Why ULIP mis-selling has become rampant ?

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 65 points at the opening bell. In economic data, the Industrial Production and Manufacturing Production data for May will be released today, 12 July 2021. Inflation rate for June is also due today, 12 July 2021. Here is the list of top stocks that could be in focus on July 12.

HCL Technologies: IT company HCL Technologies on Friday announced the signing of a five-year global agreement to provide digital transformation and managed services to US-based The Mosaic Company. As part of the agreement, HCL will manage and transform Mosaic’s global application and infrastructure environments to enhance the company’s agility and ability to drive growth in the marketplace, the company said in a statement.

Avenue Supermarts: Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Saturday reported over two-fold jump in consolidated net profit at Rs 95.36 crore for June quarter 2021-22. The company had posted a net profit of Rs 40.08 crore in April-June period a year ago, when the markets were under strict lockdown. Revenue from operations was up at Rs 5,183.12 crore during the quarter under review as against Rs 3,883.18 crore in the year-ago period, said Avenue Supermarts in a BSE filing.

Maruti Suzuki: The country’s largest carmaker Maruti Suzuki India on Friday announced the nationwide roll-out of its digital platform that provides customers end-to-end online car financing solutions.

Fortis Healthcare: The company plans to initiate various measures like engaging with key corporate clients, leveraging digital platforms, and developing further competencies in cancer care, neuro and renal sciences, to improve margins and grow revenues this fiscal, as per the company’s Annual Report for 2020-21.

Aditya Vision: Bihar-based electronics retailer Aditya Vision plans to expand its retail footprints to neighbouring markets of Jharkhand, West Bengal, Eastern UP and Assam in the next two years, a top company official said.

HG Infra Engineering: The company has been declared as L-l bidder by National Highways Authority of India (NHAI) for the project Development of 6-lane Urban Extension Road (UER) – 2 – NH 344 M, Package I (From NH1 to Karala – Kanjhawala Road, Km -0+700 to 15+000) in the state of Delhi on EPC mode. The estimated project cost is Rs 1646.57 crore and HGINFRA’s bid project cost is Rs 1393.11 crore and completion period is 2 years.

Tech Mahindra: The IT major has entered into the Managed Security Services Provider (MSSP) partnership with Palo Alto Networks, a global cybersecurity leader. This agreement leads to the expansion of Tech Mahindra’s global partnership with the company to provide a full suite of Managed Security Services.

Union Bank of India: The lender has allotted Unsecured, Subordinated, Non-Convertible, Taxable, Fully Paid-Up Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Tier 2 Capital (‘Bonds’) Series XXXI aggregating to Rs 1150 crore on July 9, 2021. The redemption date is set as July 9, 2036. The bonds with tenor of 15 years carry coupon rate of 7.25 per cent per annum.

Quess Corp: The company has acquired additional 33% stake in digital gig worker platform Taskmo with an investment of about Rs 3.2 crore. Earlier, the company held a 16.12% stake in Stellarslog Technovation, which operates under the name of Taskmo. This investment will strengthen Quess’ presence in the digital gig economy and enable it to serve the demand for flexible gig workers from existing and new clients.

Salzer Electronics: The company has executed a Joint Venture Agreement with Kostad Steuerungsbau GmbH to manufacture DC Fast charging stations for electric vehicles (EV). Salzer will form a joint venture company named Salzer Kostad EV Chargers, with Austria-based company Kostad Steuerungsbau GmbH (Kostad). The JV will engage in the manufacturing of DC Fast charging stations for electrical Cars, Trucks & Buses, and components and systems thereof, in India.

Anjani Portland Cement: The company has purchased another 9285208 (6.64%) fully paid-up equity shares capital of Bhavya Cements (Investee Company) from its existing Shareholders at a price of Rs 52.59 per Share. The objective of purchase is to further consolidate the shareholding of the company in Bhavya Cements. The additional purchase would result in an increase in company’s shareholding in Bhavya Cements from 82.51% to 89.15%.

IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) is planning to restore services of its Lucknow- New Delhi Tejas Express (Train No. 82501/82502 LJN- NDLS -LJN) with effective from August 07, 2021 for 4 days a week.