Benchmark equity indices Sensex and Nifty settled in green on Monday after buying in power, auto, and industrial stocks helped recover early lows amid a bearish trend in global equity markets. However, investors remained on the back foot amid volatility in the market ahead of the week’s monthly expiry and selling pressure on metal and oil & gas stocks.
The BSE Sensex jumped 131.18 points or 0.17 per cent to close at 77,341.08. The NSE Nifty rose 36.75 points or 0.16 per cent to settle at 23,537.85. Sector-wise it was a mixed bag with buying seen in Auto, FMCG, and Consumer Durables.
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“GST council was chaired last weekend where the government rationalized sectors like paper, packaging, railways, and consumer goods, hence, these sectors were in focus today. Fertilizer stocks however saw profit booking as no GST cut was announced in the meeting,” said Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services Ltd.
“This week, the primary market remains active, with ten IPOs set to launch and eleven companies scheduled to list across the mainboard and SME segments. Markets this week will take cues from global macro data points and the progress of the monsoon back home. We expect Nifty to consolidate at the current juncture with a bout of volatility amid monthly derivatives expiry,” he said.
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Here are the key stocks to watch on June 25:
Happiest Minds Technologies: The IT firm’s promoter and executive chairman, Ashok Soota, has initiated a block deal to sell a 6 per cent in the company. The total offer size for this deal amounts to Rs 754 crore. The floor price for the sale is fixed at Rs 826 per share, which is a 10 per cent discount on the last closing price.
Maruti Suzuki India: The automobile major has received a GST demand notice of Rs 5.4 crore for the period July 2017 to March 2023 on account of input tax credit denial on certain services.
RBL Bank: RBL Bank’s board will meet on June 27, 2024, to consider a proposal for raising funds through a Qualified Institutional Placement (QIP) and issuing debt securities in one or more tranches on a private placement basis.
Borosil: The company has launched its Qualified Institutional Placement (QIP) after receiving approval from its Board of Directors. The floor price of the QIP is set at Rs 331.75 per equity share. This is in line with the company’s earlier resolution to raise up to Rs 250 crore through this fundraising route.
Shree Cement: The country’s third largest cement manufacturer announced achieving an installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit.
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