Stocks to Watch Today, July 3: Indian equities are likely to see stock-specific action on Friday as investors react to a series of quarterly business updates and corporate developments.
Financial stocks including Bajaj Finance, Union Bank, Central Bank of India and Punjab National Bank reported healthy business growth for the June quarter, while companies such as Tata Power, Maruti Suzuki, Tata Steel, Titagarh Rail, BPCL and Coal India announced key operational and strategic developments.
Here’s the list of stocks to watch in today’s trading session:
Strong Customer and Loan Growth
Bajaj Finance reported Q1 momentum with customer franchise reaching 12.44 crore, adding 51 lakh customers year-on-year. New loans booked rose 20 per cent to 1.61 crore.
Steady Business Expansion
Union Bank of India posted growth, with total global business rising 7.47 per cent to Rs 23.79 lakh crore. Global deposits increased 3.5 per cent to Rs 12.83 lakh crore.
Healthy Deposit Growth
Central Bank of India reported deposits climbing 11.66 per cent to Rs 4.78 lakh crore. Total business expanded 18.36 per cent to Rs 8.33 lakh crore.
Business Growth Continues
Punjab National Bank saw global business increase 10.32 per cent to Rs 29.99 lakh crore. Domestic business rose 9.91 per cent to Rs 28.75 lakh crore.
Production Remains Strong
Hindustan Zinc recorded mined metal production rising 1 per cent to 2.68 lakh tonnes. Saleable metal output increased 4 per cent to 2.60 lakh tonnes.
Revenue Up, Debt Down
PC Jeweller reported 21 per cent year-on-year revenue growth and reduced outstanding debt by 24 per cent.
Punjab Solar Expansion
Tata Power Solaroof launched a campaign to install rooftop solar systems with battery storage across one lakh households in Punjab over three years.
New Plant Inaugurated
Maruti Suzuki’s fourth manufacturing facility at Kharkhoda, Haryana, was inaugurated by Prime Minister Narendra Modi and Japanese counterpart Sanae Takaichi.
Netherlands Transition Plan
Tata Steel is in discussion with the Dutch government on its Netherlands transition project to meet stricter emission norms.
Titagarh Rail
Hyperloop Freight Collaboration
Titagarh Rail Systems partnered with IIT Madras-incubated TuTr Hyperloop to develop India’s first hyperloop-enabled freight mobility solutions.
BPCL
Full Ownership of Brazil Venture
BPCL acquired Videocon’s remaining stake in IBV Brasil Petroleo Ltda, gaining complete ownership of the Brazilian joint venture.
Higher Power Sector Supplies
Coal India increased coal supplies to the power sector by 5.9 per cent to 51.44 million tonnes in June.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
