Stocks To Watch On July 5: Domestic markets traded within a narrow range and ended nearly unchanged on Thursday, pausing after Wednesday’s gains. In today’s trade, shares of HDFC Bank, IDFC First Bank, IDBI Bank, Dr Reddy’s, Lloyds Metals among others will be in focus due to various news developments and first-quarter updates.
HDFC Bank: HDFC Bank’s gross advances stood at Rs 24.87 trillion as on June 30, compared to Rs 25.08 trillion on March 31 — down 0.8 per cent sequentially. Advances grew 14.9 per cent year-on-year (Y-o-Y), excluding the impact of the merger of erstwhile HDFC Ltd.
The deposit book as of June 30 was Rs 23.79 trillion, almost flat compared to the quarter ago period. Deposits grew 16.5 per cent Y-o-Y, excluding the impact of the merger.
Bajaj Auto: Bajaj Auto is all set to become the world’s first two-wheeler company to launch a CNG bike on Friday. While the Pune-based company is yet to reveal the name of the bike, reports claim it is expected to be in the 125 cc segment and will be named Freedom 125. The bike is likely to have flexible fuel options and will feature two separate switches for petrol and CNG.
Raymond: In a regulatory filing on Thursday, textile major Raymond said the company’s Board has approved the scheme of arrangement of Raymond Ltd (demerged company) and Raymond Realty Ltd (resulting company).
As per the scheme of arrangement, each Raymond Ltd shareholder will receive one share of Raymond Realty for every one share held in Raymond Ltd.
That apart, the shares issued by Raymond Realty Ltd would be listed separately on the BSE and the National Stock Exchange of India (NSE).
IDFC First Bank: IDFC First Bank, on Thursday, said it has raised Rs 3,200 crore by selling more than 396.8 million shares for Rs 80.63 per scrip to six insurance companies, including LIC, HDFC Life, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company and SBI General Insurance Company.
RBL Bank: RBL Bank’s total deposits in the June quarter increased 18 per cent Y-o-Y to Rs 1.01 trillion. Advances, too, registered a growth of 18 per cent Y-o-Y to Rs 88,455 crore. Within this, retail advances grew 31 per cent Y-o-Y, and wholesale advances grew 2 per cent on year. CASA deposits were up 3 per cent to Rs 32,996 crore with CASA ratio at 32.6 per cent vs 37.3 per cent Y-o-Y and 35.2 per cent Q-o-Q.
Nazara Technologies: The company has incorporated a wholly-owned subsidiary named ‘Nazara US Inc’ in the State of Delaware, United States of America.
VST Industries: Radhakishan Damani has increased his stake to 3.47 per cent in the company, at the end of the June quarter, from 1.95 per cent at the end of the March quarter of FY24.
IDFC First Bank: State insurer Life Insurance Corporation of India (LIC) has increased its shareholding in IDFC First Bank to 2.68% acquiring the lender’s shares at a price of Rs 80.63 per share.
PNB: PNB’s global business jumped 10% year-on-year in the June quarter, while advances were up 13% year-on-year.
Ircon: Ircon received an order worth Rs 750.82 crore from Rail Vikas Nigam Limited (RVNL).
Lloyds Metals: Lloyds Metals and Energy to rise funds through a qualified institutional placement, which opened on Thursday. The floor price was set at Rs 732.08 per share.
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