Marico, Adani Wilmar, JSW Steel, BSE, Solara Active Pharma, Tata Power among top stocks to track

Stocks in focus: The GIFT Nifty indicates a negative start to trading on Dalal Street on Thursday. At 8:20 AM,  the early indicator of the domestic stock market's performance traded 38.5 points, or 0.20 per cent lower at 19,473.5 levels.

Here's a list of stocks that may remain in focus today.

Marico: In its update for the June quarter, Marico said that though the urban markets were steady during the April-June period, the anticipated pickup in rural demand remained elusive. The company -- which owns Saffola, Parachute, Hair & Care, among other brands -- also said that consumer demand from rural India will recover for the rest of the year as inflation is moderating.

Adani Wilmar: Adani Wilmar on Wednesday reported a 25 per cent year-on-year volume growth during the quarter ending June 30, mainly on account of robust consumer demand in edible oils and foods. The sale of branded products in edible oils and foods has been much stronger compared to overall sales of respective segments, the company said in a regulatory filing.

JSW Steel: JSW Steel Ltd. will replace HDFC on the S&P BSE Sensex from July 13, the exchange announced on Wednesday. HDFC will be delisted on July 13 as the merger between HDFC Bank and HDFC has been completed. 

Tata Power: Tata Power on Wednesday announced bagging a smart metering project worth Rs 1,744 crore in Chhattisgarh. The order has been awarded by Chhattisgarh State Power Distribution Company Limited (CSPDCL), Tata Power said in a statement. "Tata Power receives an order worth Rs 1,744 crore to implement a smart metering project in Chhattisgarh. The LOA has been issued in conclusion to the tender floated by CSPDCL for three packages for different areas under the Chhattisgarh discom," it said.

Solara Active Pharma Sciences said on Wednesday that its board has approved raising up to Rs 450 crore through a rights issue. The board has approved the offer and issuance of equity shares of the face value of Rs 10 each of the company for an aggregate amount, including premium, not exceeding Rs 450 crore by way of a rights issue to the eligible equity shareholders of the company. 

BSE: The company's board is slated to hold a meeting today to consider fund-raising.

Ujjivan Small Finance Bank: Ujjivan Small Finance Bank Limited, at its AGM to be held on July 28, 2023, proposed a final dividend of 5% per equity share as recommended by the Board of Directors of the Bank at their meeting held on May 11, 2023, which is hereby approved and declared for the year ended March 31, 2023.

BROKERAGE RADAR

Maruti Suzuki India

Morgan Stanley has maintained an overweight rating on the stock with a target price of Rs 11,164. The brokerage notes that with Invicto's launch, MSIL targets the premium Rs 2 million+ category. The product mix and market share improvement keep us Overweight, the brokerage said. However, Nomura is neutral on the stock and has set a target of Rs 9,659. Invicto’s main competitors will be the Innova Hycross and Innova Crysta, Nomura said.