Stocks to watch, June 10: Afcons Infra, NLC India, Ajanta Pharma, Emcure Pharma, Adani Green, oil-sensitives

The domestic stock market is expected to open lower on Wednesday, June 10. The GIFT NIFTY futures suggest that the NIFTY50 index will open 70 points lower.

The company said that it has received a letter of award (LoA) from the Vadhvan Port Project Limited (VPPL) for the construction of a 10.14 km-long breakwater at the upcoming Vadhvan Port in Maharashtra.

US crude oil futures (WTI) for July delivery added 0.74% to $88.89 per barrel, paring gains after jumping over 1%. Brent futures, the international benchmark, for August delivery, rose 0.82% to $92.20 per barrel.

Besides upstream and downstream companies, paints, tyres, and aviation stocks will also be in the spotlight.

Bharti Airtel Ltd and its sister company Airtel Africa Plc have partnered with SpaceX’s Starlink to bring high-speed satellite broadband and direct-to-cell services to consumers and businesses. This collaboration positions Airtel as a key distributor and partner for Starlink.

The transaction is subject to customary due diligence, statutory and regulatory approvals, and other closing conditions, and is expected to be completed within three months.

According to block deal data available on the NSE, Ravi Agrawal Trust offloaded 34.50 lakh shares, representing a 2.76% stake in Mumbai-based Ajanta Pharma.

The shares were sold at an average price of ₹2,968 apiece, taking the deal value to ₹1,023.96 crore.

After the latest transaction, Ravi Agrawal Trust's shareholding in Ajanta Pharma fell to 10.24% from 13%. Also, the combined holding of promoters and promoter group entities dropped to 63.49% from 66.25%.

Meanwhile, Kotak Mahindra Mutual Fund (MF) bought 21.02 lakh shares of Ajanta Pharma, and Aditya Birla Sun Life MF acquired 13.47 lakh shares of the company at the same price, as per the data.

The shares were disposed of in the price range of ₹522.08-₹524.97 apiece for a combined value of ₹242.80 crore.

Meanwhile, Nippon India Mutual Fund picked 25 lakh shares or a 1.64% stake in Mumbai-based BlueStone Jewellery and Lifestyle for over ₹130 crore.

BC Investments IV Ltd, a Mauritius-based investment vehicle and an affiliate of Bain Capital, offloaded 36 lakh shares, representing a 1.89% stake in Pune-based Emcure, according to block deal data on the National Stock Exchange (NSE).

The shares were disposed of at an average price of ₹1,700 apiece, taking the transaction value to ₹612 crore.

Meanwhile, Kotak Mahindra Mutual Fund purchased the same number of shares, as per the data.

According to the block deal data on the NSE, Ardour Investment Holding Ltd, a promoter entity, offloaded 2,15,00,000 shares representing a 1.3% stake in Adani Green Energy.

The shares were disposed of at an average price of ₹1,510 apiece, taking the transaction value to ₹3,246.50 crore.

At the end of the March quarter, Ardour Investment Holding Ltd owned a 6.35% equity stake in the company.

Meanwhile, Adani Infra (India) Ltd acquired the same number of shares, as per the data.

Under the initiative, the company, which had in May announced a price hike by up to Rs 30,000 across models from this month, said prices of its small car will remain protected for all bookings done up to June 14, 2026.

"On the feedback of our channel partners, we have announced a price protection scheme for entry customers. Their (channel partners') plea was simple: the customer who is stepping forward with courage to buy a car should not be pushed back by a price hike. So, we are considering a price protection window for small car buyers. If you book, we give you a cushion," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Partho Banerjee said.

Jet fuel for domestic airlines will now cost ₹115 per litre, up from ₹104.927, PTI reported, citing sources.

The new rate will be locked in for up to three years for airlines that opt to participate in the government-backed price stabilisation scheme.