 "Stock market today: Shares of L&T Tech Services, RVNL, Dr Reddy's, BLS International, and JSW Energy in focus")
The GIFT Nifty, on Thursday at 8:30 am, was down 53.5 points or 0.22 per cent at 23,808. The index suggested a negative start for D-Street on June 27. The India VIX, an indicator of volatility in the stock market, was down 1.87 per cent at 14.04.
Global cues were mixed. The US stock market faced choppy trade on Wednesday, and the three major indices (Dow Jones, Nasdaq, and S&P 500) closed around record high levels. Asian markets were in the red.
Ahead of the opening bell in India, here’s a look at stocks to watch.
L&T Technology Services: AM Naik has decided to step down as Chairman of LTTS at the end of LTTS’ 12th AGM on June 26, 2024. The Board of Directors of LTTS have appointed SN Subrahmanyan, (Vice-Chairman), as Chairman with effect from June 27, 2024.
Dr Reddy’s Laboratories: A wholly-owned subsidiary of the company, Dr. Reddy’s Laboratories SA, Switzerland, has entered into a definitive agreement with Haleon Group to acquire Nicotinell and related brands.
RVNL: The KRDCL-RVNL joint venture has received Letter of Acceptance from Southern Railway for “Provision of Automatic Signalling on Ernakulam JN (ERS) - Vallattol Nagar (VTK) Section on B-Route of Thiruvananthapuram Division in Southern Railway.” The size fo the order is Rs 156.47 crore.
BLS International: BLS International FZE, a wholly-owned subsidiary of the BLS International, has incorporated an overseas wholly-owned subsidiary BLS International Holding Anonim Şirketi in Turkey. The purpose of the Company is to acquire shares of companies in
Turkey, to participate in their capital and management, and to handle their investment, financing, organisation and management issues.
Impact Shorts
More ShortsUPL: The company has incorporated a wholly-owned subsidiary in Mauritius. The company is called UPL AgroSolutions Mauritius Limited and has been incorporated to carry out trading of chemicals including agro-chemicals, agricommodity and other related products.
Ramky Infrastructure: The company has received orders from PowerGrid Energy Services, a subsidiary of PowerGrid Corporation of India. The work is a part of Loss Reduction work under the Results-linked Distribution Sector Scheme (RDSS) in Leh District. Together, the orders are worth over Rs 135 crore.
Archean Chemical: India Resurgence Fund – Scheme 1 & Scheme 2, and Piramal Natural Resources are planning to sell a 10.13 per cent stake in Archean. According to sources reported by CNBC-TV18, the floor price for the sale is set at Rs 655 per share, with a total deal size of Rs 818.7 crore.
JSW Energy: JSW Neo Energy, a wholly-owned subsidiary of the company, has signed Power Purchase Agreements for wind and solar projects with a total capacity of 1,325 MW. This includes 1,025 MW with Solar Energy Corporation of India and 300 MW with Gujarat Urja Vikas Nigam, through its subsidiaries.
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