TCS, ITC, Adani Group stocks, ICICI Lombard, and Torrent Power among top stocks to track today

Stocks to watch, June 7, 2023: Domestic equities are likely to see a positive start to the trade on Wednesday, June 7, amid encouraging global cues. At 8:27 AM, the Nifty futures on the Singapore Exchange (SGX) traded 23.5 points, or 0.13 per cent higher at 18,702.5 levels. Further, most Asia-Pacific stock markets, too, strengthened in the morning trade, as expectations for stimulus from China and overnight gains on Wall Street boosted the mood.

Let's take a look at the top stocks that may trade actively today:

Hindustan Aeronautics (HAL): The shares of the defence company are likely to be in focus today as, according to reports, Prime Minister Narendra Modi and US President Joe Biden will announce a mega defence deal during their upcoming meeting between June 21–24, 2023, in Washington, DC. The American company General Electric will enter into an agreement with HAL to co-produce jet engines in the country.

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TCS, the IT services behemoth, released its annual report for 2022–23 on Tuesday. In its report, the company mentioned that it is significantly investing in building AI capabilities. The company's new CEO said TCS will continue to focus on cloud adoption, data architecture, customer experience, and business model transformation.

ICICI Lombard: The company released its environmental, social and governance (“ESG”) report of the company for FY2023.

Adani Group stocks: The BSE on June 6 announced a revision in the circuit limit for a total of 477 stocks, including Adani Transmission, Adani Green Energy, Adani Wilmar, and Adani Power.

Torrent Power has signed a memorandum of understanding (MoU) with the Maharashtra government for the development of three pumped storage hydro projects of 5,700 MW capacity.

ITC: Brokerage JP Morgan has maintained an 'overweight' rating on the stock with a target price of Rs 480.

VA Tech Wabag: The company has bagged an order worth Rs 420 crore from CIDCO, Maharashtra.

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