Stocks To Watch Today: ACC, Adani, Ambuja Cements, HDFC Life, Maruti Suzuki, Zomato
Stocks to watch going into trade today.
Investors will head into the week fearing more pain after India's stock benchmarks logged their worst week since the week-ended June 17, 2022, predominantly due to sharp slide on Friday.
The indices tracked a drop in global equities, as the U.S. indices also fell to the worst week in months. Investors will keenly track the upcoming U.S. Federal Reserve monetary policy meeting, with another aggressive rate hike expected.
Closer home, the markets will also gauge RBI's September policy. The rupee also fell this week, ending at 79.74 on Friday.
At 6:10 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.24% to 17,606 points.
Stocks to Watch
ACC/Adani Enterprises/Ambuja Cements: Adani Enterprises has completed the acquisition of ACC and Ambuja Cements Ltd. and reconstituted their boards, with billionaire Gautam Adani's son -- Karan Adani -- at the helm. Ambuja Cements also plans to raise Rs 20,000 crore via convertible debentures.
ONGC/Reliance Industries/Vedanta: India has reduced windfall tax on domestically produced crude oil as well as cut export duty on diesel and aviation turbine fuel.
HDFC Life Insurance: National Company Law Tribunal has sanctioned the scheme of amalgamation between Exide Life Insurance and HDFC Life Insurance.
GIC of India: Madhulika Bhaskar has taken charge as general manager of the insurer after Girija Subramanian was relieved from the post to assume her duties as chairman-cum-managing director of Agriculture Insurance Company of India.
Maruti Suzuki: India's largest carmaker has recalled 5,002 units of its Super Carry LCV to fix potential issues with a bolt attached to seat belt buckle bracket of co-driver seat.
Zomato: Blinkit has partnered with Indian Apple reseller Unicorn for quick deliveries of Apple iPhones and accessories. The service will be available in Delhi and Mumbai for now.
Shree Renuka Sugars: The company expanded capacity for ethanol production, from 720 KLPD to 1250 KLPD and is expected to go on stream by December 2022.
AIA Engineering/SAL Steels: SAL Steels has entered into supply agreement for three years with AIA Engineering for supply of Ferro Chrome to AIA on non-exclusive basis.
Mahindra & Mahindra: Ontario Teachers’, one of the world’s largest pension plans, will acquire a 30% stake in Mahindra Susten at an equity value of Rs 2,371 crore.
Initial Public Offering
Harsha Engineers International: The initial public offering was subscribed 74.65 times on the final day.
Ultramarine & Pigments: Promoter Group Deepa Ajay sold 7,697 shares and Promoter Daya Sridhar sold 7,704 shares between Sept. 15 and Sept. 16.
Usha Martin: Promoter Peterhouse Investments sold 75,000 shares on Sept. 16.
Mayur Uniquoters: Promoter Dolly Bagaria sold 1.55 lakh shares on Sept. 14.
Apcotex Industries: Promoter Groups Aquamarine Trading and Investments and Hiloni Ankur Choksey bought 430 shares each on Sept. 15.
Zydus Wellness: Promoter Group Zydus Family Trust bought 9,767 shares on Sept. 15.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Sept. 15.
Sasken Technologies: Promoter Group Arti Mody bought 917 shares and Promoter & Director Pranabh D. Mody bought 1,262 shares on Sept. 16.
DB Corp: Promoter DB Consolidated bought 1.43 lakh shares between Sept. 12 and Sept. 14.
Star Cement: Promoter Group Suchita Agarwal bought 11,543 shares on Sept. 13 and Sept. 14.
HDFC Life Insurance: Promoter abrdn (Mauritius Holdings) 2006 sold 4.3 crore shares on Sept. 13.
Who’s Meeting Whom:
Hero MotoCorp: To meet investors and analysts on Oct. 7.
Sansera Engineering: To meet investors and analysts on Sept. 19.
Aditya Birla Sun Life AMC: To meet investors and analysts on Sept. 19.
HealthCare Global Enterprises: To meet investors and analysts on Sept. 19.
Apar Industries: To meet investors and analysts on Sept. 23.
Lemon Tree Hotels: To meet investors and analysts on Sept. 19.
BLS International: To meet investors and analysts on Sept. 19.
ADF Foods: To meet investors and analysts on Sept. 21.
Radico Khaitan: To meet investors and analysts on Sept. 19.
Record-Date Dividend: Aarti Industries
Record-Date Final Dividend: Shyam Metalics and Energy
Ex-Date Final Dividend: Alicon Castalloy, Apollo Pipes, Balmer Lawrie and Company, DCW, Filatex India, Gulshan Polyols, Indo Count Industries, Jindal Worldwide, Mazagon Dock Shipbuilders, Mazagon Dock Shipbuilders, Medicamen Biotech, Neogen Chemicals
Ex-Date Special Dividend: Pfizer
Ex-Date Final Dividend: Prestige Estates Projects, Psp Projects, Rushil Décor, Shalby, Shivalik Bimetal Controls, TD Power Systems, TV Today Network
Ex-Date Dividend: Bharat Bijlee, Birla Corporation, Gujarat Narmada Valley Fertilizers & Chemicals, Garware Hi-Tech Films, Jindal Saw, LIC Housing Finance, Multi Commodity Exchange of India
Move Into Short-Term ASM Framework: EIH
Move Out Of Short-Term ASM Framework: Tata Investment Corp.