Stocks to Watch, July 5, 2024: Key Insights for Competitive Exam Aspirants

Historical Context: Understanding the historical context of the Indian stock market and its global counterparts is crucial for competitive exam aspirants. The Indian stock market has evolved significantly since its inception in the 19th century, with the Bombay Stock Exchange (BSE) being one of the oldest in Asia. The market has seen various phases, including the liberalization era of the 1990s, which opened up the economy to foreign investments, and the digital transformation in the 21st century, which has made trading more accessible. Global markets like Nikkei (Japan) and Kospi (South Korea) also play a significant role in influencing Indian markets due to globalization and interconnected economies.

Market Overview: On Friday, July 5, 2024, Indian equity benchmark indices are expected to consolidate due to a lack of significant market-moving triggers. As of 7:50 AM, GIFT Nifty was down by 26 points, standing at 24,352 levels.

Global Market Performance:

• Nikkei (Japan): Reached an all-time high of 41,100 in intraday trade, up by 0.13%.
• Kospi (South Korea): Increased by 0.9%.
• Chinese and Australian Markets: Both were in the red zone.
• Wall Street: Closed on Thursday.

Stocks to Watch:

1. HDFC Bank:

   • Gross advances as of June 30 stood at Rs 24.87 trillion, down 0.8% from March 31.
   • Year-on-year (Y-o-Y) advances grew by 14.9%, excluding the merger impact.
   • Deposits were Rs 23.79 trillion, almost flat compared to the previous quarter, with a 16.5% Y-o-Y growth.

2. Bajaj Auto:

   • Set to launch the world’s first CNG bike, likely named Freedom 125, with flexible fuel options.

3. Raymond:

   • The Board approved a scheme of arrangement between Raymond Ltd and Raymond Realty Ltd.
   • Shareholders will receive one share of Raymond Realty for each share held in Raymond Ltd.
   • Raymond Realty shares will be listed separately on BSE and NSE.

4. IDFC First Bank:

   • Raised Rs 3,200 crore by selling over 396.8 million shares at Rs 80.63 per share to six insurance companies, including LIC and HDFC Life.

5. RBL Bank:

   • Total deposits increased by 18% Y-o-Y to Rs 1.01 trillion.
   • Advances grew by 18% Y-o-Y to Rs 88,455 crore.
   • Retail advances grew by 31% Y-o-Y, while wholesale advances grew by 2% Y-o-Y.
   • CASA deposits were up by 3% to Rs 32,996 crore, with a CASA ratio of 32.6%.

6. Nazara Technologies:

   • Incorporated a wholly-owned subsidiary named ‘Nazara US Inc’ in Delaware, USA.

7. VST Industries:

   • Radhakishan Damani increased his stake to 3.47% from 1.95% in the previous quarter.

8. BGR Energy:

   • The Board approved a rights issue to raise Rs 1,000 crore.

9. Krsnaa Diagnostics:

   • Awarded a tender by the Bhabha Atomic Research Centre for providing Tele Reporting Services for Radiology at BARC Hospital, Mumbai.

Summary in Bullet Points:

• Indian equity indices expected to consolidate due to lack of market-moving triggers.
• GIFT Nifty down by 26 points at 24,352 levels.
• Nikkei hits an all-time high; Kospi up; Chinese and Australian markets in the red.
• Wall Street closed on Thursday.
• HDFC Bank: Gross advances down 0.8% sequentially; deposits almost flat.
• Bajaj Auto: Launching the world’s first CNG bike, likely named Freedom 125.
• Raymond: Approved scheme of arrangement with Raymond Realty; shares to be listed separately.
• IDFC First Bank: Raised Rs 3,200 crore by selling shares to six insurance companies.
• RBL Bank: Total deposits and advances grew by 18% Y-o-Y.
• Nazara Technologies: Incorporated a subsidiary in Delaware, USA.
• VST Industries: Radhakishan Damani increased his stake to 3.47%.
• BGR Energy: Approved rights issue to raise Rs 1,000 crore.
• Krsnaa Diagnostics: Awarded tender by BARC for Tele Reporting Services.