GIFT Nifty Jumps Over 150 Points: Here Are Stocks To Watch Today

Stocks To Watch Today, July 3: The Indian stock market is set for a strong start on Friday, July 3, with the GIFT Nifty trading 157 points, or 0.65%, higher at 24,414.5 around 7:45 am, indicating a positive opening for benchmark indices.

Investor sentiment is being supported by easing crude oil prices, improving global cues and a series of upbeat business updates from banks, NBFCs and consumer-focused companies. Several companies also announced acquisitions, strategic partnerships, fund-raising plans and key management changes, keeping them in focus during today’s trade.

After Thursday’s rally, the momentum is likely to continue as GIFT Nifty points to a gap-up opening. On Thursday, the Sensex climbed 579 points to close at 77,502.12, while the Nifty50

gained 169.85 points to settle at 24,175.70, helped by gains in IT and other heavyweight stocks.

Banking stocks remain in focus after strong Q1 business updates

Banks are expected to attract significant attention after reporting healthy business growth for the June quarter.

Union Bank of India reported a 7.5% rise in global business to nearly Rs 23.8 lakh crore. Global advances increased 12.5%, while domestic advances grew over 13%. CASA deposits also recorded double-digit growth.

Punjab National Bank (PNB) posted strong business growth, with global business nearing Rs 30 lakh crore. Global advances rose almost 13%, while deposits expanded over 8%.

Central Bank of India delivered one of the strongest updates among PSU lenders. Total business increased more than 18%, while gross advances surged nearly 29%. Deposits and CASA balances also recorded healthy growth.

UCO Bank reported a 15.5% rise in total business, supported by over 21% growth in advances.

Among private lenders, CSB Bank registered 26% growth in deposits and 24% growth in gross advances.

Equitas Small Finance Bank reported robust loan growth of nearly 27%, although its CASA ratio declined to 25% from 29% a year ago.

Ujjivan Small Finance Bank also impressed the Street with 29% growth in its gross loan book, 25% growth in deposits and a decline in gross NPA to 2.17%.

Financial companies post healthy quarterly performance

M&M Financial Services estimated a 21% increase in disbursements during the quarter, while business assets rose around 12%. The company also expects further improvement in asset quality, with both Stage-2 and Stage-3 assets declining.

Consumer and retail companies report healthy growth

Avenue Supermarts (DMart) reported a 15.1% increase in standalone revenue to Rs 18,343 crore during the quarter. The retailer expanded its store network to 503 outlets by the end of June.

Marico said its India business delivered double-digit underlying volume growth, supported by strong demand for Parachute coconut oil. The company expects operating margins to improve as copra prices have corrected sharply from peak levels.

PC Jeweller reported a 21% increase in quarterly revenue while reducing its outstanding debt by 24%.

Metal and auto companies to remain on investors’ radar

Hindustan Zinc reported higher production across most segments during the quarter. Refined zinc production increased 6%, while saleable metal output rose 4%.

Tata Motors may remain under pressure after Jaguar Land Rover (JLR) reported a decline in both wholesale and retail sales during the quarter.

Deals, acquisitions and strategic announcements

Several companies announced major corporate developments that could influence stock-specific action.

Adani Enterprises partnered with International Resources Holding (IRH) to develop an $11.5 billion integrated aluminium project in Odisha through a 50:50 joint venture. The company also opened its Qualified Institutional Placement (QIP) issue.

Bharat Petroleum Corporation Ltd (BPCL) acquired the remaining stake in IBV Brasil Petroleo, strengthening its overseas oil and gas portfolio.

Titagarh Rail Systems entered into a strategic collaboration with TuTr Hyperloop to develop Hyperloop-enabled freight transportation technology.

BLS E-Services acquired Atyati Technologies for Rs 157 crore to expand its AI-led banking technology offerings.

Sterlite Technologies raised Rs 1,500 crore through a Qualified Institutional Placement (QIP), attracting participation from several domestic and global institutional investors.

Jammu & Kashmir Bank signed corporate agency agreements with SBI Life Insurance and HDFC Life to distribute insurance products through its branch network.

PB Fintech, Ramco Systems among key stocks

PB Fintech, the parent of Policybazaar, could remain active after reports suggested Temasek’s subsidiary Macritchie Investments plans to sell a 2.6% stake through block deals worth around Rs 1,900 crore.

Ramco Systems announced the appointment of Raghuveer Sandesh Bilagi as its new Chief Executive Officer with effect from July 2.

Coal India and LG Electronics India in focus

Coal India reported a 5.9% increase in coal supplies to power plants during June, driven by higher electricity demand.

LG Electronics India received a major relief after GST authorities dropped a proposed tax demand of Rs 116.72 crore related to alleged excess input tax credit claims for FY22.

Bulk deals to watch

AWL Agri Business witnessed notable institutional activity. ICICI Prudential Mutual Fund increased its stake by purchasing 1.3 crore shares, while AustralianSuper exited part of its holding through the sale of 1.65 crore shares.

Cantabil Retail India also saw stake sales, with Think India Opportunities Master Fund reducing its holding.

Stocks trading ex-dividend today

Several stocks will trade ex-dividend today, including Mahindra & Mahindra, Shriram Finance, Union Bank of India, Tech Mahindra, Thermax, Bharat Forge, Biocon, Escorts Kubota, Exide Industries, Max Healthcare Institute, Raymond Realty, Redington, and Welspun Enterprises.

Meanwhile, TeamLease Services and Rolex Rings will trade ex-date for their respective buyback offers.

Global markets

Asian markets traded mixed on Friday as investors assessed weaker-than-expected US employment data, which reinforced expectations that the US Federal Reserve could move towards interest rate cuts in the coming months.

Japan’s Nikkei slipped, while broader Asian indices traded in a narrow range. US futures were marginally higher, indicating cautious optimism ahead of the Indian market opening.