STOCK TO WATCH ON JUNE 7th

Stocks to Watch on Friday, June 07, 2024

Indian stock markets might see a quieter start this Friday morning, influenced by mixed global cues. GIFT Nifty futures suggest a modest opening, trading just 20 points higher at 22,919 compared to Nifty50 futures.

In the Asia-Pacific region, markets exhibited mixed trends. Japan’s Nikkei 225 fell by 0.14%, while the Topix index remained nearly flat with a slight increase of 0.05%. On Thursday in the US, the S&P 500 closed slightly lower from its intraday high, the Nasdaq Composite dipped by 0.09%, and the Dow Jones Industrial Average rose by 0.2%.

In India, all eyes are on the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decision on interest rates, expected at 10:00 AM today.

Here are some hot stocks that could see significant action on Friday:

Bajaj Finance: Bajaj Housing Finance, a subsidiary of Bajaj Finance, approved an IPO of equity shares valued at Rs 10 each. The IPO will include a fresh issue of equity shares amounting to Rs 4,000 crore.

Wipro: The IT services company secured a $500 million contract (approximately Rs 4,175 crore) from a leading US communication service provider. Over five years, Wipro will deliver managed services for various products and industry-specific solutions.

ICICI Bank: SEBI issued an administrative warning to ICICI Bank for alleged employee outreach intended to influence votes on the delisting of ICICI Securities’ equity shares.

PB Fintech: CEO Yashish Dahiya received a show-cause notice from SEBI concerning a $2 million investment by the Dubai unit in YKNP Marketing Management. The company is currently seeking legal advice.

Tata Chemicals: Tata Chemicals Europe, a subsidiary of Tata Chemicals, faced a £1.1 million fine from Chester Crown Court in the UK due to a 2016 safety incident that led to a contractor’s injury and subsequent death.

Hindustan Unilever: Arun Neelakantan has been appointed as Executive Director, effective July 1.

RVNL: NTPC awarded RVNL a project worth Rs 495 crore, according to a letter of acceptance received.

Hero MotoCorp: India’s largest two-wheeler manufacturer, Hero MotoCorp, acquired an additional 2.2% stake in Ather Energy, a Bengaluru-based electric mobility startup, for Rs 125 crore.

These stocks are set to capture the attention of investors today in the Indian stock market.