Stocks To Focus: Godrej Industries, HDFC Bank, ITC, YES Bank, Hindustan Zinc

By siliconindia  |  Wednesday, 03 July 2024, 09:39:08 AM IST

Stocks To Focus: Godrej Industries, HDFC Bank, ITC, YES Bank, Hindustan Zinc
Stocks to Watch on Wednesday, July 3, 2024: Indian equity markets are set for a strong start on Wednesday, with the GIFT Nifty trading over 100 points higher at 24,330 levels as of 7:50 AM. Globally, key indices across the Asia-Pacific region were trading up to 0.6 percent higher after US Federal Reserve Chair Jerome Powell noted that there was progress in reining in inflation.
Godrej Industries: The firm said in a stock exchange filing on Tuesday that members of the Adi Godrej and Nadir Godrej families will acquire cousin Rishad Naoroji’s 12.65% stake in Godrej Industries as part of the family settlement announced two months ago.
HDFC Bank: On Tuesday, HDFC Bank released its shareholding data for the April-June quarter, which revealed a decrease in the ownership of foreign institutional investors (FIIs) in the private lender during the quarter. According to BSE data, as of June 2024, the FII ownership in HDFC Bank stands at 54.8%, which is below the 55% mark. This suggests an increase in MSCI inflows.
ITC: ITC's FMCG business has expanded its export presence by launching 'Sunfeast Dark Fantasy Choco Fills' in Nepal, reaching over 70 countries. In August 2023, Surya Nepal Private Limited, a subsidiary of ITC in Nepal, inaugurated a new biscuit manufacturing line near Biratnagar in eastern Nepal.
YES Bank: In the first quarter of FY25, YES Bank reported a 15% year-on-year increase in loans and advances, with loans reaching Rs 2.29 lakh crore compared to Rs 2 lakh crore in the same quarter last year. Additionally, deposits grew by 21% year-on-year to Rs 2.64 lakh crore in the quarter ending June, up from Rs 2.19 lakh crore in the same period a year ago.
Hindustan Zinc: The company's mined metal production was 263 kilotonnes, which is a 2% increase from the previous year but a 12% decrease from the previous quarter. Saleable metal production was 262 kilotonnes, showing a 1% year-on-year increase and a 4% decrease compared to the previous quarter. Refined zinc production was reported at 211 kilotonnes, marking a 1% increase from the same period in the last fiscal year but a 4% decrease sequentially. Refined lead production reached 51 kilotonnes, indicating a 2% year-on-year increase and a 3% decline compared to the previous quarter.
Motilal Oswal Financial Services: Motilal Oswal Financial Services stated that SEBI has issued an administrative warning, asking the company to exercise caution and vigilance regarding minor operational matters in the future.
KEC International: KEC International, an engineering and manufacturing firm, has announced that it has won new orders worth Rs 1,017 crore in the transmission & distribution (T&D) and clean energy sectors. The secured orders include an engineering, procurement, and construction (EPC) project and tower supply in the Middle East, as well as a contract for the balance of the system package for a 625 MWp Solar PV project in Rajasthan from a subsidiary of an undisclosed PSU in the renewable power generation segment.
Rail Vikas Nigam: Rail Vikas Nigam has announced that it has been selected as the lowest bidder for a contract valued at Rs 132.59 crore by the Central Railways. The company will be responsible for the overhead equipment (OHE) modification work in the Wardha-Ballarshah section of the Nagpur division of Central Railway. The project aims to upgrade the existing 1 x 25-kilovolt electric traction system to a 2 x 25-kilovolt AT feeding system in order to meet a loading target of 3,000 MT.

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