Stocks To Watch: HAL, Puravankara, Airtel, IRCTC, Indus Towers

Stocks to Watch: DIT's acquisition of American Tower Corporation's operations in India, has made it the largest mobile tower company in the country, ahead of Indus Towers.

Stocks To Watch, Friday, September 13, 2024: Markets in India were likely to start on a slightly muted to positive note, as indicated by GIFT Nifty futures, following the marginally higher inflation and manufacturing activity figures released late on Thursday.

At 6:55 AM, GIFT Nifty futures were at 25,387, around 30 points ahead of NIfty futures' last close, indicating a slight upside for the benchmark indices here at open.

That apart, Asia-Pacific markets fell on Friday, putting a halt to gains from Thursday even as Wall Street’s tech rally continued.

South Korea’s Kospi was flat, while the small cap Kosdaq was marginally lower. Japan’s Nikkei 225 fell 0.43 per cent, and the broader Topix was also down 0.58 per cent.

 

Australia’s S&P/ASX 200 was the outlier and gained 0.75 per cent, nearing its all-time high of 8,148.7.

Hong Kong's Hang Seng index futures were at 17,294, higher than the HSI’s last close of 17,240.

Futures for mainland China’s CSI 300 stood at 3,176, just slightly higher than the index’s last close, a near six-year low of 3,172.47 on Thursday.

Overnight in the US, the S&P 500 advanced 0.75 per cent, the Dow Jones Industrial Average rose 0.58 per cent, while the Nasdaq Composite saw the largest gain, rising 1 per cent.

Meanwhile, here are a few stocks likely to be in focus today:

Indus Towers, Data Infrastructure Trust: With DIT, backed by Brookfield Asset Management and other investors, acquiring American Tower Corporation's operations in India, DIT has become the largest mobile tower company in the country, ahead of Indus Towers. The acquisition includes around 76,000 telecom sites, valued at approximately $2.2 billion. DIT’s portfolio now totals 257,000 telecom sites under the new brand name Altius.

Hindustan Aeronautics: HAL is expected to be upgraded from Navratna to Maharatna status by the end of this year, granting it greater operational and financial autonomy. This upgrade will allow HAL to make project investments up to Rs 5,000 crore without government approval. HAL has seen significant growth, including a record profit of Rs 4,000 crore in Q4 FY24.

Adani Group: On Thursday night, Gautam Adani-Adani Group clarified that it is not involved in any Swiss court proceedings. The statement by the group followed allegations by Hindenburg Research that Swiss authorities had frozen over $310 million of the company's assets as part of a probe into money laundering and securities forgery. 

Puravankara: The company has acquired redevelopment rights for Miami Apartments in Breach Candy, South Mumbai, marking its entry into the luxury market. The company also expanded in Lokhandwala, Andheri West, and signed a Joint Development Agreement for a land parcel in Bengaluru’s Electronics City.

Bharti Airtel: The company has partnered with Sparkle to acquire additional capacity on the Blue-Raman Submarine Cable System, which will enhance its connectivity between Asia and Europe. This move is part of Airtel’s strategy to diversify its network and meet growing data demands.

IRCTC, LIC: Life Insurance Corporation of India has increased its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to approximately 9.3 per cent. The increase was achieved through open market purchases, raising LIC's holdings in the company to 9.3 per cent, from 7.28 per cent.

HDFC Bank: The bank is negotiating with global banks to offload up to Rs 8,400 crore in loans. This move is part of its strategy to improve its credit to deposit ratio and align its credit book with deposit levels.

Indian Hotels Company: IHCL announced plans to develop two new hotels, Vivanta and Ginger, in Chennai’s Mahindra World City. The development will cater to both business and leisure travelers, with Vivanta offering high-end amenities and the Ginger focusing on contemporary features. 

SpiceJet: THe airline has moved the Supreme Court to contest a Delhi High Court order that grounded three of its leased engines. The airline is seeking additional time to clear outstanding dues and has plans to raise significant funds to address its financial challenges.

Paytm: The company is concentrating on its core payments business and aims for profitability soon, said Vijay Shekhar Sharma, founder and chief executive officer of Paytm. The company is applying for a payments aggregator license and is leveraging advanced technologies, including AI, to enhance its services.

Honasa Consumer: Peak XV Partners, Sofina Ventures and Stellaris Venture Partners sold a combined 7.94 per cent stake in Honasa Consumer, the company behind Mamaearth, for Rs 1,276 crore. The shares were sold at Rs 495 each, with various new investors picking up portions of the stake.

Marico: Despite concerns about its exposure to Bangladesh, Marico reported strong domestic growth, with a 6.7 per cent increase in revenue and an 11.5 per cent rise in net profit for Q1 FY25. The company is focusing on expanding its food business and adjusting pricing strategies to maintain profitability.