Stocks To Watch Today: Bharti Airtel, LIC, M&M, Mahindra CIE, NDTV, Power Grid, Torrent Pharma
Stocks to watch before going into trade today.
Asian equities followed US shares lower after hawkish comments from Federal Reserve officials, while the dollar touched a fresh high after a White House official ruled out a currency agreement to weaken the greenback.
A gauge of Asian stocks fell as markets in Japan, Hong Kong and Australia dropped from the open. US futures dropped after the S&P 500 capped its worst run since early 2020.
At 8:50 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 1.12% (191 points) to 16,847 points.
The offshore yuan fell to a record low as sentiment was damped by the US Fed’s tightening stance. The pound and the euro also slipped while the yen held steady versus the greenback. The Bloomberg Dollar Spot Index rose 0.3%.
Bitcoin traded near $19,000 levels even as gold rose to $1,625 an ounce.
Stocks To Watch
Torrent Pharma: The Ahmedabad-based drugmaker has agreed to fully acquire sunscreen lotions-to-baby-soap maker Curatio Healthcare (I) Pvt. for Rs 2,000 crore as it strengthens its dermatology portfolio.
Bharti Airtel: Promoter Bharti Telecom has acquired 19 crore shares, equivalent to 3.2% stake, of Bharti Airtel from affiliates of Singtel. The promoter now holds 38.62% equity in the telecom firm.
J&K Bank: Care Ratings has assigned ‘CARE A +, Stable’ rating to Tier II bonds (Basel III) of Rs 1,500 crore.
NDTV: SEBI has reportedly filed before the Supreme Court of India civil appeals against NDTV, founder-promoters Prannoy Roy and Radhika Roy and RRPR Holding Ltd. These appeals are against a July 20 SAT order, which found that there was no indirect transfer of control of NDTV by the founder-promoters via loan arrangements in 2009-10.
KPI Green Energy: Received a new repeat order for executing solar power project of 1.40 MW capacity from MS Synthetics under captive power producer business segment.
Mahindra & Mahindra: The company has acquired 21.14 lakh shares, equivalent to 17.41% of the paid-up equity share capital, of Swaraj Engines from Kirloskar Industries to become a majority shareholder.
Adani Enterprises: The company has raised Rs 100 crore via non-convertible debentures on private placement basis.
Axis Bank: The bank has agreed to invest in two tranches Rs 49.90-69.90 crore in Go Digit Life Insurance by way of equity shares. The lender is looking to acquire an equity stake of up to 9.94% in Go Digit.
Mahindra CIE Automotive: M&M has sold 82.42 lakh shares, or 2.17% stake, in Mahindra CIE Automotive in a large trade.
HG Infra Engineering: Subsidiary HG Khammam Devarapalle Pkg-1 has received financial closure from NHAI for a greenfield highway project.
BHEL: The company has received an NTPC order to set up 2x660 MW Talcher Thermal Power Project Stage-III on engineering, procurement and construction basis.
Power Grid: The company will invest Rs 327.71 crore to build a power transmission project connecting Reliance Industries’ Jamnagar Refinery with Jamkhambhaliya ISTS PS.
LIC: The company has increased its shareholding in BPCL from 15.25 crore to 19.61 crore shares -- equivalent to 9.04% stake.
Supriya Lifesciences: CEO Dr. Shireesh Ambhaikar has resigned due to his personal reasons. He has agreed to extend his services on a retainership basis for two years effective Oct. 1, 2022. He will be succeeded by Rajeev Kumar Jain.
Motherson Sumi Wiring India: The board of the company will meet on Sept. 30 to consider and approve a bonus share issue.
Bank of India: Invests Rs 10 crore for 5.5% stake in ONDC.
Oracle Financial Services: Oracle Corp. to pay $23 million on foreign corruption charges.
Reliance Industries: Launches fashion store format Reliance Centro.
Dish TV India: L&T Finance sold 2.66 crore shares (1.44%) at Rs 15.96 apiece. Uno Metals sold 1.6 crore shares (0.87%) at Rs 15.68 apiece.
Embassy Office Parks REIT: Kotak Performing RE Credit Strategy Fund-I bought 4.64 crore shares (4.89%) at Rs 345 apiece.
Safari Industries (India): DSP Mutual Fund has bought 2 lakh shares (0.84%) and Investcorp Private Equity Fund II sold 5 lakh shares (2.11%) at Rs 1,529.75 each.
TD Power Systems: Nippon India Mutual Fund sold 1.7 lakh shares (0.54%) at Rs 586.99 apiece.
Mahindra CIE Automotive: Participaciones Internacionales Autometal Dossociedad Limitada bought 87.2 lakh shares (2.3%) at Rs 284.88 apiece. M&M sold 82.42 lakh shares (2.17%) at Rs 285 apiece.
Godrej Agrovet: Unifi Capital bought 9 lakh shares (0.47%) and V-Sciences Investments sold 9 lakh shares (0.47%) at Rs 501 each.
Safari Industries (India): DSP Mutual Fund bought 2 lakh shares (0.84%), Sundaram Mutual Fund bought 80,000 shares (0.34%), Invesco Mutual Fund bought 65,500 shares (0.28%), Ashoka India Equity Investment Trust bought 1.18 lakh shares (0.5%), Whiteoak Capital Mutual Fund bought 65,500 shares (0.28%), ICICI Prudential Life Insurance Company bought 75,000 shares (0.32%), Motilal Oswal Asset Management Company sold 1.04 lakh shares (0.44%), Investcorp Private Equity Fund II sold 5 lakh shares (2.11%) at Rs 1,529.75 each.
Who's Meeting Whom
Can Fin Homes: To meet investors and analysts on Sept. 28.
IZMO: To meet investors and analysts on Sept. 28.
Dr. Reddy's: To meet investors and analysts on Sept. 28-29.
Abbott India: To meet investors and analysts on Sept. 28.
ICICI Bank: To meet investors and analysts on Sept. 28.
Container Corp. of India
Steel Authority of India
Sandur Manganese & Iron Ores
Shipping Corporation of India
Ex-Date Bonus: Bharat Gears
Move Out Of Short-Term ASM Framework: Savita Oil
Maharashtra Seamless: Promoter Saket Jindal bought 11,300 shares on Sept. 22.
NCL Industries: Promoter Group Utkal B Goradia bought 7,000 shares on Sept. 26.
Cosmo First: Promoter & Director Ashok Jaipuria bought 8,000 shares on Sept. 27.
Adani Enterprises: Promoter Group Spitze Trade and Investment bought 6 lakh shares between Sept. 22 and Sept. 23.
Vinyl Chemicals (India): Promoter Rashmikant Himatlal Parekh sold 8,573 shares on Sept. 23.
Nicco Parks & Resorts: Promoter Group Nicco Engineering Services bought 4.25 lakh shares between Sept. 22 and Sept. 23.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Sept. 26.
Renaissance Global: Promoter & Director Sumit N. Shah bought 43,000 shares on Sept. 23.
Godrej Agrovet: Promoter Godrej Industries bought 25,016 shares between Sept. 21 and Sept. 22.