are likely to open with nominal gains on Friday tracking strength in the US overnight and Asian markets this morning. As of 07:45 AM, the SGX Nifty futures quoted at 15,650, indicating a gap-up of 90-odd points on the Nifty 50.
Meanwhile, here are some stocks to watch out in trade today:
ONGC: ONGC overseas arm ONGC Videsh has made an oil discovery in a recently drilled well Urraca-IX in CPO-5 block, Llanos Basin, Colombia.
Hero MotoCorp: Hero MotoCorp will increase ex-showroom prices of its motorcycles and scooters with effect from July 1 to partially offset the steadily growing input cost inflation. The price revision will be up to Rs 3,000. The exact quantum of increase will be subject to the specific model and market.
Tata Motors: In a first for an electric car in India, a Tata Nexon electric vehicle (EV) caught fire on Wednesday evening in a Mumbai suburb. This comes against the backdrop of numerous reports of fire mishaps involving electric two-wheelers. Tata Motors said it is investigating the incident and remains fully committed to all aspects of safety. Read here
Vodafone Idea: Vodafone Idea (Vi) will take a four-year moratorium on paying Rs 8,837 crore as AGR dues, in addition to the option it exercised last year. The telecom company also has the option to convert interest on the deferred amount into additional equity to the government. Read more
Macrotech: Realty major Macrotech Developers on Thursday announced its entry in the Bengaluru market and has formed a joint venture to develop its first housing project with an estimated sales bookings value of Rs 1,200 crore. Read here
Dish TV, Yes Bank: The Bombay High Court on Thursday dismissed the appeal filed by a Dish TV promoter entity against YES Bank — the largest shareholder in the direct-to-home company — paving the way for the latter to vote at the extraordinary general meeting (EGM), to be held on Friday. Read here
Hindustan Unilever: HUL will continue to increase prices of its products as inflation remains high even as market growths have moderated and volume growth has declined, Nitin Paranjpe, chairman of the company, told shareholders at its 89th annual general meeting (AGM) on Thursday. Read more
IT stocks: IT stocks will also be in focus as IT services and consulting firm Accenture beat Street expectations to clock a revenue of $16.16 billion in the quarter ended May 2022 (Q3). The number, buoyed by cloud and digital transformation, was an increase of 22 per cent over the $13.26 billion reported for the same quarter a year earlier. Read here
Century Plyboards: The company has made further investments of Rs 20.95 crore in its wholly owned Century Panels by subscribing to 2.09 crore shares through a rights issue.
DCM Shriram: The company said that the board has approved to invest up to Rs 65 crore for minimum 26 percent equity stake in an SPV which will be created for setting up a wind-solar hybrid renewable power project. The company will get 50 megawatt of renewable power supply (25 MW round the clock) from the SPV. It will also invest up to Rs 57.10 crore to manufacture sulphate of potash (K2SO4) with a capacity of 4,600 TPA at Hariyawan (UP) sugar facility to optimise the circular economy and derive value from byproducts.
Thermax: The company’s subsidiary First Energy has acquired two companies – Jalansar Wind Energy and Kanakal Wind Energy – which will become wholly owned step-down subsidiaries of Thermax. Both the companies belong to the renewable energy sector.
Jammu & Kashmir Bank: Jammu & Kashmir Bank to consider fundraising on June 28. The bank said the board will hold a meeting on June 28 to consider raising capital (Tier I/Tier II) during the financial year 2022-23.
Cigniti Technologies: Cigniti Technologies said its board of directors will hold a meeting on June 29 to consider the closure of buyback of shares of the company.
HealthCare Global Enterprises : The company has entered into a Business Transfer Agreement with Radiant Hospital Services for the acquisition of its radiation therapy centre for a cash consideration of Rs 16 crores.
Unitech: The Enforcement Directorate has attachesd assets worth Rs 257 crore in the case of Unitech. Total attachment in the UnitechCase now stands at Rs 1,059.52 crore.
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