Stocks to watch on June 12: HCL Technologies, Minda Corp, Reliance, and OMCs set for potential gain

Indian equity benchmarks closed slightly higher on Tuesday, with both the Sensex and Nifty 50 rising 0.15 per cent. Gains were led by information technology (IT) and oil marketing companies (OMCs), buoyed by easing crude oil prices and positive global cues. The GIFT Nifty signals a firm start for June 12, reflecting sustained investor optimism.

Here’s a roundup of the key stocks to watch:

1) HCL Technologies 

HCL Technologies rallied after announcing an expanded partnership with The Standard Insurance Company to integrate artificial intelligence into its operations. With global tech sentiment positive and foreign fund inflows into IT, HCL is poised to attract continued investor interest. The Nifty IT index itself rose 1.26 per cent, indicating broad strength in the sector.

2) Minda Corp

Minda Corporation announced a joint venture with Japan’s Toyodenso to manufacture advanced automotive switches. The JV will be established with a 60:40 equity split and will set up a new facility in Noida, expected to begin operations in the second half of FY2026–27. The move signals long-term growth and strategic expansion in India’s fast-evolving auto components space.

3) Oil Marketing Companies: BPCL, HPCL, IOC

OMC stocks saw strong momentum due to declining crude prices, which improved refining margins. HPCL jumped nearly 4 per cent, also benefiting from a “buy” upgrade by Goldman Sachs with a target price of Rs. 400. BPCL and IOC also posted solid gains. IOC’s progress in green hydrogen projects adds a long-term sustainability angle that investors are starting to price in. If crude remains soft, OMCs could continue outperforming in the near term.

4) Reliance Industries 

Reliance Industries touched an eight-month high, driven by multiple positive triggers. Approval for its joint venture Jio BlackRock to operate as an investment adviser in India. Also, Rising refining and marketing margins due to falling crude oil prices and the end of tenure of independent director Shri Raminder Singh Gujral was noted. With support from both energy and financial segments, Reliance could sustain its uptrend.

5) Bajaj Finserv

Bajaj Finserv emerged among the top gainers on the Sensex, fueled by anticipation around its upcoming 4:1 bonus issue and stock split, with the record date set for June 16. The company also saw traction through its subsidiary, Bajaj Housing Finance, which accepted bids for multiple tenor bonds. Corporate actions like these often boost retail participation and could continue lifting the stock.