Stock Market Watch: High-Potential Stocks Poised for a Surge on July 9, 2024

Indian Stock Market: Leading Picks to Consider for Investment on July 9, 2024

Dixon Technologies (India) Ltd

Rs.12,547.90/-

Dixon Technologies Divests Stake in AIL Dixon Tech

• Dixon Technologies is set to sell its entire 50% stake in AIL Dixon Tech to Aditya Infotech.
• As part of the deal, Dixon Technologies will acquire a 6.5% stake in Aditya Infotech.
• This acquisition aims to bolster Dixon’s position in the consumer electricals market.
• Over the past year, Dixon Technologies has achieved an impressive 195.06% return.

Nestle India Limited

Rs.2,601.75/-

Nestle India Declares Interim Dividend and Royalty Continuation

• Nestle India announces an interim dividend of Rs 2.75 per share for FY25.
• Shareholders have approved the continuation of the 4.5% royalty payment to its Swiss parent company.
• The record date for eligibility for the interim dividend is set as July 16, 2024.
• Over the past five years, Nestle India has delivered a 118.12% return.

Mahanagar Gas Ltd

Rs.1,673.80/-

Mahanagar Gas Increases CNG and PNG Prices

• Mahanagar Gas Ltd has announced a price hike for CNG and domestic PNG in Mumbai to counter rising input costs.
• The price of delivered CNG will rise by Rs 1.5 per kg, and domestic PNG will increase by Re 1/SCM.
• While this move is expected to boost the company’s revenue, it may also lead to customer dissatisfaction.
• Over the past year, Mahanagar Gas has delivered a 54.49% return.

Bajaj Finserv Ltd

Rs.1,576.25/-

Bajaj Allianz Reports Strong Provisional Figures for June

• Bajaj Allianz General Insurance reported a gross direct premium underwritten at Rs 1,234 crore for June.
• Bajaj Allianz Life Insurance’s total new business premium for June stood at Rs 1,082 crore.
• This quarterly business update from Bajaj Finserv’s life and general insurance arms may influence investor sentiment.
• Over the past five years, Bajaj Finserv has delivered a 108.03% return.

Torrent Power Ltd

Rs.1,517.00/-

Torrent Power to Establish Solar Project for ARS Steels

• Torrent Power’s subsidiary will develop a solar power project for ARS Steels in Tamil Nadu.
• ARS Steels will acquire an equity stake in Torrent Urja 14 (TU14), a division of Torrent Power.
• This initiative is expected to bolster Torrent Power’s presence in the renewable energy sector and potentially drive future revenue growth.
• Over the past year, Torrent Power has delivered a 143.84% return.

Godrej Consumer Products Limited

Rs.1,392.55/-

Godrej Consumer Achieves Double-Digit Volume Growth

• Godrej Consumer Products has reported double-digit volume growth in Q1FY24 despite challenging operating conditions.
• The company anticipates high single-digit growth in value terms across its home care and personal care segments for the quarter ended June.
• Over the past year, Godrej Consumer Products has achieved a 30.24% return.

Pitti Engineering Ltd

Rs.1,185.00/-

Pitti Engineering Initiates QIP for Business Expansion

• Pitti Engineering Ltd has launched a Qualified Institutional Placement (QIP) to raise Rs 360 crore.
• The issue price is set at Rs 1,054.25 per share.
• The funds from the QIP are intended for business expansion and growth opportunities.
• Over the past five years, Pitti Engineering has delivered an extraordinary return of 2381.06%.

Senco Gold Ltd

Rs.1,029.95/-

Senco Gold Reports Robust Q1FY25 Performance

• Senco Gold Ltd has reported a strong Q1FY25 with an 11% growth in retail sales and a 4% increase in same-store sales.
• The average transaction value and average selling price rose by 12%.
• Total sales growth for the quarter, including exports, e-commerce, corporate, digital products, and other segments, stood at 9% YoY.
• Over the past year, Senco Gold has delivered a 167.17% return.

Container Corporation of India Ltd

Rs.1,030.20/-

Container Corp Sees 6% YoY Increase in Q1 Throughput

• Container Corporation of India reports a 6% year-over-year increase in total throughput for Q1 FY25.
• Export-import throughput rose by 3.3% YoY to 2.89 lakh TEUs, while domestic throughput surged by 15.3% to 8.69 lakh TEUs.
• Over the past year, Container Corp has delivered a 57.51% return.

Godrej Industries Limited

Rs.908.85/-

Godrej Industries Expands with New Acquisition

• Godrej Industries Chemicals Business is set to acquire the Ethoxylation Unit II from Shree Vallabh Chemicals.
• The Adi-Nadir Godrej family has acquired a 12.65% stake in Godrej Industries Ltd, valued at Rs 3,803 crore.
• Multiple transactions are anticipated among Godrej group companies following the family settlement.
• Over the past year, Godrej Industries has achieved an 82.83% return.

Jupiter Wagons Ltd

Rs.702.45/-

Jupiter Wagons Sets Floor Price for QIP to Fund Expansion

• Jupiter Wagons Ltd has set the floor price for its Qualified Institutional Placement (QIP) at Rs 689.47 per equity share.
• The company may offer up to a 5% discount on the floor price.
• This fundraising initiative aims to support Jupiter Wagons’ future growth opportunities.
• Over the past five years, Jupiter Wagons has delivered an astonishing 4271.26% return.

Railtel Corporation of India Ltd

Rs.506.85/-

RailTel Board Recommends Final Dividend

• The board of RailTel Corporation of India Ltd has recommended a final dividend of Rs 1.85 per equity share for FY 2023-24.
• The stock closed 2.83% higher at Rs 534.90 on Monday, with a market capitalization of Rs 17,167 crore.
• RailTel’s strong financial performance and consistent dividend payouts may attract more investors.
• Over the past year, RailTel has delivered an impressive 295.55% return.

Jio Financial Services Ltd

Rs.350.90/-

JFS Group COO Resigns for New Role as MD and CEO of Jio Leasing

• JFS Group COO Charanjit Attra has resigned from the company.
• Attra will take on the role of Managing Director and CEO of Jio Leasing Services, a subsidiary of JFS.
• Jio Financial Services Ltd has delivered a 41.72% return over the past year.

Bandhan Bank Ltd

Rs.204.29/-

Bandhan Bank Launches Trade Products to Boost Global Business

• Bandhan Bank has introduced trade products aimed at facilitating global business transactions.
• This initiative is expected to expand the bank’s offerings and attract more customers, potentially driving future revenue growth.
• The new trade products are designed to streamline and secure various aspects of global transactions, ensuring smooth operations and increased financial flexibility for businesses.
• Over the past year, Bandhan Bank has posted a -10.62% return.

 

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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of News Lounge 24×7. We advise investors to check with certified experts before taking any investment decisions.