As of 8 am on Friday (July 5), the GIFT Nifty index was down 82.5 points, or 0.34 per cent, at 24,336, suggesting a negative start for the Indian stock market on the week’s final trading day. The India VIX, a measure of market volatility, decreased by 2.65 per cent to 12.86.
The US stock market was closed on Thursday (July 4) for the Independence Day holiday. Meanwhile, Asian markets reached new highs on Friday as investors speculated on US interest rate cuts in September, creating an upbeat mood.
Ahead of the Indian market opening, several stocks are poised for attention:
Raymond: Raymond Limited announced on Thursday the vertical demerger of its Real Estate Business into its wholly-owned subsidiary, Raymond Realty Limited (RRL). Post-demerger, Raymond Ltd and Raymond Realty Limited will function as separate listed entities within the Raymond Group.
RailTel: RailTel Corporation of India Ltd. received an order from Webel Technology Limited valued at Rs 23.96 crore for upgrading and enhancing IT & Non-IT infrastructure at the West Bengal State Data Center in Monibhandar.
IRCON: Ircon International has been awarded a Letter of Acceptance (LOA) for a project from Rail Vikas Nigam Ltd (RVNL) worth Rs 750 crore. The project is a joint venture with Paras Railtech Private and PCM Strescon Overseas Ventures.
Solar Industries: Solar Industries India Limited has acquired a majority stake in Problast BS, South Africa, through its subsidiary, Solar Mining Services. Problast has been recognised as a leading blasting solution provider in South Africa since 2016.
Coforge: Coforge has acquired 3,021,293 equity shares, representing 11.07 per cent of the current paid-up share capital of Cigniti Technologies. This transaction is expected to enhance Coforge’s revenue distribution across various industry verticals and geographies.
Nazara Tech: Nazara Technologies has established a wholly owned subsidiary, Nazara US Inc., in Delaware. This incorporation aligns with the company’s strategic goals to expand its gaming business in the US.
United Spirits: On July 4, 2024, United Spirits entered into a leased manufacturing agreement in West Bengal with Transways Exim Private Limited, which has sub-leased a production capacity of 216 lakhs BL per annum for IMFL operations, increasing bottling capacity to meet market demand.
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Stocks to watch: RailTel, IRCON, Raymond, Coforge, Nazara Tech, and United Spirits shares in focus
