Stock Market Watch: High-Potential Stocks Poised for a Surge on June 11, 2024

Indian Stock Market: Leading Picks to Consider for Investment on June 11, 2024

Interglobe Aviation Ltd

Rs.4,553.80/-

IndiGo Averts Major Incident at Mumbai Airport

• IndiGo narrowly escaped a significant mishap at Mumbai airport.
• The DGCA has launched an investigation and temporarily removed the air traffic control officer involved from duty.
• Over the past year, IndiGo has achieved a remarkable return of 78.71%.

Persistent Systems Ltd

Rs.3,751.30/-

Persistent Systems: A Promising Growth Stock

• Persistent Systems Ltd is forecasted to grow earnings by 17.9% annually, surpassing the market average of 15.9%.
• It offers a consistent dividend yield of 0.68%.
• The company expects a robust return on equity of 26.1% within three years.
• Over the past five years, Persistent Systems has delivered an impressive return of 1164.12%.

Godawari Power and Ispat Limited

Rs.1,046.25/-

Godawari Power & Ispat Announces Share Buyback

• Godawari Power & Ispat Ltd plans to discuss a share buyback proposal at a board meeting on June 15.
• Following the announcement, the stock surged nearly 12%, reaching an all-time high of Rs. 1,088.65.
• Share buybacks can boost stock value by decreasing the number of shares available in the market.
• Over the past year, GPIL has delivered an impressive return of 161.32%.

Suzlon Energy Ltd

Rs.47.40/-

Suzlon Energy Sees Independent Director Resign Amid Governance Concerns

• Suzlon Energy’s independent director, Marc Desaedeleer, stepped down due to issues with communication and transparency in the company’s governance.
• Despite this, brokerage firms remain optimistic, with JM Financial maintaining a buy rating and a target price of Rs 54.
• Over the past year, Suzlon Energy has achieved a remarkable return of 273.78%.

Samvardhana Motherson International Ltd

Rs.164.29/-

Moody’s Upgrades Samvardhana Motherson International’s Credit Rating

• Moody’s has upgraded the credit rating of Samvardhana Motherson International (SAMIL) and its subsidiary SMRP B.V. from Ba1 to Baa3.
• This upgrade highlights SAMIL’s improving credit profile, driven by strengthened financial metrics, enhanced scale, diversification, and profitability after integrating several acquisitions.
• Over the past year, Motherson has delivered an impressive return of 93.58%.

Heritage Foods Ltd

Rs.696.00/-

Heritage Foods Shares Soar Amid Political and Meteorological Optimism 

• Heritage Foods shares have doubled over the past 12 trading sessions, reaching an all-time high.
• The rally is linked to Chandrababu Naidu’s anticipated return as Chief Minister of Andhra Pradesh and a favorable monsoon forecast.
• Over the past year, Heritage Foods has delivered impressive returns of 217.53%.

Mphasis Ltd

Rs.2,401.00/-

Blackstone Sells Major Stake in Mphasis

• Blackstone sold a 15.6% stake in Mphasis for over Rs. 7,000 crore via a block deal.
• Following the sale, Mphasis shares dropped by 4.8% to Rs. 2,353.55.
• The transaction may initiate a 180-day lock-in period before Blackstone-backed BCP Tapco can conduct another block deal.
• Over the past year, Mphasis has achieved returns of 32.63%.

Coromandel International Ltd

Rs.1,474.85/-

Coromandel International Launches Cutting-Edge Nano Fertilizer Plant

• Coromandel International Ltd has inaugurated a state-of-the-art Nano Fertilizer plant in Andhra Pradesh.
• The fully automated facility boasts an annual production capacity of one crore bottles.
• It can manufacture a diverse range of Nano fertilizers.
• Over the past year, Coromandel International has achieved returns of 45.11%.

Reliance Infrastructure Ltd

Rs.186.92/-

Reliance Infrastructure to Raise $350 Million for New Ventures

• Reliance Infrastructure plans to raise $350 million through foreign currency convertible bonds (FCCB).
• The funds will be used to repay rupee debt and invest in new businesses, including electric power generation.
• Ace investor Vijay Kedia acquired a 1.01% stake in the company, totaling 40 lakh equity shares through Kedia Securities Private Limited.
• Over the past three years, Reliance Infrastructure has delivered returns of 118.21%.

Dalmia Bharat Ltd

Rs.1,893.20/-

Dalmia Bharat Acquires Stake in Solarcraft Power India

• Dalmia Bharat has acquired a 26% equity share capital and compulsory convertible debentures in Solarcraft Power India 23 Private Limited.
• This acquisition will allow Dalmia Bharat to source solar power as a captive consumer, supporting a capacity of up to 46.88 MW in Karnataka.
• Over the past five years, Dalmia Bharat has achieved returns of 55.63%.

KEC International Ltd

Rs.816.80/-

KEC International Secures Rs 1,061 Crore in New Orders

• KEC International has secured new orders totaling Rs 1,061 crore across various business segments.
• These orders include transmission lines and substations in India, a transmission line project in Malaysia, and the supply of towers, hardware, and poles in the Americas.
• Year-to-date, KEC’s order intake has reached Rs 3,000 crore.
• Over the past year, KEC International has achieved returns of 45.38%.

Infosys Ltd

Rs.1,504.25/-

Infosys Partners with Yellow.ai to Boost Automation Solutions

• Infosys has partnered with Yellow.ai to develop HR and customer service automation solutions.
• This collaboration is expected to enhance Infosys’ AI capabilities, paving the way for potential future revenue growth.
• Emkay Global Financial Services suggests that the beginning of an interest rate-cut cycle could stimulate demand recovery and increased discretionary spending for Indian IT firms.
• Over the past year, Infosys has delivered returns of 19.55%.

Motilal Oswal Financial Services Ltd

Rs.656.67/-

Motilal Oswal Shares Surge After Bonus Issue Announcement

• Motilal Oswal Financial Services shares soared by 18.6% on BSE, hitting an all-time high of Rs 719.95 per share.
• The stock started trading ex-bonus, meaning the bonus shares issued to shareholders are now available for trading.
• For the March quarter, Motilal Oswal reported a 334% increase in net profit, reaching Rs 724.6 crore compared to Rs 167 crore in the previous year.
• Over the past year, Motilal Oswal has delivered an impressive return of 259.17%.

CEAT Ltd

Rs.2,527/-

CEAT Targets Market Leadership in PV Segment

• CEAT plans to solidify its position in the higher-margin 2W tyre segment and aim for market leadership in the PV segment within 2-3 years.
• The company will allocate Rs 1,000 crore in capital expenditure over FY25 for growth and expansion into export markets.
• Over the past five years, CEAT has delivered returns of 155.44%.

Syngene International Ltd

Rs.705.50/-

Syngene Expands Capacity with Biologics Facility Acquisition

• Syngene International has acquired Unit 3 from Stelis Biopharma, significantly increasing its production capacity by 250%.
• The facility, initially designed for vaccine production, will now be repurposed for manufacturing monoclonal antibodies.
• This acquisition is anticipated to drive future revenue growth for Syngene International.
• Over the past five years, Syngene has achieved a return of 111.18%.

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