Stocks to watch on July 6: Reliance Industries, Varroc Engineering, Muthoot Finance


Indian shares are likely to open lower on Friday, in line with the trend in the Asian equities, amidst caution ahead of a US deadline to impose tariffs on Chinese imports later in the day.

On Thursday, the Sensex snapped its two-day winning streak to end 71 points lower at 35,574.55 while the 50-share Nifty fell 20.15 points to end at 10,749.75.

Here are the top stocks to watch out for in today’s session:

Reliance Industries: RIL’s share price opened in green at Rs 998.7 apiece yesterday, ahead of the 41st AGM of the oil-to-telecom conglomerate.It surged to a high at Rs 1,008.5 per share as the AGM progressed but finally closed Rs 965 apiece, an intra-day fall of 2.57 percent.

Apollo Hospital: The company has bought 50 percent stake in Medics International Lifesciences, a 330-bed super-speciality hospital in Lucknow, for Rs 91 crore.

Muthoot Finance: Muthoot Money has obtained the mandatory approval from the RBI for change in management/control through acquisition of shares /capital infusion by Muthoot Finance (MFIN) vide Reserve Bank of India letter dated July 3.

Infosys: The IT company’s shares fell as much as 5.73 percent on Thursday to Rs 1268.1, its biggest daily percent loss since April 16, dragging the Nifty index.

Berger Paints: The chemical company has signed a shareholders’ agreement with Rock Paint Co for the purpose of setting up of a joint venture company in India by the name of ‘Berger Rock Paints Private Limited’.

Shriram Transport Finance: According to Abhimanyu Sofat, Vice President-Research, IIFL, the company is a good buying opportunity after the firm said its unlisted entity SVL would honour debenture repayment obligations.

India Infoline Finance: The company has raised Rs 325 crore from CDC Group (A UK Govt-owned development finance institution) via rupee denominated Tier II bonds, Moneycontrol reported.

Varroc Engineering: The auto component maker will make its stock market debut on Friday after a successful initial public offer that closed last week. The company’s Rs 1,955-crore IPO was subscribed 3.6 times during June 26-28. Price band for the offer was fixed at Rs 965-967 per share.

Den Networks, Hathway Cable, Siti Networks: Shares of all the three broadband service providers are likely to be in focus following Thursday’s declines. The stocks fell after Reliance Industries chairman Mukesh Ambani unveiled an ultra high-speed fixed line fibre broadband for homes and enterprises across 1,100 cities on Thursday.



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