Stock Market Watch: High-Potential Stocks Poised for a Surge on June 18, 2024

Indian Stock Market: Leading Picks to Consider for Investment on June 18, 2024

Nandan Denim Ltd

Rs.51.62/-

Nandan Denim Ltd Announces Stock Split Amidst Profit Surge

• Nandan Denim Ltd’s board has approved a 1:10 stock split, aiming to boost liquidity and make shares more accessible for retail investors.
• The company experienced a significant rise in standalone net profit, reporting Rs 27.11 crore in Q4 FY24, compared to Rs 2.76 crore in Q4 FY23.
• The record date for the stock split is yet to be announced.
• Over the past year, Nandan Denim Ltd has delivered an impressive 126.7% return.

Som Distilleries and Breweries Ltd

Rs.117.79/-

Som Distilleries Faces Child Labor Investigation

• Authorities are investigating Som Distilleries and Breweries Ltd after discovering child labor at one of their distilleries.
• The company has dismissed the vendor responsible for supplying the labor force.
• Investigations are being conducted under juvenile justice and bonded labor laws.
• Despite these issues, SDBL has shown a remarkable 573.99% return over the past three years.

HFCL Ltd

Rs.125.10/-

HFCL Ltd Gains Exemption from EU Anti-Dumping Duties

• The European Commission has exempted HFCL Ltd from anti-dumping duties affecting other Indian optical fiber cable (OFC) producers.
• An investigation found no evidence of HFCL engaging in dumping practices in European markets.
• This exemption is anticipated to positively influence HFCL’s revenue and growth potential.
• HFCL has achieved a 72.19% return over the past year.

Fsn E-Commerce Ventures Ltd

Rs.174.65/-

Nykaa Aims for Global Expansion in Beauty and Fashion

• Nykaa plans to significantly expand its fashion, beauty, and consumer businesses over the next three years.
• The company is focusing on increasing its footprint in international markets.
• Nuvama Institutional Equities predicts Nykaa’s beauty and personal care segment will grow at a mid-to-late 20s annual compounded rate from FY24 to FY28.
• Nykaa has delivered a 13.7% return over the past year.

Wipro Ltd

Rs.492.20/-

Wipro and GBST Form Strategic Partnership

• Wipro Ltd has announced a strategic partnership with GBST to offer comprehensive administration services for superannuation, wealth, and pensions sectors.
• This initiative aims to transition these services from legacy IT systems to more efficient solutions.
• Wipro’s A1360 initiative has seen a 65% increase in AI use cases since its inception in July 2023.
• Over the past year, Wipro has delivered a 25.61% return.

IIFL Finance Ltd

Rs.496.40/-

IIFL Finance Sees Q4 Profit Dip Amid Higher Provisions

• IIFL Finance experienced a decline in Q4 net profit year-over-year due to increased provisions and an RBI ban on gold loans.
• Despite this, loan growth in core products remained strong, with gold loans and home loans AUM rising by 13% and 26% YoY, respectively.
• The company is planning to divest its equity stake in the National Stock Exchange (NSE).
• Over the past five years, IIFL has achieved a 193.15% return.

Jubilant FoodWorks Ltd

Rs.546.95/-

Jubilant FoodWorks Exhibits Bullish Technical Indicators

• Jubilant FoodWorks Ltd has displayed two critical technical analysis signals suggesting a potential shift from bearish to bullish.
• Investors and traders are encouraged to go long within the Rs 522-532 per share range, targeting an upside of Rs 600 per share.
• While the company’s net debt and declining EBIT present some risks, they are not considered significant threats currently.
• Over the past year, Jubilant FoodWorks has achieved a 7.33% return.

Bikaji Foods International Ltd

Rs.731.75/-

Anand Rathi Recommends Buying Bikaji Foods

• Anand Rathi has initiated coverage on Bikaji Foods with a buy recommendation and a target price of Rs 900 per share.
• Bikaji Foods’ revenue and EBITDA have grown at a CAGR of 21% to 42% from FY19 to FY24 and are projected to continue growing.
• The company reported a 200% increase in net profit for Q4FY24 compared to the same period last year.
• Bikaji has delivered a 74.75% return over the past year.

Zydus Lifesciences Ltd

Rs.1,083.20/-

Zydus Lifesciences Receives OAI Classification from USFDA

• The US FDA has classified Zydus Lifesciences’ injectable manufacturing unit at Pharmez SEZ, Matoda as Official Action Indicated (OAI) following an inspection in March.
• This classification necessitates further administrative sanctions and mandatory corrective actions.
• Despite this regulatory setback, Zydus Lifesciences has delivered an impressive 100.23% return over the past year.

Godawari Power and Ispat Limited

Rs.1.116.85/-

Godawari Power & Ispat Approves Share Buyback

• Godawari Power & Ispat Ltd has approved a share buyback plan worth up to Rs 301 crore at Rs 1,400 per equity share.
• This buyback price is 29.85% higher than the closing price on Friday’s BSE trading.
• The buyback aims to enhance shareholder value and improve earnings per share.
• Over the past year, GPIL has delivered a 121.17% return.

Macrotech Developers Ltd

Rs.1,586.50/-

Macrotech Developers Resolves Stamp Duty Litigation

• Macrotech Developers has received the final order regarding the stamp duty for its Wadala project.
• The assessed stamp duty is Rs 118.1 crore, which the company had previously deposited.
• This resolution eliminates uncertainty and potential financial burden for the company.
• Over the past year, Macrotech Developers has achieved a 147.26% return.

Swaraj Engines Ltd

Rs.2,867.40/-

Swaraj Engines Recommends Significant Dividend

• Swaraj Engines has proposed a substantial dividend of INR 95 per share, pending shareholder approval at the AGM on July 18, 2024.
• The sustainability of this dividend is in question due to a high payout ratio of 122%, which could strain future payments unless profitability improves.
• Despite this, Swaraj Engines has delivered a 33.28% return over the past year.

Titan Company Ltd

Rs.3,594.35/-

Centrum Broking Maintains Bullish Stance on Titan

• Centrum Broking has reiterated its bullish outlook on Titan, maintaining a buy rating and raising the target price to Rs 4,337.
• Titan’s growth strategy, focused on a consumer-centric approach, offers significant potential in the wedding segment.
• Notably, Rakesh Jhunjhunwala’s investment in Titan stemmed from his adept market analysis and trend prediction.
• Over the past five years, Titan has delivered an impressive 181.04% return.

Hindustan Aeronautics Ltd

Rs.5,536.00/-

HAL Secures Major Defence Tender

• Hindustan Aeronautics Ltd (HAL) has received a Request for Proposal from the Ministry of Defence for the procurement of 156 Light Combat Helicopters.
• This tender, valued at over Rs. 45,000 crore, aligns with the government’s Make in India initiative to bolster self-reliance in defence manufacturing under Atmanirbhar Bharat.
• Over the past three years, HAL has delivered a remarkable 912.41% return.

Maruti Suzuki India Ltd

Rs.12,590.00/-

Maruti Suzuki Introduces Discounts to Boost Sales

• Maruti Suzuki India is offering significant discounts across almost the entire Arena lineup to counter slowing sales.
• The company has requested auto financiers to extend the credit period for dealers from 60 to 90 days due to increasing inventory at dealerships.
• Maruti led in revenue with Rs 1,06,451 crore and net profit of Rs 8,049 crore in 2022-23.
• Over the past year, Maruti Suzuki has achieved a 34.76% 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.