Investors looking for promising opportunities in the market today should stocks to watch on ONGC, Wipro, Reliance, RVNL, Mahindra & Mahindra, and more. These stocks are poised to see significant movements due to recent announcements and strategic developments. Here’s a detailed look at why these companies are the stocks to watch on July 10.
Stocks to Watch :
ONGC’s Massive Investment in Renewable Energy
State-owned ONGC has unveiled an ambitious plan to invest approximately ₹2 lakh crore in renewable energy sites and green hydrogen plants. This substantial investment is part of the company’s strategy to achieve net-zero carbon emissions by 2038. By 2030, ONGC plans to allocate ₹97,000 crore to develop 5 gigawatts of renewable energy capacity, including green hydrogen, biogas, pump storage plants, and offshore wind projects.
Wipro Resolves Lawsuit Against Former CFO
Wipro, the global software giant, recently settled a lawsuit filed against its former chief financial officer, Jatin Dalal. According to a US SEC filing dated July 2, 2024, Cognizant’s board of directors approved a payment of $505,087 to cover the settlement and legal fees associated with the dispute. This resolution allows Wipro to move forward without the legal distraction, potentially boosting investor confidence.
Reliance Launches JioTag Air
Reliance has introduced the JioTag Air, a successor to last year’s JioTag. This new asset tracker is designed to help users locate and track valuables such as keys, ID cards, wallets, purses, luggage, and even pets. The launch of JioTag Air underscores Reliance’s commitment to expanding its portfolio of consumer electronics and IoT devices, making it a stock to watch closely.
RVNL Secures Major Railway Project
Rail Vikas Nigam Limited (RVNL), a state-owned enterprise, has emerged as the lowest bidder for a ₹202.87 crore project from the South Eastern Railway. The project involves the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning posts, and sub-sectioning posts in a 2x25KV system on the Kharagpur-Bhadrak section of the Kharagpur division. This significant win highlights RVNL’s growing presence and expertise in railway infrastructure projects.
Mahindra & Mahindra’s Special Celebratory Pricing
Mahindra & Mahindra (M&M) announced a special celebratory ex-showroom price for its AX7 range. This pricing, available for four months, coincides with the upcoming three-year anniversary of the XUV700 in the market. The company recently celebrated the production milestone of 200,000 units of the XUV700 in less than three years. This strategic pricing move could attract more customers, further strengthening M&M’s position in the SUV market.
In summary, these developments make ONGC, Wipro, Reliance, RVNL, and Mahindra & Mahindra the stocks to watch on July 10. Investors should consider these companies for their portfolios as they navigate the dynamic market landscape.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. The stocks mentioned are not recommendations to buy or sell. Investors should conduct their own research and consider consulting a financial advisor before making any investment decisions. The author and publisher are not responsible for any losses or gains resulting from the use of this information.
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