Stock Market Watch: High-Potential Stocks Poised for a Surge on June 5, 2024

Indian Stock Market: Leading Picks to Consider for Investment on June 5, 2024

Uflex Ltd

Rs.403.90/-

Uflex Ltd Acquires Equity Shares in Onevolt Energy

• Uflex Ltd acquires 5.03% equity shares in Onevolt Energy for Rs 9.6 crore.
• The acquisition is part of Uflex’s efforts to expand its renewable energy portfolio.
• This move could potentially lead to future revenue growth and strengthen the company’s position in the renewable energy market.
• UFLEX has given 4.96% returns in the last year.

 

LTIMindtree Ltd

Rs.4,727.75/-

LTIMindtree Ltd Expands Partnership with SAP

• LTIMindtree Ltd strengthens its collaboration with SAP to deliver advanced innovations for complex manufacturing industries.
• This partnership aims to boost LTIMindtree’s digital solutions capabilities.
• The initiative is expected to drive future revenue growth.
• LTIMindtree has achieved a remarkable 161.91% return over the past five years.

 

Deep Industries Ltd

Rs.271.60/-

Deep Industries Ltd Secures Gas Processing Contract

• Deep Industries Ltd wins a gas processing contract from ONGC valued at Rs 56 crore.
• The contract involves hiring a DPDU (GDU) for gas processing over 10 months.
• This deal is expected to drive potential revenue growth for the company.
• Deep Industries Ltd has delivered an impressive 1489.89% return over the past five years.

 

IIFL Finance Ltd

Rs.400.00/-

Conclusion of Special Audit for IIFL Finance Ltd

• The Reserve Bank of India (RBI) has wrapped up its special audit of IIFL Finance Ltd.
• Details about the audit findings have not yet been released.
• Investors may exercise caution until further information is provided.
• IIFL Finance Ltd has posted a 134.25% return over the past five years.

 

Hindalco Industries Ltd

Rs.652.90/-

Novelis Postpones IPO Amid Market Conditions

• Hindalco’s subsidiary Novelis has decided to postpone its IPO in the US due to current market conditions.
• Novelis will keep evaluating the right timing for the offering.
• This delay might affect Hindalco’s revenue growth plans and investor sentiment.
• Hindalco has delivered a 65.82% return over the last year.

 

Shilpa Medicare Ltd

Rs.473.10/-

Shilpa Biologicals Submits First DMF to USFDA

• Shilpa Biologicals, a subsidiary of Shilpa Medicare, has submitted its first Drug Master File (DMF) for recombinant Human Albumin 20% to the USFDA.
• This filing aims to address the rising demand for human serum albumin in the market.
• The move is expected to meet both current and future market needs.
• Shilpa Medicare has seen a 110.71% return in the past year.

 

RMC Switchgears Ltd

Rs.401.00/-

RMC Switchgears Wins Significant Work Order

• RMC Switchgears has secured a work order worth Rs 56.68 crore from an AMISP provider.
• The order is for supplying SMC meter enclosures for smart meters in PVVNL and MVVNL projects.
• This development could drive revenue growth for RMC Switchgears.
• RMC Switchgears Ltd has achieved an astonishing 3677.58% return over the last three years.

 

Texmaco Rail & Engineering Ltd

Rs.175.50/-

Texmaco Gains Majority Control of Saira Asia Interiors

• Texmaco Rail & Engineering will acquire a 51% stake in Saira Asia Interiors for Rs 9 crore.
• This acquisition aims to bolster Texmaco’s position in the engineering and infrastructure sector.
• The move is anticipated to drive future revenue growth for Texmaco.
• Texmaco Rail & Engineering Ltd has delivered a 249.29% return over the last year.

 

Wipro Ltd

Rs.449.65/-

Wipro Unveils AI-Powered Decision Support Platform

• Wipro collaborates with Zscaler to introduce Wipro Cyber X-Ray, an AI-driven decision support platform.
• The platform equips enterprise CXOs with tools to make informed security investment decisions and convey cybersecurity insights to senior leadership and the board.
• Wipro’s partnership with Zscaler marks a significant step towards enhancing cybersecurity capabilities.
• Wipro Ltd has recorded a 9.87% return over the past year.

 

Tata Motors Ltd

Rs.916.85/-

Tata Motors Unveils Merger and Subsidiary Formation Plans

• Tata Motors Finance is set to merge with Tata Capital, pending regulatory approvals.
• The board has greenlit the establishment of a wholly-owned subsidiary named TML Commercial Vehicles.
• This strategic restructuring aims to streamline Tata Motors’ operations and bolster operational flexibility.
• Tata Motors Ltd has delivered a 74% return over the last year.

 

GPT Infraprojects Ltd

Rs.232.00/-

GPT Infraprojects Lands Rs 547 Crore Contract

• GPT Infraprojects secures a significant Rs 547 crore contract from Rail Vikas Nigam.
• The order is anticipated to drive the company’s revenue and profitability in the foreseeable future.
• This achievement may have a positive impact on GPT Infraprojects’ stock performance.
• GPTINFRA has delivered an impressive 315.48% return over the past year.

 

State Bank of India

Rs.768.15/-

SBI Board to Deliberate Fundraising Plans

• The board of State Bank of India will review plans to raise up to $3 billion through public or private placement of senior unsecured notes in FY 2024-25.
• This strategic move is aimed at securing long-term funds for the bank.
• The potential fund infusion could bolster the bank’s capital base and fortify its financial standing.
• SBIN has generated a commendable 54.23% return over the past year.

 

Container Corporation of India Ltd

Rs.972.30/-

CONCOR and SCI Forge Collaboration Through MOU

• Container Corporation of India (CONCOR) has inked a Memorandum of Understanding (MoU) with Shipping Corporation of India (SCI) to explore synergistic business opportunities.
• The collaboration aims to capitalize on the respective infrastructure and expertise of CONCOR and SCI to provide seamless and cost-effective end-to-end logistics solutions to customers.
• This strategic partnership is poised to enhance efficiency and convenience, offering customers a single window for comprehensive logistics services.
• CONCOR has achieved a notable 74.87% return over the past year.

 

NLC India Ltd

Rs.199.10/-

NLC India Considers Foreign Currency Loans for Expansion

• NLC India Ltd is contemplating raising foreign currency loans through external commercial borrowings (ECB) of up to $600 million, with a decision slated for June 10.
• Additionally, the company plans to seek assistance from multilateral development banks (MDBs) to support its upcoming renewable power projects.
• This strategic move reflects NLC India’s commitment to expanding its operations and investing in renewable energy infrastructure.
• NLCINDIA has delivered an impressive 145.6% return over the past year.

 

 

Also read: Fashion Influencer Nancy Tyagi Makes History with Self-Stitched Outfit at Cannes Film Festival

Krystyna Pyszkova, Representing The Czech Republic, Crowned Miss World 2024!

Top 15 Incredibly Beautiful Women from Across the World

Source: Google

News Desk: News Lounge 24×7

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.