Stocks To Watch on 6 July: Adani Wilmar, IOC, JSW Steel, Hindustan Zinc, Marico, Tata Power, SAIL

Markets 8 2.webp


Stocks in focus: The GIFT Nifty recorded a 0.22% loss during Thursday’s early trading session, with a value of 19,470 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex. On Wednesday, benchmark Indian equity indices Nifty and Sensex ended mixed but flat amid volatility. Nifty 50 hit a fresh all-time high above 19,400 but pared its gains to settle 0.05% higher, while Sensex ended lower by 0.05% at 65,446.04. 

“Global worries along with moderation in Service PMI data briefly impacted the domestic market’s rally. Heightened trade tensions between the US and China, coupled with uncertainties surrounding the upcoming release of FOMC minutes, tested the risk appetite of global investors. However, the market’s last-minute broad based recovery serves as a reaffirmation of investors’ confidence in the Indian economy,” said Vinod Nair, Head of Research at Geojit Financial Services.

Stocks to Watch on 6 July, 2023

Adani Wilmar

India’s Adani Wilmar said on Wednesday that first-quarter sales had slumped 15% as a sharp fall in edible oil prices eclipsed strong demand for its food products. Sales in its food and fast moving consumer goods segment grew 30% on strong demand, but overall sales dragged.


Indian Oil Corporation (IOC), the nation’s top oil firm, plans to raise capital through rights issue of equity shares as part of a government’s plan to infuse capital into three state-owned fuel retailers to fund their net zero carbon emission projects.

JSW Steel

JSW Steel will replace HDFC in the BSE Sensex index from 13 July, as HDFC shares will be delisted, following its merger with HDFC Bank. 

Hindustan Zinc

Hindustan Zinc’s board of directors will meet on 8 July to discuss the interim dividend for the fiscal year 2024. The record date, if any dividend is declared, will be 15 July. 

Deepak Fertilisers

Performance Chemiserve, a step down subsidiary of Deepak Fertilisers and Petrochemicals Corporation, issued 90,000 NCDs (non-convertible debentures) with a face value of Rs 1 lakh, on a private placement basis. The aggregate amount totals Rs 900 crore. 


Marico’s Q1FY24 performance lagged on account of narrowing price growth and weak volumes. Consolidated revenue fell to low-single-digits, while domestic volumes also grew in low-single-digits. However, the company is optimistic about their international business, as a high-single-digit constant currency growth is expected.

Tata Power

Tata Power received an order worth Rs 1,744 crore to implement the smart metering project in Chhattisgarh State Power Distribution Company. The estimated time for the completion of the project is about 10 years. 


Steel Authority of India said that it has achieved record-breaking performance in the first quarter of FY 2023-24 in terms of production and sales. The company reported a growth of 8% on-year in its crude steel production at 4.667 MT during the Q1FY24, and saleable steel witnessed a growth of 8% at 4.405 MT during the same period. 


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