Indian equity benchmark indices Sensex and Nifty closed sharply lower on Tuesday, June 3. The BSE Sensex fell 636.24 points or 0.78% to end at 80,737.51. During intraday trade, the index dropped as much as 798.66 points or 0.98% to hit a low of 80,575.09. The NSE Nifty declined 174.10 points or 0.70% to settle at 24,542.50.
Today, several stocks are likely to remain in focus due to recent corporate and market developments:
Stocks to Watch, June 4:
-
HDFC Bank: The Securities and Exchange Board of India (SEBI) has approved the ₹12,500 crore IPO of HDB Financial Services, a subsidiary of HDFC Bank.
-
Wipro: The IT major has secured a multi-year deal with Entrust to provide AI-driven technology services.
-
Alkem Laboratories: Promoter plans to sell a 1.42% stake via block deals. The floor price is set at ₹4,850 per share.
-
Ashok Leyland: The company has bagged an order worth ₹183 crore from Tamil Nadu State Transport Corporation to supply BSVI diesel chassis and fully built buses.
-
Techno Electric: Selected by RailTel to set up and operate a 10 MW data centre in Noida on a revenue-sharing model.
-
Zydus Lifesciences: Its US subsidiary will acquire two biologics manufacturing units from Agenus for an upfront payment of $75 million.
-
Sun Pharma: The company will discontinue studies on its psoriasis treatment candidate SCD-044 after it failed to meet its primary endpoints.
-
Aditya Birla Fashion and Retail (ABFRL): Flipkart is reportedly selling its entire 6% stake in the company via a block deal at a 7% discount to the current market price.
-
NMDC: Announced a price cut of ₹140 per tonne for lump ore and ₹150 per tonne for fines, effective June 4.
-
Ola Electric: Hyundai Motor and Kia sold shares in a block deal on Tuesday. Citi was reportedly the buyer.
-
Yes Bank: Carlyle has offloaded 41 crore shares at ₹21.6 per share through a block deal.
-
Tata Technologies: TPG Rise is expected to sell a 2.10% equity stake via a block deal at a 3% discount to the CMP.
-
Indegene: Carlyle is planning to sell its entire 10.20% stake via a block deal. The floor price represents a 6.4% discount to the current market price.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
