Stocks to watch: Shares of firms like Adani Ent, IndusInd Bank, Infosys, Tata Motors, HCL Tech, and others will be in focus on Friday’s trade.
Stocks To Watch June 2: The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 18,621.50, up 58 points or 0.31 per cent from the previous close.
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Adani Enterprises: The company’s wholly-owned subsidiary – Adani Road Transport inked pact to acquire Gujarat Road and Infrastructure Company, which is owned 56.8 per cent by Macquarie Asia Infrastructure Fund, and Swarna Tollway, completely owned by Macquarie Asia Infrastructure Fund.
IndusInd Bank, Infosys: Shares of IndusInd Bank and Infosys will be in focus as the companies will go ex-dividend today.
Tata Motors: The automaker reported 1.62 per cent decline in total sales at 74,973 units in May as compared to the same month last year. Total domestic sales, too, slumped 2 per cent year-on-year (YoY) at 73,448 units. Domestic passenger vehicle sales, however, rose 6 per cent YoY to 45,878 units.
NHPC: The state-owned hydro power major signed agreement with Nepalese utility Vidhyut Utpadan Company to develop a 480 megawatt (MW) Phukot Karnali hydroelectric project. The project will use the flow from the Karnali River for power generation and the generated power will be fed into the integrated power system of Nepal.
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AstraZeneca: The company received approval from the Central Drugs Standard Control Organisation (CDSCO) for its cancer drug Tremelimumab Concentrate. The approval paves the way for the launch of Tremelimumab solution of 20 mg/ml, said the management.
HCL Technologies: The IT major inked an agreement with IIT-Kharagpur for collaboration in the field of petroleum engineering and earth sciences. Both will jointly develop innovative and sustainable solutions to address critical challenges of the petroleum industry.
Dish TV: The two-member board of the Dish TV group declined a notice by majority shareholders to appoint three of their nominees to the board and said they made “numerical and procedural lapses.”
NTPC: The company partnered with Ohmium International (Ohmium) to manufacture proton exchange membrane (PEM) electrolysers, in order to produce green hydrogen in India. Ohmium’s advanced green hydrogen technology will be used to decarbonise energy, transport and ammonia projects.
SJVN: The company signed a project development agreement for 669-MW Lower Arun Hydro Electric Project in Nepal. The project shall be constructed in five years at a cost of Rs 5,792 crore with a levelised tariff of Rs 4.99 per unit, said the company.
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Lupin: The pharma major’s wholly-owned subsidiary, Novel Laboratories Inc, has received approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application for diazepam rectal gel.
TVS Motor: The company hiked price of its TVS IQube scooter by Rs 17,000 to Rs 20,000 depending on the variant, making the announcement after the government’s FAME II programme revised subsidies for electric two-wheelers (E2W).
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