Benchmark equity indices jumped to new lifetime highs on Thursday, fuelled by intense buying in market heavyweights Reliance, ICICI Bank, and HDFC Bank amid a recent increase in foreign capital inflows. In addition, stable crude oil prices extended support to capital markets amid investors looking for fresh triggers.
The BSE Sensex soared 141.34 points or 0.18 per cent to settle at a new closing peak of 77,478.93. The NSE Nifty50 climbed 51 points or 0.22 per cent to settle at its fresh closing high of 23,567.
"Despite experiencing significant volatility, the domestic market concluded the day positively. In the near term, market attention is expected to centre around the upcoming Union budget and the progress of the monsoon. On the global front, the decline in US bond yields has facilitated robust FII inflows in recent days. The fertilizer stocks exhibited good momentum, driven by the proposed removal of GST & hike in MSP," said Vinod Nair, Head of Research at Geojit Financial Services.
Here are the key stocks to watch on June 21:
JM Financial: The company has been directed by the Securities and Exchange Board of India (SEBI) to refrain from accepting new mandates as a lead manager in public issues of debt securities until March 31, 2025, or until further notice from SEBI. The SEBI order explicitly excludes the company’s involvement as a lead manager to public issue of equity instruments and other activities.
Amara Raja Energy: The company has acquired an additional 4.5 per cent stake in electric vehicle battery maker InoBat for 20 million Euros (around Rs 180 crore). With the latest investment, Amara Raja Energy’s total holding will be around 9.32 per cent of its equity stake in InoBat AS, including its previous investment of 10 million Euros.
Yes Bank: The private sector lender announced that its Board of Directors will meet on Tuesday, June 25, 2024, in Mumbai to consider and approve a resolution enabling the bank to borrow or raise funds through the issuance of debt securities. The proposed fundraising options include issuing debt securities in Indian and foreign currencies.
Piramal Enterprises: Srikrishna Trust, a promoter of Piramal Enterprises Ltd, offloaded a 4.51 per cent stake worth Rs 976.5 crore in the non-banking finance company through open market transactions on Thursday, a day after it sold its stake in the company. Srikrishna Trust sold 1.07 crore shares, representing a 4.51 per cent stake in the company at Rs 906 per share, as per NSE data. The trust held a 35.11 per cent stake as of March.
GE Power: The company announced the receipt of a Letter of Intent for a contract valued at Rs 243.46 crore from the NTPC GE Power Services Pvt Ltd (NGSL). The contract involves the renovation and modernisation of LMZ Steam Turbines at Wanakbori Thermal Power Station (TPS) Unit No. 1 and Unit No. 2, each with a capacity of 210 MW.
