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Stocks To Watch Today: Biocon, Adani Enterprises, Indian Oil, Infosys, LIC, Minda Industries

Here are the stocks to watch in today's trade..

<div class="paragraphs"><p>[Image: Yiorgos Ntrahas/Unsplash]</p></div>
[Image: Yiorgos Ntrahas/Unsplash]

Stocks in Asia fell amid decline in US futures after Fed Chair Jerome Powell and his counterparts in Europe and the UK warned inflation is going to last longer.

Equities fell in Japan, Australia and South Korea after the S&P 500 and the Nasdaq 100 ended a volatile trading session nearly flat. At 6:30 am IST, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--was little changed at 15,765.

Oil traded below $110 a barrel, while bitcoin hovered around $20,000.

Here are the stocks to watch in today's trade:

  • Indian Oil: The state-run refiner has approved expansion of its Digboi Refinery in Assam to 1 mtpa from 0.65 mtpa at an estimated cost of Rs 740.2 crore. The project is expected to be commissioned by October 2025.

  • Adani Enterprises: The company acquired mining company Alluvial Natural Resources for Rs 2.14 lakh.

  • Biocon Ltd: The company has agreed to acquire 26% stake in AMPYR Renewable Energy Resources Eleven, a special purpose vehicle formed for the generation and supply of solar power.

  • LIC: India's largest insurer has sought time until July 15 to determine its embedded value as on March 31, 2022.

  • Infosys: The IT services firm has agreed to invest $10 million in a US-based venture capital fund The House Fund III to acquire a minority stake not exceeding 20%.

  • GR Infraprojects: The infrastructure firm has completed construction of Purvanchal Expressway (Package-VII) from Mojrapur to Bijaura in Uttar Pradesh on EPC basis.

  • Minda Industries: The company has acquired 5.24% stake in FRIWO AG, Germany for €14.99 million.

  • Mazagon Dock Shipbuilders: The company has laid the keel for the fourth ship P17A class stealth frigates. In this series, seven frigates in will be constructed, of which four will be made in Mazagon and the rest by Garden Reach Shipbuilders & Engineers.

  • Sterlite Technologies: The company will acquire 25% stake in Jiangsu Sterlite Tongguang Fiber Co. for Rs 65 crore (RMB 55.67 million). After the acquisition, JSTFCL will become a wholly owned subsidiary of the company.

  • CSB Bank: Deputy MD Pralay Mondal will stay on as interim CEO and MD for three more months starting July 1, as RBI has approved the term extension.

  • Karnataka Bank: The lender raised interest rates on its Domestic and NRE Rupee term deposits for amount below Rs 2 crore by 10 basis points to 5.35% for 1-2 years and 5.5% p.a. for more than two years.

  • MCX: The Securities and Exchange Board of India has allowed foreign portfolio investors to trade in exchange-traded commodity derivatives.

Analyst Actions

Jefferies On Crompton Greaves

  • Buy, TP at Rs 490

  • Stock has corrected ~25% YTD, despite robust margin resilience

  • Potential to strengthen appliances franchise with Butterfly acquisition

  • Near-term EPS could be impacted due to higher debt and lower margins (FY24-25e cut by 7-9%)

  • Medium-term catalysts seem strong

Motilal Oswal On UltraTech Cement

  • Buy, TP Rs 6,450 per share (from Rs 7,825 earlier)

  • TP based on 15x FY24E EV/EBITDA

  • Correction in the stock seems to factor in concerns.

  • Current profit estimates factor in lower pricing power, profitability

  • Energy cost decline will be the key trigger for cement stocks

Pledged Shares Details

  • Sterling and Wilson Renewable Energy: Promoter Khurshed Daruvala created a pledge of 7.7 lakh shares on June 28.

Insider Trades

  • Kovai Medical Center & Hospital: Promoter & Director Thavamani Devi Palaniswami bought 5,919 shares between June 27 and June 28.

  • Manappuram Finance: Promoter & Director Nandakumar VP bought 56,000 shares on June 28.

  • Jindal Stainless: Promoter Group JSL bought 4.23 lakh shares between June 27 and June 28.

  • Page Industries: Promoter & Director Sunder Genomal sold 5,526 shares between June 28 and June 29. Promoter & Director Ramesh Genomal sold 5,631 shares between June 28 and June 29. Promoter & Director Nari Genomal sold 5,515 shares between June 28 and June 29.

  • Renaissance Global: Promoter Niranjan Shah sold 9,520 shares on June 28.

  • Mrs Bectors Food Specialties: Promoter Group Anoop Bector (AB Family Trust) bought 6000 shares on June 29.

Bulk Deals

  • Hikal: Smallcap World Fund Inc sold 25 lakh (2.02%) shares at Rs 249.02 apiece.

  • MTAR Technologies: Dwaram Anitha Reddy sold 2 lakh (0.65%) shares at Rs 1250 apiece. Usha Reddy Chigarapalli sold 2 lakh (0.65%) shares at Rs 1250 apiece. Kavitha Reddy Gangapatnam sold 2 lakh (0.65%) shares at Rs 1251.81 apiece. Segantii India Mauritius bought 3 lakh (0.97%) shares at Rs 1249.74 apiece. HDFC Mutual Fund AC HDFC Multi-Cap Fund bought 2 lakh (0.65%) shares at Rs 1250 apiece.

Block Deals

  • Hemisphere Properties India: Panatone Finvest bought 53.03 lakh (1.86%) shares at Rs 105.45 apiece. Tata Sons sold 53.03 lakh (1.86%) shares at Rs 105.45 apiece.

Who’s Meeting Whom

  • Shriram Transport Finance: To meet UTI AMC on June 30.

Annual General Meetings Today

  • HDFC

  • Dr Lal Path Labs

  • Indian Hotels Company

  • Happiest Minds Technologies

  • Laurus Labs

  • KEC International

  • Computer Age Management Services

  • CERA Sanitryware

  • Dodla Dairy

  • GHCL

Trading Tweaks

  • Record Date Dividend: Sona BLW Precision Forgings

  • Ex-Date Dividend: Escorts Kubota, Bajaj Finance, Maharashtra Scooters, Bajaj Finserv, Nucleus Software Exports, Raymond, Bajaj Auto, Swaraj Engines, Bajaj Holdings & Investment, Biocon, Larsen & Toubro Infotech

  • Ex-Date Annual General Meeting: Escorts Kubota, IIFL Finance, Nucleus Software Exports, Raymond

  • Ex-Date Bonus: Ratnamani Metals & Tubes, Indian Oil Corporation

  • Ex-Date Final Dividend: Nippon Life India Asset Management, Welspun Enterprises

  • Ex-Date Stock Split: Paisalo Digital

  • Move Into Short-Term ASM Framework: Dhanvarsha Finvest

  • Move Out Of Short-Term ASM Framework: Apar Industries