Share Market News June 13: Nestle India, ICICI Prudential, Tata Technologies, other stocks to track on Thursday
Stocks to Track on June 13, Stocks in News: Here is a list of stocks that are set to be in the spotlight during the June 13 session.
Stocks to Track on June 13, Stocks in News: At around 8:13 am, GIFT Nifty futures traded higher by 0.44 per cent or 102.4 points at 23,457.5, indicating a positive opening on the D-Street. Domestic equity benchmarks registered mild gains on Wednesday amid broad-based buying on Dalal Street led by financial and energy shares. While the Nifty50 added 58.1 points, or 0.3 per cent, to end at a record 23,323, the Sensex finished with a gain of 150 points, or 0.2 per cent, at 76,606.6.
Now, here's a list of stocks set to be in focus in the next session, on Thursday, including Nestle India, Tata Technologies, Raymond and ICICI Prudential.
ICICI Prudential stock to trade ex-dividend on Thursday
ICICI Prudential shares are scheduled to trade ex-dividend on June 13.
Tata Technologies stock to trade ex-dividend
Tata Technologies shares are slated to trade ex-dividend on Thursday.
Others stocks to trade ex-dividend
CIE Automotive India, Raymond, Mkventures Capital and KSB shares are among the other stocks scheduled to trade ex-dividend on June 13.
Nestle India board gives nod to royalty payment to parent at current rate
Nestle India's board has approved the payment of licence fees (royalty) to its parent at the current rate of 4.5 per cent.
L&T Finance
Bain Capital will offload 8.82 crore shares in the entity in a deal expected to be worth Rs 1,530 crore. The floor price for the deal is pegged at around Rs169.17/share, translating into a discount of 1 per cent from the previous close of Rs 170.6.
Tata Communications
In its Institutional Investors & Analysts Day, the company highlighted that it aims to increase the EBITDA margin by FY27 to 23-25 per cent. In FY24, the telecom entity posted a margin of 20.2 per cent. Also, it targets to increase return on capital employed or ROCE above 25 per cent from 18.8 per cent reported in the previous fiscal year.
Sobha Ltd
The company's board has approved the issuance of equity shares of the company for an amount of up to Rs 2,000 crore by way of the rights issue. The company has set the rights issue price at Rs 1,651 per rights equity share including a premium of Rs 1,641. The issue will open on June 28 and will close on July 4, 2024.
Dr. Reddy's Laboratories
The pharma major has inked a licensing agreement with US-based Ingenus Pharmaceuticals to commercialise Cyclophosphamide injection, used in the cancer treatment. As part of the agreement, Dr. Reddy’s will commercialise the injection in the US market and pay 50 per cent of the calculated profit share to Ingenus.
Torrent Pharma
The USFDA carried out the pre-approval and GMP inspection at its Indrad facility in Gujarat from June 3 to June 12, 2024. The company has issued Form 483 with five observations.