Stocks To Watch- HDFC, HDFC Bank, Adani Transmission, Vedanta, Reliance Industries, Coal India, GHCL, NTPC

Stocks To Watch: HDFC, HDFC Bank, Adani Transmission, Vedanta, Reliance Industries, Coal India, GHCL, NTPC

Stocks in focus: The GIFT Nifty recorded a 70 point gain during Monday’s early trading session, with a value of 19,342.5 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. On Friday, benchmark Indian equity indices Nifty and Sensex hit all-time highs and settled at record closing highs. Nifty 50 surpassed over 19,200 but closed at 19,189.05 while Sensex ended trade at 64,718.56, higher by 800 points.

“The lack of global support had restrained the Indian indices from pursuing their record highs earlier, despite the presence of a resilient domestic macroeconomic background. With positive surprises assisting buoyancy in the global market and the advance of the southwest monsoon, the domestic market succeeded in marching to new highs with renewed strength. Global investor sentiments were uplifted by a favourable revision in Q1 GDP, a fall in jobless claims, and the positive outcome of the Fed’s US bank stress test,” said Vinod Nair, Head of Research at Geojit Financial Services.

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.