The stock market is notable activity today, with key updates from Hyundai Motor India, HDB Financial Services, Sambhv Steel Tube, and Asian Paints. These companies are in focus following their recent financial announcements.
Stocks to watch
Hyundai
Hyundai reported a 6% drop in June sales. Reaching 60,924 units, compared to 64,303 units in June 2024. Domestic sales saw a larger decline, dropping 12 % from 50,103 units last year to 44,024 units.
JSW Energy
JSW Renew Energy Thirty Seven, a subsidiary of JSW Energy, has entered into a 12-year agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for a battery energy storage project. The deal includes a 250MW/500 MWh system at a tariff of Rs 2,24,000 per MW per month.
Asian Paints
The Competition Commission of India (CCI) has initiated an inquiry into Asian Paints over accusations of abusing its dominant position in the market. The inquiry follows a complaint from Grasim Industries, which entered the paint market through Birla Opus Paints.
HDB Financial Services
HDB Financial Services, supported by HDFC Bank, will list on the stock exchange after raising Rs. 12,500 crore through its IPO. The IPO was priced at Rs 740 per share and was oversubscribed by 16.7 times.
Sambhv Steel Tube
After raising Rs. 540 crore through its IPO, the metal pipes and tubes manufacturer will make its market debut today. The issue was heavily oversubscribed with shares priced at Rs 32 each and a subscription rate of 23.46 times.
