Stocks To Watch: Infosys, Wipro, NTPC, IRCTC, Tata Power, Dmart, Trent, KEC International, RR Kabel, Vakrangee
Here are the stocks to watch before going into trade today.
Asian equities look set for a cautious open on Wednesday as global markets gear up for a key inflation report that’s expected to bring insights on the outlook for the Federal Reserve’s benchmark interest rate. Oil held gains amid strains in global supplies.
Futures for Japanese and Australian shares pointed to marginal declines while contracts for Hong Kong rose slightly and a gauge of U.S.-listed Chinese companies was little changed.
A rout in technology companies dragged down the U.S. stock market, with the Nasdaq 100 falling 1.1%. Apple Inc., which unveiled the iPhone 15 and other products, dropped almost 2%. The S&P 500 slid 0.6%.
Meanwhile, Brent Crude prices were above $92 a barrel. It rose as much as $92.40 a barrel intraday on Tuesday, the most in nearly 10 months since Nov. 17, 2022. WTI Crude was above $88-mark. The yield on the 10-year U.S. bond was trading at 4.28% and Bitcoin was below 26,000-level.
At 05:21 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 21 points or 0.10% at 20,148.
The Consumer Price Index-based inflation in India stood at 6.83% in August, as compared with 7.44% in July, according to data from the Ministry of Statistics and Programme Implementation released on Tuesday. The July figures were the highest in 15 months.
India's benchmark stock indices swung between gains and losses on Tuesday after the Nifty scaled a fresh all-time high of 20,110.35 points in early trade. The indices closed mixed, as the Sensex was just shy of its all-time high by over 300 points, despite its peers scaling fresh highs for the second day.
The market snapped seven sessions of gains, which was the best stretch of gains in over 11 weeks since June 26, 2023. While the media, real estate, energy, and metal sectors were under pressure, I.T. stocks rose, and the pharma sector was marginally higher. Broader market indices, on the other hand, fell the most in a single day after eight months of record highs.
Overseas investors turned net sellers of Indian equities after a day on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 1,047.19 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors remained net buyers and bought equities worth Rs 259.48 crore, the NSE data showed.
The local currency strengthened 11 paise to close at 82.92 against the U.S. dollar on Tuesday.
Stocks To Watch
NTPC: The power company completed trail operation of Unit-1 of 800 MW capacity of Stage-I of Telangana Super Thermal Power Project and consequently included it in its installed capacity. With this, the installed capacity of NTPC and NTPC group has become 57,838 MW and 73,824 MW, respectively.
Infosys: The IT major has tied-up with STARK Group, Europe’s largest retailer and distributor of building materials, to establish a state-of-the-art data center in Denmark, which will serve as the foundation to drive technological advancements with an ‘AI first’ approach powered by Infosys Topaz.
Wipro: Wipro Holdings (UK) has transferred 100% shareholding in Wipro 4C NV to Wipro IT Services UK Societas, effective Sept 12. Wipro Holdings (UK) and Wipro IT Services UK Societas are wholly-owned subsidiaries of the company, while Wipro 4C NV is the step-down subsidiary. The rationalisation and simplification of the overall group structure is the objective behind the stake transfer.
IRCTC: The company signed an MoU with NBCC Services for planning, designing and execution of interior works for its upcoming office space in Delhi. The cost project is Rs 31.4 crore.
Tata Power: Subsidiary Tata Power Solar Systems signed an MoU with Small Industries Development Bank of India to finance MSMEs for solar adoption.
Mahindra and Mahindra: Company has been fined Rs 1,69,949 by the Assistant Commercial Taxes Department, Begumpet Division, Hyderabad for not reversing VAT ITC, as per an exchange filing. It also added that it is hopeful for a favourable outcome at the appellate level.
Avenue Supermarts: The retailer has opened a new store at Perungudi, Tamil Nadu, taking the total number of stores to 334.
Mining companies: To boost exploration of critical minerals, the government has announced an incentive of 25% of the approved project cost will be extended to Exploration Agencies. This incentive will be provided through National Mineral Exploration Trust and will help in the discovery of critical minerals in the country. Exploration agencies from both public and private sectors can avail this financial incentive on successful discovery of critical minerals in the projects.
Trent: Booker India, a subsidiary of the company, has acquired approximately 4.95% of the equity share capital of its subsidiary, Fiora Online from a shareholder. The cost of acquisition is Rs 4.1 crore.
KEC International: The company secured new orders of Rs 1,012 crore across its various businesses in its civil, transmission and distribution, and cables segments.
The Phoenix Mills: The company has incorporated a wholly owned subsidiary, Orcus Logistics and Industrial Parks.
RITES: The company signed an MoU with CFM Angola for cooperation in the development of railways and related infrastructure, including the supply of rolling stock.
CRISIL: The company has entered into a definitive agreement to acquire renewable energy consulting and knowledge services provider Bridge To India Energy at a consideration of Rs 6 crore. The acquisition is expected to close in the next three months.
GMR Power and Urban Infra: The company increased its stake from 82% to 100% in GMR Smart Electricity Distribution from its subsidiary, GMR Generation Asset for Rs 5 lakh.
GE Power: The company received a purchase order from Vedanta for the combustion modification of boiler. The base value of the order is Rs 25 crore and the time period for execution is 14 months.
Vakrangee: The company will acquire 8.8% equity stake in Vortex Engineering from International Finance Corporation. Through this acquisition, Vakrangee will have cumulative shareholding of 57.3%.
Waaree Renewable Technologies: The company received a letter of intent for engineering, procurement and construction services for setting up a solar power project of 52.6 MWp capacity. The project is expected to be completed in FY24.
IPO Offerings
RR Kabel: The company will launch its initial public offering on Wednesday, and the offer will be open till Friday. The Mumbai-based wire and cable manufacturer plans to raise Rs 180 crore via a fresh issue, and Rs 1,784 crore through an offer for sale. The price band is fixed at Rs 983 to Rs 1,035 apiece.
RR Kabel IPO: All You Need To Know
Block Deals
L&T Finance Holdings: BC Investments VI sold 2.37 crore shares (0.95%), and BC Asia Growth Investments sold 4.62 crore share (1.86%), while BNP Paribas Arbitrage bought 3.63 crore shares (1.46%), SBI Life Insurance bought 1.46 crore (0.6%), DSP Blackrock Mutual Fund bought 1.17 crore (0.5%), Bajaj Allianz Life Insurance bought 31 lakh shares (0.12%), Axis Mutual Fund bought 19 lakh shares (0.07%) at Rs 130 apiece, among others.
Bulk Deals
Shyam Metalics and Energy: Setu Securities sold 16 lakh shares (0.63%) at Rs 441.69 apiece.
Insider Trades
Paisalo Digital: Promoter Equilibrated Venture Cflow bought 1.99 lakh shares on Sept 12.
Som Distilleries & Breweries: Promoters Deepak Arora and Jagdish Kumar Arora sold 10,000 shares each on Sept 11.
Usha Martin: Promoter Rajeev Jhawar bought one lakh shares on Sept 8.
KPI Green Energy: Promoter Farukbhai Gulambhai Patel sold 6,100 shares on Sept 12.
Dr. Lal PathLabs: Promoter Dr Arvind Lal sold 10,000 shares on Sept 8.
Ultramarine & Pigments: Promoters Deepa Ajay sold 6,582 shares and S Narayan sold 2,000 shares on Sept 8.
Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 1.25 lakh shares between Sept. 8 to Sept. 11.
Star Cement: Promoter Laxmi Chamaria sold 30,250 shares on Sept 8.
Pledge Share Details
Kuantum Papers: Promoter Kapedome Enterprises revoked a pledge of 2.61 crore shares on Sept. 12.
AGMs Today
Bharat Rasayan, Metro Brands, Shipping Corporation of India, Varroc Engineering.
Who's Meeting Whom
Jindal Stainless: To meet investors on Sept. 15.
Parag Milk Foods: To meet analysts and investors on Sept. 15.
Inox Wind: To meet investors and analysts on Sept. 15.
Sterling & Wilson Renewable Energy: To meet investors and analysts on Sept. 15.
Trading Tweaks
Ex-date Dividend: Alicon Castalloy, Gokaldas Exports, Hester Biosciences, Hinduja Global Solutions.
Ex-date AGM: India Nippon Electricals, Alicon Castalloy, Gokaldas Exports, Hester Biosciences, Hinduja Global Solutions, SEPC, Sandur Manganese & Iron Ores.
Record-date Dividend: Vijaya Diagnostic Centre, Sandur Manganese & Iron Ores.
Move Into Short-Term ASM Framework: Vodafone Idea, Transformers And Rectifiers.
Move Out Of Short-Term ASM Framework: HLV, Pokarna, UFLEX.
F&O Cues
Nifty September futures ended at 20,037.30, a premium of 0.60 points.
Nifty September futures rose 0.51%, with 1,011 shares in open interest.
Nifty Bank September futures ended at 45,625.00, a discount of 72.85 points.
Nifty Bank September futures fell 0.56% with 716 shares in open interest.
Securities in the ban period: Bharat Heavy Electricals, Chambal Fertilizers & Chemicals, Indiabulls Housing Finance, India Energy Exchange, Delta Corp, Hindustan Copper, India Cements, Manappuram Finance, Steel Authority of India, National Aluminium Company.
