Stocks to Watch Today: Today on June 23, many stocks including Craftsman Automation, JSW Infrastructure, Vodafone Idea, Bharat Electronics, Apar Industries, Hindustan Zinc, Info Edge India are going to be in focus. Some of these companies had informed the stock market about block deals, QIP (Qualified Institutional Placement) and other types of developments, the impact of which can be seen in the market’s response today. Let us know which stocks may see sharp fluctuations today.

Craftsman Automation

Company promoter Srinivasan Ravi is going to sell shares worth Rs 484 crore today through block deal, which is equal to his 2.01% stake in the company. For this, the floor price per share has been fixed at Rs 925. Due to heavy volume trading, movement is expected to be seen today.

JSW Infrastructure

The company has launched QIP (Qualified Institutional Placement) to raise Rs 7503 crore from institutional investors. To attract investors, the company has kept the share price at a discount of 7.2% (about Rs 285 per share) from its previous closing price. Due to the issuance of new shares at huge discounts, investors may keep an eye on the stock today.

Bharat Electronics

Government defense company Bharat Electronics has received orders worth Rs 1081 crore in the last one month since May 25. These include supply of radar, communication equipment and avionics. After these new orders, the total order book of the company has crossed Rs 74000 crore. This will further increase the confidence of investors in the company.

Vodafone Idea

The board has approved the issuance of warrants worth Rs 430 crore to Suryaja Investments Private Limited (an Aditya Birla Group company and member of the promoter group). These warrants have been issued at a price of Rs 11 per warrant. The promoter company has paid a total of Rs 1,182.50 crore in cash i.e. 25% of the total amount i.e. Rs 2.75 per warrant. The remaining 75% will be paid within the next 18 months when these warrants will be converted or exchanged into fully paid-up equity shares.

Hindustan Zinc

The company has signed a Memorandum of Understanding (MoU) with Advantek Associates LLP and Aero Eagle Automobiles to explore the possibility of adopting green hydrogen and alternative clean energy solutions in its mining and business operations. Hindustan Zinc is going to start using hydrogen fuel in underground mining operations.

Bata India

The company has released its fourth quarter (Q4) results, which were very disappointing. In the fourth quarter, the company’s profit fell by 95% to just Rs 2.2 crore. After this weak result, selling pressure can be seen on the shares of Bata India today.

Info Edge

Info Edge, the parent company of Naukri.com, has revealed in the information given to its investors that the company has invested Rs 1003 crore in 54 AI and deep-tech startups since 2020. According to exchange filing, the investment value of Rs 614 crore made in just 28 AI companies has increased to Rs 1268 crore today. This investment has grown 2.1 times with an impressive Gross Internal Rate of Return (IRR) of 31%.

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Hindustan Zinc: Today, a huge fall of more than 5% was seen in the shares of Hindustan Zinc. The shares fell to a low of Rs 570 intra-day, falling below their previous closing price. There is a big reason behind this decline in share prices. Actually, the government is preparing to sell up to 2% of its stake in Hindustan Zinc, so that around Rs 5000 crore can be raised from the market.

According to a Bloomberg report, the Department of Investment and Public Asset Management (DIPAM) under the Finance Ministry can start the process of selling the stake this month or from July. For this, the government has also started the work of taking advice from big merchant bankers of the country. These mainly include ICICI Securities, Axis Capital, IIFL Capital Services, HDFC Securities.

Current shareholding pattern

Hindustan Zinc is one of the largest zinc, lead and silver producing companies in the country. Anil Aggarwal’s company Vedanta Limited has about 61% stake in this company, while the government has about 28% stake in the company. Out of this the government is going to sell 2%. This sale will be done on the stock exchange through Offer for Sale (OFS) route.

impact on share prices

As soon as this news came out, a significant fall was seen in the shares of Hindustan Zinc on Friday. The shares fell nearly 5% to Rs 570-575, the lowest level in the last two weeks. The shares of Hindustan Zinc’s main promoter company Vedanta Limited have also fallen by about 3-5% today.

reason for decline

Whenever the government brings OFS, it sets the floor price at some discount from the current market price of the shares. In anticipation of this discount, selling starts in the market in advance.

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Hindustan zinc shares: The shares of Hindustan Zinc declined by more than 6 % on Wednesday, June 18 and with this it came to priced at Rs 455.60. There is a big reason behind this decline. In fact, Vedanta Limited sold its 1.71 percent stake in the company through a block deal, which is equal to 7.2 crore shares. That is, Vedanta has sold 7.2 crore shares of the company through the block deal.

Shares also saw lethargy

It is being told that this deal was done for Rs 3,323 crore at a floor price of Rs 460.5 per share. After this deal, Vedanta’s shares also declined, which slipped 0.20 percent to Rs 458.

Whose share in Hindustan Zinc

Let us know that Vedanta has a 63.42 percent stake in Hindustan Zinc and the Government of India has 27.92 percent stake. Apart from these, LIC and foreign institutional investors have the remaining stake.

Investment of 12000 crores in Hindustan Zinc

Even though there is a huge selling pressure in the shares of Hindustan Zinc after this block deal, the company is focusing on its long term growth. The company’s board has approved an ambitious plan to increase its production capacity of zinc, lead and silver.

Under this project of Rs 12,00 crore, the production of refined metal will be increased to 250 kilotons annually. It also includes upgradation of mining and milling. The company aims to complete this project within 36 months.

Despite this decline in the company’s shares on Wednesday, brokerage firms remain positive about it. JM Financial has maintained its rating of ‘buy’ on the company’s stock with its target price of Rs 550, which is 13 percent more than its current price.

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