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Stocks to Watch, June 18: Vodafone Idea, IndiGo, LIC, Pidilite Industries

Asia-Pacific markets were buzzing ahead of the Reserve Bank of Australia's rate decision

market, stocks, stock market trading, stock market

Tanmay Tiwary New Delhi

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Stocks to watch on June 18: Nifty50 and Sensex may open higher on Tuesday, bolstered by a rebound in Asian markets following new highs set by the S&P 500. 

At 7:10 AM, Asia-Pacific markets were buzzing in trade ahead of the Reserve Bank of Australia's rate decision. Korea's Kospi led the gains with a rise of 0.89 per cent, followed by Australia's ASX200 up 0.84 per cent. Japan's Nikkei also rose, trading 0.75 per cent higher.

In contrast, European markets closed with mixed outcomes, Germany's DAX rose 0.37 per cent, while the UK's FTSE declined marginally (0.06 per cent).

Given these developments, here are some stocks to track on for June 18

Vodafone Idea: Vodafone Idea is preparing to sell its entire $2.3 billion stake in Indus Towers through block deals next week. The stake, totaling 21.5 per cent and held through various entities, may be divested fully or partially based on market demand. This move aligns with Vodafone Idea's strategy to secure funds for its expansive 5G rollout and bolster 4G coverage.

IndiGo: According to the Directorate General of Civil Aviation, IndiGo's domestic passenger market share rose to 61.6 per cent in May from 60.6 per cent in April. 

Pidilite Industries: Pidilite Industries' joint venture, ICA Pidilite Private Ltd, has entered into an agreement with Industria Chimica Adriatica SPA (ICA) for the licensing of specific UV technology. This strategic move aims to enhance Pidilite's capabilities in its niche sectors.

Central Bank of India: The Reserve Bank of India (RBI) has levied fines of Rs 1.45 crore on Central Bank of India and Rs 96.4 lakh on Sonali Bank PLC for non-compliance issues related to loans, advances, and Know Your Customer (KYC) norms.

Brightcom Group: Brightcom Group has committed to releasing its annual results by July 31. Trading of its shares on both BSE and NSE remains suspended pending compliance with the NSE's master circular. Despite delays, the company is optimistic about avoiding prolonged suspension by reporting its Q3 and Q4 FY24 results by June 11.

LIC: LIC has clarified recent reports regarding its potential entry into the health insurance market through acquisition. The company stated that while it evaluates various strategic opportunities, including partnerships and investments, no formal proposal for such a venture has been initiated at this time.

SpiceJet: SpiceJet's market share dropped to 4.0 per cent from 4.7 per cent, according to the Directorate General of Civil Aviation.

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First Published: Jun 18 2024 | 7:19 AM IST

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