News

Published: June 20, 2024
Updated: June 20, 2024

Key Stocks to Watch on June 20: RIL, Blue Dart, Indian Oil, Vi, and More

At 6:35 AM, GIFT Nifty futures indicated a slight uptick, trading 21 points higher at 23,525 compared to their previous close.

Market Overview

Benchmark indices Sensex and Nifty are expected to open slightly higher on Thursday, buoyed by the absence of significant global cues. On Tuesday, the S&P 500 rose by 0.25%, the Dow Jones by 0.15%, and the Nasdaq edged up by 0.03%. Investors will be monitoring jobless data, housing starts, and the current account deficit (CAD).

In commodities, oil prices reached their highest levels in seven weeks on Wednesday, driven by optimism surrounding demand and increased geopolitical tensions.

Institutional Activity

On June 19, foreign institutional investors (FIIs) purchased shares worth Rs 7,908.36 crore, while domestic institutional investors (DIIs) bought shares valued at Rs 7,107.80 crore.

Telecom Sector Update

Telecom companies are in focus following the latest data from the Telecom Regulatory Authority of India (TRAI). According to TRAI's monthly subscriber report, the total telecom subscriber base increased by 0.16% to 1,201.22 million at the end of April, up from 1,199.28 million in March 2024. The subscriber base crossed the 1.2 billion mark in May 2017 and reached a record of 1.21 billion in July 2017.

Stocks to Watch on June 20

● Blue Dart

The logistics giant has launched a drone delivery service in partnership with Skye Air. Indian OilThe company has formed a joint venture with GPS Renewables for sustainable energy solutions.

● Reliance Industries

Its arm, Reliance Jio, added 26.87 lakh users in April 2024.

● Bharti Airtel

The telecom major added 7.52 lakh users in April.

● Vodafone Idea (Vi)

The company gained 7.35 lakh users in April.

● Wanbury

Wanbury's Patalganga site received zero observations on Form 483 from the US FDA after an inspection from June 10-14, 2024.

As the markets gear up for a slightly positive opening, these stocks are poised to attract significant attention. Investors should closely monitor these developments to make informed decisions.