Stocks To Watch: RIL, Tata Steel, Mahindra & Mahindra, Wipro HDFC AMC, Sheela Foam, DB Realty
Here are the stocks to watch in today's trade..
Asian shares are headed for a subdued opening on Tuesday as concerns about China’s property sector re-emerge. Wall Street closed higher and a US bond selloff extended into a fourth week, while a gauge of dollar strength hit its highest level this year, according to Bloomberg report.
The S&P 500 snapped a four-day slide, rising as traders returned to their desks following the worst weekly selloff on Wall Street since March. The Nasdaq 100 ended the day higher, with Amazon.com Inc. gaining.
Brent crude rose to $93.29 a barrel, and West Texas Intermediate was trading below the $90 mark. The yield on the 10-year U.S. bond was trading at 4.53%, whereas Bitcoin was above the $26,000 level.
At 5:19 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.08% or 15.5 points trading at 19,712.
India's benchmark stock indices ended little changed with a positive bias after declining for four consecutive trading days on Monday. The broader market indices ended higher, with the BSE MidCap ending 0.46% higher and the BSE SmallCap rising 0.12% at the close of the market.
The S&P BSE Sensex closed 14.54 points, or 0.02%, higher at 66,023.69, while the NSE Nifty 50 ended flat at 19,674.55.
Overseas investors remained net sellers of Indian equities on Monday for the fifth consecutive session. Foreign portfolio investors offloaded stocks worth Rs 2,333 crore, according to provisional data from the NSE. Domestic institutional investors remained net buyers and mopped up equities worth Rs 1,579 crore.
The Indian Rupee weakened 21 paise to close at 83.15 against the U.S dollar.
Stocks To Watch
Reliance Industries: The company has issued a postal ballot notice to seek shareholders' approval to appoint Isha Ambani, Anant Ambani, and Akash Ambani as non-executive directors. The voting will be held between Sept. 27 and Oct. 26.
Tata Steel: Moody's raised the steelmaker's long-term rating to Baa3 from Ba1 and outlook to stable from positive. It said the upgrade reflects expectations of continued strength in the company's credit profile and considerable deleveraging through gross debt reduction. The rating agency expects Tata Steel to maintain conservative financial policies with well-balanced capital allocation and financial metrics.
Mahindra & Mahindra: Canada's Ontario will buy a 20% stake in company unit Mahindra Teqo for Rs 35 crore. The stake sale will be completed by Jan. 3, 2024.
Wipro: The company sold a 14.02-acre land parcel and building in Chennai to Casagrand Bizpark for Rs 266.38 crore.
HDFC AMC: The company will invest Rs 25 crore in unit HDFC AMC International to help it meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under IFSC rules.
Indian Hotels: The company will invest $11.5 as equity in Dutch subsidiary Ihoco BV to help it repay debt and for other operations.
Fortis Healthcare: The company will acquire a 99.9% stake in Artistery Properties Pvt. for Rs 32 crore.
Welspun Corp: Unit Sintex will set up water tanks and PVC pipe facilities in Telangana with up to a Rs 350 crore investment.
Century Textiles: Unit Birla Estates has successfully launched Phase 1 of Birla Trimaya in Bengaluru's Devanahalli. The project is expected to have a revenue potential of Rs 3000 crore.
Kalpataru Projects International: The company will raise Rs 150 crore via NCDs through private placement.
Ujjivan Small Finance Bank: The bank has partnered with SMC Global Securities to offer 3-in-1 accounts (savings, demat, and trading) to its customers.
Sheela Foam: The company plans to raise up to Rs 1,200 crore via QIP. It will allocate 1.11 crore shares at Rs 1,078 apiece.
Strides Pharma: The board approved spinning off the oral soft gelatin contract manufacturing business into Stelis Biopharma. The new entity will be called OneSource. Shareholders will get one share of OneSource with a face value of Rs 1 apiece for every two shares of face value Rs 10 each held in Strides Pharma.
DB Realty: The company will acquire shares in Bamboo Hotel Global Centre, Goan Hotels & Realty, and BD And P Hotels for more than Rs 2,300 crore, with the intent to enter the hospitality business.
Highways Infrastructure Trust: The board has approved rights issues of Rs 514 crore at Rs 77.96 apiece, which will be open from Oct. 9 to 11.
Ind-Swift Laboratories: The board approved the merger of Ind-Swift with itself to consolidate businesses and strengthen its competitive position. It will give 100 shares for every 655 shares held in Ind-Swift after the merger.
RPP Infra Project: The company bagged orders of over Rs 470 crore in Tamil Nadu and Karnataka.
Manoj Vaibhav Gems 'N' Jewellers: The IPO was subscribed 58%, or 0.58 times, on its second day. The bids were led by retail investors (0.73 times), non-institutional investors (0.57 times), and institutional investors (0.33 times). The issue was subscribed to 13%, or 0.13 times, on Day 1.
Updater Services: The IPO was subscribed to 0.06 times, or 6%, on its first day. The bids were led by retail investors (0.30 times, or 30%) and non-institutional investors (0.1 times, or 1%). The issue received zero bids from institutional investors.
JSW Infrastructure: The IPO was subscribed 0.43 times, or 43%, on its first day. The bids were led by retail investors (1.38 times), non-institutional investors (0.60 times, or 60%), and institutional investors (0.03 times, or 3%).
Nuvama Wealth Management: Equity shares of Nuvama Wealth Management, formerly known as Edelweiss Securites, will be listed and admitted for dealing on the BSE and the National Stock Exchange on Tuesday.
Delta Corp.: Ashish Rameshchandra Kacholia sold 15 lakh shares (0.56%) for Rs 144.65 apiece.
Indiabulls Real Estate: Creditcorp Investment Advisors sold 30.95 lakh shares (0.57%) for Rs 85.38 apeice.
IRB Infrastructure Developers: Promoter IRB Holdings bought 1.09 lakh shares on Sept. 25.
UY Fincorp: Promoter Udai Kothari bought 1.13 lakh shares between Sept. 21 and 22.
DB Realty: Promoter Shanita Deepak Jain sold 10,052 shares on Sept. 20.
Som Distilleries and Breweries: Promoter Jagdish Kumar Arora bought 10,000 shares on Sept. 25.
Maharashtra Seamless: Promoter Dharam Pal Jindal bought 31,800 between Sept. 20 and 21.
Pledge Share Details
Prime Focus: Promoters A2R Holdings revoked a pledge of 13.6 crore shares, Naresh Mahendranath Malhotra revoked a pledge of 5.86 crore shares, and Namit Naresh Malhotra revoked a pledge of 1.49 crore shares on Sept. 20.
Aarti Drugs, Black Box, BCL Industries, BF Investment, Campus Activewear, Container Corporation of India, Edelweiss Financial Services, GIC Housing Finance, General Insurance Corporation of India, Glenmark Life Sciences, Gujarat Narmada Valley Fertilizers & Chemicals, GR Infraprojects, GRM Overseas, Gujarat Alkalies & Chemicals, Heubach Colorants India, Hikal, Infibeam Avenues, Jayaswal Neco Industries, Kingfa Science & Technology, Kiri Industries, Maithan Alloys, Mangalore Chemicals & Fertilizers, MCX, Mold-Tek Packaging, NBCC (India), NLC India, Paradeep Phosphates, PVR Inox, Quess Corp, Refex Industries, Sadhana Nitrochem, SG Finserve, Sharda Motor Industries, Shivalik Bimetal Controls, Techno Electric & Engineering Co, Time Technoplast, Vascon Engineers, Waaree Renewable.
Who's Meeting Whom
Welspun Corp: To meet analysts on Sept. 29.
Welspun India: To meet analysts and investors on Sept. 29.
Radico Khaitan: To meet investors on Sept. 29.
Tube Investments: To meet investors on Sept. 29.
Kirloskar Oil Engines: To meet analysts and investors on Sept. 28.
Quick Heal Technologies: To meet analysts and investors on Sept. 29.
OnMobile Global: To meet investors on Sept. 27.
Netweb Technologies: To meet analysts and investors on Sept. 29.
Ex-date AGM: BF Utilities, Kaveri Seed Co.
Move Into Short-Term ASM Framework: Mufin Green Finance.
Move Out Of Short-Term ASM Framework: Hindustan Construction Co., Jaiprakash Associates, PDS, Rane (Madras).
Nifty September futures ended at 19,704.75, a discount of 3.5 points.
Nifty September futures fell 0.02%, with 18,285 shares in open interest.
Nifty Bank September futures ended at 44,813, a premium of 135.4 points.
Nifty Bank September futures fell 0.3%, with 4,143 shares in open interest.
Securities in the ban period: Balrampur Chini, Canara Bank, Granules India, Hindustan Copper, Indiabulls Housing Finance