 "Stocks to watch: JSW Steel, BLS International, Delhivery, ONGC, RVNL, and Wipro shares in focus")
The GIFT Nifty index, on Wednesday (July 10) around 8:30 am, was down 7 points or 0.03 per cent at 24,483. It hinted at a flat start for Dalal Street. The India VIX, an indicator of fear in the stock market, was up 5 per cent at 14.28 points.
Global cues were mixed ahead of the opening bell on Wednesday. Two of the three main Wall Street indices, Nasdaq and S&P 500, had closed at fresh record highs on Tuesday (July 9). Asian stocks edged marginally lower on July 10. According to Reuters, MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.27 per cent in early Asia trade, losing some steam after surging to an over two-year high at the start of the week.
Ahead of the share market opening in India, here’s a list of stocks to watch:
JSW Steel: JSW Steel, the flagship business of the JSW Group, reported consolidated crude steel production for the first quarter of financial year 2024-25 at 6.35 million tonnes. The crude steel production was lower by 1 per cent year-on-year (YoY) and 6 per cent quarter-on-quarter (QoQ) mainly due to planned maintenance shutdowns.
BLS International: BLS International announced the successful completion of the acquisition of a 100 per cent stake in Turkish company iDATA through its subsidiary BLS International FZE and step-down subsidiary BLS International Holding Anonim Şirketi.
Delhivery: Media reports suggest that Canada Pension Plan Investment Board is likely to sell its 3.18 per cent stake in Delhivery via block deals. The issue size of the block is Rs 886 crore, with the offer price range set between Rs 378-389 per share.
ONGC: The Oil and Natural Gas Corporation has announced that it will invest about Rs 2 lakh crore in setting up renewable energy sites, green hydrogen plants, and in cutting gas flaring to zero to achieve its 2038 net-zero carbon emission goal. It will invest Rs 97,000 crore by 2030 in setting up 5 gigawatts of renewable energy capacity, green hydrogen, biogas, pump storage plant and offshore wind project.
Impact Shorts
More ShortsRVNL: Rail Vikas Nigam Limited has received Letter of Acceptance from Nagpur Metro constructing six elevated metro stations. The project cost is over Rs 187 crore. The company also announced that it emerged as the lowest bidder for a project worth Rs 202.87 crore from the South Eastern Railway.
Wipro: The tech company has said that it has resolved a lawsuit filed by Wipro Ltd against its former CFO Jatin Dalal. A US SEC filing revealed that Cognizant’s board of directors permitted a payment of $505,087 to cover the settlement and legal fees associated with the poaching dispute.
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