IEX, Hindustan Aeronautics, Bajaj Auto, Hero MotoCorp, PTC Industries, and Tata Power among top stocks to watch
Stocks to watch: Bajaj Auto, Hero MotoCorp, and TVS Motor Company are expected to be in focus today as brokerage JP Morgan has maintained an 'overweight' rating on these stocks and has also raised their target prices.
Stocks to watch: Domestic equities are likely to see a strong opening on Friday. At 8:33 am, the Nifty futures on the Singapore Exchange (SGX) traded 35.5 points, or 0.19 per cent higher at 18,756 levels. Besides, Asia-Pacific equities rose to their highest level since mid-February on Friday, taking cues from an overnight Wall Street rally as market bets firmed for the Federal Reserve to skip a rate hike next week.
Let's take a look at the top stocks that may trade actively today:
Tata Power: The company's renewable energy arm has received a letter of award (LOA) to set up 966 MW of RTC (round-the-clock) hybrid renewable power for Tata Steel.
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Hindustan Aeronautics: The company will hold a board meeting on June 27 to consider a stock split.
Bajaj Auto, Hero MotoCorp, and TVS Motor Company are expected to be in focus today as brokerage JP Morgan has maintained an 'overweight' rating on these stocks and has also raised their target prices.
Bajaj Auto: Maintain Overweight, Target raised to Rs 5380 from Rs 5150
Hero Moto: Maintain Overweight, Target raised to Rs 3315 from Rs 3120
TVS Motor: Maintain Overweight, Target raised to Rs 1400 from Rs 1330
PTC Industries shares will be listed on NSE today. The scrip is already listed on the BSE.
Indian Energy Exchange: Antique Stock Broking has double-downgraded the stock to "sell" from "hold," and the target price has been cut to Rs 105 vs. Rs 138. Axis Securities has downgraded it to sell from buy with a target price of Rs 111 vs. Rs 180 earlier. The stock ended over 8 per cent lower yesterday.
Kotak Mahindra Bank: As per reports, the Canada Pension Fund will sell a 1.66 per cent stake in the private sector lender. The Canada Pension Fund holds 4.3 per cent equity in Kotak Mahindra Bank. The fund’s 1.66 per cent stake is valued at $754 million, the reports added.
Snowman Logistics: The company's promoter Gateway Distriparks has bought 14 lakh shares or 0.84 per cent stake at Rs 43.32 per share. Yesterday, too, the promoter bought 11 lakh (0.65 per cent) shares at Rs 40.02 apiece. In the past 2 days, the promoter has bought 25 lakh shares. (1.50 per cent).
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