Stocks to Watch on Tuesday, July 11, 2023: The markets are likely to start trade on an optimistic note on Tuesday tracking gains in the overseas peers.
At 07:30 AM, the GIFT Nifty July futures quoted at 19,486, indicating an opening gain of 40-odd points on the Nifty 50.
Meanwhile, these stocks are likely to see some action in trade on Tuesday.
Reliance Results Preview: The Mukesh Ambani-led firm may report a muted performance for the April-June quarter of FY24, with most brokerages expecting it to have witnessed a year-on-year (YoY) and quarter-on-quarter (QoQ) contraction in revenue and net profit during the period because of a poor showing by its oil-to-chemicals (O2C) division. READ MORE
Results today: Elecon Engineering, Excel Industries and PCBL among few of the notable companies scheduled to announce June quarter earnings on Tuesday.
Vedanta: After withdrawal of Taiwanese electronic contract manufacturer Foxconn from its chip joint venture, Vedanta on Monday asserted that it is fully committed to its semiconductor project and has lined up other partners to set up India's first foundry. READ MORE
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Life Insurance Corporation (LIC): The state-owned insurer’s new business premium (NBP) in June increased 21 per cent to Rs 24,970.82 crore while the private sector life insurers registered growth of 13 per cent to Rs 11,990.94 crore.
Vadilal: US private investment firm Bain Capital is in talks to buy ice cream maker Vadilal and also considering taking control of Vadilal Industries and Vadilal Enterprises, which make and market the ice cream, CNBC-TV18 reported. READ MORE
Tata Communications (Tata Comm): The Tata Group firm plans to acquire the remaining 41.9 per cent stake in eSIM company OSSE France for Rs 99.3 crore. Earlier in 2020, it had acquired a majority stake of 58.1 pc in Oasis Smart Sim Europe SAS (OSSE France) and Oasis Smart E-Sim Pte (OSEPL) Oasis, making OSSE France and OSEPL its subsidiaries.
APL Apollo Tubes: The company’s subsidiary APL Apollo Building Products was granted incentives worth Rs 500 crore by the Chattisgarh government State Investment Promotion Board.
Power Finance Corporation (PFC): The firm has raised Rs 6,100 crore through a blend of medium-term (22 months) and long-term bonds (10-year) for onward lending in the key infrastructure sector.
CarTrade Tech: The company plans to acquire Sobek Auto from OLX India for a consideration of Rs 537.43 crore.
Nazara Technologies: The company’s board has approved a fund raising plan of up to Rs 750 crore.
Satin Creditcare Network: The company’s board has approved raising of capital worth Rs 5,000 crore by way of issuance of non-convertible debentures.
Sanghvi Movers: The firm has secured work orders to the tune of Rs 150 crore in the renewable energy sector.
Taylormade Renewables: The company’s board has approved a proposal to migrate its equity shares from BSE SME platform to the main board of BSE.
Stocks in F&O ban: BHEL, Delta Corp, Granules, Indiabulls Housing Finance, India Cements, PNB and Zee Entertainment are the seven stocks in F&O ban period on Tuesday.