Stocks to watch: Aether Industries, UltraTech Cement, ITC, Delhivery, HDFC, Hindalco in focus on 3 June 2022

Analysts say markets are likely to remain in a broader range as it continue to monitor global cues including geo-political developments, crude oil price movement as well as institutional flows

stocks to watch, Aether Industries, UltraTech Cement, ITC, Delhivery, HDFC, Hindalco
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Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a huge gap-up start on Friday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 184 points or 1.11 per cent higher at 16,794 on Singaporean Exchange. In the previous session, BSE Sensex closed 437 points or 0.79% higher at 55,818, while the NSE Nifty 50 index settled at 16,628, up 105 points or 0.64%. “Markets are likely to remain in a broader range as we continue to monitor global cues including geo-political developments, crude oil price movement as well as institutional flows,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.

Stocks to watch

Aether Industries: Aether Industries shares will debut on stock exchanges today. Analysts expect Aether Industries to list at a single-digit premium over the issue price following a good response to the IPO.

UltraTech Cement: UltraTech Cement, India’s largest cement producer, on Thursday announced plans to invest Rs 12,886 crore to increase its production capacity by 22.6 million tonnes per annum (MTPA) through a mix of brownfield and greenfield expansion.

ITC: ITC Infotech on Thursday said it has paid an amount of USD 33 million (around Rs 256 crore) to PTC as part of an agreement to acquire a substantial portion of the American company’s product lifecycle management implementation services.

Delhivery: Credit Suisse has initiated coverage on Delhivery with an outperform rating and a target price of Rs 675 on the back of favourable industry structure, structural growth in e-commerce volumes and strong moat, among other factors.

HDFC: Housing Development Finance Corporation said it has collaborated with Accenture to digitally transform its lending business. The transformation exercise is aimed at making the mortgage financier’s lending lifecycle paper-less and nimble.

Hindalco Industries: Hindalco Industries completed divestment process for subsidiary as the company has completed the divestment process for Hindalco Do Brazil Industria Comercia de Alumina LTDA.

MTAR Technologies: The company has entered into a share purchase agreement with sellers and GEE PEE Aerospace & Defence for acquisition of 100 per cent stake in GEE PEE Aerospace & Defence.

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