Stocks to watch: Shares of firms like Infosys, Paytm, DMart, Vedanta, Coal India, SpiceJet, and others will be in focus on Wednesday’s trade.
Stocks To Watch on September 13: GIFT Nifty on the NSE IX traded 43.5 points, or 0.22 per cent, higher at 20,073.5, signaling that Dalal Street was headed for positive start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
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Avenue Supermarts: The company opened a new store at Perungudi, Tamil Nadu on Tuesday. With this, the total number of stores as on date stands at 334.
Paytm: The company does not see the need for funding in the near future and is confident of attaining sustainable free cash flow, the company’s chief financial officer said.
Infosys: The IT major has inked a multi-year deal, for an undisclosed sum, with STARK Group, Europe’s largest retailer and distributor of building materials, to power its digital transformation journey.
Steel stocks: India and the US will set up a joint monitoring mechanism to enable exports of at least 336,000 tonnes of certain steel and aluminium products without paying additional levies.
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Banks: With effect from April 2024, RBI has directed banks to classify investments in three categories. Fair value through profit and loss (FVTPL) will be the new category, under which there will be held for trading (HFT) – over 5 per cent sale from HFT will need prior approval.
Bank of Baroda (BoB): Targeting a 25 per cent YoY growth in retail loan book, the state-run lender will be offering a discount of up to 80 bps on personal loans and home loans starting at 8.4 per cent this festive season.
Vedanta: Billionaire Anil Agarwal plans to transfer Zambia’s Konkola Copper Mines from Vedanta Resources to Vedanta. The sale can “create a fully integrated copper vertical and eventually, a successful global copper company, like Chile’s Codelco and Mexico’s Southern Copper,” Agarwal posted on X (formerly Twitter).
KEC International: The company has secured new orders worth Rs 1,012 crore across its business segments.
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L&T Finance: Bain Capital on Tuesday sold 2.82 per cent stake or 70 million shares of the company at Rs 130 apiece. BNP Paribas, SBI Life, DSP Blackrock MF and Bajaj Allianz Life were the buyers.
SpiceJet: The low-cost airline said it completed the payment of Rs 100 crore to Kal Airways on Tuesday. Spicejet v/s Maran case will next be heard on 03 October.
Coal India: The firm plans to invest Rs 24,750 crore in capital expenditure to build 61 first-mile connectivity (FMC) projects to boost eco-friendly coal transportation.
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