Neeraj Joshi

Global market today

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Stocks to watch- RVNL: The construction arm of the Ministry of Railways received a LoA from Central Railways for a Rs 133 crore project in Maharashtra. Piramal Pharma: The US FDA pre-approval was inspected at the Ahmedabad facility and closed with zero observations. Lupin: The US FDA inspection at the Dabhasa manufacturing facility in Gujarat ended with no observations and received an Establishment Inspection Report with the 'No Action Indicated' classification. EMS: The company headquartered in Delhi received an LOA worth Rs 140 crore from Uttarakhand Power Corporation to supply installation services contracts for the execution of distribution infrastructure development. Apollo Micro Systems: The company received the Make II project from the Indian Army for the supply of a vehicle-mounted counter-swarm drone system. GTPL: The aerospace and defence company received the I&B Ministry's nod for providing headend-in-the-sky (HITS) services. Central Bank of India: The bank is in a co-lending partnership with Shriram Housing Finance to offer MSME loans and a co-lending partnership with Arka Fincap to offer MSME loans. Alembic Pharmaceuticals: The pharmaceutical company received tentative US FDA approval for Selexipag injection. General Insurance Corporation of India: Radhika CS takes charge as Executive Director effective today.

Global market today

Good morning

Global market today

Good morning

Stocks to watch- Nykaa: Nykaa expects its revenue growth to be around 22-23% year-on-year in the first quarter. GMV (Gross merchandise value) growth for the quarter is seen to be in mid- twenties. NLC India: NLC India has secured the rights to develop the Machhakata coal mine in Angul, Odisha, marking its success in acquiring the second commercial coal mine block in the state. The mine boasts a total coal reserve of 1,377 million tonnes and a peak rated capacity of 30 million tonnes per annum. Induslnd Bank: Induslnd Bank's Q1FY25 estimates highlighted significant Y-o-Y growth. Net advances increased by 16 per cent Y-o-Y to Rs 3.48 trillion, while deposits grew by 15 per cent Y-o-Y to Rs 3.98 tillion. However, the CASA ratio dropped to 36.7 per cent Y-o-Y from 39.9 per cent Y-o-Y. Bank of Baroda: Bank of Baroda's global business expanded by 8.52 per cent Y-o-Y to Rs 23.77 lakh crore in Q1, with global advances rising by 8.14 per cent Y-o-Y to Rs 10.72 lakh crore. Global deposits increased by 8.83 per cent Y-o-Y to Rs 13.06 lakh crore, while domestic deposits grew by 5.25 per cent Y-o-Y to Rs 11.05 lakh crore. Domestic advances also saw healthy growth of 8.51 per cent Y-o-Y, amounting to Rs 8.81 lakh crore. The bank's board has also approved plans to raise additional capital up to Rs 7,500 crore via debt capital instruments. Additionally, the bank aims to raise up to Rs 10,000 crore through long-term bonds to finance infrastructure and affordable housing projects. Bandhan Bank: Bandhan Bank's board has appointed Ratan Kumar Kesh as Interim MD & CEO, effective July 10, for a term of three months or until a new MD & CEO is appointed, whichever is earlier. Currently, Kesh serves as the Executive Director & Chief Operating Officer of the bank. JM Financial: JM Financial's board has approved the acquisition of a 42.99 per cent stake in JM Financial Credit Solutions (JMFCSL) for Rs 1,282 crore. Additionally, JM Financial Credit Solutions will acquire a 71.79 per cent stake in JM Financial Asset Reconstruction Company (JMFARC) from JM Financial for Rs 856 crore.

Global market today

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