Stocks to Watch on July 3: The Nifty futures contract traded on the GIFT Nifty indicates a positive start to domestic equities. The contract was trading at 19,360, up 15 points or 0.08% from the previous close.
HDFC, HDFC Bank
Housing Development Finance Corporation and HDFC Bank boards announced the merger of the two entities, effective from July 1 following approval from shareholders and regulators.
Adani Transmission
In two bulk deals, GQG Partners acquired a total of 2.13 crore shares in Adani Transmission. The GQG Partners Emerging Markets Equity Fund purchased 72.59 lakh shares at a rate of Rs 786.19 per share, while the Goldman Sachs GQG Partners International Opportunities Fund bought 1.40 crore shares at the same price of Rs 786.19 per share.
GHCL
Shareholders of soda ash manufacturer GHCL have rejected a resolution to reappoint its chairman Sanjay Dalmia as a director of the company, with about 32% of the votes polled against the motion.
NTPC
The production from coal mines of NTPC almost doubled to 8.48 million metric tonnes (MMT) in the first quarter of FY24. NTPC produced 4.27 MMT coal from its captive mines in Q1 FY23.
Coal India
Coal India’s production in Q1FY24 rose by 10% on-year to 175.5 MT, the highest ever for a first quarter. This accounts for around 22.5% of its FY2024 target of 780 MT. Supplies during the quarter also increased by 5% to 187 MT.
Aditya Birla Capital
Aditya Birla Capital completed Rs 3,000 crore fundraise. Key investors in the fundraise were BlackRock, Abu Dhabi Investment Authority, and Massachusetts Institute of Technology.A total of Rs 3,000 crore was raised through a Rs 1,750 crore Qualified Institutional Placement and a Rs 1,250 crore preferential issuance of equity shares.
Reliance Industries
RIL and bp begin commercial production from the third deepwater field in India’s KG D6 Block, MJ field. At its peak, the output will result in producing a third of India’s domestic gas production.
Vedanta
Vedanta has announced a review of its steel and steel-related raw materials businesses to evaluate various options, including a strategic sale. Additionally, Sebi fined the company Rs 30 lakh for violating disclosure norms as Vedanta made incorrect disclosures regarding its plan to enter the semiconductor business.
Airtel
Warburg Pincus affiliate has offloaded 0.3% stake in Bharti Airtel Ltd through a block deal on Friday for Rs 1,649 crore.
TVS Motor
TVS Motor Company expects growth momentum to continue in the current fiscal, with the overall economy anticipated to grow at a robust pace and a continuous improvement in the road infrastructure.
Auto stocks
Shares of auto companies will be in focus following the release of monthly sales data.
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