GIFT Nifty suggests a positive start for the Indian stock markets today, with BSE Sensex and NSE Nifty 50 poised for gains. GIFT Nifty traded up by 82.50 points or 0.35 per cent, reaching 23,451.50, indicating a favorable opening for the domestic indices.

Stock Market Today: Indian Indices Previous Performance

On Wednesday, NSE Nifty 50 gained 58.10 points or 0.25 per cent, closing at 23,322.95. Meanwhile, BSE Sensex rose by 149.98 points or 0.20 per cent, ending the day at 76,606.57.

Stocks To Watch Today, June 13

Here are some key stocks to watch today, including major moves from L&T Finance, Nestle, Sobha, Whirlpool, Torrent Pharma, Dr. Reddy’s Laboratories, Saksoft, PTC India Financial Services, Exide Industries, and Gensol Engineering.

Exide Industries

Exide Industries has invested an additional Rs 75 crore in its wholly-owned subsidiary, Exide Energy Solutions, through a rights issue. This brings Exide Industries’ total investment in the subsidiary to Rs 2,452.24 crore.

L&T Finance

Private equity firm Bain Capital is set to exit its 3.54 per cent stake in L&T Finance Holdings. Bain Capital, through its affiliates BC Asia Investment VI and BC Asia Growth Investment, will sell approximately 88.2 million shares at a floor price of Rs 169.17 per share.

Torrent Pharma

Torrent Pharmaceuticals reported that the USFDA conducted inspections at its Indrad facility from June 3 to June 12, 2024. Following the inspection, the company received a form 483 with five observations, none of which relate to data integrity.

Gensol Engineering

Gensol Engineering has won a bid for a 250 MW/500 MWh battery energy storage system project from Gujarat Urja Vikas Nigam Ltd (GUVNL). This project aims to supply on-demand electricity to Gujarat’s distribution companies during peak and off-peak hours.

Nestle

FMCG giant Nestle announced it will continue paying royalties to its parent company at the current rate of 4.5 per cent of net sales. This decision follows the rejection of a proposal to increase the rate by shareholders. The company’s board approved the continuation of this payment to Société des Produits Nestlé S.A.

Sobha

Realty company Sobha plans to raise Rs 2,000 crore through a rights issue of shares. They will issue 1.21 crore rights equity shares on a partly-paid basis, which, assuming full subscription and payment, will bring in Rs 2,000 crore.

Whirlpool

Appliance maker Whirlpool and Hindustan Unilever have formed a new marketing alliance for the laundry brand Surf Excel. The two brands will engage in joint marketing initiatives.

Dr. Reddy’s Laboratories

The pharmaceutical giant announced that its wholly-owned subsidiary in the USA has entered into a license agreement with Ingenus Pharma. This agreement gives Dr. Reddy’s USA exclusive rights to commercialize Cyclophosphamide Injection RTD.

PTC India Financial Services

SEBI has fined Pawan Singh, former MD & CEO of the company, Rs 25 lakh and barred him from holding a director’s position in a listed company for two years. Rajib Kumar Mishra was also fined Rs 10 lakh and barred from director positions for six months.

Saksoft

Saksoft has announced plans to acquire 100 per cent equity in Augmento Labs. The acquisition, valued at Rs 100 crore, includes an upfront cash payment of Rs 35 crore, with the remaining amount based on performance over two financial years.