Stocks to watch: HDFC Bank, Torrent Power, IIFL Finance among shares in focus today; check list here

Stock market today: Indian benchmark indices ended marginally higher, on Thursday, 25 June, after giving up most of their intraday gains due to profit booking at higher levels.

The Sensex advanced 109.25 points, or 0.14%, to close at 77,100.47, while the Nifty 50 gained 34.35 points, or 0.14%, to settle at 24,056.00. The domestic stock market remained closed on Friday in observance of Muharram.

However, the market is likely to open lower as trends in the Gift Nifty index signalled a cautious undertone on Monday, 29 June. Gift Nifty was trading near the 24,087 mark, down over 15 points from the previous close of Nifty futures.

“Indian equity markets are expected to trade on a cautious note following a renewed flare-up in geopolitical tensions after fresh military exchanges between the US and Iran. Although both sides have reportedly agreed to halt further attacks following the latest escalation, the developments have reintroduced an element of uncertainty into global financial markets and are likely to keep investor sentiment guarded in the near term,” said Ponmudi R, CEO of Enrich Money.

As the market is pointing towards a negative start, some stocks are likely to remain in focus on Monday due to their own positive/negative triggers.

Stocks to Watch

HDFC Bank

The bank said on Friday that an independent legal review carried out by two external law firms found no evidence to support the allegations made by former chairman Atanu Chakraborty in his resignation letter.

Torrent Power

The company has successfully completed the acquisition of a 100% stake, including equity shares and convertible instruments, in Nabha Power from L&T Power Development for a total consideration of ₹3,632.35 crore

Indian Railway Finance Corporation

The Centre's Offer for Sale (OFS) in Indian Railway Finance Corporation (IRFC) garnered robust investor demand, enabling the government to raise an estimated ₹2,084 crore while also triggering the exercise of the greenshoe option.

Dr Reddy's

The Hyderabad-based drugmaker said the USFDA has concluded a Pre-License Inspection (PLI) of its biologics manufacturing facility in Bachupally, Hyderabad, issuing seven observations.

Strides Pharma

Strides Pharma Science on Saturday said it will divest a majority stake in its wholly-owned subsidiary, Pivot Path, to a consortium of investors led by Ascent Capital, along with co-investor Vintage, in a deal valued at ₹100 crore.

Persistent Systems

Persistent, through its subsidiary Galaxy Germany Holding SE (BidCo), has signed a Share Purchase Agreement with Germany-based Lantano Beteiligungen GmbH to acquire its 21% stake in Germany-listed Nagarro SE at a price of EUR 81 per share.

IIFL Finance

The board has cleared a proposal to raise up to ₹10,000 crore through equity and other eligible securities. It also approved doubling the limit for its global medium-term note (GMTN) programme while increasing the company's overall borrowing capacity.

Godrej Industries

The company, in a regulatory filing, said it has made an additional investment in its wholly owned subsidiary, Godrej Investment Ltd (GIVL).

BEML

BEML has secured an additional export order valued at around $5.35 million from a Middle Eastern customer for the supply of heavy earth-moving equipment to support infrastructure development projects.

PTC Industries

The board of PTC Industries has approved a fundraise of up to ₹1,800 crore through a qualified institutional placement (QIP), preferential issue, and other modes. It also cleared loans, guarantees, securities, and investments worth up to ₹2,000 crore. Additionally, the board approved raising the company's borrowing limit to ₹600 crore from the existing ₹350 crore.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.