Indian equity markets are likely to remain cautious on Tuesday amid mixed global cues, while investors track corporate developments, block deals, fundraising plans, monthly business updates and government stake sale announcements.
Here are the key stocks likely to remain in focus today:
NLC India: Positive/Neutral
NLC India will be in focus after the Government of India announced an Offer for Sale (OFS) of up to 3% stake in the company. The OFS comprises a base offer of 2% equity and an additional 1% greenshoe option in case of oversubscription. The floor price has been fixed at ₹303 per share. Based on the offer size, the total issue is estimated to be worth around ₹1,260 crore. The OFS opens for non-retail investors on June 9 and retail investors on June 10.
Bluestone Jewellery: Negative/Neutral
Shares of Bluestone Jewellery may remain under pressure after existing investors including 360 One, Accel, IvyCap and Iron Pillar Funds proposed to sell a combined 3.8% stake through a block deal. The transaction is estimated at around ₹300 crore and is being offered at ₹520 per share, implying a discount of approximately 5.4% to the prevailing market price.
RVNL: Positive
Rail Vikas Nigam Limited (RVNL) secured a Letter of Acceptance worth ₹221 crore from South East Central Railway. The project involves replacement of panel interlocking systems with modern electronic interlocking systems, strengthening RVNL’s railway infrastructure order book.
Grasim Industries: Positive
Grasim Industries announced plans to invest ₹3,094 crore to expand its Lyocell manufacturing capacity at its Karnataka facility. The investment underscores the company’s focus on the specialty fibres segment and long-term growth opportunities.
JSW Energy: Positive
JSW Energy successfully commissioned its Halol Wind Blade Manufacturing Plant in Gujarat, marking another step in strengthening its renewable energy ecosystem and supply chain capabilities.
SML Isuzu: Positive
The commercial vehicle maker reported healthy May operating numbers. Production rose 7% year-on-year to 1,729 units, while sales increased 11.6% to 1,678 units. Exports more than doubled to 89 units from 40 units a year earlier.
IRB Infrastructure Developers: Positive
IRB Infra reported a 25% year-on-year increase in toll collections for May at ₹843 crore, indicating continued strength in traffic and road infrastructure activity.
Bajaj Finserv: Positive
Bajaj Finserv reported strong insurance business updates for May. Bajaj Allianz Life Insurance’s total premium increased 66% year-on-year to ₹1,236 crore, while Bajaj Allianz General Insurance reported gross direct premium underwritten of ₹1,343 crore, up 1.7% year-on-year.
Fino Payments Bank: Mixed
Fino Payments Bank reported strong growth in deposits and lending activity. Deposit accounts increased 29% year-on-year, while loan disbursals surged 186% to ₹210 crore. However, throughput transaction business declined 48% year-on-year.
JNK India: Positive
JNK India secured two large export orders, each falling in the ₹100-300 crore category. The contracts include an order from CC7 Emirates Engineering Solutions and another export order for an Incinerator Package and Waste Gas Handling Systems.
HDB Financial Services: Positive
The board will meet on June 11 to consider various fundraising options. The announcement comes as investors continue to monitor developments around the NBFC’s growth and capital plans.
TCS: Positive
Tata Consultancy Services launched a dedicated business unit focused on helping global enterprises establish and scale Global Capability Centres (GCCs), a rapidly growing segment in India’s technology services industry.
HCLTech: Positive
HCLTech launched a dedicated AI Innovation Zone in collaboration with Google Cloud in the United States, strengthening its AI and cloud capabilities.
Amber Enterprises: Positive
Amber Enterprises received final approval from the NCLT Chandigarh Bench for the merger of its subsidiary AmberPR Tech into the parent company.
Avenue Supermarts: Positive
The operator of D-Mart invested ₹150 crore into its subsidiary Avenue E-Commerce, signalling continued investment in its digital retail business.
Ather Energy: Neutral
The electric two-wheeler maker’s board is scheduled to meet on June 12 to consider raising funds through bond issuance.
Kirloskar Ferrous Industries: Positive
The board will meet on June 12 to consider a final dividend recommendation for shareholders.
Brigade Enterprises: Positive
The company fixed June 17 as the record date for its recently announced 1:3 bonus issue.
Panacea Biotec: Positive
Panacea Biotec launched the “DENSTAR” initiative aimed at developing a dengue vaccine specifically for African markets.
Goldiam International: Positive
The company announced the opening of its 25th retail outlet under the ORIGEM lab-grown diamond jewellery brand.
Lemon Tree Hotels: Positive
Lemon Tree signed a franchise agreement for a new Key Prima hotel in Rajasthan featuring 88 rooms and related hospitality facilities.
Hindustan Copper: Neutral
The government appointed Anupam Misra as the new Chairman and Managing Director of Hindustan Copper.
Adani Enterprises: Neutral
A step-down subsidiary acquired 100% stake in Portus Ventures to undertake new real estate-related activities.
Persistent Systems: Neutral
The company approved the transfer of its entire stake in Persistent Systems UK to Aepona Group and also approved the merger of subsidiary MediaAgility India into the parent company.
Stocks likely to remain in focus today: NLC India, Bluestone Jewellery, RVNL, Grasim Industries, JSW Energy, SML Isuzu, IRB Infrastructure, Bajaj Finserv, JNK India, HDB Financial Services, TCS and HCLTech.
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.