Stocks To Watch: Tata Power, Kotak Mahindra, Tata Steel, GAIL, Blue Dart, CEAT, Aether, NHPC

Here are the stocks to watch before going into trade today.

Mallica Mishra

09 Jun 2023, 08:25 AM IST

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A rally in technology stocks resumed Thursday, pushing the S&P 500’s gains since an October low past 20%, the marker of a bull market. A jump in jobless claims to the highest since October 2021 delivered a boost to the tech sector.

The S&P 500 added 0.6% and the tech-heavy Nasdaq 100 rose 1.3% as chipmakers including Nvidia Corp. and Advanced Micro Devices Inc. were among the biggest gainers.

Investors are reassessing the trajectory of Fed policy after central banks in Australia and Canada this week unexpectedly raised rates. In Europe, the Stoxx 600 ended little changed with SBB, the company at the center of Sweden’s property crisis, down 12%. Back home the policy rates were left unchanged by the RBI at 6.5%.

Oil dropped on regional media reports that ignited speculation the U.S. and Iran are nearing a deal that would pave the way for more Iranian crude exports. US officials denied the reports.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.72% and Bitcoin was trading below 27,000-level.

At 5:33 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 0.15% at 18,749.

Domestic benchmark stock indices slid after inching closer to record highs on Thursday as all sectors, except metals, declined after the RBI kept policy rates unchanged. The local currency depreciated 2 paise to close at 82.57 after opening at 82.58 against the greenback on Thursday.

Foreign investors remained net buyers for the third consecutive day in a row on Thursday and mopped up stocks worth Rs 212.4 crore, while domestic institutional investors turned net buyers and offloaded equities worth Rs 405 crore, according to the NSE data.

Stocks To Watch

Tata Power, Tata Steel: Tata Power Renewable Energy, through its subsidiary TP Vardhaman Surya, inked a pact with Tata Steel to produce 966 MW of hybrid renewable power. The project has a hybrid renewable capacity of 379 MW of solar and 587 MW of wind power. Tata Steel will invest 26% of its equity in the project, which is expected to be commissioned by June 1, 2025.
GAIL: GAIL won the bidding for JBF Petrochemicals’ corporate insolvency process and infused a total resolution plan amount of Rs 2,101 crore. GAIL now adds purified terephthalic acid (PTA) to its existing petrochemical portfolio through this acquisition.
Blue Dart: The company appointed Sudha Pai as chief financial officer with effect from Sept. 1, 2023. Pai is currently the chief financial officer at DHL Global Forwarding, India. Blue Dart also names V.N. Iyer as group CFO with effect from Sept. 1.
Hindustan Aeronautics: Board meeting to consider the sub-division of equity shares will be held on June 27.
Capacit’e Infraprojects: Company said it plans to raise Rs 96.3 crore through a preferential issue of equity shares. It will use the funds to support the company's long-term working capital requirements.
CEAT: Company inked an agreement to further invest up to Rs 9 crore to acquire 10.89% of Tyresnmore. Upon completion of the agreement, Tyresnmore will become a subsidiary of the company, with CEAT holding a 56.9% stake on a fully dilute basis.
IRB Infrastructure Developers: Company’s gross toll revenue rose 20% year-on-year to Rs 411.15 crore from Rs 343.51 crore a year ago.
Aether Industries: Company signed a licencing agreement with Saudi Aramco Technologies Company for commercialising Converge polyols technology. The manufacturing process of polyols was jointly developed and validated at a pre-commercial scale by Aramco and Aether.
NHPC: Company’s unit NHDC was allotted a pump hydro storage site in Madhya Pradesh with a storage capacity of 525 MW x 6 hours by the new and renewable energy department of the Government of Madhya Pradesh.
Pitti Engineering: Company made an additional investment of Rs 5 lakh in its wholly owned subsidiary, Pitti Rail and Engineering Components, by subscribing to 50,000 fully paid-up equity shares of face value of Rs 10 each through a rights issue. This investment is made to enable Pitti Rail to meet its expenses for operations and general corporate purposes.
Abans Holding: The company’s subsidiary Abans Agri Warehousing & Logistics is executing a contract to sell its entire 100% stake in Shanghai Yilan Trading Co. to Forever Trading F.Z.C. for a composite consideration of CNY 354595 (Rs 4113610.50).

Who’s Meeting Whom

Rushil Décor: To meet investors and analysts on June 9.
Meghmani Finechem: To meet investors and analysts on June 9.
Five-Star Business Finance: To meet investors and analysts on June 9.
Matrimony.com: To meet investors and analysts on June 12.
Sansera Engineering: To meet investors and analysts on June 9.
International Conveyors: To meet investors and analysts on June 9.
Gujarat Industries Power Company: To meet investors and analysts on June 14.
Brightcom Group: To meet investors and analysts on June 9.
Ksolves India: To meet investors and analysts on June 9.
Barbeque-Nation Hospitality: To meet investors and analysts on June 9.
Adani Green Energy: To meet investors and analysts on June 10.
Gokaldas Exports: To meet investors and analysts on June 9.

AGMs

Bank of Maharashtra
Mahindra CIE Automotive

Trading Tweaks

Ex-Date Annual General Meeting: Himadri Specialty Chemical, Solar Industries India, Bhansali Engineering Polymers, Elecon Engineering, Dynamatic Technologies, Voltas, and The Indian Hotels
Ex-Date Special Dividend: Cigniti Technologies, Solar Industries India, Bhansali Engineering Polymers
Ex-Date Interim Dividend: Caplin Point Laboratories, National Fertilisers, Elpro International, Maruti Interior Products, NRB Bearing
Ex-Date Final Dividend: Asian Paints, Bhansali Engineering Polymers, Cigniti Technologies, Dynamatic Technologies, Elecon Engineering Company, Himadri Speciality Chemical, Indian Hotels, Solar Industries, Voltas, HDFC Asset Management
Record-Date Interim Dividend: NRB Bearing, Caplin Point Laboratories, National Fertilisers, Elpro International, and Maruti Interior Products
Record-Date Dividend: HDFC Asset Management, Asian Paints, Dynamatic Technologies
Record-Date Special Dividend: Cigniti Technologies
Record-Date Final Dividend: Asian Paints, Cigniti Technologies, and Dynamatic Technologies
Move Out of the Short-Term ASM Framework: Cholamandalam Financial Holdings

Bulk Deals

BCL Industries: Waybroad Trading bought 1.26 lakh shares (0.52%) at Rs 480 apiece, and Rollon Investments sold 2.91 lakh shares (1.2%) at Rs 484.75 apiece.
Goodluck India: Nandanvan Investments sold 1.56 lakh shares (0.57%) at 406.97 apiece.
Steel Cast: Rushil Industries bought 1.96 lakh shares (0.97%) at Rs 495 apiece.
Eki Energy Services: Next Orbit Ventures Fund sold 2.46 lakh shares (0.89%) at Rs 593.75 apiece.

Pledge Share Details

Emami: Promoter Group Diwarkar Finvest created a pledge of 18.9 lakh shares on June 5.
Jindal Steel & Power: Promoter Group Siddeshwari Tradex revoked a pledge of 16 lakh shares on June 6.

Insider Trades

LG Balakrishnan & Bros.: Promoter Nithin Karivardhan sold 8,000 shares on June 7.
Som Distilleries & Breweries: Promoter Deepak Arora bought 10,000 shares on June 8.
Advanced Enzyme Technologies: Promoter Groups Advanced Vital Enzymes sold 3,500 shares on June 5, and Atharva Green Ecotech sold 1.91 lakh shares between June 5 and June 7.
Star Cement: Promoter Groups Rahul Chamaria and Sachin Chamaria sold 1.12 lakh shares each, and Laxmi Chamaria sold 2.09 lakh shares between June 5 and June 7.
Rajnish Wellness: Promoter Rajnishkumar Singh bought 8.33 lakh shares on June 8.
Gravita India: Promoter and Director Rajat Agrawal sold 13 lakh shares on June 6.