Stocks to watch, June 21: Nestle India, Medplus, Bajaj Consumer Care
Stocks to watch on June 21: Indian markets may start with slight gains on Friday, driven by mixed performance in Asian markets.
As of 7:12 a.m., Japan’s Nikkei was trading 0.11 percent higher after the release of May inflation data, which showed headline inflation at 2.8 percent, up from 2.5 percent in April. However, core inflation in Japan, excluding food prices, was lower than expected, at 2.5 percent.
In contrast, Korea’s Kospi fell 0.85 percent, and Australia’s ASX200 saw a small decline of 0.10 percent.
In Europe, markets closed higher last session after the Bank of England kept interest rates at a 16-year high of 5.25 percent, as widely expected.
The British FTSE rose 0.82 percent, while the German DAX rose 1.03 percent.
At home, investors will keep their eyes on the manufacturing and services data, which is expected to be released at 10:30 am.
Given these developments, here are some stocks to watch for June 21:
Nestlé India: The board will meet on July 8 to announce an interim dividend for the 2024-2025 financial year. The registration date for eligibility is set for July 16.
Medplus: Optival Health Solutions Private Limited, a subsidiary of Medplus, faced a one-day suspension of drug license for a store in Sarjapura, Karnataka, potentially impacting revenue by Rs 1.39 lakhs.
Indiabulls real estate: The company has officially changed its name to ‘Equinox India Developments Limited’ with effect from June 20.
Bajaj Consumer Care: The board has set July 2 as the record date for identifying equity shareholders eligible for the buyback.
Dhanlaxmi Sofa: Ajith Kumar KK has been appointed Managing Director & CEO for a term of three years with effect from June 20.
Pipe investments: TL Clean Mobility Private Limited, a subsidiary, has allotted 3.1 crore Series A3 Mandatorily Convertible Preference Shares and 50 Ordinary Shares to Luxembourg Specialist Investment Fund FCP-RAIF.
Insurance companies: Insurance companies cannot advertise unit-linked or index-linked products as investment products, says IRDAI.
Persistent systems: The company has recommended a dividend of Rs 10 per equity share for the financial year 2023-2024.
First print: June 21, 2024 | 7:34 am IST