Stocks To Watch: L&T, Tata Steel, LTIMindtree, Exide, Bajaj Finserv, Rishabh Instruments, MDL

Stocks in Asia were set to follow a big tech-led drop on Wall Street amid concern over how a Chinese ban on Apple Inc.’s iPhone could impact the industry that has driven this year’s market rally. The dollar strengthened and Treasuries rose.

Contracts for equity benchmarks in Japan and Hong Kong declined, while those for Australia and the U.S. were flat in early Asian trading. The Nasdaq 100 fell Thursday as Apple slid about 6.5% in two days, wiping out $190 billion in value, while an advance in defensive groups sent the S&P 500 away from session lows.

Meanwhile, Brent Crude prices slipped below $90 a barrel, WTI Crude was below $87-mark. The yield on the 10-year U.S. bond was trading at 4.24% and Bitcoin was below 27,000-level.

At 5:18 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at at 19,862.5.

India's benchmark stock indices reversed losses to end higher for the fifth session on Thursday. The Nifty ended above 19,700 and the Sensex closed beyond the 66,000 mark for the first time since Aug. 1. Five days of advance were the longest in eight weeks since the July 13–July 19 period.

The real estate and PSU banking sectors led, whereas fast-moving consumer goods and pharmaceutical shares were under pressure.

Overseas investors remained net sellers of Indian equities on Thursday for the fourth consecutive session. Foreign portfolio investors offloaded stocks worth Rs 758.55 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors turned net buyers and mopped up equities worth Rs 28.11 crore, the NSE data showed.

The local currency weakened 7 paise to close at its all-time weakest level of Rs 83.21 against the U.S. dollar on Thursday.

Larsen & Toubro: The company has won a contract worth Rs 32,400 crore for Phase II of Saudi Aramco's Jafura unconventional gas development project, according to a Morgan Stanley note. The order entails two packages, including the development of a gas processing plant with main processing units and the construction of gas compression units.

Tata Steel: The steelmaker's unit Tata Steel Special Economic Zone has tied up with AVAADA Group to set up a green hydrogen and ammonia manufacturing unit in Odisha.

LTIMindtree: The IT company has launched two industry solutions — AdSpark and Smart Service Operations — to accelerate the time-to-market for businesses on the Salesforce platform.

Mazagon Dock Shipbuilders: The company has signed a Master Ship Repair Agreement with the U.S. government. The agreement is expected to open-up voyage repairs of US Navy Ships at MDL.

Exide Industries: The company plans to invest Rs 100 crore in subsidiary Exide Energy Solutions via rights issue. The unit is involved in manufacturing of advanced chemistry battery cells.

JB Chemicals & Pharmaceuticals: Lakshay Kataria to resign as CFO effective Nov. 30.

Bajaj Finserv: Subsidiary Bajaj Allianz General Insurance reported gross direct premium underwritten for August at Rs 1,677.87 crore, and the premium in the current financial year up to August at Rs 9,228.81 crore. Bajaj Allianz Life Insurance's total premium for August stood at Rs 926.41 crore and premium in the current financial year up to August at Rs 3,828.06 crore.

Shemaroo Entertainment: The company's MD, CEO and CFO have been granted bail on Thursday after tax authorities carried out search operation and detained them earlier this week. The company said it is contesting allegations in accordance with law.

Campus Activewear: Piyush Singh resigned as COO with effect from Dec. 2.

Sterlite Technologies: The company has partnered with TruVista, a provider of broadband services and applications, to drive the growth and enhancement of South Carolina's rural connectivity infrastructure. TruVista is investing over $12 million in rural broadband, a significant portion of which will be dedicated to South Carolina.

Jupiter Life Line Hospitals: The IPO has been subscribed 3.30 times on its second day. The bids were led by non-institutional investors, subscribed 6.63 times, retail investors, subscribed 3.08 times, and institutional investors, subscribed 1.12 times. The IPO was subscribed 87% on day 1.

EMS: The water and sewerage infra player's IPO opens on Friday. It comprises fresh issue of equity shares worth Rs 146.24 crore and an Offer For Sale of 82.94 lakh shares by promoter and founder Ramveer Singh. It has raised Rs 96.37 crore from anchor investors.

DB Realty: Promoter Shravan Kumar Bali sold 20,000 shares on Sept. 6.

Usha Martin: Promoter Usha Martin Ventures sold 3 lakh shares between Sept. 5 and 6.

Sapphire Foods: Promoter Sagista Realty Advisors sold 1.1 lakh shares between Sept. 5 and 7.

Info Edge (India): Promoter Endeavour Holding sold 41,000 shares between Sept. 5 and 6.

Tatva Chintan Pharma Chem: Promoters Ajay Mansukhlal Patel sold 2.1 lakh shares, Shekhar Rasiklal Somani and Darshana Nitinkumar Shah each sold 2.33 lakh shares and Priti Ajay Patel sold 20,211 shares on Sept. 6.

Bombay Dyeing, Ion Exchange (India), Jain Irrigation Systems, NCC, Patel Engineering, PNB Gilts, Sansera Engineering, Syrma SGS Technology, Triveni Turbine, Triveni Engineering & Industries, Vakrangee, Vinati Organics.

Page Industries: To meet investors and analysts on Sept. 14.

• Ex-date Dividend: Venky's (India), Taj GVK Hotels & Resorts, Polyplex Corp, Gujarat Industries Power Co, GMR Airports Infrastructure, Jay Bharat Maruti, JBM Auto, Sarda Energy & Minerals, Responsive Industries, MOIL, Agarwal Industrial Corp, Fineotex Chemical, General Insurance Corp of India, NACL Industries, Zen Technologies, Housing & Urban Development Corp, RITES, New India Assurance Co, Max Healthcare Institute, Tatva Chintan Pharma Chem, Macrotech Developers.

• Ex-date AGM: Taj GVK Hotels & Resorts, Polyplex Corp, Ramkrishna Forgings, Jay Bharat Maruti, JBM Auto, Responsive Industries, SML Isuzu, V-Mart Retail, Sunflag Iron And Steel Co, Fineotex Chemical, NACL Industries, Zen Technologies, RITES, Solara Active Pharma Sciences, Sportking India, Gateway Distriparks, Kaynes Technology India, Tatva Chintan Pharma Chem, GMR Power and Urban Infra, Hindustan Foods, Macrotech Developers.

• Record-date Dividend: Venky's (India), Taj GVK Hotels & Resorts, Sarda Energy & Minerals, MOIL, Fineotex Chemical, General Insurance Corp of India, Zen Technologies, Housing & Urban Development Corp, New India Assurance Co, Max Healthcare Institute, Tatva Chintan Pharma Chem, Macrotech Developers.

• Move Into Short-Term ASM Framework: Kopran, National Peroxide.

• Move Out Of Short-Term ASM Framework: BF Utilities, D. P. Abhushan, Filatex India, Gokaldas Exports.

• Nifty September futures ended at 19,767.90, a premium of 109.05 points.  

• Nifty September futures rose 5.44%, with 10,448 shares in open interest.  

• Nifty Bank September futures ended at 45,053.20, a premium of 409.15 points.  

• Nifty Bank September futures fell 2.51% with 3,475 shares in open interest.  

• Securities in the ban period: Indiabulls Housing Finance, Balrampur Chini Mills, Bharat Heavy Electricals, Delta Corp, Hindustan Copper, India Cements, Manappuram Finance, Steel Authority of India, Punjab National Bank.

EMS IPO - Investment Rationale, Issue Details, Business Strategies, Financials, Key Risks: HDFC Securities

Lemon Tree - Best Placed To Ride The Industry Upcycle: Prabhudas Lilladher Initiates Coverage With A 'Buy'

Crompton Greaves - Well Placed To Reap The Benefits Of Upturn In The Industry: HDFC Securities

Bajaj Finance - Omni-Channel Transformation To Drive Market, Profit Share: Motilal Oswal

KEC International - Take-Off Ready After Repairs; Upgrade To 'Buy': Yes Securities

Birla Corp - Performance Set To Improve; Maintain 'Buy': Axis Securities

Indian Paint Industry To Grow 9-10% In FY24, Operating Margin To Rise 100-200 Basis Points: CareEdge Analysis

RBL Bank - Improving Share Of Retail Asset, Liability Mix A Key Focus Area: Nirmal Bang