Stocks to Watch, September 29, 2021: At 0702 hours IST, the Nifty Future on the Singaporean Stock Exchange was trading down 26.25 points, or 0.15 per cent, signaling a negative start for the Indian market.
Indian markets on Wednesday tracking negative global cues may open flat, However PMI Manufacturing, Infrastructure output data that are scheduled to be released this week will decide the course of the market. At 0702 hours IST, the Nifty Future on the Singaporean Stock Exchange was trading at 17,648, down 26.25 points, or 0.15 per cent, signaling a negative start for the Indian market. Striding on the same path, The US stock market also opened in the red and the US stocks saw their worst day since May, U.S. futures rose after the S&P 500 closed 2 per cent lower — the most since May. The Nasdaq 100 tumbled the most since March. Similarly, Asian stock markets also opened lower on Wednesday, equities fell in Japan, Australia and South Korea as mounting concerns over the debt-ceiling impasse in Washington added to investor angst. The Hang Seng Index sank 0.91 percent, or 223.68 points, to 24,276.71. The Shanghai Composite Index lost 0.80 percent, or 28.70 points, to 3,573.52, while the Shenzhen Composite Index on China’s second exchange also retreated 0.80 percent, or 19.34 points, to 2,382.86. Tokyo’s key Nikkei index opened down two percent on Wednesday, extending global market jitters, as traders worried about rising oil prices and fears of a US debt default. The benchmark Nikkei 225 index was down 2.00 percent, or 602.55 points, at 29,581.41 in early trade, while the broader Topix index fell 2.11 percent, or 43.83 points, to 2,037.94.
On Tuesday, the 30-share BSE barometer pared some losses to end 410.28 points or 0.68 per cent lower at 59,667.60. The broader Nifty of the National Stock Exchange declined by 106.50 points or 0.60 per cent to close at 17,748.60, dragged down by Bharti Airtel and Tech Mahindra.
Here are some stocks that would be in focus today:
HDFC AMC: Foreign promoter Standard Life Investments likely to sell 1.06 crore equity shares (5 percent stake) in HDFC Asset Management Company via an open market transaction on September 29, according to CNBC-TV18. LIC of India acquired 1.24 lakh equity shares in the company via an open market transaction on September 24, increasing shareholding to 5.007 percent from 4.949 percent earlier.
Interactive Financial Services: The company has received approval as a registered Merchant Bankers with SEBI.
IMP Powers: IMP Powers Limited has submitted a Resolution Plan to its lenders for restructuring of its credit facilities under the RBI guidelines. The same is under discussion with lenders. The Company is very confident of successful restructuring of its debt and shall intimate its outcome.
HCL Technologies (HCL): A leading technology company and a Premier Consulting Partner of Amazon Web Services (AWS), has joined the AWS Service Delivery Program and become an AWS Contact Center Intelligence Partner.
Shreyas Shipping & Logistics: The company has signed a Memorandum of Agreement (MOA) for acquisition of one bulk carrier of 35,152 DWT.
Infosys: Infosys announced the launch of the Leads and Proposals Solution as part of SAP’s industry cloud portfolio for the professional services industry. This cloud-native business-to-business (B2B) solution, part of Infosys Cobalt, leverages predictive analytics, the SAP Analytics Cloud solution, and the SAP Conversational AI service, integrated with SAP S/4HANA Cloud to drive innovation in the professional services sector.
Bharti Airtel: CRISIL has upgraded the long-term rating on bank loan facilities of Rs 20,000 crore, to AA+/Stable from AA/Stable.
Atul Auto: The commercial production at the Bhayla plant in Ahmedabad of the company for manufacturing three-wheelers was commenced on September 27.
Lupin: The company launched Droxidopa capsules, a generic equivalent of Northera capsules of Lundbeck NA, in the United States. The drug is used for the treatment of orthostatic dizziness and lightheadedness.
KSE: Godrej Agrovet acquired 507 shares in the company via an open market transaction on September 24, increasing shareholding to 5 percent from 4.99 percent.
Compucom Software: The company has won a tender and received a Letter of Acceptance for job works for building and other construction work from Building and Other Construction Worker Welfare Board (BOCW), Labour Department, Rajasthan for a period of 12 months. The project is worth Rs 6.07 crore.
