Stocks to Watch: The domestic stock market will likely open in the green on Tuesday, June 3. The GIFT NIFTY futures indicate that the NIFTY50 index will open 19 points higher.
Here is a list of stocks that may remain in focus today.
Mphasis: The stock of the IT services company will be on investors' radar as the company has issued a clarification regarding a news report by Mint that Mphasis will lose FedEx business, accounting for 8% of total revenue.
The company, in its exchange filing, said that Mphasis continues to be a service provider in the FedEx ecosystem. "Other aspects of the article are purely speculative," it added.
The company further said that Mphasis management reiterates and stands by its outlook and assessment previously communicated at its prior investor calls and most recent earnings call.
Oil-linked stocks: Shares of crude oil-linked companies such as paints, tyres, aviation, oil marketing companies, and exploration firms will likely remain in focus on a rise in crude oil prices.
Oil prices rose in early Asia trade on Tuesday on concerns about supply, with Iran set to reject a US nuclear deal proposal that would be key to easing sanctions on the major oil producer and with production in Canada hit by wildfires.
Both contracts, WTI and Brent, gained nearly 3% on Monday after OPEC+ agreed to keep output increases in July at 411,000 barrels per day, which was less than some in the market had feared, Reuters reported.
Torrent Power: Ahmedabad-based Torrent Power Ltd has signed an agreement to buy up to 0.41 million tonnes per annum of LNG from BP Singapore for 10 years starting in 2027, the company said on Monday.
Torrent will use the liquefied natural gas (LNG) to generate electricity at its 2,730-megawatt gas-based power plants as well as meet city gas demand, it said in a statement.
"Torrent Power Ltd (TPL) has signed a long-term sales and purchase agreement (SPA) with BP Singapore Pte Limited, a subsidiary of global integrated energy company BP, for the supply of up to 0.41 million tonnes per annum of LNG from 2027 to 2036," it said.
Godrej Properties: Realty firm Godrej Properties Ltd has acquired a 14-acre plot of land in Pune for around ₹800 crore to develop a housing project as part of its expansion plan.
In a regulatory filing on Monday, Godrej Properties said it will develop the 14-acre land parcel in Kharadi-Wagholi, Pune.
The development on this land will comprise primarily premium group housing.
"The project will have a developable potential of 3.7 million square feet with an estimated revenue potential of ₹4,200 crore," the company said.
Biocon: The company said it has received approval in India for its Liraglutide drug substance, and its wholly owned subsidiary, Biocon Pharma Limited, has received approval for its Liraglutide drug product (6 mg/ml solution for injection in a pre-filled pen and cartridge) from the Drugs Controller General of India, CDSCO (Central Drugs Standard Control Organisation).
The approval is for the generic version of Victoza®, indicated for the treatment of insufficiently controlled Type 2 Diabetes Mellitus in adults, adolescents and children aged 10 years and above, as an adjunct to diet and exercise.
Grasim Industries: The company on Monday informed stock exchanges that the finance committee of the company's board has approved the issuance of fully paid, unsecured, listed, rated, redeemable, rupee-denominated, non-convertible debentures of ₹1,00,000 per debenture aggregating up to ₹1,000 crore, in one or more tranches, on a a private placement basis.
Man Industries: The company, in its exchange filing, said that the company's board has approved a proposal to raise up to ₹300 crore through a preferential allotment of convertible warrants and equity shares to promoter group entity and non-promoters, respectively, subject to the approval of shareholders of the company.
Zinka Logistics: According to a report by CNBC-TV18, Quickroutes International is likely to divest a 9% stake in Zinka Logistics Solutions Ltd, a digital platform for truck operators, through a block deal, aiming to raise approximately ₹647 crore.
Frontier Springs: The company has received orders for air spring assemblies aggregating to a total value of ₹92.6 crore (inclusive of GST) from Rail Coach Factory, Kapurthala, and Modern Coach Factory, Raebareli.
Vodafone Idea: Vodafone Idea (VIL) on Monday said it is engaged with the Centre to find a solution to the AGR issue, with CEO Akshaya Moondra stating he sees no reason why the government should be constrained in any way to offer relief.
During VIL's investor call post-Q4 and FY25 earnings, Moondra said the Average Revenue Per User (ARPU) in India is the lowest globally and that the industry's returns are below the cost of capital.
The VIL top boss stressed that the industry needs to move towards a pricing model where heavy data users contribute more proportionally to their higher usage than the current pricing structure -- where incremental data usage comes at an extremely low, unsustainable price.
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The small car segment, which had once dominated the Indian total passenger vehicle market, accounts for less than 30% at present.
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