IIFL Fin, LTIM, Deep Industries among seven stocks to watch on June | News on

Stocks to watch on Wednesday, June 05, 2024: Despite the unexpected outcome of the Lok Sabha 2024 elections, benchmark indices Sensex and Nifty could open higher. The GIFT Nifty futures suggested a gap-up start as they were quoting 126 points higher to Nifty 50 futures at 22,034.

In Tuesday’s trading session, Indian markets witnessed a sharp decline as the INDIA Alliance’s seat count surprised the Dalal Street. The BSE Sensex index saw an intraday plunge of over 6,200 points, ultimately settling 4,390 points. Similarly, the Nifty50 dropped below the 22,000-mark, hitting an intraday low of 21,281 before settling at 21,885. 

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Meanwhile, Asian markets displayed mixed trends this morning in anticipation of Australia’s GDP numbers. Korea’s Kospi rose by 0.73 per cent, while the Nikkei plunged by 1.06 per cent. Australia’s ASX 200, however, was trading 0.29 per cent higher.

Domestically, however, investors can track the following stocks on June 05

Deep Industries: The company secured a letter of award from Oil and Natural Gas Corporation (ONGC), Kakinada, for hiring DPDU (GDU) for processing gas for 10 months. The total estimated value of the award is Rs 56 crore.

IIFL Finance: According to reports, the special audit directed by the Reserve Bank of India (RBI) for the company has been concluded.

LTIMindtree: The technology consulting and digital solutions company expanded its partnership with SAP to deliver innovations for complex manufacturing industries.

RMC Switchgears: The company bagged a work order worth Rs 56.68 crore from AMISP provider for supplying SMC meter enclosures for smart meters.

Texmaco Rail & Engineering: The company inked a shareholders’ agreement and share purchase agreement with Saira Asia Interiors and its existing shareholders for acquiring a 51 per cent shareholding in Saira Asia Interiors for Rs 9 crore.

Uflex: The company entered into a power purchase agreement and share subscription and shareholders’ agreement for acquiring 5.03 per cent equity shares in Onevolt Energy for Rs 9.6 crore.

Shilpa Medicare: Shilpa Biologicals, a subsidiary of the company, filed its first Drug Master File of recombinant Human Albumin 20 per cent with the USFDA, targeting to fulfill the growing demand for human serum albumin to meet current and future market demand.