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Indian stock markets are likely to track stock-specific developments on Wednesday, June 10. Investors will also watch the release of May mutual fund industry data by the Association of Mutual Funds in India (AMFI) and the Union Cabinet meeting scheduled later in the day.
Here are the stocks that could remain in focus:
Shares of NLC India may remain in focus as the company's offer for sale (OFS) opens for retail investors on Wednesday.
The government is selling shares at a floor price of Rs 303 per share. The retail portion includes 27.73 lakh shares. The government will also use the oversubscription option to sell an additional 1 per cent stake through 13.86 lakh shares.
The non-retail portion of the OFS received strong investor interest and was subscribed 522 per cent.
Infosys shares will be in focus as the stock turns ex-dividend on Wednesday.
The company has fixed June 10 as the ex-date for its final dividend of Rs 25 per share. Investors who purchased shares before the ex-date will be eligible to receive the dividend, subject to applicable rules.
Tata Elxsi will also trade ex-dividend on June 10.
The company has announced a final dividend of Rs 75 per share. The stock may see activity as it adjusts for the dividend payout.
Shares of Indian Bank will be watched as the stock becomes ex-dividend for its final dividend of Rs 18.25 per share.
Investors tracking dividend-paying stocks may keep the counter on their radar during the session.
Patanjali Foods may remain under pressure after the company received a notice from the Maharashtra Food and Drug Administration (FDA).
The notice relates to alleged misleading claims associated with "Patanjali Karela Jamun Juice". The regulator has directed the company to stop distribution, sale and supply of the product and has sought clarification within 15 days regarding the claims mentioned on the label.
Afcons Infrastructure announced that it has secured an order worth around Rs 5,300 crore.
The contract is for the construction of a breakwater project at Vadhavan Port. The order is expected to strengthen the company's order book and execution pipeline.
HCL Technologies may remain in focus after launching a Cybersecurity Fusion Centre in Canada.
The company said the centre will help organisations protect themselves against threats in increasingly complex digital environments and strengthen cybersecurity capabilities.
Bharti Hexacom shares could see action after a favourable court ruling.
The Bombay High Court has set aside the Department of Telecommunications' demand of around Rs 473.7 crore related to one-time spectrum charges (OTSC). The development may provide relief to the telecom operator.
Dixon Technologies announced an agreement with Gemtek Technology Co. and Dixon Electroconnect for a proposed joint venture company in India.
The proposed venture is expected to support manufacturing and technology capabilities in the electronics segment and could be closely tracked by investors.
Quality Power has completed the acquisition of a 100 per cent stake in Winwin Speciality for around Rs 315 crore.
Winwin Speciality manufactures high-voltage ceramic insulators. The acquisition is expected to strengthen Quality Power's product portfolio and presence in the power equipment segment.
Vedanta may remain on investors' radar after receiving approval from the Ministry of Corporate Affairs for a name change of one of its entities.
The ministry has approved the change of name from Malco Energy to Vedanta Oil Gas.
Glenmark Pharmaceuticals will be in focus after sharing its growth and profitability targets in its latest investor presentation.
The company is targeting revenue growth of 13-15 per cent and an EBITDA margin of 23 per cent by FY27. It also plans to file one Investigational New Drug (IND) application every year and invest around USD 70 million annually to support its research and development pipeline.
IDBI Bank may also attract attention after sources indicated that the government's divestment process remains on track.
Investors will continue to monitor developments related to the proposed stake sale and strategic disinvestment process.
Apart from company-specific developments, market participants will keep an eye on the May AMFI data for signals on mutual fund inflows and retail participation trends. The outcome of the Union Cabinet meeting may also influence sentiment in select sectors during the trading session.