Stocks to Watch: Tata Motors, ICICI Bank, and Groww among Shares in Focus Today

Indian Stock Market Ends Flat on Thursday, Set for Cautious Start on Friday

The Indian stock market ended Thursday on a largely flat note, with a slight positive bias, as the benchmark Nifty 50 managed to stay above the 23,400 mark. The Sensex edged up 13.84 points, or 0.02%, to finish at 74,360.01, while the Nifty 50 gained 10.95 points, or 0.05%, to close at 23,416.55.

However, the market is likely to snap its gaining streak as trends in the Gift Nifty index signalled a negative opening on Friday, 5 June. Gift Nifty was trading near the 23,495 mark, down over 17 points from the previous close of Nifty futures.

Markets Expected to Open Flat-to-Slightly Positive

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Indian markets are set for a cautious start today, with Gift Nifty indicating a flat-to-slightly positive opening around the 23,475 mark compared to Nifty’s previous close of 23,416. However, underlying sentiment remains mixed as positive domestic cues are being counterbalanced by weakness across Asian markets and continued geopolitical uncertainty.

Stocks to Watch

Some stocks are likely to remain in focus on Friday due to their own positive/negative triggers. Notably, Tata Motors Chairman N. Chandrasekaran stated that the company should aim to capture more than 20% market share by 2030, provided India’s passenger vehicle market expands to 6 million units by then.

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Additionally, ICICI Bank received a warning letter from SEBI in its capacity as a custodian after permitting a foreign portfolio investor (FPI) to repatriate funds before the completion of the mandatory lock-in period prescribed under the Voluntary Retention Route (VRR). IndiGo has decided to temporarily halt services to six international destinations due to weaker demand and rising cost pressures.

Vedanta said that the Enforcement Directorate (ED) has completed its search operations at certain company locations under the provisions of the Foreign Exchange Management Act (FEMA). The company further clarified that no penalties, restrictions, or sanctions have been levied against it.

Tata Steel is aiming for nearly 9% growth in domestic steel sales this fiscal year, supported by increased output from its Kalinganagar plant in Odisha as the facility continues to ramp up production, according to media reports.

Aurobindo Pharma has secured final approval from the US Food and Drug Administration (USFDA) to manufacture and sell Tofacitinib Tablets in 5 mg and 10 mg strengths. The approved tablets are bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Xeljanz Tablets, marketed by PF Prism CV.

CG Power and Industrial Solutions has started commercial production at its newly established Extra High Voltage (EHV) switchgear manufacturing facility, S3 Unit-II, located in Nashik, Maharashtra.

Goldman Sachs Bank Europe SE, the European subsidiary of Goldman Sachs Bank USA, has purchased 1.13 crore equity shares, representing a 0.18% stake, in Billionbrains Garage Ventures for ₹210.4 crore.