Stocks to Watch on June 3: Mphasis, Oil-Linked Stocks, Torrent Power, Biocon, Godrej Properties, and More in Focus
As the domestic stock market gears up for a likely positive opening on Tuesday, June 3, GIFT NIFTY futures suggest that the NIFTY50 index could open around 19 points higher. Here’s a look at the key stocks expected to remain in focus today:
🔍 Mphasis
Mphasis shares will be under close watch after the company responded to media reports suggesting it may lose FedEx business—accounting for 8% of its total revenue. In an exchange filing, Mphasis clarified that it continues to provide services within the FedEx ecosystem, calling other aspects of the article “purely speculative.” The company also reiterated its positive outlook shared during previous investor interactions.
🛢️ Oil-Linked Stocks
Stocks in sectors affected by crude oil prices—such as paints, tyres, aviation, oil marketing companies, and oil exploration—are expected to be volatile. Crude prices surged nearly 3% on Monday after:
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OPEC+ confirmed lower-than-expected output increases for July.
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Canada’s oil production was disrupted by wildfires.
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Iran was reported to reject a US nuclear deal that could ease sanctions and boost oil supply.
⚡ Torrent Power
Torrent Power has signed a 10-year LNG supply agreement with BP Singapore. The agreement secures up to 0.41 million tonnes of LNG annually from 2027 to 2036. The LNG will support operations at its 2,730 MW gas-based power plants and meet city gas demand.
🏗️ Godrej Properties
Real estate giant Godrej Properties has acquired a 14-acre land parcel in Pune’s Kharadi-Wagholi area for around ₹800 crore. The company plans to develop a premium housing project on this site with an estimated development potential of 3.7 million sq. ft. and revenue potential of ₹4,200 crore.
💉 Biocon
Biocon and its subsidiary Biocon Pharma have received CDSCO approval for their generic version of Liraglutide (Victoza®), a diabetes treatment drug. This approval covers use in adults, adolescents, and children aged 10+ with Type 2 Diabetes Mellitus.
🧾 Grasim Industries
Grasim announced that its finance committee has approved the issue of rupee-denominated, non-convertible debentures (NCDs) worth up to ₹1,000 crore. These will be issued in tranches via private placement.
🏗️ Man Industries
Man Industries' board has approved raising ₹300 crore through a preferential allotment of convertible warrants and equity shares. The issue is subject to shareholder approval and will include both promoter and non-promoter allocations.
🚛 Zinka Logistics
As per CNBC-TV18, Quickroutes International is planning to divest a 9% stake in Zinka Logistics Solutions (a digital trucking platform) via a block deal, expected to raise ₹647 crore.
🚆 Frontier Springs
Frontier Springs has secured fresh orders worth ₹92.6 crore (including GST) from Rail Coach Factory, Kapurthala, and Modern Coach Factory, Raebareli, for supplying air spring assemblies.
📱 Vodafone Idea
Vodafone Idea is in talks with the government regarding the AGR (Adjusted Gross Revenue) issue. CEO Akshaya Moondra noted that India's ARPU is among the lowest globally, and emphasized that telecom industry returns are below the cost of capital. He urged the Centre to offer necessary relief measures.
Reference from:-https://upstox.com/news/market-news/stocks/stocks-to-watch-june-3-mphasis-oil-linked-stocks-torrent-power-biocon-zinka-logistics-man-industries-grasim-vodafone-idea/article-171348/