Stocks To Watch: BSE, Zomato, LTIMindtree, PNB And More
BSE Ltd., Punjab National Bank, Zomato Ltd. and LTIMindtree Ltd. will be the stocks in focus before going into trade on Monday.
BSE has revised the Sensex and Bankex option trade fees to Rs 3,250 per crore of premium turnover, effective Oct. 1.
PNB raised Rs 5,000 crore through a qualified institutional placement, issuing 48.2 crore shares at Rs 103.75 each, with key investors including Citi Group, Bank of America Securities, SBI Contra Fund, Morgan Stanley, and Goldman Sachs.
Zomato co-founder and Chief People Officer Akriti Chopra has resigned, effective Sept. 27. LTIMindtree has expanded its partnership with UK retailer Currys for retail IT solutions.
The NSE Nifty 50 snapped its six-session winning streak on Friday and the S&P BSE Sensex ended lower after two consecutive days of gains. Despite this, the Indian benchmarks managed to end higher for the third week in a row.
At close, the Nifty was 37.10 points or 0.14% down at 26,178.95 and the Sensex was 264.27 points or 0.31% lower at 85,571.85. Intraday, both the Nifty and Sensex gained around 0.2% to hit fresh highs of 26,277.35 points and 85,978.25 points respectively.
For the Nifty, 26,000–26,100 will act as a key support zone, while 85,000– 85,300 will become a key support level for Sensex, according to Amol Athawale, vice president of technical research at Kotak Securities
He also highlighted that for the Nifty, the sentiments could change if it falls below 26,000. "Below the same, traders may prefer to exit out from the trading long positions."
Here Are The Stocks To Watch On Monday
BSE: The company revised Sensex option trade fee to Rs 3,250 per crore of premium turnover value and Bankex option trade fee to Rs 3,250 per crore of premium turnover. The changes will be effective from Oct. 1.
PNB: The company raised Rs 5,000 crore through a QIP, having initially aimed for Rs 7,000 crore. The bank allotted 48.2 crore shares at a price of Rs 103.75 each, with key investors including Citi Group, Bank of America Securities, SBI Contra Fund, Morgan Stanley, and Goldman Sachs.
Apollo Hospitals: The company stake in its unit Apollo HealthCo had been diluted as an affiliate of private equity major Advent International has picked up a stake in the company. The company's shareholding in AHL has diluted from 94.9% to approximately 78.8%.
IndusInd Bank: The board has reappointed Sumant Kathpalia as the managing director and the chief executive officer for three more years, subject to the RBI approval.
NHPC: The company signed a joint venture agreement with Andhra Pradesh Power Generation Corp. for incorporation of a JV company for implementation of pumped storage hydro power projects and renewable energy projects in Andhra Pradesh.
Zomato: Akriti Chopra, co-founder and chief people officer designated as senior management personnel has resigned effective Sept. 27.
IDFC First Bank: The company's merger with IDFC Financial, IDFC to be effective from Oct. 1. The record date for determining eligible shareholders is set as Oct. 10.
Welspun Enterprises: The company has been declared L1 bidder by Brihanmumbai Municipal Corp. for the Mumbai water Tunnel project worth Rs 1,990 crore.
Yes Bank: The bank received Rs 84 crore from a trust in the Security Receipts Portfolio, related to sale of NPA Portfolio to JC Flower ARC.
LTIMindtree: The company strengthens a pact with UK retailer Currys for retail IT solutions.
Bharat Electronics: The government approved a 40-60 JV with Israel Aerospace Industries for product support for medium-range surface to air missile systems used in India.
Rallis India: S Nagarajan has been relieved from his position as COO, effective Oct. 20, and will take over as the CEO of Tata Chemicals Magadi.
ICICI Prudential: The company received income tax demand worth Rs 361 crore, including Interest. The company will appeal against the tax authority order.
ICICI Lombard: The company received income tax demand of Rs 1,388 crore for April 2021 to March 2022 period.
Research Reports
IT Services Q2 Results Preview - A Slow But Certain Revival: Motilal Oswal
Power Grid - A Key Beneficiary Of Transmission Capex Upcycle: Motilal Oswal
Oil India - Fortifying Growth Through Integrated Expansion: Yes Securities
Berger Paints - Competitive Intensity Not Significant As Yet: Nirmal Bang
Balkrishna Industries - Destocking, Making The Ride Bumpy For Wholesales: ICICI Securities
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