Stocks to Watch: Vodafone Idea, Dr. Reddy’s and Puravankara in Focus 

Despite weak global cues, the upcoming session sees potential bullish sentiment in the domestic market as GIFT Nifty trades positive in early deals, prompting investors to monitor key stocks closely.
Stocks to Watch Vodafone Idea, Dr. Reddy's and Puravankara in Focus (1)

The upcoming trading session on Friday, June 14, 2024, brings attention to several stocks that investors should keep a watchful eye on. Despite weak global cues, the GIFT Nifty is trading in positive territory during early deals, signaling a potential bullish sentiment in the domestic market.

One of the key stocks to monitor is Vodafone Idea (Vi), which has decided to offer a substantial stake worth Rs 2,458 crore to its long-term vendors, Nokia and Ericsson. This move aims to partially clear the company’s outstanding dues, potentially alleviating some financial pressure.

Dr. Reddy’s Laboratories, a prominent pharmaceutical company, has witnessed an increase in stake ownership by the Life Insurance Corporation (LIC) of India. LIC’s stake in the firm has risen from 4.95% to 5.01%, reflecting increased institutional interest in the company’s shares.

The real estate sector also has notable developments, with Puravankara receiving in-principle approval from its board to raise funds through a Qualified Institutional Placement (QIP) mode, not exceeding Rs 1,000 crore. This move could potentially fuel the company’s growth and expansion plans.

Other companies making headlines include Suzlon Energy, which has appointed Khaitan & Co. to review its corporate governance practices, and Havells India, which plans to expand its Air Conditioner manufacturing capacities to meet increasing demand. Investors will be closely monitoring these developments and their potential impact on the respective company’s stock prices.

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