Stocks To Watch: Adani Power, Hero MotoCorp, Adani Green, Lupin, PNB, Bajaj Electricals, Deepak Nitrite

U.S. stocks dipped once again as Federal Reserve remained resolute in its hawkish stance to battle inflation. Treasuries pared losses with 10-year yield rising three basis points to 3.76%.

The S&P 500 fell 2.2%; the tech-heavy Nasdaq joined the downturn with 3.1% decline. Meanwhile, oil rose 0.2%, amid OPEC+ discussions over slashing output at its meeting next week. Gold changed little, whereas Bitcoin held on to the $19,000-level.

The rout continued in the Indian benchmark indices for the seventh session in a row. The volatile day saw losses in consumer discretionary, power, utilities, banking, and auto stocks, while healthcare and metal stocks gained.

A day before RBI’s monetary policy announcement, rupee recovered from its record low against the U.S. dollar but shed most of its gains over the course of the day. At 8:20 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.39% to 16,746.

Stocks To Watch

• Adani Power: The Competition Commission of India approved the acquisition of 100% equity of Diliigent Power and DB Power by Adani Power.

• Hero MotoCorp: The company will invest $60 million (about Rs 490 crore) in U.S.-based Zero Motorcycles to jointly develop electric motorcycles.

• Vodafone Idea: In response to clarification sought by the exchanges on reports of Indus Towers seeking payment of dues to continue services, the company said that discussions are going on over softer payment terms and are yet to be concluded.

• Adani Green: The company commissioned the world's largest wind-solar power plant of 600 MW capacity in Jaisalmer, Rajasthan.

• Lupin: The company launched Sildenafil for Oral Suspension, indicated for the treatment of pulmonary arterial hypertension, in the U.S. market. The company has also received USFDA approval for its abbreviated new drug application Mirabegron extended-release tablets.

• Maruti Suzuki/Tata Motors/Mahindra & Mahindra: Car sales volumes in India are expected to increase by 12.5% this year and another 4% in 2023, Moody’s said.

• Bajaj Electricals: The company received an order for supply of goods and services under a transmission line project from Power Grid Corporation of India, aggregating to Rs 332.65 crore.

• Zydus Lifesciences: The USFDA completed pre-approval inspection of Ahmedabad-based manufacturing facility of Zydus Animal Health and Investments, a wholly owned subsidiary of the company, and issued two observations, none of which were related to data integrity.

• Spandana Sphoorty Financial: ICRA assigned ‘[ICRA]A-; Stable’ rating on non-convertible debentures of the company worth Rs 500 crore.

• Shoppers Stop: CARE Ratings upgraded ratings for short-term bank facilities of the company to CARE A1+.

• GMM Pfaudler: The company has completed the acquisition of 46% share capital of GMM International from Pfaudler International and from Millars Concrete Technologies, now holding 100% stake in it.

• Coforge: The company received U.S. patent for its Copasys automated compliance audit and quality assurance platform which is built for banks and financial institutions.

• Ircon International: The company commissioned doubling work of 72-km-long Hajipur-Bachhwara section, including electrification. The company was appointed by East Central Railways for this work.

• Punjab National Bank: The lender will sell its entire stake in Asset Reconstruction Company (India), amounting to 10.01% of the entire shareholding of the latter.

• Rail Vikas Nigam: The company received a contract for construction of 12.25-km-long four-lane highway from Samarlakota to Achampeta Junction by NHAI as a part of Kakinada port to NH-16 connectivity in Andhra Pradesh under Bharatmala Project on EPC mode at a total cost of Rs 408 crore.

• Life Insurance Corporation of India/Deepak Nitrite: The LIC increased its shareholding in Deepak Nitrite from 4.977% to 5.028%.

• Arvind SmartSpaces: The company’s board approved the consolidation of its partnership interest in Ahmedabad East Infrastructure LLP from 51.43% to 55.24%, and profit sharing in the same from 94.25% to 98.00% upon acquisition of entire partnership interest of Arvind Infrabuild LLP in AILLP.

Bulk Deals

• JTL Infra: Sajjan Bhajanka and Sanjay Agarwal bought 3 lakh shares (0.57%) each at Rs 235 apiece.

Who’s Meeting Whom: 

• Shakti Pumps (India): To meet investors and analysts on Sept. 30. 

• PI Industries: To meet investors and analysts on Sept. 30. 

• Clean Science and Technology: To meet investors and analysts on Sept. 30. 

• Sundram Fasteners: To meet investors and analysts on Sept. 30. 

• NGL Fine-Chem: To meet investors and analysts on Sept. 30. 

• Meghmani Organics: To meet investors and analysts on Sept. 30. 

• Meghmani Finechem: To meet investors and analysts on Sept. 30. 

• Prataap Snacks: To meet investors and analysts on Sept. 30. 

• Safari Industries (India): To meet investors and analysts on Sept. 30. 

Trading Tweaks: 

• Price Band Revised From 20% To 10%: Liberty Shoes 

• Price Band Revised From 5% To 20%: Tamilnad Mercantile Bank 

• Ex-Date Annual General Meeting: Mahanagar Telephone Nigam 

• Ex-Date Bonus: Insecticides (India) 

• Move Out Of Short-Term ASM Framework: Goodluck India 

Insider Trades: 

• Maharashtra Seamless: Promoter Group Sudha Apparels bought 50,000 shares on Sept. 28. 

• Elecon Engineering Company: Promoter Group K. B. Investments bought 29,000 shares on Sept. 28. 

• Cosmo First: Promoter & Director Ashok Jaipuria bought 4,000 shares on Sept. 29. 

• Garnet International: Promoter Group Suresh Gaggar HUF sold 14,000 shares on Sept. 29. 

• Adani Enterprises: Promoter Group Spitze Trade and Investment bought 5.5 lakh shares between Sept. 26 and Sept. 27. 

• Gujarat Poly Electronics: Promoter Group Gujarat Industrial Investment Corporation sold 30,133 shares between Sept. 15 and Sept. 28. 

• Nicco Parks & Resorts: Promoter Group Nicco Engineering Services bought 9,891 shares on Sept. 26. 

• Greenply Industries: Promoter Group Showan Investment bought 27,000 shares between Sept. 27 and Sept. 28. 

• Manappuram Finance: Promoter & Director Nandakumar V P bought 1.5 lakh shares on Sept. 28. 

• Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Sept. 28. 

• Godrej Properties: Promoter Godrej Industries bought 42,000 shares on Sept. 27. 

• Godrej Agrovet: Promoter Godrej Industries bought 37,537 shares between Sept. 23 and Sept. 26.

• PSP Projects: Promoter Prahaladbhai S. Patel bought 40,000 shares on Sept. 27. 

Pledge Share Details: 

• Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 1.25 lakh shares on Sept. 27. 

• Emami: Promoter Group Sneha Enclave created a pledge of 9.09 lakh shares between Sept. 26 and Sept. 27. 

• Data Patterns (India): Promoter & Director Rekha Murthy Rangarajan invoked a pledge of 29,000 shares between Sept. 16 and Sept. 19. 

AGMs: 

• Asian Vegpro Industries 

• Brightcom Group 

• D B Realty 

• Gensol Engineering 

• HMT 

• IIFL Wealth Management  

• India Tourism Development Corporation 

• Jindal Stainless 

• Jindal Stainless (Hisar) 

• Liberty Shoes 

• PC Jeweller 

• Zee Entertainment Enterprises 

• Zee Media Corporation 

• Jindal Steel & Power

• Vardhman Textiles

• HFCL

• Gujarat Mineral Development Corporation

• Dilip Buildcon

• Indiabulls Real Estate

• Natco Pharma

• Parag Milk Foods

• Rail Vikas Nigam

Research Reports

• Cement Q2 Earnings Preview - Higher Input Cost, Insufficient Price Hike To Impact Ebitda/Tonne: IDBI Capital

• The Changing Contours Of Passenger Vehicle Financing: HDFC Securities Analysis

• Samvardhana Motherson - Macro Uncertainty Prevails, Better Switch To Motherson Sumi Wiring: ICICI Direct

• ITC Poised To Deliver Encouraging Performance Going Forward: Axis Securities

• Ipca Labs Management Meet Analysis - Profitability To Improve: Prabhudas Lilladher

• Consumer Sector Check - Food, Fuel and Forex Inflation Continues, Easing Seen In Other Inputs: