Stocks to Watch Today, 6th June 2025:Bajaj Finserv,Indian Renewable Energy Development Agency And more

Indian equity markets appear set to continue their 19-day range-bound trend on Friday, with investors eyeing the RBI’s upcoming interest rate decision as a potential catalyst for a breakout.

As of 7:40 AM, GIFT Nifty was down by 14 points or 0.06% at 24,847, indicating a muted start.

Asian markets opened mixed amid caution ahead of crucial US jobs data, which could influence the Federal Reserve's rate outlook. Japan’s Nikkei was up 0.31%, while China’s CSI 300 slipped 0.3%.

Overnight, US markets ended lower after a heated exchange between Elon Musk and President Trump rattled sentiment. Tesla suffered its worst session in four years, dragging the S&P 500 down 0.53% and the Dow by 0.25%. Tensions escalated after Trump threatened to terminate Musk’s government contracts over comments on the 'Big Beautiful Bill'.

Back in India, the BSE Sensex closed 443.79 points (0.55%) higher at 81,442.04 on Thursday, while the Nifty50 gained 130.7 points (0.53%) to end at 24,750.90. Foreign Institutional Investors (FIIs) net sold shares worth ₹208.47 crore, whereas Domestic Institutional Investors (DIIs) made net purchases worth ₹2,382.4 crore.

Here are the stocks to watch today:

Stocks to Watch 

Bajaj Finserv whose promoter groups, Bajaj Holdings and Jamnalal Sons, are said to be exploring the sale of up to a 1.94% stake through block deals. The proposed transaction may have a total block size worth around ₹5,828 crore with a floor price fixed at ₹1,880 per share. Associated reports also suggest that promoters were considering a part stake sale valued at ₹4,750 crore in a block deal, with an upsize facility. This is a sharp realignment of promoter equity in the financial services giant.

Indian Renewable Energy Development Agency (IREDA) launched its Qualified Institutional Placement (QIP) on June 5. The ₹173.83 per share has been fixed as the floor price for the QIP, with the company having the discretion to provide a discount of a maximum of 5% on this price. These kinds of capital-raising activities are important to fund growth in the future and project development in the emerging green energy space.

Ashoka Buildcon bagging Letters of Intent (LoI) worth ₹1,387.2 crore from the Motor Vehicles Department, Maharashtra. The projects involve the designing, implementing, integrating, operating, and maintaining an intelligent traffic management system in different circles in Maharashtra for 10 years. This huge order reflects the ongoing investment in essential public infrastructure.

Praj Industries has been appointed by Paraguay-based Enersur S.A. to assist with the development, evaluation, and phased roll-out of a biorefinery project in Paraguay. The international project identifies Praj Industries' increasing presence in the global bio-energy space.

JSW Energy extends its foray into the power generation sector with the commissioning of 281 MW of organic renewable energy capacity, including 215 MW of solar and 66 MW of wind energy. This addition takes the company's overall installed capacity to 12,499 MW. Additionally, its step-down unit, JSW Renew Energy Three, has signed a Power Purchase Agreement (PPA) with Adani Electricity Mumbai for 250 MW of STU-linked wind capacity. The 25-year PPA is valued at a tariff of ₹3.65/kWh, and the project in Maharashtra is expected to be commissioned within the next 24 months.

Coal India (CIL) has signed a non-binding Memorandum of Understanding (MoU) with Indian Port Rail & Ropeway Corporation in Kolkata. The MoU is for the development of rail infrastructure for CIL and its subsidiaries, which will help improve logistical efficiencies for coal evacuation.

Imagica World Entertainment has raised a facility agreement of ₹275 crore from HDFC Bank. The funding is for the acquisition of the park business undertaking Wet'n Joy (Amusement Park and Water Park) at Lonavala and Wet'n Joy (Water Park and Saiteerth Devotional Theme Park) at Shirdi—from Giriraj Enterprises.

Allied Digital Services posted a consolidated net loss of ₹8.67 crore for Q4, reversing a profit of ₹11.62 crore during the same period last year. While the company incurred a loss, its revenue improved 15.6% to ₹204.4 crore from ₹176.8 crore year-on-year, although overall expenses jumped by 46% to ₹230.9 crore. Other income also jumped to ₹37.5 crore from ₹0.14 crore.

Zaggle Prepaid Ocean Services has entered into an agreement to purchase a 100% equity stake in Greenedge Enterprises for ₹27 crore. This transaction, at present formalized in the form of a non-binding term sheet, is aimed at strengthening Zaggle's position in the loyalty, rewards, and travel categories.

KCP declared the appointment of K Ramakrishna as the CEO for its cement operations from June 5. He was Senior President in the cement division before that, signaling an in-house appointment to a senior leadership position.

Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.

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