Tata Steel, Vedanta, ONGC: Stocks to track on Monday
Stocks to watch on Monday, June 24: At around 8:08 am, GIFT Nifty futures traded lower by 0.43 per cent or 101.3 points at 23,386, indicating a positive opening on the D-Street. The Indian stock markets closed lower in a volatile session on Friday on profit booking and underperformance in the fast-moving consumer goods (FMCG) sector. Sensex closed 269 points lower at 77,209 (0.35 per cent) while Nifty was doing 65 points at 23,501. Here are some stocks that will be in focus on Monday, June 24:
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank: The company in its investor presentation gave FY25 guidance as follows:
>>Gross loan book growth 20 per cent
>> Deposit growth in line with gross loan book growth
>> Credit cost 1.7 per cent, Net Interest Margin nine per cent, Return on equity (RoE) 20 per cent.
Tata Steel
Tata Steel:
Tata Steel employees in the UK will strike for the first time in 40 years. Around 1,500 employees will go on strike from July 8.
Vedanta
Vedanta:
Promoter Vedanta Resources may sell a 2.5 per cent stake through a block deal in the coming weeks. Can sell nine crore shares for Rs 4000 crore.
MCX
MCX:
Names of candidates shortlisted for the post of MD & CEO in the board meeting. Regulatory approval will be taken for appointment to the post.
ONGC/IOC
ONGC/IOC:
Both companies signed a Memorandum of Understanding (MoU) to set up small-scale LNG plants. The MoU signed to set up the HATTA gasfield near the Vindhya Basin.
CarTrade Tech
CarTrade Tech:
The company's stock may see a block deal worth around Rs 400 crore today. Highdell Investment and MacRitchie Investments are seen to offload 7 per cent and 3.4 per cent stake respectively in the entity at a floor price of Rs 820 per share. The pegged price is at a discount of over 4 per cent to the last traded price.
Indraprastha Gas
Indraprastha Gas:
Shares of the company will be in focus after it raised the price of CNG by Rs 1 per kg. The new rates came into effect from June 22.
Garden Reach Shipbuilders
Garden Reach Shipbuilders:
On Saturday, the company inked an agreement with Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG to construct and deliver four multi-purpose vessels at a cost of approximately $45 million or Rs 451.23 crore. The contract has to be completed within a period of 33 months.
Prestige Estates
Prestige Estates:
The company's board has approved raising Rs 5000 crore via the QIP route. Also, it has formed a sub-committee for the monetisation of its subsidiary Prestige Hospitality Ventures.
Fertiliser stocks
Fertiliser stocks:
Fertiliser stocks including National Fertilizers Limited (NFL), Rallis India and Chambal Fertilisers among others will be in focus as the proposal for reducing GST on fertilisers has been sent to the Group of Ministers (GoM) for rate rationalisation.