Stocks to Watch: Vedanta, Lupin, Prestige Estates, Fertiliser Stocks and Others

Stocks such as Vedanta, Prestige Estates, Lupin, and Bank of Baroda may see action due to key weekend developments and the GST Council's exemption for fertilizer stocks.

Vinayak Hagargi
June 24, 2024
8:21 pm
1 min read

Stocks to Watch: Vedanta, Lupin, Prestige Estates, Fertiliser stocks, and more are set for scrutiny following the GST Council’s decision to exempt fertilizers from the 5% GST bracket. Expect muted Indian market openings amid global weakness, with Asian markets down and US indices showing slight losses post-profit booking in tech stocks.

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The Dollar index surged to multi-year highs at 105.8 on robust US economic data, impacting the Indian Rupee, which hit record lows. Brent crude oil prices edged higher at $85.3 per barrel after a US inventory report exceeded expectations, indicating firmness in oil markets.

Vedanta Resources denied stake sale reports, while Bank of Baroda plans to raise funds via long-term bonds for infrastructure. Prestige Estates approved a ₹5,000 crore equity issuance for expansion. Lupin received a positive USFDA report for its Somerset facility.

IRCTC will focus after GST exemptions on railway services like platform tickets and battery-operated vehicles. Paper and packaging stocks like TCPL Packaging and JK Paper are affected by GST council decisions on corrugated and non-corrugated paper boxes at 12% rates.

Vinayak Hagargi

Vinayak is a passionate financial markets enthusiast with 4+ years of experience. He has curated over 100 articles simplifying complex financial concepts. He has a unique ability to break down financial jargon into digestible chunks. Vinayak aims to empower newbies with relatable, easy-to-understand content. His ultimate goal is to provide content that resonates with their needs and aspirations.

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