Buzzing stocks: The Nifty futures on the Singapore Exchange (SGX) were trading 14 points or 0.08% higher at 18,693.5 in the early morning Asian trade.
Stocks in focus: Benchmark indices NSE Nifty 50 and BSE Sensex may open flat amid muted global cues. SGX Nifty was trading 14 points or 0.08% higher at 18,693.5 in the early morning Asian trade. “The domestic market experienced profit booking due to selling pressure in the IT sector on Tuesday. IT stocks witnessed a decline in anticipation of further downward revision in spending. However, a rally in auto and banks helped to recover the losses. Going ahead an important influencer will be the commentary on growth and inflation forecasts by the RBI following its MPC meeting given the general consensus that the rate pause will continue,” said Vinod Nair, Head of Research at Geojit Financial Services.
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Stocks to Watch on 7 June, 2023
Adani Group Stocks
Adani Green Energy Ltd, Adani Transmission Ltd, and Adani Wilmar Ltd circuit limits have been revised to 10% from 5%. Adani Power will be the biggest beneficiary as the circuit limit has been increased to 20% from 5%. Meanwhile, New Delhi Television Ltd (NDTV) will move out of the short-term additional surveillance framework from Wednesday, according to a circular from the stock exchanges.
Tata Power
Tata Power stock will be in focus today as the company’s shares will trade ex-dividend.
JSW Ispat Special Products
Kiran Menon has resigned as the Chief Financial Officer (CFO) with effect from June 6.
GMR Airports Infrastructure
GMR Hyderabad International Airport (GHIAL) has divested approximately 8.18 lakh square feet of warehouse facility at the Hyderabad Airport to ILP Core Ventures I PTE Limited for Rs 188.1 crore.
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Wipro
The company launched the Wipro Industry Innovation Experience for Financial Services solution on Microsoft Cloud. Microsoft and Wipro will develop new solutions to help financial services clients accelerate growth and deepen client relationships.
Engineers India
National Aluminium Company (NALCO) has selected the company for providing consultancy services for the updation of a detailed project report (DPR) for Pottangi bauxite mines for enhancing raw-ore production. Jindal Steel and Power (JSPL) has signed a contract with Engineers India for the supply of basic engineering and detail engineering for a direct reduced iron plant at Angul, Orissa. These orders are worth Rs 20.55 crore.
Deepak Fertilisers & Petrochemicals Corporation
Subsidiary Performance Chemiserve has raised Rs 900 crore via the issuance of non-convertible debentures (NCDs) on a private placement basis to qualified institutional buyers. NCDs are to be listed on BSE Limited.
Read More: CLOSING BELL: Sensex, Nifty End Flat & Green; Banks Rise, IT Stocks Fall
G R Infraprojects
GR Hasapur Badadal Highway has executed the concession agreement with the National Highways Authority of India (NHAI). The bid project cost is Rs 872.2 crore. The said highway project in Maharashtra is to be executed in Hybrid Annuity Mode under Bharatmala Pariyojana.
Torrent Power
The company has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for the development of three pumped storage hydro projects of 5,700 MW capacity in Maharashtra. The projects would entail an investment of about Rs 27,000 crore. Torrent intends to execute these projects over a period of 5 years.
