Indian equity markets are expected to track global cues on Wednesday, while investors react to major corporate developments including a significant court relief for Bharti Airtel, a multi-thousand crore infrastructure order for Afcons Infrastructure, fresh strategic partnerships, government stake sale developments and renewable energy project wins.
Here are the key stocks likely to remain in focus today:
Bharti Airtel / Bharti Hexacom: Positive
Bharti Airtel received a major legal relief after the Bombay High Court set aside an ₹8,414 crore demand notice issued against the telecom operator. The order also includes relief of ₹473.7 crore related to its subsidiary Bharti Hexacom. The development removes a significant overhang and is likely to be viewed positively by investors.
Afcons Infrastructure: Positive
Afcons Infrastructure secured a massive Letter of Acceptance worth ₹5,301 crore for the Breakwater Project at the upcoming Vadhvan Port. The order is one of the largest recent wins for the company and strengthens its infrastructure project pipeline.
Dixon Technologies: Positive
Dixon Technologies signed a binding joint venture term sheet with Taiwan-based Gemtek to manufacture optical transceivers and networking equipment targeting the data centre and telecom ecosystem. Dixon will hold a 60% stake in the venture, while Gemtek will own the remaining 40%.
NLC India: Neutral
NLC India will remain in focus as the government decided to exercise the oversubscription option in the ongoing Offer for Sale (OFS). With the greenshoe option activated, the total offer size now rises to 3% of equity capital. Investor response and subscription levels will be closely monitored.
NTPC Green Energy: Positive
NTPC Green’s subsidiary, NTPC Renewable Energy, will develop a 250 MW solar power project in Uttar Pradesh, further expanding the group’s renewable energy portfolio.
Ajanta Pharma: Positive
A block deal saw Kotak Mahindra Mutual Fund purchase 21.02 lakh shares and Aditya Birla Sun Life Mutual Fund acquire 13.47 lakh shares. The shares were sold by Ravi Agrawal Trust, part of the promoter group, at ₹2,968 per share.
Emcure Pharmaceuticals: Positive
Kotak Mahindra Mutual Fund acquired 36 lakh shares in Emcure Pharmaceuticals through a block deal, while BC Investments IV Limited sold an equivalent stake at ₹1,700 per share.
Anupam Rasayan: Positive
Anupam Rasayan announced an open offer following the acquisition of a 43% stake in Bliss GVS Pharma, a development that could attract investor attention.
Quality Power: Positive
The company will acquire a 100% stake in Winwin Speciality Insulators in a deal valued at ₹315 crore, strengthening its position in the power equipment segment.
HCLTech: Positive
HCLTech launched a new Cybersecurity Fusion Center in Ontario, Canada, expanding its cybersecurity capabilities and strengthening its North American presence.
Welspun Corp: Positive
Welspun Mauritius Holdings divested a 4.5% stake in EPIC for $75.6 million. Despite the sale, the group’s US subsidiary continues to hold a significant 22% stake in the company.
Patanjali Foods: Neutral
Patanjali Foods received a notice from the Maharashtra Food and Drug Administration regarding alleged misleading advertisements and promotional labelling of certain juice products. The company clarified that no monetary penalty has been imposed.
Newgen Software: Negative
The company announced that CEO Virender Jeet will step down effective August 31, citing personal and professional reasons. Leadership transitions are likely to remain a key monitorable for investors.
HDB Financial Services: Positive
The board is scheduled to meet on June 11 to consider fundraising plans, keeping the stock and the broader NBFC space in focus.
Ather Energy: Neutral
The electric vehicle company will hold a board meeting on June 12 to consider raising funds through bond issuance.
Grasim, RVNL, JSW Energy and Bajaj Finserv: Follow-through watch
These stocks may continue to remain on traders’ radar after recent announcements relating to capacity expansion, order wins, project commissioning and strong monthly business updates.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors should consult their financial advisors before making investment decisions.