The domestic stock market is expected to open lower on Thursday, June 18. The GIFT NIFTY futures suggest that the NIFTY50 index will open 46 points lower.
Here is a list of stocks that may remain in focus today.
Textile, alcohol stocks: The India-UK free trade agreement (FTA) will come into force on July 15, the Commerce Ministry said on Wednesday. The Comprehensive Economic and Trade Agreement (CETA), aimed at boosting bilateral trade and reducing tariffs across sectors, was signed on July 24 last year.
BSE: Shares of BSE will be closely tracked as its counterpart, the National Stock Exchange (NSE), on Wednesday filed preliminary papers with markets regulator SEBI for its much-awaited IPO, estimated at around ₹30,000 crore, a share sale that is poised to become the largest public issue in Indian stock market history.
The filing marks a major milestone for NSE, whose listing plans had been stalled for nearly a decade due to regulatory hurdles, including the co-location controversy.
On Wednesday, shares of BSE ended at ₹4,004 apiece on the NSE, down 3.81%.
HFCL: Domestic telecom company HFCL has bagged an order worth ₹2,666 crore from Rail Vikas Nigam Ltd to supply equipment for the BharatNet Phase-3 project.
The fresh contract is in addition to the earlier contract of ₹2,167.65 crore awarded to the company by RVNL for BharatNet Phase-3 projects in the Uttar Pradesh (East) and Uttar Pradesh (West) telecom circles in January, the company said in a regulatory filing.
“The Company has been awarded a Contract amounting to around ₹2,666.09 crore by Rail Vikas Nigam Limited (RVNL). This contract pertains to the BharatNet Phase-3 project in the Uttar Pradesh (West) telecom circle,” HFCL said in the filing.
GIC: The government on Wednesday said it has sold a 5% stake in the public-sector reinsurance company, the General Insurance Corporation of India (GIC), with an enthusiastic response from investors to the offer for sale.
The stake sale is expected to garner about ₹3,000 crore for the exchequer, taking the total proceeds from five PSU disinvestments so far in the current fiscal to around ₹16,000 crore.
Non-retail investors oversubscribed the offer for sale (OFS) on Tuesday, putting in bids worth ₹4,000 crore. The OFS opened for retail investors on Wednesday.
“Offer for Sale (OFS) in GIC Re closed with enthusiastic response from the investors. Government of India has divested 5 per cent of its stake in GIC Re with full subscription of base and green-shoe offer,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on X.
ACC: ACC Ltd will continue to expand its cement capacity in a calibrated manner, deepen its ready-mix concrete (RMC) footprint, and accelerate the adoption of low-carbon technologies, according to its Chairman, Karan Adani.
In his message to shareholders in the latest annual report, Adani said the long-term growth outlook for the Indian economy remains strong; however, demand conditions in the near-term are likely to stay ‘moderate’, which requires ‘a balanced and disciplined approach to growth’.
“We will continue expanding our cement capacity in a calibrated manner, deepen our ready-mix concrete footprint, strengthen integration across logistics networks, and accelerate adoption of low-carbon technologies,” said Adani.
Vedanta Iron and Steel: Newly-listed Vedanta Iron and Steel Ltd (VISL) on Wednesday said it aims to become a major resource-backed integrated steel platform mainly driven by long-life reserves and operational integration.
The company said it is focused on expanding value-added product capacity across high-silicon iron, ductile iron pipes, wire rods, and rebars.
The company said it is focused on expanding its capacity across silicon iron, ductile iron pipes, wire rods, and rebars.
Supported by approximately 4 billion tonnes of iron ore reserves and resources, providing more than 50 years of raw material security, the company is building a platform designed to create long-term value across the iron ore and steel value chain.
DOMS Industries: Promoter-group entity FILA Fabbrica Italiana sold a 7% stake in DOMS Industries through a block deal on the NSE on Wednesday. The transaction involved 42.5 lakh shares worth approximately ₹935 crore, with the shares changing hands at an average price of ₹2,200.33 apiece.
Domestic institutional investors participated in the transaction, with SBI Mutual Fund and Axis Mutual Fund among the key buyers.
RVNL: The company bagged a fresh order worth ₹967.93 crore from the East Coast Railway on Wednesday, June 17.