Stocks to watch: Maruti Suzuki, Airtel, Hind Copper, IHCL, SAIL, UPL, Lupin

Stocks to watch today: A choppy trade is on cards for the Indian equity amid unsupportive global cues. As of 7:22 AM, the SGX Futures quoted 15,715 levels, signaling a cut of over 50-odd points on the Nifty50. On Thursday, the US traded tepid as the S&P 500 was on track for worst first half of the year since 1970. Both the S&P 500 and Dow Jones slipped 0.8 per cent each, whereas, NASDAQ Composite declined 1.3 per cent.

That said, major in Asia-Pacific lost steam too as Nikkei 225 lost 0.7 per cent and Topix dropped 0.5 per cent.

Back home, investors will watch out monthly auto sales figures due on Friday, July 1.

Meanwhile, here is a list of stocks that may see some action in trade on Friday:

Future Enterprises: The debt-ridden company has defaulted yet once again, this time on payment of interest of Rs 6.15 crore for its non convertible debentures. This is the fifth default in June by the Kishore Biyani-led Future Group firm. READ MORE

Maruti Suzuki: The auto major aims to increase its share in the SUV segment, with the launch of four new brands over the next couple of years. With 43 per cent market share in India’s passenger vehicle market, they launched refurbished version of its popular compact SUV model, named Brezza. The price starts at Rs 7.99 lakh for the base variant and goes up to Rs 13.96 lakh for the top variant. READ MORE

Bosch India: Leading supplier of technology and services, will expand their artificial intelligence of things (AIoT) activities in India. They plan to transform their headquarters in Bengaluru into a new smart campus named Spark – first smart campus ever to be built in India. Over the last five years, Bosch invested Rs 800 crore in developing campus that had the capacity to house 10,000 associates. READ MORE

SAIL: The flagship arm of SAIL, Bhilai Steel Plant has supplied over 80,000 tonnes of steel for the Mumbai–Ahmedabad high-speed rail corridor project. The 508-km project, slated for completion in October 2028, will connect Mumbai and Ahmedabad with a high-speed rail track, where trains would travel at a speed of 320 kms per hour. READ MORE

Hindustan Copper: The board suggested to take shareholders’ approval to raise up to Rs 500 crore through debentures. The board has also recommended taking the approval of the shareholders in the ensuing annual general meeting for raising funds by issue of equity shares through Qualified Institutional Placement. READ MORE

Indian Hotels Company: The company’s chairman N Chandrasekaran is confident that the hospitality industry would perform well going forward barring unforeseen circumstances. He expressed the company’s desire to touch 300 properties by 2025 and increase rooms to 35,000. However, he mentioned that there is no plan to raise funds by the company. READ MORE

Bharti Airtel: The telecom operator chose four-year moratorium to repay around Rs 3,000 crore of adjusted gross revenue (AGR) dues to the government. However, they have backed out of conversion of interest on deferred dues into equity for the government. READ MORE

Sundaram Fasteners: The auto components major plans to invest Rs 400 crore in fasteners and defence vertical over the next two years. Meanwhile, in the defence sector, the company plans to invest over Rs 100 crore in the next two years. READ MORE

Globus Spirits: The company has entered into an agreement with Tilaknagar Industries for strategic, technical, manufacturing and marketing tie-up and offer integrated service to operate plant of 140 KLPD distillery asset located at Ahmednagar, Maharashtra. The company will also provide services from engineering to operations and maintenance for distillery assets owned by Tilaknagar Industries.

UPL: The company has acquired 100 percent holding in Nature Bliss Agro (NBAL) to become a wholly-owned subsidiary of the company. With this acquisition, they plan to manufacture and sale crop protection and allied products, in sync with existing business activities of UPL.

Lupin: The pharma company received USFDA nod for Abbreviated New Drug Application (ANDA) – Paliperidone extended-release tablets. The product will be manufactured at Lupin’s facility in Goa and will be used in the treatment of schizophrenia, a mental disorder.

Blue Star: CARE has reiterated its long term and short term rating on credit facilities and non-convertible debentures of Blue Star at AA+. However, they have revised the outlook from ‘Negative’ to ‘Stable’ based on healthy recovery and demand for air-conditioning and refrigeration products.

Kridhan Infra: Rajeshree Indradev has resigned as Chief Financial Officer of the company on June 30. The company is in the process of identifying or hiring new person for the vacant position.

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