Stocks To Watch On July 4: Bulls regained control from the bears on Wednesday pushing the Nifty index above 24,300. In today’s trade, shares of Bajaj Finance, Vedanta, L&T Finance, Hindustan Zinc, Star Health among others will be in focus due to various news developments and first quarter updates.
Tata Steel: The Tata Group company, via an exchange filing, informed that the National Company Law Tribunal (NCLT) has approved the merger of Angul Energy into the company.
Vedanta: The Anil Agarwal-led company reported aluminium production of 596 kt in June quarter, up 3 per cent over Q1-FY24. The saleable zinc production grew marginally by 1 per cent Y-o-Y to 262 kt, while saleable steel production rose 10 per cent over previous year to 356 kt.
L&T Finance: L&T Finance’s retail disbursements increased by 33 per cent Y-o-Y to Rs 14,830 crore in the June quarter (Q1-FY25) with the retail loan book now at Rs 84,440 crore, up 31 per cent Y-o-Y.
Brigade Enterprises: The real estate player has signed a joint development agreement for a 1.2 million sq ft residential project in Bengaluru with a Gross Development Value of Rs 1,100 crore.
Hindustan Copper, Nalco, NMDC: India’s federally administered region of Jammu and Kashmir did not receive any bids in a second attempt to auction mining rights for lithium reserves found last year, Reuters reported on Wednesday. The government, in February 2023, found its first lithium deposits in Jammu and Kashmir with estimated reserves of 5.9 million metric tonnes.
Star Health and Allied Insurance: The insurer has reportedly set a target to double its gross written premium to about Rs 30,000 crore over the next four years.
Zee Media Corporation: The Ministry Of Corporate Affairs has approved the incorporation of the subsidiary Pinews Digital.
Bajaj Finance: Bajaj Finance reported a 10% year-on-year growth in new loans booked in the quarter ended June 30, 2024 at 10.97 million compared to 9.94 million in the corresponding period of the last financial year.
L&T Finance: L&T Finance’s retail disbursements were up 33% to Rs 14,830 crore for the first quarter, while realizations stood at 95%.
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