2 days ago
Stocks to watch on June 11: Wipro, Reliance Infra, IndiGo, Maruti Suzuki
The Indian stock market ended slightly lower on Tuesday as investors booked profits after a recent rally on Dalal Street. Both the Sensex and Nifty traded flat for most of the day and closed with small De, Senior Technical Analyst at LKP Securities, said that the Nifty has sustained above the previous consolidation zone on the daily timeframe, indicating a continuation of the uptrend."This positive sentiment is likely to persist and the sentiment favour long trades as long as the index remains above the key support level of 24,850. On the higher side, the index may move towards 25,350 in the short term, with the potential for an extended rally if it breaks decisively above 25,350. However, a fall below 24,850 could trigger a correction," he is a look at the stocks that could be in focus on June 11:RELIANCE INFRASTRUCTUREReliance Defence, which is part of Reliance Infrastructure, has deepened its partnership with German defence company Diehl two firms had signed a cooperation agreement in 2019. Their new agreement aims to speed up the supply of Vulcano 155mm precision-guided ammunition to the Indian Armed support this, Reliance Infra is building a greenfield factory in Ratnagiri, Maharashtra. The new facility will have the ability to make up to 2 lakh artillery shells every year, along with 10,000 tonnes of explosives and 2,000 tonnes of has announced an extension of its partnership with Metro AG, a global food wholesaler. The deal has been extended for another two years. This ongoing collaboration is expected to strengthen Wipro's IT services presence in the retail and wholesale CARBON & CHEMICALSShares of Oriental Carbon may be active after Bank of America (BofA) purchased 53,428 shares in the company via a block deal on Monday. Oriental Carbon is a microcap stock and such deals often attract investor SUZUKIIndia's largest carmaker, Maruti Suzuki, is adjusting the production of its upcoming electric SUV, the e-VITARA. This decision has been taken due to a shortage of rare earth magnets, which are used in electric vehicles. The supply shortage may affect the company's plans for electric vehicle production in the short is planning to expand its global operations. The airline will start direct flights to three major cities in Central Asia – Almaty (Kazakhstan), Tashkent (Uzbekistan), and Tbilisi (Georgia). This move is part of IndiGo's strategy to strengthen its international presence and offer more options to FINANCEIIFL Finance will be raising up to Rs 600 crore by issuing non-convertible debentures (NCDs) through private placement. The fundraise aims to support the company's lending activities and improve its financial RAIL AND ENGINEERINGTexmaco Rail has received a fresh order worth Rs 44.04 crore from the Mumbai Railway Vikas Corporation. The company is involved in making railway equipment and infrastructure, and this order may boost its earnings TECHNOLOGYKaynes Technology announced that its fully-owned subsidiary, Kaynes Semicon, has signed an asset purchase deal with Fujitsu General Electronics Limited, Japan. This step could help Kaynes expand its presence in the semiconductor manufacturing FINANCIALMax Financial has appointed Sumit Madan as the new Managing Director and CEO of Axis Max Life. His five-year term will begin on October 1. This leadership change could bring fresh direction to the company's life insurance joint GRAMEENCreditAccess Grameen has secured a $100 million loan facility in multiple currencies. The social loan, classified under the automatic route of the Reserve Bank of India's external commercial borrowing (ECB) policy, will help the microfinance firm strengthen its lending COMPANIESShares of liquor companies may come under pressure after the Maharashtra government increased excise duties. The tax on Indian Made Foreign Liquor (IMFL) has gone up from 3 times to 4.5 times the declared manufacturing cost, capped at Rs 260 per bulk country liquor, the duty has increased from Rs 180 to Rs 205 per proof litre. This may affect pricing and margins for alcohol manufacturers in the state.
advertisement
