Benchmark equity indices settled at fresh closing highs on Friday following sharp gains in index heavyweights HDFC Bank and Reliance Industries. The BSE Sensex jumped 181.88 points or 0.24 per cent to close at 76,992.77. The NSE Nifty50 gained 66.70 points or 0.29 per cent to finish at 23,465.60. Nifty Realty and Auto were the sector performers, whereas FMCG and IT counters saw profit booking.
“India VIX further cooled off by 5 per cent to below 13 level indicating a stable market environment. India’s inflation fell to 1-year low and positive commentary from various new ministries uplifted sentiments. The market is now awaiting a favourable budget which is likely to be announced next month. On Friday, Defence, shipbuilding, and capital goods stocks were in strong momentum after the Defence Minster announced plans to increase India’s exports multifold over the next few years,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.
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“We expect market uptrend to continue next week supported by positive macro trends, expectation of sustained government spending and policy continuity, healthy monsoon and strong earnings,” he added.
Here are the key stocks to watch on June 18:
Hindustan Aeronautics: The company has received a tender order worth Rs 50,000 crore from the Defense Ministry to supply a total of 156 Light Combat Helicopters, out of which 90 are for the Indian Army and the rest of the Indian Air Force. This is the single largest order given for the acquisition of choppers by an Indian company.
IIFL Finance: The non-banking finance company (NBFC) said the Reserve Bank of India (RBI) has concluded its special audit of the company, started in response to significant concerns identified in its gold loan portfolio. In addition, the company also reported a net profit of Rs 430.6 crore, down 5.9 per cent from the year-ago period. The net interest income (NII) increased 28.5 per cent year-on-year to Rs 1,121.1 crore.
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Bharti Airtel: The telecom major has paid Rs 7,904 crore to the Department of Telecom, settling all outstanding deferred liabilities related to spectrum acquired in auctions from 2012 and 2015. These liabilities carried interest rates of up to 10 per cent.
Zomato: The online delivery company has confirmed that it is in conversation with Paytm to acquire the company’s movie and events business. The move is aimed at revitalizing Paytm amid declining sales. According to reports, the deal size is estimated at Rs 1,500 crore.
Adani Enterprises: The company’s promoter entities, led by billionaire Gautam Adani raised their stake in Adani Enterprises by 2.02 per cent through open market transactions between September 2023 and June 2024. This increased their combined voting capital from 71.95 per cent to 73.95 per cent.
