Indian Stock Market: Prime Investment Opportunities for July 10, 2024
Maruti Suzuki India Ltd
Rs.13,272.00/-
Maruti Suzuki Shares Surge as UP Waives Hybrid Car Levies
- Maruti Suzuki’s stock price jumped 6.6% on the BSE following Uttar Pradesh’s decision to waive registration levies on strong hybrid and plug-in vehicles.
- This policy change is expected to benefit major players like Maruti, Toyota, and Honda, given their substantial market share in the state.
- If other states adopt similar measures, Maruti’s sales volumes could see additional growth.
- Over the past year, Maruti Suzuki has delivered a 23.49% return.
Reliance Industries Ltd
Rs.3,153.90/-
Reliance Industries Acquires 26% Stake in Mahan Energen
- Reliance Industries has acquired a 26% stake in Mahan Energen to ensure a reliable power supply.
- Mahan Energen, a unit of Adani Ports, has entered into a 20-year power purchase agreement with Reliance Industries for a 500 MW energy supply.
- Reliance also introduced Jio Tag Air, an upgraded version of last year’s asset tracker designed to locate and track valuables.
- Over the past year, Reliance Industries has delivered a 28.95% return.
Mankind Pharma Ltd
Rs.2,151.00/-
Hema CIPEF to Sell 0.9% Stake in Mankind Pharma
- Hema CIPEF, a Capital Group affiliate, plans to sell a 0.9% stake in Mankind Pharma through block deals valued at Rs 762.6 crore.
- The issue price is set at Rs 2,061 per share, a 2% discount to the current market price.
- This transaction may cause short-term volatility in Mankind Pharma’s stock price.
- Over the past year, Mankind Pharma has delivered a 19.37% return.
HG Infra Engineering Ltd
Rs.1,700.00/-
HG Infra Engineering Signs MoU for Solar Projects
- HG Infra Engineering has signed a Memorandum of Understanding (MoU) with Ultra Vibrant Solar Energy for solar projects valued at Rs 465 crore, inclusive of taxes.
- This strategic move is expected to drive future revenue growth for HG Infra Engineering in the renewable energy sector.
- Over the past year, HG Infra has delivered a 91.92% return.
Infosys Ltd
Rs.1,654.00/-
Infosys Partners with Sector Alarm for Cloud Transformation
- Infosys has announced a strategic five-year collaboration with Sector Alarm to modernize their core enterprise business systems.
- The project involves migrating Sector Alarm’s on-premises Enterprise Resource Planning platform to Microsoft Dynamics 365 Finance and Operations (F&O).
- This initiative aims to enhance efficiency and scalability through cloud technology.
- Over the past year, Infosys has delivered a 25.02% return.
Adani Ports and Special Economic Zone Ld
Rs.1,473.25/-
Adani Ports Secures 30-Year Concession and Power Agreement
- Adani Ports has won a 30-year concession to develop, operate, and maintain Berth No.13 at Deendayal Port.
- Mahan Energen, a unit of Adani Ports, has entered into a 20-year power purchase agreement with Reliance Industries for a 500 MW energy supply.
- Reliance Industries has acquired a 26% stake in Mahan Energen’s 600 MW facility to support the agreement.
- Over the past year, Adani Ports has delivered a 104.87% return.
Tata Motors Ltd Fully Paid Ord. Shrs
Rs.999.45/-
Tata Motors and Mahindra & Mahindra Slash SUV Prices
- Tata Motors has reduced the starting prices of its Harrier and Safari SUVs, offering benefits of up to Rs 1.4 lakh on various variants.
- Mahindra & Mahindra has also cut prices of its premium SUVs by up to Rs 2.2 lakh.
- These price cuts are expected to enhance sales for both companies in the competitive Indian SUV market.
- Over the past five years, Tata Motors has delivered an impressive 543.52% return.
JSW Steel Limited
Rs.920.90/-
JSW Steel Sees Decline in Crude Steel Production
- JSW Steel reported a 1% year-over-year decline and a 6% sequential decrease in consolidated crude steel production for Q1 FY25.
- The reduction is attributed to planned maintenance shutdowns.
- While this may cause short-term volatility, the impact on the stock’s long-term prospects remains uncertain.
- Over the past year, JSW Steel has delivered a 15.86% return.
Rail Vikas Nigam Ltd
Rs.574.55/-
RVNL Secures Orders Worth Rs 390 Crore
- Rail Vikas Nigam Ltd (RVNL) has secured orders worth Rs 202.87 crore from South Eastern Railway and Rs 187 crore from Maharashtra Metro Rail Corporation.
- RVNL’s expertise in the railway sector is expected to aid its expansion into the MENA region and European countries through a joint venture with Tatweer Middle East and Africa LLC.
- Over the past three years, RVNL has delivered an impressive 1660.19% return.
Wipro Ltd
Rs.534.45/-
Wipro Settles Legal Dispute with Former CFO
- Wipro has settled a lawsuit against its former CFO, Jatin Dalal.
- Cognizant’s board approved a payment of $505,087 to cover the settlement and legal fees related to the dispute.
- The impact on Wipro’s stock is expected to be minimal due to the relatively small settlement amount.
- Over the past year, Wipro has delivered a 38.79% return.
Delhivery
Rs.388.70/-
Major Stake Shift: Canada Pension Plan to Offload Delhivery Shares
- Sale Details: Canada Pension Plan Investment Board intends to divest its 3.18% stake in Delhivery through block deals.
- Financials: The sale aims to raise Rs 886 crore, with shares priced between Rs 378 to Rs 389 each.
- Market Impact: Anticipate potential short-term stock value decline due to the sizable stake sale.
- Performance: Delhivery has shown a -1.07% return over the past year.
- Action: Consider monitoring or adding to your watchlist.
Oil and Natural Gas Corporation Ltd
Rs.293.95/-
ONGC’s Ambitious Green Transformation
- Investing ₹2 lakh crore ($27 billion) in renewable energy, green hydrogen, and other clean energy initiatives over the next 15 years
- Establishing 5 GW of renewable energy capacity, including solar, wind, and offshore wind, by 2030
- Developing 1.8 million tonnes per annum of green hydrogen and green ammonia production by 2035
- Eliminating gas flaring and reducing methane emissions through advanced technologies
- Collaborating with leading renewable energy companies like Greenko to accelerate the transition
Bank of Baroda Ltd
Rs.257.75/-
Bank of Baroda Increases Lending Rates Amidst Revenue Growth Expectations
- Rate Adjustment: Bank of Baroda is set to raise its MCLR across various loan terms, effective this Friday.
- New Rates: The updated MCLR will range from 8.15% to 8.90%, aimed at bolstering net interest income.
- Financial Impact: Anticipate potential revenue growth driven by enhanced interest margins.
- Performance: BANKBARODA has delivered impressive returns of 213.63% over the past three years.
- Consideration: Investors may consider adding to their watchlist or exploring buying opportunities.
Indian Oil Corporation Ltd
Rs.169.80/-
Indian Oil Corp Ensures Fuel Supply Amidst Truckers’ Strike
- Supply Assurance: Indian Oil Corporation guarantees uninterrupted fuel supply amidst ongoing truckers’ strike.
- Contingency Plans: The company has implemented alternative logistics to maintain adequate fuel stocks across Chennai markets.
- Business Impact: This proactive measure aims to safeguard market share and sustain revenue growth.
- Performance: IOC has shown strong returns of 74.61% over the past year.
- Actionable Insight: Consider adding IOC to your watchlist or exploring investment opportunities.
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Source: Google
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