In the early trading hours on Monday, GIFT Nifty Futures trading flat amid mixed global cues indicating a flat-to-negative opening for domestic indices. Market participants will focus on the upcoming inflation data and Q1 results.

The benchmark indices had a negative trading day on July 7 as investors and traders booked profits after a record-breaking rally in IT, financial services and oil sector shares. On Friday, the S&P BSE Sensex sank 0.77% or 505.19 points to 65,280.45. The NSE Nifty 50 tanked 165.50 points or 0.85% to 19,331.80.

Look at the top stocks that might remain in focus on 10 July 2023. 

Cyient DLM: Shares of the electronics manufacturing services and solutions company will debut on the stock exchanges today. The initial public offering (IPO) was subscribed to over 71 times, with the upper range of the price band set at Rs 265 apiece. The grey market premium indicated a listing at a premium of over 50%.

HDFC Bank:

The bank plans to sell a 2% stake in National Securities Depository (NSDL) in the upcoming IPO. Further, MSCI replaced Housing Development Finance Corporation (HDFC) in its Global Standard Indexes with HDFC Bank, effective July 13. The bank will also announce its Q1 fiscal 2023-24 results on 12 July. 

Indian Oil (IOC): The oil and gas company board has approved a Rs 22,000 crore rights issue. IOC has also announced that it will form a 50:50 joint venture with Sun Mobility Pte Ltd Singapore (SMS). The board also approved an investment of $78.31 million in its subsidiary 10CL Singapore Pte Ltd for the acquisition of preference shares and warrants of SMS. 

Reliance Industries Ltd (RIL): RIL’s board of directors fixed July 20 as the demerger of Reliance Strategic Investments (RSIL) record date. Eligible shareholders will receive one share in RSIL for each share held. The company will be renamed Jio Financial Services (JFSL). Rajiv Mehrishi and Mukesh Ambani’s daughter Isha Ambani are appointed directors on the demerged financial services business board. 

Hindustan Zinc: The company has announced an interim dividend of Rs 7 per equity share for the current financial year, totalling an expenditure of Rs 2957 crore for the Vedanta subsidiary.

Samvardhana Motherson International Limited (SAML): SAML announced on July 7 that it has agreed to acquire a 100% stake in the Bengaluru-based engineering components manufacturer Rollon Hydraulics undisclosed amount Private Limited.

SpiceJet: The low-cost airline board is scheduled to meet on July 12 to consider options for raising funds, including the fresh issue of equity shares or convertible securities on a preferential basis.