Stock Market Alert: Top Stocks Set to Soar on July 10, 2024

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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

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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.

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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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