Overnight Digest: Stocks likely to be in focus on June 15

BSE Oil & Gas Index dropped the most falling 1.14 per cent dragged by Hindustan Petroleum, Indian Oil Corporation and Indraprastha Gas declining up to 5.75 per cent. 

On Tuesday, benchmark indices opened lower but recovered in the first half of the trading session. Towards the end of the trading session, Sensex was down 153.13 points or 0.29 per cent at 52,693.57 level, and the Nifty was down 42.30 points or 0.27 per cent at the 15,732.10 level.

Bajaj Auto, IndusInd Bank, Hindalco Industries, ONGC and Tech Mahindra were among the top Nifty losers, while NTPC, M&M, Bharti Airtel, Apollo Hospitals and Divis Labs were the Top Gainers.

In the broader markets, BSE Midcap and BSE Smallcap indices ended marginally lower. Apar Industries, Xelpmoc Design and Tech, and BLS International were the top three small cap stocks jumping up to 14 per cent in the volatile trading session. 

On the sectoral front, auto, metal and oil & gas ended lower, while capital goods, power and realty indices ended on a positive note. BSE Oil & Gas Index dropped the most falling 1.14 per cent dragged by Hindustan Petroleum, Indian Oil Corporation and Indraprastha Gas declining up to 5.75 per cent. 

Watch out for these stocks for Wednesday's trading session:

Adani Enterprises - The shares of Adani Enterprises jumped more than 5 per cent in the first half of the trading session as entered into a new partnership with energy supermajor TotalEnergies of France to jointly create the world’s largest green hydrogen ecosystem. In this strategic alliance, TotalEnergies will acquire a 25 per cent minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL). The new partnership, centered on green hydrogen, is expected to transform the energy landscape both in India and globally.

Asian Paints - The shares of Asian Paints fell to their 52-week low price of Rs 2,585 per share owing to concerns on margin due to rising inflation. The stock fell below its previous low of Rs 2,601 made on March 7, 2022. Due to the announcement of Grasim Industries regarding doubling of capital expenditure to Rs 10,000 crore for its swoop into the paints business, the shares of Asian Paints have tanked 15 per cent in the past month. The shares of Asian Paints closed 1 per cent lower in Tuesday's trading session. 

Bharti Airtel - The shares of Bharti Airtel gained during the first half of the trading session as the company unveiled India’s first multiplex on the Partynite Metaverse platform. Airtel’s Xstream multiplex will be a 20-screen platform with access to content portfolios from leading OTT partners available on the application. The multiplex will enable sampling of top original shows and movies with content pieces such as the first episode of an OTT original or the initial minutes of a movie in regional languages, besides English and Hindi. The shares of Bharti Airtel closed the trading session 1.63 per cent higher on Tuesday. 

Dr. Reddy's Laboratories - Dr. Reddy's Laboratories along with its subsidiaries together announced the launch of Dr. Reddy’s Sorafenib Tablets, USP, 200 mg, a therapeutic generic equivalent of Nexavar® (sorafenib) Tablets in the U.S. market following the approval by the U.S. Food and Drug Administration (USFDA). Sorafenib Tablets are used in the treatment of liver cancer, kidney cancer, and thyroid cancer. Post the announcement made by the company, the shares of Dr. Reddy's Laboratories climbed more than a per cent in the first half of Tuesday's trading session. The shares ended the trading session 0.96 per cent higher.

Torrent Power- The shares of Torrent Power climbed more than 3 per cent after the company announced that it has completed the acquisition of a 50 MW solar power plant from SkyPower Group, in Telangana. The enterprise value for this acquisition is Rs 416 crore. The long-term power purchase agreement (PPA) for the project is with Northern Power Distribution Company of Telangana (NPDCTL) for a period of 25 years at a fixed tariff of approximately Rs 5.35 per kWh, with remaining useful life of approximately 20 years. The shares closed the trading session 3.26 per cent higher for Tuesday's trading session.