Stocks To Watch: HPCL, SBI, Tata Steel And More
Hindustan Petroleum Corp., State Bank of India, Tata Steel Ltd. and Wipro Ltd. are among the stocks in focus as markets open on Thursday.
HPCL has approved the construction of the Visakhapatnam-Raipur pipeline project, valued at Rs 2,212 crore, and revised the cost estimate for the Visakhapatnam refinery modernisation to Rs 30,609 crore.
Tata Steel Ltd. has entered into a £500 million grant funding agreement with the UK government for its £1.25 billion green steel project at Port Talbot. This will enable the installation of an electric arc furnace and help preserve 5,000 jobs.
A wholly owned subsidiary of Bharat Petroleum Corp. and Indian Oil has secured a production concession in Abu Dhabi covering an area of 6,162 sq km through an all-cash secondary transaction.
Wipro has developed an AI-powered data strategy for JFK International Air Terminal, while Infosys has partnered with Clearstream, a unit of Deutsche Börse, to enhance its digital issuance platform.
The benchmark equity indices snapped a two-day gain to close lower on Wednesday.
The NSE Nifty 50 ended 122.65 points or 0.49% lower at 24,918.45, while the S&P BSE Sensex was 398.13 points or 0.49% down at 81,523.16. During the day, the Nifty fell as much as 0.62% to 24,885.15 and the Sensex declined 0.61% to 81,423.14.
The current market texture is weak, but fresh selloff is possible only after the dismissal of the 20-day simple moving average or below 24,900 and 81,400 for Nifty and Sensex, respectively, according to analysts.
"Below the same, it (Nifty and Senex) could slip till 24,775- 24,725 and 81,000-80,800, respectively. On the flip side, 25,000/81,800 would be the key levels for the bulls. Above which, it could bounce back till 25,100-25,150/82,150-82,500," according to Shrikant Chouhan, head equity research at Kotak Securities.
The NSE Nifty 50 is finding difficulty in overcoming its strong hurdle of 25,100, but on the lower timeframe, said Aditya Gaggar, director of Progressive Share Brokers Pvt.
Here Are The Stocks To Watch On Thursday
Hindustan Petroleum Corp.: The company approves the construction of the Visakhapatnam-Raipur pipeline project worth Rs 2,212 crore. It has revised the cost of the Visakhapatnam refinery modernisation project to Rs 30,609 crore.
National Buildings Construction Corp: The company signs a MoU worth Rs 1,600 crore with MTNL to develop a 13.9-acre land parcel in New Delhi.
Shriram Finance: The company approved and allotted senior, secured, rated, listed, redeemable, taxable, and non-convertible Debentures on a private placement basis for an issue size of Rs 1,000 crore, plus a green shoe option of Rs 500 crore.
Tata Steel: The company has signed a £500 million grant funding agreement with the UK Government for a £1.25 billion green steel project in Port Talbot. The agreement is to allow the installation of an electric arc furnace at Port Talbot. The grant will help preserve 5,000 jobs.
Adani Ports and Special Economic Zone: The company has signed a concession agreement with DPA to develop Berth No. 13 at Deendayal Port, Kandla, Gujarat. Berth No. 13 is 300 m long and offers 5.7 MMT capacity annually. It is likely to be commissioned in the financial year 2027.
Bharat Petroleum Corp.: The company's arm and Indian Oil have received a production concession in Abu Dhabi for a 6,162 sq km area in an all-cash secondary transaction.
Wipro: The company has built an AI-enabled data strategy for JFK International Air Terminal.
Infosys: The tech giant has collaborated with Clearstream, part of Deutsche Börse, to enhance the digital issuance platform.
State Bank of India: Bank SBI Indonesia, the overseas banking subsidiary of State Bank of India, for regulatory compliance with meeting a minimum 1% of the local shareholding requirement, has proposed to issue preference shares to PT Bank KEB Hana, Indonesia. As part of the arrangement, SBI, PT Bank KEB Hana Indonesia, and Bank SBI Indonesia signed a shareholders' agreement on Sept. 10, which allows Bank KEB Hana Indonesia to invest in 1% shares of Bank SBI Indonesia by way of preference shares.
GMR Airports Infrastructure: The company has changed its name to GMR Airports following the merger of GMR Airports and GMR Infra Developers.
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