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Buzzing stocks: Ambuja Cements, Satin Creditcare, AllcargoGati, Sun Pharma

Stocks to watch on June 25: Ambuja Cements Ltd. has secured 24 bids for new limestone mines, adding an estimated total resource of 587 million tonnes

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SI Reporter New Delhi

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Stocks to watch on Tuesday, June 25, 2024: Indian markets may see a flat to positive start on Tuesday, indicated GIFT Nifty futures, as they quoted 38 points higher against Nifty50 futures at 23,581 levels. 

Asia-Pacific markets were largely in the green zone this morning, with Japan's Nikkei 225 rising 0.28 per cent, while the broader Topix index climbed 1.26 per cent.

South Korea's Kospi edged up by 0.39 per cent, while the small-cap Kosdaq dropped by 0.34 per cent. Australia's S&P/ASX 200 soared by 0.92 per cent.

Futures for Hong Kong's Hang Seng index were trading 1.09 per cent higher at 18,224 levels.

Overnight in the US, markets closed with mixed results: the Nasdaq recorded its sharpest decline since April, dropping by 1.09 per cent. The S&P 500 slipped by 0.31 per cent, while the Dow Jones managed a gain of 0.67 per cent.

Meanwhile back home, below are some stocks to track on Tuesday:

Ambuja Cements Ltd: Ambuja Cements Ltd. has secured 24 bids for new limestone mines, adding an estimated total resource of 587 million tonnes. This supplements subsidiary Sanghi Industries Ltd.'s existing reserve of 1 billion tonnes.

Satin Creditcare Network Ltd: Satin Creditcare Network Ltd. has agreed to raise up to Rs 5,000 crore through non-convertible debentures. Additionally, the microlender has approved the appointment of its new chief financial officer.

AllcargoGati: The board of AllcargoGati has approved the commencement of a Qualified Institutional Placement (QIP) starting June 24. The floor price for the issue has been set at Rs 106.07 per Equity Share.

Sun Pharmaceutical Industries Ltd: Sun Pharmaceutical Industries Ltd. announced on Monday the successful completion of its merger with Taro Pharmaceutical Industries, valued at $347.73 million.

Maruti Suzuki: Maruti Suzuki has received a show cause notice (SCN) from the Goods and Services Tax (GST) Authority, Gujarat, amounting to ₹5.4 crore. The notice concerns alleged denial of input tax credit on certain services during the period from July 2017 to March 2023.

Shalby: Shalby has terminated its franchise agreement with Madhuban Orthopedic and Multispecialty Surgical Hospital Private Ltd, Udaipur, citing breaches of contractual terms.

Prestige Estates Projects: The Bengaluru-based real estate developer has selected four investment banks (Kotak Mahindra Capital, JP Morgan, JM Financial, and CLSA) as advisors for its major QIP (Qualified Institutional Placement) through which it plans to raise up to Rs 5,000 crore, according to two sources familiar with the matter. The QIP is likely to be launched in July-August this year.

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First Published: Jun 25 2024 | 7:38 AM IST

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