 "Stocks to watch: Shares of RITES, Hindustan Unilever, Lupin, NLC India, and Bajaj Auto in focus")
The GIFT Nifty index, on Tuesday (July 16) around 9 am, hinted at a flat to muted opening for Dalal Street. The index was down 20.5 points or 0.08 per cent at 24,634 points. The India VIX, an indicator of volatility in the stock market, was up 3.37 per cent at 14.19 points.
Global cues remained positive. In the US stock market, all three major Wall Street indices closed higher. The Dow Jones recorded an all-time closing high.
Ahead of the Indian share market opening on Tuesday, here’s a look at stocks to watch:
RITES: Rail India Technical and Economic Service (RITES) has received a Letter of Acceptance for Consultancy Services for Third Party Monitoring & Quality Control for 47 Roads (Length 996.70 km) across Assam under Asom Mala 2.0 for the year 2023-24. The LoA has been awarded by the Public Works Roads Department (PWRD), Government of Assam. The order is worth Rs 50 crore.
Lupin: The pharmaceutical company has sold its US Commercial Women’s Health Specialty business to Evofem Biosciences Inc, a US biopharmaceutical company that focuses specifically on women’s health. As a result of this divestment, Lupin could receive up to $84 million, which includes the commercialization of SOLOSEC (secnidazole) 2g oral granules.
NLC India: The coal mining company has emerged as the successful bidder for the Machhakata (Revised) Coal Mine in Angul District of Odisha in the 8th round of commercial coal block e-auction held recently by the Ministry of Coal, Government of lndia. The Coal Mine Block has a total coal reserve of 1.38 Billion Tonnes (approximately) with an opera table peak-rated capacity of 30 Million Tonnes Per Annum.
Hindustan Unilever: The company’s board has approved the sale and divestment of its water purification business, operating under the brand Pureit, to A O Smith India Water Products for $72 million (Rs 601 crore), on a slump sale basis.
Impact Shorts
More ShortsBajaj Auto, L&T Finance, Crisil: These are among the many companies announcing their financial results for the first quarter of financial year 2024-25.
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