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Business News/ Markets / Stock Markets/  Stocks to Watch: HDFC Bank, RIL, Hero MotoCorp, SBI, Tamilnad Mer Bank, BoB
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Stocks to Watch: HDFC Bank, RIL, Hero MotoCorp, SBI, Tamilnad Mer Bank, BoB

In the trading week, Indian markets will be mostly dictated by banking stocks after the HDFC twins merger, foreign funds flow coupled with global trends like the US Fed meet minutes, and US market amidst employment data

Stocks to Watch for Monday (Photo: Bloomberg)Premium
Stocks to Watch for Monday (Photo: Bloomberg)

Here are the top 10 stocks that could be in focus in today's trade:

HDFC Bank: HDFC Ltd is going to merge with its subsidiary HDFC Bank on 1st July This means HDFC has ceased to exist. In the latest exchange filing, both entities informed the Indian stock market exchanges in this regard. So, the trading window in HDFC Ltd will remain closed from today and it will remain closed till the HDFC Bank HDFC merger record date, which is fixed on 13th July 2023. HDFC Bank HDFC merger would create the world's fourth largest bank in the world after JP Morgan Chase & Co, Industrial and Commercial Bank of China Ltd (ICBC) and Bank of America Corp.

Reliance Industries: Reliance Industries Limited (RIL) and bp plc on Friday announced the commencement of production from the MJ field, following testing and commissioning activities. The MJ field represents the last of three major new deepwater developments the RIL-bp consortium has brought into production in block KG D6 off the east coast of India. The start of gas & condensate production from the MJ field follows the start-up of the R-Cluster field in December 2020 and Satellite Cluster in April 2021, said a statement.

Hero MotoCorp: Two-wheeler maker Hero MotoCorp reported total sales of 4,36,993 units in June 2023. The company registered a decline of 9.9% when compared to 4,84,867 units sold in the same month last year. In terms of Month-on-Month sales, Hero MotoCorp registered a decline of 15.88%. It sold 5,19,474 units in May 2023. Hero MotoCorp’s domestic sales of motorcycles dipped last month to 4,04,474 units. There was a 12.34% Year-on-Year decline when the company sold 4,61,421 units in June 2022.

State Bank of India: State Bank of India (SBI) on Thursday informed that its Chief Financial Officer Charanjit Surinder Singh Attra resigned from his position. The largest commercial bank in India shared details about the appointment of four directors to the bank's central board for a period of three years. The resignation is accepted by the appropriate authority with effect from close of the business hours on 30th June 2023, the bank said in a filing to stock exchanges.

Tamilnad Mercantile Bank: The Tamilnad Mercantile Bank (TMB) has not filed a statement of financial transactions pertaining to cash deposits of over 2,700 crore involving more than 10,000 accounts, said the I-T department, according to a report by The New Indian Express. The I-T department said that during verification at the bank to address reporting entity compliance issues, officials also found discrepancies in specified credit card payments involving total transactions worth 110 crore, dividend distribution of more than 200 crore, and shares issued for over 600 crore.

Maruti Suzuki: Maruti Suzuki on Saturday reported a 2% increase in total wholesales at 1,59,418 units in June 2023. The country's largest carmaker had dispatched 1,55,857 units to dealers in June 2022, MSI said in a statement. The company's domestic passenger vehicle sales increased by 8 per cent to 1,33,027 units in May 2023 as against 1,22,685 units in the year-ago period. As announced by the company, sales of mini cars, comprising Alto and S-Presso, fell marginally to 14,054 units as compared with 14,442 units in the same month last year.

Bank of Baroda: The government-owned Bank of Baroda (BoB) intends to sell up to 49% of its ownership in the credit card division BOB Financial Solutions Ltd. BoB currently holds a 100% ownership interest. According to a senior bank official, the process to bring on a strategic investor would take place through a Request for Proposal that the bank has issued. BOB intends to offload up to 49 per cent in a combination of primary and secondary capital from one or multiple investors to create more value in BOB Financial Solutions and take it to the next level of growth, the official said.

Tata Motors: Tata Motors on Saturday reported a 1 per cent rise in total domestic sales at 80,383 units in June 2023 as against 79,606 units in the year-ago month. Domestic passenger vehicle sales, including electric vehicles, were at 47,235 units as compared to 45,197 units in the same month a year ago, a growth of 5 per cent, Tata Motors said in a statement. Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said the passenger vehicle industry in Q1 FY24 witnessed a robust demand driven by new launches.

Zomato: Food delivery platform Zomato on Friday announced the rollout of ‘Zomato Food Trends’ a data platform that will now be publicly available to restaurant partners. Zomato Food Trends, an open platform accessible to all free of charge, will provide insights by analyzing data from millions of transactions across hundreds of cities in India. Restaurant partners can use these insights to customize their strategies and undertake data-driven decisions to accelerate and amplify their success, the food aggregator said in a statement.

Siemens Ltd: Siemens Limited on Saturday said it has completed the acquisition of the electric vehicle division of Mass-Tech Controls Private Ltd for 38 crore. In a regulatory filing, the company said it "has completed the acquisition of EV division of Mass-Tech Controls in accordance with the definitive agreements entered between the parties for a consideration of 380 million, which is subject to adjustments mutually agreed between the parties to the transaction".

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Updated: 03 Jul 2023, 07:25 AM IST
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