Stocks To Watch: HCL Tech, SJVN, PTC, RIL, DCW, IndiaMART, Dilip Buildcon, Persistent Systems

Asia markets are poised for muted gains after U.S. equities inched higher as the Federal Reserve paused interest rate hikes but warned further increases this year remain on the table.

Futures for equity benchmarks in Japan, Australia and Hong Kong advanced. U.S. contracts were moderately higher in early Asian trading following the 0.1% rise for the S&P 500 on Wednesday, which closed at the highest level since April last year. The Nasdaq 100 rose 0.7%, bringing its gain since the start of the year to 37%.

The dollar fell to trade near a one-month low, as the Australian dollar was among the largest gainers in major currencies against the greenback on Wednesday.

In Asia, investors will be focused on potential policy easing in China and retail and industrial data for May that is expected to show further slowing in the country’s sputtering recovery.

Meanwhile, Brent crude fell to $73 a barrel and West Texas Intermediate was trading around $68. The yield on the 10-year U.S. bond was trading at 3.79%, whereas Bitcoin was below 26,000-level.

At 05:26 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 0.06% at 18,823.5.

Indian stock benchmarks held on to gains following a volatile start on Wednesday ahead of the Fed meeting. This was led by gains in metals, while non-banking financial companies and the media sectors remained under pressure. The Indian rupee strengthened 27 paise to close at 82.11 against the U.S. dollar on Wednesday.

Overseas investors in Indian equities were net buyers for the second day in a row on Wednesday. Foreign portfolio investors mopped up stocks worth Rs 1,714.7 crore, the highest amount of net buying by FPIs this month so far. Meanwhile, domestic institutional investors were net sellers and offloaded equities worth Rs 654.8 crore, the NSE data showed.

• HCL Technologies: HCL Tech and Google Cloud have expanded their partnership to support enterprises in leveraging generative artificial intelligence (AI) and developing joint solutions powered by Google Cloud’s generative AI technologies.

• SJVN: The company signed a memorandum of understanding with Maharashtra State Power Generation Company to develop 5,000 MW of renewable energy projects in the state. The partnership will explore the feasibility of establishing various renewable projects, including hydroelectric, pumped storage, wind, solar, hybrid, and green hydrogen projects.

• PTC India Financial Services: PTC India named Mahendra Lodha as director (finance) and the chief financial officer of the company with effect from June 14, replacing current Chief Financial Officer Sanjay Rustagi.

• IndiaMART InterMESH: The company approved the re-appointment of Dhruv Prakash as director liable to retire by rotation.

• Reliance Communications: A delegate of the Australian Securities and Investments Commission was notified regarding the deregistration of Reliance Communications (Australia) PTY Ltd. with effect from June 4.

• Dilip Buildcon: The company received a completion certificate for the rehabilitation and upgrade work of the Chandikhole-Bhadrak section of NH-5 in Odisha on hybrid annuity mode. The project cost was Rs 1,522 crore. DBL Chandikhole Bhadrak Highways Ltd. is now a subsidiary of the company.

• DCW: The company will produce lower soda ash by an estimate of 6 KMT in the first quarter of fiscal 2023-2024 due to an unforeseen mechanical breakdown of the carbon dioxide gas compressor in its soda ash plant.

• Reliance Industries, Panorama Studios: Panorama Studios entered into an agreement with Reliance Industries through its media and entertainment division, Jio Studios, for producing a movie.

• Persistent Systems: The company further strengthened its strategic relationship with Zscaler and achieved the Zenith partnership tier to assist in strengthening and modernising security.

• Precision Camshafts: To meet investors and analysts on June 16.

• Century Enka: To meet investors and analysts on June 16.

• Aether Industries: To meet investors and analysts on June 16.

• Kalyan Jewellers India: To meet investors and analysts on June 15.

• Nuvoco Vistas Corporation: To meet investors and analysts on June 16.

• Punjab National Bank: To meet investors and analysts on June 15.

• PNB Housing Finance: To meet investors and analysts on June 15.

• ISGEC Heavy Engineering: To meet investors and analysts on June 16.

• Ultratech Cement: To meet investors and analysts on June 15 and June 16.

• BLS International Services: To meet investors and analysts on June 16.

• Five-Star Business Finance: To meet investors and analysts on June 15.

• Kolte-Patil Developers: To meet investors and analysts on June 15.

Rallis India

• Ex-Date Dividend: Tata Consultancy Services, DCB Bank

• Ex-Date Face Value Split: Varun Beverages

• Ex-Date Demerger: Vakrangee

• Record-Date Dividend: Tata Consultancy Services, DCB Bank

• Record-Date Demerger: Vakrangee

• Move into the Short-Term ASM Framework: Rattan India Power, Ram Ratna Wires, and Inox Wind Energy

• Move Out Of Short-Term ASM Framework: Arman Financial Services, Indo Count Industries, Sree Rayalaseema Hi-Strength Hypo, Kokuyo Camlin

• Central Depository Services: ICICI Prudential Technology Fund bought 5.28 lakh shares (0.5%) at Rs 985 apiece, and BSE sold 47.44 lakh shares (4.53%) at Rs 985.98 apiece.

• V-Mart Retail: Amansa Holdings bought 3.37 lakh shares (1.7%) at Rs 1,990 apiece, and T. Rowe Price International Discovery Fund sold 3.77 lakh shares (1.9%) at Rs 1,990.43 apiece.

• Welspun India: Societe Generale bought 50 lakh shares (0.5%) at Rs 93.5 apiece, and Infinity Holdings sold 94.88 lakh shares (0.96%) at Rs 93.61 apiece.

• D-Link India: Ashish Kacholia sold 3.7 lakh shares (1.04%) at Rs 227.91 apiece.

• Aavas Financiers: Smallcap World Fund sold 12.84 lakh shares (1.63%) at Rs 1,349.94 apiece.

• Aurionpro Solutions: Malabar India Fund bought 2.63 lakh shares (1.15%) at Rs 880.23 apiece, and Indusvalley Holdings sold 2 lakh shares (0.88%) at Rs 881.38.

• Sangam (India): Satpal Khattar sold 9 lakh shares (1.79%) at Rs 268.04 apiece, and Madhuri Madhusudan Kela bought 8.40 lakh shares (1.67%) at Rs 268 apiece.

• Pidlite Industries: Promoter Neerav Parekh sold 15,606 shares between June 12 and June 13.

• Thirumalai Chemicals: Promoter Group Gayathri Pravin bought 14,872 shares on June 12.

• Usha Martin: Promoter Peterhouse Investments sold 12,500 shares on June 12.

• Arman Financial Services: Promoter Amit R. Manakiwala sold 500 shares on June 12.

• Gati: Promoter Group TCI Finance sold 50,000 shares between June 8 and 9.

• Indoco Remedies: Promoter Aditi M. Panandikar bought 19,629 shares on June 13.

• Advanced Enzyme Technologies: Promoter Group Atharva Green Ecotech sold 2.1 lakh shares between June 12 and June 13.

• Rajnish Wellness: Promoter Rajnishkumar Singh bought 4.6 lakh shares on June 14.

• GHCL Textiles: Promoter and Director Neelabh Dalmia bought 3,000 shares on June 12.

• Nifty June futures ended at 18,809.50, a premium of 32.65 points.   

• Nifty June futures rose 5.65%, with 10,208 shares in open interest.   

• Nifty Bank June futures ended at 44,132, a discount of 84.65 points.   

• Nifty Bank June futures fell 2.04%, with 2,023 shares in open interest.   

• Securities added to the ban period: Indiabulls Housing Finance, Indian Energy Exchange, India Cements, Delta Corp, Manappuram Finance, Bharat Heavy Electricals, Zee Entertainment Enterprises.

• Sun Pharma — Positive On Specialty Portfolio Ramp-Up In The U.S., Continued Growth In India: Motilal Oswal

• Apar Industries - Premiumisation, Exports To Propel Strong Growth: Prabhudas Lilladher

• Metro Brands - Following A Disciplined Approach To Growth: Motilal Oswal

• Telecom Market Share Tracker - Airtel’s AGR Market Share Stable; Reliance Jio’s Improves: ICICI Securities

• PCBL - Bullishness Reloaded, Well Poised For Profitable Growth: ICICI DirectMargins and return on capital employed to expand, driving re-rating.www.bqprime.comApar Industries - Premiumisation, Exports To Propel Strong Growth: Prabhudas Lilladher