Stocks To Watch: Yes Bank, Mazagon Dock, Ultratech Cement And Others In News

The NSE Nifty50 went up by 183.45 points or 0.78 per cent to settle at a fresh record high of 23,721.30. Sector-wise it was a mixed bag with buying seen in Banking, Financials, and IT
Stocks to watch
Stocks to watch

Benchmark equity indices settled at another record high on Tuesday following a rally in banking and financial stocks amid strong domestic cues.

The BSE Sensex breached the historic 78,000 level for the first time as it jumped 712.44 points or 0.92 per cent to settle at a new closing peak of 78,053.52. The NSE Nifty50 went up by 183.45 points or 0.78 per cent to settle at a fresh record high of 23,721.30. Sector-wise it was a mixed bag with buying seen in Banking, Financials, and IT.

“The current account deficit reduced to 0.7 per cent of GDP in FY24 from 2 per cent in FY23 and recorded a surplus of 0.6 per cent of the GDP in Q4 due to higher service exports. Even in the upcoming budget, the focus will remain on fiscal consolidation along with growth-oriented measures aimed at addressing rural stress. Hence, we expect the market to maintain its positive momentum as we draw nearer to the event. Globally, investors would track US Consumer confidence data which is scheduled late today,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.

Here are the key stocks to watch on June 26:

Yes Bank: The private sector lender informed exchanges that its board approved the borrowing/raising of funds by issue of debt securities. “The options could be non-convertible debentures (NCDs), bonds, or Medium Term Note (MTN) among others,” the bank said.

Mazagon Dock Shipbuilders: The public sector undertaking (PSU) has been granted “Navratna” status by the Department of Public Enterprises. It has become the 18th PSU to have been accorded this status.

Ultratech Cement: Almost a month after making an offer to acquire 31.6 per cent in UAE-based RAKWCT, Aditya Birla Group firm said it has revised the deal to 25 per cent. Earlier, Ultratech had offered to acquire a 31.6 per cent stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT) and acquire 15.80 crore shares. The offer is made by UltraTech Cement Middle East Investments Ltd (UCMEIL), a wholly-owned subsidiary of the Indian cement maker in the UAE.

Coforge: The Competition Commission of India (CCI) has approved the acquisition of a 54 per cent majority stake in Cigniti Technologies, following Coforge’s board approval in May.

Telecom Stocks: Telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea placed bids totaling around Rs 11,131 crore on the first day of the spectrum auction, covering five rounds. Airwaves worth Rs 96,000 crore are up for sale in the auction.

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