Overnight Digest: Stocks likely to be in focus on June 30

Shreya Chaware
/ Categories: Trending, Mindshare
Overnight Digest: Stocks likely to be in focus on June 30

Sectorally, BSE Power index proved to be a strong player, gaining 1.63 per cent whereas banking, FMCG, and IT indices plunged beyond a per cent each

On Wednesday, the benchmark indices opened with a decent loss and throughout the session, BSE Sensex sought support from Reliance Industries, Bharti Airtel, ITC, and NTPC and settled 150 points lower. 

Meanwhile, Nifty 50 index closed at a level of 15,799, slipping 51 points or 0.32 per cent.

Sectorally, BSE Power index proved to be a strong player, gaining 1.63 per cent whereas banking, FMCG, and IT indices plunged beyond a per cent each. In the broader markets, BSE Smallcap index settled in red while BSE Midcap index fell 0.7 per cent. 

Keep an eye on these stocks for Thursday's trading session: 

Route Mobile - The shares of Route Mobile fell up to 7 per cent during Wednesday's trading session and 10 per cent during the previous two trading sessions after its board approved the buyback of shares. The board of directors of the company at its meeting on June 28 approved the buyback at a price of up to Rs 1,700 per share for an aggregate amount of up to Rs 120 crore. The maximum number of shares bought back would be 7,05,882, which is 1.12 per cent of the total number of paid-up shares of the company.  

Hindalco IndustriesHindalco Industries has, pursuant to the approval granted by the board of directors at its meeting held on May 26, 2022, consented to make an investment in the equity share capital of Cleanwin Energy SIX LLP. The company is going to acquire 26 per cent of the equity share capital of Cleanwin Energy SIX LLP at Rs 71,50,000. Reacting to the news, the shares of Hindalco Industries gained up to 3.14 per cent during the first half of Wednesday's trading session.  

Tejas Networks - Renesas Electronics Corporation, a Japanese premier supplier of advanced semiconductor solutions, announced a strategic partnership with Tata Motors and Tejas Networks, both Tata Group companies, on the design, development & manufacturing of Renesas’ semiconductor solutions for enhancing innovation across electronics systems for the Indian as well as emerging markets. Reacting to the same, the shares of Tejas Networks jumped more than 8 per cent on Wednesday in an otherwise weak market.

Shalimar Paints - The shares of Shalimar Paints zoomed 7 per cent to Rs 158.85 on BSE during Wednesday's trading session, gaining 32 per cent in the past one week in the hopes of improvement in margins. The stock was seen trading close to its 52-week high level of Rs 163.50 per share. Trading volumes for this stock jumped over threefold on Wednesday as a combined 7,65,000 equity shares changed hands on NSE and BSE in the first half of the trading session. 

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