Stocks in news: Vraj Iron, YES Bank, RVNL, Zomato, HDFC Bank, HCL Tech, IEX and D-Mart

03/07/2024

Indian benchmark indices ended a volatile trading session on Tuesday on a flat note on the back of mixed global cues. BSE Sensex shed 34.74 points, or 0.04 per cent to end at 79,441.45. NSE's Nifty50 index gave up 18.10 points, or 0.07 per cent, to settle at 24,123.85 for the day. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, July 03, 2024

Vraj Iron and Steel: Shares of the metal player will make its Dalal Street debut on Wednesday after raising Rs 171 crore via IPO, which was open for bidding between June 26 and June 28. The company sold its shares in the range of Rs 195-207 apiece. The current GMP for the stock stood at Rs 50 per share.

HDFC Bank: The private lender's June 2024 quarter shareholding data shows that FII holdings in the bank fell to 54.83 per cent from 55.54 per cent at the end of the March quarter, raising the possibility of a likely increase in its weightage in the MSCI indices. Experts expect the lender to get FII inflows around $3-4 billion.

HCL Technologies: The global technology company launched its global delivery center in Patna. The center will focus on the delivery of IT and engineering services for Hi-Tech and semiconductor companies.

Indian Energy Exchange: The electricity exchange achieved an electricity volume of 10,185 MU in June 2024, marking a 24.7 per cent YoY increase. Green market volume stood at 744 MU for June 2024, growing 173.4 per cent over 272 MU in June 2023.

YES Bank: The private sector lender recorded 14.8 per cent YoY growth in loans and advances at Rs 2.29 lakh crore for Q1FY25. Deposits grew by 20.8 per cent YoY to Rs 2.64 lakh crore during the quarter, as per provisional data.

Avenue Supermarts: The standalone revenue from operations of D-Mart's operator for the quarter ended June FY25 stood at Rs 13,711.87 crore, growing 18.4 per cent over revenue of Rs 11,584.44 crore in Q1FY24. The total number of stores as of June 2024 stood at 371.

Hindustan Zinc: The mining and metal production in Q1FY25 at 2.63 lakh tonnes grew by 2 per cent YoY with improved mined metal grades. Saleable metal production at 2.62 lakh tonnes inched up by 1 per cent YoY. Refined zinc production rose merely 1 per cent YoY to 2.11 lakh tonnes and refined lead production increased by 2 per cent to 51,000 tonnes during the quarter.

Zomato: The food delivery platform's subsidiary Zomato Financial Services has decided to voluntarily withdraw the application submitted to the Reserve Bank of India for getting a certificate of registration for undertaking the business of a non-banking financial company (Type II NBFC-ND), as it does not wish to pursue the lending business anymore.

Aditya Birla Capital: The company has received no objection letters from the exchanges for the merger of Aditya Birla Finance with itself.

Mahindra & Mahindra Financial Services: The shadow-lender estimated the overall disbursement at approximately Rs 4,370 crore, delivering a 3 per cent YoY growth in June 2024 quarter. Q1FY25 disbursement at about Rs 12,730 crore grew by 5 per cent YoY. The collection efficiency was at 95 per cent for June 2024, against 96 per cent for June 2023.

Motilal Oswal Financial Services: The broking company has received an administrative warning from the capital markets regulator SEBI. The regulator advised the company to be careful in the future regarding minor operational matters. This letter has been issued by SEBI with respect to the examination carried out of the stock broking activities of the company.

MOIL: The manganese ore mining company has recorded sales growth of 14.5 per cent YoY for the June FY25 quarter, with record quarterly production of 4.70 lakh tonnes in Q1FY25, reporting a 7.8 per cent YoY growth.

KEC International: The global infrastructure EPC major has secured new orders worth Rs 1,017 crore in T&D and renewables businesses. The transmission and distribution business has secured orders for an EPC project and the supply of towers in the Middle East.

Rail Vikas Nigam: RVNL has emerged as the lowest bidder for a contract worth Rs 132.6 crore from Central Railway. The contract involves OHE modification work for the up-gradation of the existing 1 x 25 kV electric traction system to a 2 x 25 kV AT feeding system in the Wardha-Ballarshah Section in Nagpur division of Central Railway to meet the 3000 MT loading target.

Piramal Enterprises: The NBFC's subsidiary Piramal Capital & Housing Finance has received a 'no comments letter' from the India International Exchange (IFSC) Limited (India INX) for the establishment of a Euro Medium Term Note Programme.

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