GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap up opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 72 points or 0.30% at 24,458 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 rose 163 points or 0.67% to settle at 24,286.50, while the BSE Sensex jumped 545 points or 0.69% to close at 79,986.80.
Stocks to watch on July 4, 2024
Marico
On Wednesday, FMCG-major Marico announced that it has collaborated with Kaya Limited, a dermatological solutions provider, which will give Marico exclusive rights to handle sales and marketing of Kaya’s range of 75+ personal care products outside of Kaya’s clinics.
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Reliance Industries, Aurobindo Pharma, ONGC, Bajaj Consumer, Bank of Baroda Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea
Bajaj Finance
Bajaj Finance posted a growth of 10% year-on-year in new loans booked in the quarter ended June 30, 2024, standing at 10.97 million against 9.94 million it booked in the same period a year ago. The company’s deposit book stood at approximately Rs 62,750 crore as of June 30, 2024, as compared to Rs 49,944 crore as of June 30, 2023, registering 26% YoY growth.
Vedanta
Vedanta Ltd on Wednesday reported a rise in production of aluminium, zinc, iron ore and steel in the June quarter. However, mined metal production overseas and oil and gas dropped during the quarter. The company said that the aluminium output grew 3% to 5,96,000 tonnes in the first quarter over the year-ago period, Vedanta said in a filing. At Zinc India, the saleable metal output grew to 2,62,000 tonnes over 2,60,000 tonnes. While at Zinc International the mined metal output dropped to 38,000 tonnes, over 68,000 tonnes in the first quarter of FY24.
Bandhan Bank
Bandhan Bank’s total deposits rose 22.8% yearly to Rs 1.33 lakh crore in the April–June quarter, according to the provisional figures released by the bank. The bank posted a 21.8% advance in loans and advances at Rs 1.25 lakh crore in the first quarter, as compared to Rs 1.03 lakh crore in the same period a year ago, according to an exchange filing.
Brigade Enterprises
Brigade Group has signed a joint development for a residential project in West Bengaluru for a gross development value (GDV) of about Rs 1,100 crore. The project located on Tumkur Road sprawls 8 acres and has a development potential of 1.2 million square feet, the company said. The project will consist primarily of two and three-bedroom apartments.
L&T Finance
L&T Finance’s retail loan book grew 31% yearly to Rs 84,440 crore in the first quarter of FY25, according to the provisional quarterly business update. The non-banking lender reported an advance of 33% in retail disbursements standing at Rs 14,830 crore in the April-June quarter, against Rs 11,192 crore in the same period last year. The realisation of the portfolio is estimated at 95%.
Suryoday Small Finance Bank
Suryoday Small Finance Bank’s gross advances rose 42% year-on-year to Rs 9,037 crore in the quarter-ended June. Deposits rose 42% to Rs 8,137 crore over a year ago, the bank said in an exchange filing. CASA ratio rose to 17.7% from 14.9% in the year-ago period.