Stocks to Watch: RIL, SBI, IdeaForge, TCS, Dabur, Titan, Infosys
4 min read 07 Jul 2023, 07:27 AM ISTFIIs purchased shares worth a net amount of ₹2,641 crore, while DIIs sold shares worth a net amount of ₹2,351 crore. Moving into July till date, FIIs continued to show interest in the Indian market by buying shares worth a net amount of ₹8,374.55 cr, while DIIs sold a net amount of ₹3,913.95 cr
PremiumHere are the top 10 stocks that could be in focus in today's trade:
Reliance Industries: The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the demerger of the financial services business of Reliance Industries, the Mukesh Ambani-led conglomerate said on Thursday. The company added that it, along with Reliance Strategic Investments Ltd, will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments. Once demerged, Macquarie expects it to be the fifth-largest financial services company by net worth.
State Bank of India: The State Bank of India has announced a slew of management changes amid its ongoing bid to fortify its dominance. According to a Bloomberg report, Rajay Sinha (currently the chief general manager in charge of global markets) is set to become the MD and CEO of SBI Capital Markets Ltd. He will replace Amitava Chatterjee in the new role, with the latter returning to the bank to oversee its vertical catering to corporate clients. Chatterjee will be the deputy managing director in his new role.
IdeaForge Technology: The initial public offering (IPO) is going to hit Dalal Street on Friday. As per the information shared by the drone maker company, the ideaForge IPO listing date has been fixed on 7th July 2023. As per the tentative schedule, the ideaForge IPO listing date was expected on 10th July 2023 i.e. on Monday. After strong ideaForge IPO subscription status and ideaForge IPO allotment, grey market and stock market experts are highly bullish on ideaForge Technology share listing.
Tata Consultancy Services: Tata Consultancy Services (TCS), India’s largest software services company, on Thursday, said it will train 25,000 engineers on generative artificial intelligence (AI) tools and services by AI research firm OpenAI, the makers of popular chatbot, ChatGPT. The generative AI services will be hosted and provided on Microsoft’s Azure cloud platform, thus making this offering available to its clients. TCS also launched a generative AI business offering which will offer deployments of OpenAI’s generative AI business tools via the Azure platform to businesses.
Dabur: Packaged consumer goods company Dabur India said demand trends in both urban and rural India reported signs of improvement in the June quarter as inflation ebbed. The company said that during the quarter, trends in both urban and rural India have shown signs of improvement. One of the key contributing factors to this positive development has been the reduction in inflation. The update provides an overall summary of the performance and demand trends witnessed during the quarter ended June 30, 2023.
Titan: Titan Company announced on July 6 that it has registered a 20% year-on-year (YoY) revenue growth with all key consumer businesses exhibiting double-digit growth for the April-June quarter of the current fiscal. The jewellery maker also said that during the quarter, it added 68 stores, including CaratLane, taking Titan's retail footprint to 2,778 stores. The company's jewellery division grew 21 per cent in the first quarter of fiscal 2023-24. The key categories of gold and studded grew with no notable change in the overall product mix.
Tata Steel: Domestic deliveries were the driving force for Tata Steel Limited in the first quarter of Fiscal Year 2024 (Q1 FY24) with an 18% increase in domestic volumes Y-o-Y over key segments, said the steel company in a forward-looking statement today. Provisional delivery volumes for the Indian vertical of the company stood at 4.8 million tons, an 18% Y-o-Y rise. While the Exports moderated on a Y-o-Y basis to 0.25 million tons, as the company’s Europe and Thailand verticals saw a decline in deliveries.
Infosys: IT company Infosys on Thursday said it has set up a new subsidiary in Canada under its US arm Infosys Public Services. Headquartered in Ottawa, Infosys Public Services Canada will span over 10,000 square feet. "Infosys Public Services (IPS), a North America-based company of Infosys, today announced the opening of its new subsidiary, Infosys Public Services Canada, Inc headquartered in Ottawa, Ontario with local offices in Mississauga ON, Calgary AB, and Burnaby BC," the company said in a statement.
Adani Green: Adani Green Energy Ltd (AGEL), on Thursday, said the renewables energy firm is planning to raise up to Rs. 12,300 crore. Following a board meeting, the company said it will raise the capital via qualified institutional placement (QIP) or any other eligible securities, according to an exchange filing. The amount of funds to be raised will be subject to regulatory and statutory approvals, as well as the approval of AGEL's shareholders by way of a postal ballot process, said the filing.
NTPC: State-owned NTPC Ltd on Thursday announced the second unit of its Barh Super Thermal Power Project in Bihar has been commissioned. The unit is 600 megawatts (MW) in capacity, NTPC said in a regulatory filing. "Unit-2 of 660 MW capacity of Stage-I (3 x 660 MW) of Barh Super Thermal Power Project in the State of Bihar, has successfully completed trial operation and consequently included in the installed capacity of NTPC Ltd," it said.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
