GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap up opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 181 points or 0.80% at 22,680 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 rose 736 points or 3.36% to settle at 22,620.35, while the BSE Sensex jumped 2,303 points or 3.20% to close at 74,382.
Stocks to watch on June 06, 2024
Wipro
IT services major Wipro has completed over 2,000 client proofs of concept (POCs) in artificial intelligence (AI), with an additional 300 underway, Sanjeev Jain, chief operating officer at Wipro told FE. “Wipro has made significant progress in identifying potential applications across all sectors we engage with,” he said.
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea
LTIMindtree
An overwhelming majority of LTIMindtree’s clientele—90 to 95%—are planning to invest in Generative AI (GenAI) within the next 12 to 18 months, and is currently engaging in over 140 GenAI projects, Nachiket Deshpande, the chief operating officer of the IT company told FE.
RVNL
On Wednesday, Rail Vikas Nigam (RVNL) said it has received multiple orders worth more than Rs 500 crore. It received a letter of acceptance from Eastern Railway for the construction of the Sitarampur bypass line under the Asansol Division. The project is valued at Rs 390.97 crore, according to a stock exchange filing.
Torrent Pharmaceuticals
Torrent Pharmaceutical has entered into a non-exclusive patent licensing agreement with Takeda Pharmaceuticals to commercialise Vonoprazan in India. It is used to treat and prevent the return of ulcers (sores in the lining of the stomach or intestine) caused by certain types of bacteria, the company said in an exchange filing.
KPI Green Engineering
On Wednesday, KPI Green Engineering said it bagged orders worth Rs 351.35 crore from various clients for projects, including building crash barriers for solar projects, railway track fencing, and electricity transmission line towers. Also, the company received orders for solar projects amounting to Rs 212.38 crore. This project includes fixed tilt module mounting structure, supply of tracker type module mounting structure & structure part.
BHEL
On Wednesday, in an exchange filing, Bharat Heavy Electricals said it received a Rs 3,500 crore order from Adani Power to establish a 1,600 MW Thermal Power Plant at Raipur, Chattisgarh. “Bharat Heavy Electricals Limited has received an order from Adani Power Ltd for setting up the 2×800 MW TPP at Raipur, Chhattisgarh,” said the company in an exchange filing.
HAL
On Wednesday, Hindustan Aeronautics announced that S. Somanath, Chairman of ISRO inaugurated state-of-the-art Propellant Tank Production and CNC Machining facilities at HAL’s Aerospace Division. The newly established facilities will greatly boost ISRO’s ability to meet its growing production needs, particularly for the Launch Vehicle Mark-3, India’s heaviest and most powerful rocket.
Nazara Technologies
On Wednesday, Nazara Technologies said that its subsidiary Absolute Sports acquired the assets of SoapCentral.com. “Nazara Technologies entered into an asset purchase agreement for all of SoapCentral.com’s assets for an all-cash consideration of Rs 11.6 crore. Absolute Sports will use its cash reserves to fund the transaction which is expected to be completed in the next 30 days,” read an exchange filing.