GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap up opening on Wednesday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded higher as the index was up 69 points, or 0.29%, at 23,659.50, indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 92.30 points, or 0.39%, to settle at 23,558, while the BSE Sensex jumped 308 points, or 0.40%, to close at 77,301.

Stocks to watch on June 19, 2024

Indus Tower

Britain’s Vodafone Group Plc is likely to sell a 9.94% stake in Indus Towers through a bulk deal at a price range of Rs 310–Rs 341 per equity share, amounting the deal between $996 million and $1.1 billion, according to news reports.

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: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea

Raymond

Ahead of Raymond Ltd.’s annual general meeting on June 27, Institutional Investor Advisory Services has urged shareholders to vote against Gautam Hari Singhania’s reappointment to the board. “Until the time the divorce-related issues are settled and the results of an independent investigation are received, we expect the board to have both directors — Gautam Singhania and Nawaz Modi — step off the board,” the proxy advisory firm said as a reason for its recommendation.

Tata Power

Tata Power Renewable Energy, a subsidiary of Tata Power, has deployed over 850 electric vehicle charging points in key metropolitan areas, the company announced on Tuesday. With 144 charging points located across Mumbai in areas like Backbay, Worli, Malvani, and Shivaji Nagar-Mankhurd bus depots, TPREL has established a significant presence in cities such as Delhi, Mumbai, Ahmedabad, Bengaluru, Jammu, Srinagar, Dharwad, Lucknow, and Goa. Tata Power has enabled over 2,300 public e-buses nationwide, the company stated.

Gland Pharma

Fosun Pharma Industrial Pte may pare its stake in Gland Pharma through block deals after being unable to offload it in one go. The company will sell 5% of the drugmaker for about $172 million through block trade, according to news reports. It has offered 8.2 million shares with the floor price set at Rs 1,750 per share, a discount of 4.9% to the last close.

NMDC

NMDC set up a new research and development centre on the outskirts of Hyderabad to focus on innovation in mineral processing and sustainable steel technology. The new R&D centre spreads over eight acres. The company invested Rs 50 crore in setting up the facility.

Nestle India 

Nestle India delivered over six billion servings of the instant noodle brand Maggi and 4.2 billion fingers of the chocolate wafer brand KitKat to consumers in FY24, the company disclosed in its latest annual report. In the process, India emerged as the largest and second-largest market worldwide for the two brands, the company said, which has covered the fifteen months ended March 31 in its latest annual report.

Zomato

Zomato’s move to acquire the movies and ticketing business of Paytm will pose a big challenge to BookMyShow, which is the market leader in the segment. According to industry analysts, Zomato seems keen to scale up its live events and ticketing businesses through its subsidiary, Zomato Entertainment, which also invests Rs 100 crore.

Honeywell Automation

Honeywell and PwC India have announced a strategic mission aimed at accelerating digital transformation for businesses, helping them to future-proof their operations. This collaboration leverages PwC India’s management and technical consulting expertise with Honeywell’s cutting-edge operational technology (OT) software solutions to deliver enhanced reliability, cybersecurity, and reduced energy consumption. The initiative targets the industrial, buildings, and infrastructure sectors, focusing on enterprise-wide digitalisation.

FSN E-Commerce Ventures

Nykaa remained the top pick among startups over the next few years as the market remained largely devoid of deep-pocketed players. But that glow is fading now, with competition catching up fast Reliance Retail’s Tira has raised the competitive heat in the last year within the $19–20 billion beauty and personal care (BPC) market in India, and so have players such as Tata Cliq Palette, Myntra and Shoppers Stop.