Stock To Watch: GIFT Nifty was up 26 points or 0.10% at 26,376 indicating a higher start for domestic indices. Here are the top stocks to watch for the day.
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 26 points or 0.10% at 26,376 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 closed the session 212 points or 0.81% higher at 26,216, while the BSE Sensex rose 666 points or 0.78% to close at 85,836.12.
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Stocks to watch on September 27, 2024
IT Stocks in Focus
Accenture, widely considered as the bellwether for the Indian IT industry, forecasted a revenue growth between 3-6% for the financial year 2024-25, higher than the 2% growth it has seen in FY24. However, the revenue guidance translates to a range of $66.8 billion to $68.8 billion, the midpoint of which still falls short of analysts’ estimate of $68.7 billion, as per Bloomberg data. Following this, the ADRs of Indian IT companies rose higher.
OLA Electric
The company has launched the ‘Network Partner Program’. It onboarded over 600 partners to accelerate EV adoption and expand its network partners from over 600 currently to 1,000 ahead of the festive season, said the company in an exchange filing. According to the company, the network partner program will be advantageous over the traditional dealership model as it requires limited investments by partners and can be scaled up much faster.
NTPC
NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC has entered into a Joint Venture Agreement (JVA) with Maharashtra’s state-run Mahatma Phule Renewable Energy and Infrastructure Technology Ltd to undertake the development of renewable energy parks in the country.
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Adani Green Energy
Adani Green Energy entered into a joint venture with TotalEnergies, pursuant to which the company and TotalEnergies own a 50:50 stake in Adani Renewable Energy Sixty Four Limited (ARE64L). ARE64L houses a 1,150 MWac project portfolio, being a mix of operational and under-execution solar assets, with a blend of both, merchant-based and SECI PPA projects housed under Adani Renewable Energy Fifty Six Limited.
Reliance Power
Reliance Power said its subsidiary Rosa Power has prepaid Rs 850 crore of its debt to Singapore-based lender Varde Partners. With this repayment, Rosa Power is on track to become debt-free, it said. The company aims to settle its remaining debt in the next quarter, completing the process before the end of the current financial year, Reliance Power said in a statement.
RITES
A RITES-led consortium emerged as the lowest bidder in a tender floated by Delhi Metro Rail Corp Ltd, valued at Rs 87.58 crore, said RITES in an exchange filing today.
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Torrent Pharma
Torrent Pharmaceuticals refuted claims that Shelcal 500 failed a quality test by the Central Drug Standards Control Organisation (CDSCO), according to the company’s regulatory filing on the Bombay Stock Exchange (BSE). This comes after the CDSCO found over 50 drugs, including one batch of Shelcal 500, to be Not of Standard Quality (NSQ) in its monthly drug alert for August 2024.
Indian Bank
Indian Bank’s board has approved the raising of Rs 5,000 crore through long-term infrastructure bonds to finance projects. The board approved the raising of additional long-term infrastructure bonds aggregating up to Rs 5,000 crore over and above Rs 5,000 crore already raised by the bank in FY25, Indian Bank said in an exchange filing.
RailTel
RailTel Corporation of India secured a major order worth Rs 155.72 crore (excluding taxes) from the Rural Development Department, Mantralaya, Maharashtra.
