Here is a list of the top stocks to keep an eye on on July 4th in the stock market today

Best stocks to avoid today are: On Monday, the benchmark indexes in India maintained their upward trend and set new records. The NSE Nifty 50 closed 134 points or 0.70 percent higher at 19,322.55, while the BSE Sensex gained 487 points or 0.75 percent to close at a new high of 65,205.05. On Monday, the Indian rupee strengthened 8 paise to reach 81.96 versus the US dollar.

“Despite the brutal 500bp rate rise by the Fed, the surprising and unexpected strength of the U.S. economy (2% GDP growth in Q1 23) is the main driver of the continued surge in global stock markets. Since it was later determined that there would not be a US recession by the middle of 2023, the markets are now making up for the excessively gloomy discounting they made in 2022. The fact that the US recovery is predominantly being driven by 8 tech firms while the Indian advance is more broadly based is a key point of contrast, according to Dr. V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“The rally can continue because market momentum strength is high, but valuations are getting stretched,” he said.

Top stocks to keep an eye on on July 4:

Together with IDFC First Bank

The merger agreement, which provides that shareholders of IDFC would get 155 equity shares of the bank for every 100 IDFC shares retained, was authorised by the boards of IDFC Financial Holding Company Ltd, IDFC Ltd, and IDFC First Bank. The IDFC Financial Holding and IDFC as well as IDFC as well as the bank are combined as part of the merger. The company boards gave the plan its preliminary approval in December 2021.

R & D Industries

Reliance Jio Infocomm Ltd unveiled the internet-enabled Jio Bharat V2 4G phone at Rs 999. Beginning on July 7, the first million phones will participate in a beta test. According to the firm, Jio and Reliance Retail shops are only two of the offline venues where the phone will be sold. Users of the most recent smartphone will be able to access JioCinema, Jio Saavn, and other services with plans beginning at Rs 123 per month and make UPI payments using JioPay.

Finance by Bajaj

In the April–June quarter of FY23, Bajaj Finance’s new loan book increased by 34% from the prior year to Rs 99.4 lakh. Assets under management (AUM) for the firm increased 32% year over year. The top NBFC saw its AUM increase by the largest amount ever during the reporting quarter, to Rs 22,700 crore. In the first quarter, deposits rose 46% year over year to Rs 49,900 crore.

SpiceJet

The local airline said that the settlement of a debt payment of Rs 100 crore to City Union Bank had been completed satisfactorily. On June 30, 2023, the last installment of Rs 25 crore was made, closing the loan account for the whole amount obtained in 2012. After reaching a favourable settlement with Nordic Aviation Capital (NAC), a significant lessor of SpiceJet’s Q400 aircraft, the debt was successfully repaid.

Street Supermarkets

In the April through June quarter of FY24, the Dmart operator recorded a standalone revenue of Rs 11,584.44, an increase of 18.13% over the same time in the previous fiscal year. Revenue for the Radhakishan Damani-backed enterprise increased by 202.21 percent after the pandemic’s initial wave in 2020. Avenue Supermarts said in a regulatory filing that standalone revenue from operations for the quarter ended (QE) June 30, 2023, was $11,584.44 crore.