Stocks to Watch – Bata India, GAIL, Religare Enterprises; Know top market movement indicators for today

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Which stocks will be in the news on Wednesday on the basis of news and quarterly results? Zee Business Senior Research Analyst Varun Dubey gives a detailed insight into this. He said that the top triggers will be the quarterly results of two stocks from the Futures & Options (F&O) space.

Dubey said that people should keep an eye on the Bata India and GAIL. He also said that there is a cabinet meeting at 11 am.

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There is ex-dividend date for Huhtamaki PPL’s final dividend of 3 per share today. Rallis India also has an ex-dividend date for the final dividend. He said that there could be some adjustments in these stocks today and the investors should keep an eye on it.

The biggest news is from Religare Enterprises, he said adding that yesterday’s development has put a stamp on the Zee Business’ report on the company. The company will be raising Rs 570 cr by issuing preferential shares. The company will issue 5.41 cr preferential shares at a price of Rs 105.25 per share.

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The amount will be utilised towards reducing debts and investments in subsidiaries. The biigest allotment of these preferential shares have been made to Dabur Group’s Burman Family, Dubey said. There will be an EGM on 3 July.

Another company that will be in focus today will be Inox Leisure which is planning to raise money though QIP. The floor price of share has been kept at Rs 315.25 per share. There will be board meeting to decide on the final price, he said.

He also said that the hospital stocks like Apollo Hospitals, Max Health and Fortis should be in your focus. This is because the price of Covid vaccines for private hospitals have been fixed. The price of Covishield is Rs 780, Covaxin is Rs 1480 and Sputnik V is Rs 1145.

Another stock to keep an eye on is Welspun Corp which has received orders of Rs 1725 cr. The current orderbook is Rs 4800.