Indian equity markets extended gains on Wednesday, June 11, tracking positive global cues and supported by continued foreign fund inflows. The benchmark BSE Sensex rose by 123.42 points or 0.15% to close at 82,515.14. The broader NSE Nifty advanced by 37.15 points or 0.15%, ending at 25,141.40. This marked the sixth consecutive session of gains for the Nifty.
On Thursday, June 12, several stocks are expected to remain in focus following company-specific developments and announcements.
Stocks to Watch on June 12:
1. ONGC, Oil India (OIL):
Crude oil prices surged over 4% amid rising tensions in West Asia. Brent crude approached the $70 per barrel mark, potentially impacting oil exploration and marketing companies (OMCs) and downstream sectors like paints and aviation.
2. Zydus Lifesciences:
The US FDA has cleared the company’s Active Pharmaceutical Ingredient (API) manufacturing facility in Dabhasa, Gujarat. An Establishment Inspection Report (EIR) has been issued, which indicates successful completion of the inspection.
3. Sterlite Technologies (STL)/Dilip Buildcon:
The joint venture of STL and Dilip Buildcon secured a contract from BSNL under the BharatNet project. The order, valued at ₹2,631 crore, covers network deployment in Jammu & Kashmir and Ladakh.
4. Waaree Energies:
The company signed a Power Purchase Agreement (PPA) for 150 MW out of its 170 MW solar project capacity. The agreement is with Rewa Ultra Mega Solar Ltd and MP Power Management Company Ltd.
5. RailTel Corporation:
RailTel received a work order worth ₹12 crore from South Eastern Coalfields Ltd. The scope includes IT and communication-related infrastructure services.
6. City Union Bank:
The bank’s board approved raising up to ₹500 crore through Qualified Institutional Placement (QIP), subject to regulatory and shareholder approvals.
7. SEPC Ltd:
SEPC has been awarded a Letter of Award (LoA) from Parmeshi Urja Ltd for executing a 133 MW AC solar project across 26 locations in Maharashtra. The total project value is ₹650 crore.
8. HG Infra Engineering:
HG Infra was declared the lowest bidder for an interstate transmission system project under the Eastern Region Generation Scheme-I in Odisha. The contract spans 35 years with expected annual transmission charges of ₹43 crore.
9. Northern Arc Capital:
The Reserve Bank of India (RBI) has granted approval to Northern Arc to commence and operate as a factoring business under relevant regulatory provisions.
10. Lemon Tree Hotels:
The company announced the signing of a new property in Madhya Pradesh. The hotel will feature 72 rooms and expand the company’s footprint in the central Indian market.
11. OMCs and Paint Companies:
With crude oil prices climbing over geopolitical tensions, stock movements in oil marketing companies and industries dependent on crude derivatives, such as paints, may witness volatility.
12. Paytm:
The Ministry of Finance clarified that speculation around Merchant Discount Rate (MDR) being applied to UPI transactions is unfounded and baseless, impacting sentiment around digital payment stocks.
13. MCX:
The National Stock Exchange (NSE) received SEBI’s approval to launch electricity futures, introducing competition in the energy derivatives market.
14. C.E. Info Systems (MapmyIndia):
PhonePe is reportedly planning to offload up to a 5% stake in the company via block deals. The floor price is expected to be at a 10% 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.
