Stocks to watch on June 3: ITC, HCLTech, Biocon, Prostarm Info Systems
Shares of several companies will be in focus on Tuesday, June 3, as Dalal Street enters a new trading day after a flat close in the previous session. The markets had a shaky start to the week with the Sensex falling over 700 points in early trade, but later recovered to end flat.Investors can keep an eye on the following stocks based on recent developments and announcements.PROSTARM INFO SYSTEMSProstarm Info Systems will be listed on the stock exchanges today. The company's initial public offering (IPO) received a strong response, with the issue being subscribed nearly 100 times overall. Market participants will closely watch how the stock performs on its debut.BIOCONBiocon is likely to remain in focus after it received approval for its diabetes drug Liraglutide in India. The approval adds to the company's growing list of approved treatments and could help boost its presence in the diabetes segment.NTPC GREEN ENERGYNTPC Green Energy has entered into a partnership with Honeywell to explore the production of sustainable aviation fuel (SAF) in India. The companies plan to use Honeywell's eFining technology to produce SAF using carbon dioxide captured from NTPC's power plants along with green hydrogen. This is a step towards cleaner energy alternatives.JINDAL STAINLESSJindal Stainless announced that it has acquired a 33.64% equity stake in a special purpose vehicle (SPV). The SPV is set up to develop a 282 MW hybrid renewable energy project. This project will support Jindal's manufacturing operations and help meet its power needs through renewable sources.TORRENT POWERTorrent Power has signed a long-term Sales and Purchase Agreement (SPA) with BP Singapore Pte, a subsidiary of global energy major bp. Under this agreement, Torrent Power will buy up to 0.41 million metric tonnes per annum (MMTPA) of LNG from 2027 to 2036. The imported LNG will be used for its 2,730 MW combined cycle gas-based power plants in India. It will also supply gas to Torrent Gas, the group's City Gas Distribution arm, for household, commercial, and CNG use.ITC LTDITC Ltd is likely to be in focus after US-based investment firm GQG Partners increased its stake in the company. The stake was raised through a bulk deal on May 28. ITC is one of the top consumer goods firms in India, and such investments attract investor attention.HCL TECHNOLOGIESHCL Tech has announced a strategic partnership with UiPath. The two companies will work together to improve Agentic Automation for global businesses. This partnership is expected to help clients automate their processes more effectively using artificial intelligence and digital tools.FRONTIER SPRINGSFrontier Springs has received orders worth Rs 93 crore from the Rail Coach Factory in Kapurthala and the Modern Coach Factory in Raebareli. These orders are likely to support the company's growth in the railway equipment space.
advertisement
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
14 minutes ago
- Time of India
Top metros dearer than Pune in co-living rent, except Chennai
Pune: Co-living rentals in Pune are easier on the wallets of renters compared to other metro cities in the country but are marginally costlier than those in Chennai. This is due to the correspondingly lower average rent of entry-level apartments in the city, data from real estate services firm Colliers India showed. Tired of too many ads? go ad free now The average co-living rent in Pune ranges from Rs 9,500 to Rs 15,700 per month, while the average rent of a premium co-living facility in a city like Bengaluru or Mumbai is Rs 23,700 and Rs 27,500 per month, respectively. The differential in rent between co-living and regular apartments for all cities is around 25-35%. Despite being the cheaper option, availability of co-living facilities is very limited as it is a relatively untapped market. Colliers India estimated that the overall capacity of the co-living segment is very low at 3 lakh beds compared to 5 crore migrant population moving within the country. However, it is expected to grow to 10 lakh beds by 2030 as more developers enter the segment. In Pune, developers are increasingly incorporating co-living units into standalone or mixed-use developments to cater to the growing demand, Manish Jain, president, Credai's Pune chapter, said. Co-living involves tenants sharing common facilities and spaces while having their own private rooms. It is particularly suitable for single occupants who are not immediately looking to buy a home, want to save on rent, and desire flexibility in the duration of their stay. Typically, the duration of stay ranges from eight to 12 months. "This sector has seen a rebound in Pune post-pandemic, especially during the last couple of years, with most companies from the IT sector adopting a flexible model for work from home and office," Saurabh Garg, co-founder, NoBroker, said. Tired of too many ads? go ad free now Co-living is mostly favoured among the service industry-intensive areas, such as Hinjewadi and Kharadi, on the western and eastern sides of the city, and in some pockets, including Vimannagar and Kalyaninagar. Besides single professionals, industry experts expect demand from postgraduate students, as not all educational institutes can accommodate the increasing number of students in their hostels. Rising migration to the top metro cities and the growing preference of white-collar workers for professionally managed spaces are also driving growth in the co-living sector. "With over 1,400 colleges and thriving job opportunities in areas like Hinjewadi, Kharadi, and Chakan, the city continues to attract young professionals and students aged 25–35. For this segment, co-living offers an ideal solution that is affordable, well-maintained, and in preferred locations," said Jain.
Time of India
14 minutes ago
- Time of India
Soon, a policy to help position UP as hub of sustainable aviation fuel
Lucknow: Finding potential in the evolving Sustainable Aviation Fuel (SAF) sector, which is emerging as a key solution in the global effort to decarbonise aviation, the Uttar Pradesh govt is set to come up with a SAF manufacturing policy. A draft version of the policy, which will be effective for a period of five years from the date of promulgation, is now up for comments and suggestions. "The policy aims to position UP as a leading hub for SAF manufacturing in India, enhance energy security, support decarbonisation of the aviation sector, and generate green employment opportunities through innovation, investment, and public-private partnership," said a senior officer in the state govt. The officer informed that Invest UP will be the nodal agency for sanction and disbursement of fiscal incentives to SAF units that come up under the policy. As per the draft, in addition to the primary goals, the policy also aims to support research, innovation, and technology partnerships in SAF feedstock processing and fuel conversion. It seeks to create rural and urban green employment opportunities through feedstock supply chains and processing facilities, contribute to national climate goals and India's SAF blending targets, while enhancing energy security, among others. To achieve the goals, the state govt would roll out several fiscal and non-fiscal benefits to willing investors. For this, the draft policy first describes large and mega SAF units based on minimum capital investment. While those with a minimum investment of Rs 50 crore and up to Rs 199 crore will be called large, those with an investment of Rs 200 crore or more would be called mega. The incentive framework also spells out eligibility criteria to elaborate on the fiscal benefits the state govt would extend. The list includes a front-end land subsidy of 50% to units that come up in Gautam Budh Nagar and Ghaziabad and 75% in the rest of western UP and central UP districts. For districts in the eastern UP and Bundelkhand region, the incentive would be 80%. The list also includes stamp duty exemptions, waiver for land use conversion, exemption from developmental charges, capital subsidy, state GST reimbursement, interest subsidy, skill development subsidy, and reimbursement of patent registration fees, among others. The non-fiscal benefits include the development of aggregated feedstock procurement platforms to ensure a steady and quality supply of biomass, used cooking oil, and municipal waste. It will facilitate linkages with farmers, waste management bodies, and industries for feedstock supply contracts, and the development of dedicated SAF storage, blending, and distribution infrastructure at airports and fuel depots at strategic locations having high biowaste production in proximity to aviation zones. The state govt will promote feedstock certification and sustainability standards to ensure compliance and market acceptance, among others. Companies like Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum are actively exploring partnerships and pilot projects to commercialise SAF technologies. Moreover, global players like Boeing and Airbus have entered collaborations with Indian institutions to develop indigenous SAF solutions.
United News of India
26 minutes ago
- United News of India
Axis Securities recommends ‘buy' on Signature Global stock
Pune, June 4 (UNI) Brokerage firm Axis Securities has recommended a 'buy' on Signature Global (India) Ltd with a target price of Rs 1,330, which is a 10 percent upside from the stock's current market price. Signature Global (India) Ltd is one of the largest real estate development companies in the NCR/Delhi regions in the affordable and mid-income segments. The company has now shifted its focus to mid and premium housing and has been successful in doing so, said Axis Securities in its report on Wednesday. Signature Global's stock closed at Rs 1,229.75 per share on June two. The stock is drawing attention from investors amid growing optimism about the company's future prospects. Pre-sales for FY25 stood at Rs 10,290 crore, surpassing the company's guidance of Rs 10,000 crore and showing a strong 42 percent year-on-year growth. During the year, Signature Global launched projects with an approximate Gross Development Value (GDV) of Rs 13,800 crore and added around eight million sq ft of new projects. The average ticket price of Signature Global's offerings rose to approximately Rs 2.5 crore, and the company's shift to premium housing has driven healthy sales momentum, said a company release here. UNI SP SS
