Several Indian stocks are currently attracting attention from investors due to a mix of company-specific developments and broader market trends. Among the stocks to watch are Zee Entertainment Enterprises, Asian Paints, NTPC, Vedanta, Sona BLW Precision Forgings, and HCL Technologies.
Zee Entertainment Enterprises (ZEE) is in focus as its promoters plan to increase their stake from nearly 4% to 18.39% through a preferential issue of convertible warrants, investing ₹2,237 crore. This move aims to strengthen the company's financial foundation and support strategic growth in content and technology. The board has approved the issuance of up to 169.5 million fully convertible warrants at ₹132 per warrant, a premium over SEBI's minimum price of ₹128.58. Zee Entertainment shares have shown positive momentum, with analysts suggesting a potential upside. The company's net profit jumped significantly in the last quarter, and revenue is also up. Foreign Institutional Investors (FIIs) have increased their holdings in the company.
Asian Paints is experiencing increased competitive pressure, which is straining profitability across segments, according to MD & CEO Amit Syngle. The company intends to step up efforts to protect its market share. Recently, Reliance Industries, through an affiliate, sold 85 lakh shares of Asian Paints for ₹1,876 crore in a block deal. ICICI Prudential Mutual Fund acquired these shares, increasing its stake in Asian Paints. Despite these transactions, technical analysis suggests weakness, with the stock trading below key moving averages.
NTPC is in the news as the state-run power major considers raising up to ₹18,000 crore via bonds. A board meeting is scheduled to discuss this proposal. The company has demonstrated strong operational and financial performance, with increased total income and a rising renewable energy capacity. NTPC's consolidated net profit rose significantly in the fourth quarter, and the board has approved a final dividend. However, the stock is trading lower than several of its moving averages.
Vedanta's board will meet to consider the first interim dividend for FY26, with a record date fixed. The company's share price has risen ahead of this announcement. Vedanta reported strong financial performance in Q4 FY25, with record consolidated revenue and increased EBITDA. The company's board is scheduled to meet on Wednesday, June 18, to consider and approve the dividend. Analysts have a generally positive outlook on Vedanta, with a consensus recommendation to BUY, expecting EPS growth and a potential upside in the share price.
Sona BLW Precision Forgings (Sona Comstar) recently faced a setback with the passing of its Chairman, Sunjay Kapur, leading to a temporary drop in share price. However, the company has affirmed that operations and long-term outlook remain unchanged. Sona Comstar's shares have declined, trading below their 52-week high. The company has announced a dividend. Bernstein analysts downgraded Sona BLW's stock rating, indicating caution.
HCL Technologies (HCL Tech) has been demonstrating market strength. The company's revenue and profit grew year-on-year in the March quarter. HCL Tech shares have shown slight gains and declines recently, with analysts offering varied recommendations. LIC has increased its stake in HCL Technologies. HCL Tech's beta value suggests a lower risk profile compared to its peers.
Overall, the Indian stock market is expected to remain sideways to bullish in the near term. While some companies face challenges such as competitive pressures or leadership transitions, others are focusing on growth through stake increases, bond issuances, and strategic partnerships. Investors should carefully monitor these developments and consider both company-specific factors and broader market trends when making investment decisions.
