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Stocks in Focus: KPI Green Energy, Bandhan Bank, Coforge, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.21% lower by 51 points at 24,364.50, indicating that the domestic benchmark indices are likely to make a negative start on Monday.

On Friday, 5 July, Domestic benchmark indices S&P BSE Sensex slumped 53.07 points or 0.07%, to end at 79,996.60 while the Nifty50 traded 21.70 points or 0.09% lower and settled at 24,323.85.

Here are some stocks that are likely to remain in focus on 8 July.

Coforge: The company has acquired 4,618,199 equity shares of Cigniti, representing 16.92% of the current paid-up share capital and 16.76% of the expanded capital at an average price of Rs 1,398.50 per share. 

Bandhan Bank: The company has appointed Ratan Kumar Kesh as the Interim Managing Director and Chief Executive Officer of the company, starting 10 July 2024, following the retirement of Chandra Shekhar Ghosh. 

KPI Green Energy: The company announced signing a power purchase agreement for a 50 megawatt solar-wind power project with Gujarat Urja Vikas Nigam through a competitive bidding process. 

Titan Company: The company reported a strong growth during the April-June quarter with its standalone business growing 9% year-on-year and the expansion of its retail network to 3,096 stores by adding 61 new outlets during the quarter. 

Bank of Baroda: In its Q1FY25 report, the bank reported an 8.5% increase in domestic advances from last year, reaching Rs 8.82 lakh crore. Domestic retail advances surged by 20.8% to Rs 2.22 lakh crore. Global advances grew by 8.1%, totalling Rs 10.72 lakh crore. Domestic deposits rose by 5.25% to Rs 11.05 lakh crore.

JM Financial: The Board of Directors of the company have approved the acquiring a 42.99% stake in JM Financial Credit Solutions for a total consideration of Rs 1,282 crore. 

Indian Bank: The company during the Q1FY25 reported a 10.9% YoY increase in total business to Rs 12.21 lakh crore. Its total deposits increased by 9.5% YoY to Rs 6.1 lakh crore, whereas its gross advances grew by 12.7% YoY to Rs 5.4 lakh crore. 

NLC India: The company has secured the rights to develop the Machhakata coal mine in Angul, Odisha, which marks the company’s achievement in acquiring the second commercial coal mine in the state.

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