Overnight Digest : Stocks to look out for on July 7

The stocks which are expected to witness significant movement on July 7 are IDFC Bank Limited/Shriram City Union Finance Limited/Shriram Transport Finance Company Limited, Hindustan Petroleum Corporation Limited, Tata Motors, Bharat Forge and Spice Mobility Limited  
 
IDFC Bank Limited -  IDFC Bank and Shriram Group are likely to announce merger on July 8 to create a financial powerhouse worth over US $ 10 billion. The share price of the bank will be watched on July 7.

Hindustan Petroleum Corporation Limited – HPCL has informed that the company has raised fixed rate senior unsecured notes aggregating to USD 500 million. The company intends to use the proceeds to fund capital expenditures for its ongoing and future domestic projects in accordance with the ECB guidelines in India. The share price will be in focus on July 7.

Tata Motors – Tata Motors announced that the company has offered reduction in prices of commercial vehicles  (cargo) in the range of 0.3 % to 4.21% and in commercial vehicles (passenger transportation) in the range of 0.6% to 8.2% so as to pass on the benefits to its customers. The share price of the company will be in the limelight on July 7.

Bharat Forge Limited – The company has informed that Kalyani Strategic Systems Limited (a subsidiary of Bharat Forge) and Israel Aerospace Industries Limited have signed a new MOU for expansion of the joint venture . The new MOU  covers the establishment of a maintenance centre in India for selected advanced air defence systems. The share price of the company will be watched on July 7.

Spice Mobility Limited - The company has informed that both Spice VAS (Africa) Pvt Limited (SVA) and SVA (Mauritius) Pvt Limited (SM), the step-down foreign subsidiaries of the company, have entered into an MoU whereby SVA shall transfer its whole shareholding to SM against issue of SM’s shares to SVA. The share price of the company will be in the limelight on July 7.