Stocks to watch: HDFC Bank, Bajaj Auto, Yes Bank among shares in focus today; check list here | Stock Market News
Stock market today: The Indian stock market closed in the red on Monday as investors booked profits and rising crude oil prices, triggered by renewed hostilities between the US and Iran, weighed on market sentiment.
The Sensex declined 372.10 points, or 0.48%, to settle at 76,728.37, while the Nifty 50 dropped 109.75 points, or 0.46%, ending the session at 23,946.25.
However, the market is likely to open mildly positive as trends in the Gift Nifty index signalled a cautious undertone on Tuesday, 30 June. Gift Nifty was trading near the 24,011 mark, down over 38 points from the previous close of Nifty futures.
“Indian equity markets are expected to trade with a cautious bias as investors closely monitor renewed geopolitical tensions ahead of the next round of U.S.–Iran negotiations. Crude oil prices continue to hold on to their recent gains, with Brent trading in the $70–71 per barrel range following the latest military exchanges between the United States and Iran over the weekend. Investor attention is now firmly focused on the upcoming negotiations in Doha, with hopes that diplomatic progress will help ease regional tensions. However, any escalation or disruption to shipping through the Strait of Hormuz could reignite concerns over energy supplies, inflation and global risk sentiment, making developments in the region the key market driver in the sessions ahead,” said Ponmudi R, CEO of Enrich Money.
As the market is pointing towards a positive start, some stocks are likely to remain in focus on Tuesday due to their own positive/negative triggers.
HDFC Bank has named former Financial Services Secretary Rajiv Kumar as its part-time chairman for a four-year term, effective June 30. The appointment has been approved by the Reserve Bank of India, the lender said in a filing late on Monday.
Bajaj Auto has announced that its share buyback offer will open for tender on July 1 and conclude on July 7, after shareholders approved the proposal earlier this month.
The bank said its board has approved a proposal to raise up to ₹7,500 crore through the issuance of eligible securities and an additional ₹8,500 crore via debt securities, subject to the necessary shareholder and regulatory approvals.
The company announced that it has entered into a Memorandum of Understanding (MoU) with Container Corporation of India Ltd (CONCOR) to jointly offer project management consultancy (PMC) services for logistics infrastructure projects.
SIS has, in principle, approved a proposal to buy back shares worth up to ₹120 crore, marking its fifth share buyback since its listing in August 2017.
The company announced that its 50:50 joint venture with Hassan Allam Construction has been awarded a Letter of Award (LoA) worth approximately $560 million for the West Minya Solar Project in Egypt.
SJVN has entered into Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) to supply electricity from three upcoming hydroelectric projects in Himachal Pradesh: the 66 MW Dhaulasidh HEP, 210 MW Luhri Stage-I HEP, and 382 MW Sunni Dam HEP.
The Board has recommended a final dividend of ₹2 per share for FY25-26. The company has set July 23 as the record date to determine shareholders' eligibility for the proposed dividend, subject to its approval at the 50th Annual General Meeting.
State-owned Bharat Petroleum Corporation (BPCL) is set to acquire a 40% stake in Tiki Tar and Shell India Private Ltd. (TTSIPL) for ₹85 crore, marking its foray into India's rapidly expanding value-added bitumen (VAB) segment. The move is aimed at tapping into the country's robust infrastructure development and road construction growth, the company said on Tuesday.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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