Stocks to Watch Tomorrow
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Three companies announced major business developments ranging from a strategic acquisition and strong property sales to a fresh infrastructure contract, making them stocks to watch on Wednesday.
✨ Key Takeaways
Indian benchmark indices ended higher on Tuesday, June 9, with Banking stocks leading the gains after the Reserve Bank of India (RBI) announced measures to improve foreign currency liquidity and lower funding costs.
Market sentiment also improved following signs of easing tensions in the Middle East. Iran and Israel announced a halt to hostilities after an appeal by US President Donald Trump, although Iran stated that military action could resume if Israel continued strikes against Hezbollah positions in Lebanon.
Against this backdrop, the following stocks are expected to remain in focus during Wednesday's trading session.
1. Adani-energy-solutions-ltd-271875">Adani Energy Solutions Ltd
Adani Energy Solutions Ltd (AESL) has signed a binding Securities Purchase and Subscription Agreement (SPSA) to acquire a 100 per cent equity stake in IntelliSmart Infrastructure Private Limited.
IntelliSmart is a smart metering joint venture between the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL).
The acquisition is expected to strengthen AESL's position in India's smart metering segment. Following the transaction, the company said its smart meter portfolio will exceed 4.7 crore meters, making it the country's largest smart metering platform.
Godrej Properties Ltd has reported sales of more than Rs 2,000 crore from the launch of its residential project, Godrej Vanantara, in Bengaluru.
According to the company, more than 1,000 homes were sold during the launch phase. The project recorded bookings covering over 1.8 million square feet of saleable area.
3. Constructions-ltd-200046">KNR Constructions Ltd
KNRC Ltd has received a Letter of Acceptance from the Malkajgiri Municipal Corporation, Hyderabad, for the construction of a six-lane bi-directional flyover in Telangana.
The project involves the construction of a flyover crossing TKR College Junction, Gayatri Nagar Junction and Mandamallamma Junction under the Engineering, Procurement and Construction (EPC) mode.
The contract is valued at Rs 235.07 crore, excluding GST. The company said the project is scheduled to be completed within 24 months.
Disclaimer: The article is for informational purposes only and not investment advice.