Stocks to Watch on June 10: MPhasis, Inox Wind, Dr Reddy’s, KEC International

Stocks to Watch on June 10: MPhasis, Inox Wind, Dr Reddy’s, KEC International

Market Outlook:

Indian equity markets are expected to open lower on June 10, tracking weak global cues. The Nifty50 is likely to open around 15,650-15,675 levels.

Stocks in Focus:

1. MPhasis (Rs 2,172)

Merger with Hewlett Packard Enterprise (HPE) is expected to be completed anytime soon.
The combined entity will become a global leader in digital transformation and hybrid cloud services.

2. Inox Wind (Rs 105)

The company has signed a contract with Tata Power Renewable Energy to supply wind turbine generators for a 380 MW wind project in Gujarat.
This is one of the largest wind turbine orders in India in recent times.

3. Dr Reddy’s Laboratories (Rs 4,556)

The company has received US FDA approval for its generic version of Revlimid (lenalidomide), a drug used to treat certain blood cancers.
This approval is expected to boost the company’s revenue and profitability.

4. KEC International (Rs 460)

The company has secured new orders worth Rs 2,886 crore.
These orders are related to transmission and distribution, EPC, oil and gas pipelines, and solar EPC projects.

5. Apollo Tyres (Rs 281)

The company has announced a price increase of up to 5% for its passenger car and two-wheeler tires in India.
This price hike is driven by rising input costs.

Other Stocks to Watch:

Tata Motors
Hindustan Unilever
Reliance Industries
HDFC Bank
Infosys

Disclaimer: The information provided in this article is for informational purposes only and does not constitute investment advice. Investors should consult a registered investment advisor before making any investment decisions.