Stocks To Watch: HDFC Bank, Adani Total, Max Health, IIFL Finance, APSEZ

Stocks to Watch: Indian markets were likely to start on a positive note on Monday, as indicated by GIFT Nifty futures that were at 25,900, around 150 points ahead of Nifty futures' last close.

Stocks to Watch, Monday, September 23, 2024: Markets in India were likely to start on a positive note on Monday, as indicated by GIFT Nifty futures that were at 25,900, around 150 points ahead of Nifty futures' last close. 

Meanwhile, markets in Asia-Pacific opened on a muted note on Monday as investors in the region digested interest rate decisions from China and Japan on Friday after the US Fed’s sharp rate cut sent markets higher last week.

Markets in Japan were closed on Monday for a public holiday, while Australia’s S&P/ASX 200 opened 0.43 per cent down.

In South Korea, the Kospi dropped 0.15 per cent and Hong Kong’s Hang Seng index futures were at 18,199, lower than the HSI’s last close of 18,258.57.

 

Futures for China CSI 300 stood at 3,183.8, lower than their last close of 3,201.05.

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

HDFC Bank: The board of HDB Financial Services (HDBFS), a subsidiary of HDFC Bank, has approved a listing of equity shares, including a fresh issue of up to Rs 2,500 crore and an offer for sale (OFS) by existing shareholders. HDBFS reported a 2.6 per cent year-on-year growth in net profit to Rs 580 crore in the June quarter, with a total loan book expanding 30 per cent year-on-year to Rs 95,600 crore.

IIFL Finance: CARE Ratings downgraded IIFL's long-term instruments rating from “AA” to “AA-” due to a decline in its gold loan book. Despite the recent lifting of RBI restrictions, the company's ability to regain market share remains a key focus.

Max Healthcare: The company is on an expansion path, aiming to add around 3,500 beds in four years. Recent acquisitions, including Alexis Hospital and Sahara Hospital, have added 750 beds to its network, strengthening its position in new geographies.

Vodafone Idea: The company is facing financial challenges after a Supreme Court ruling on AGR dues. An unexpected meeting with investors is scheduled to address recent developments. Vi has also entered a three-year, $3.6-billion deal with Nokia, Ericsson, and Samsung for network expansion, crucial for its 4G and upcoming 5G services.

Adani Total Gas: ATGL secured an initial financing of $315 million as part of a $375 million deal with international lenders to support its city gas distribution network expansion.

Mankind Pharma: The pharmaceutical major plans to raise up to Rs 10,000 crore through non-convertible debentures and commercial papers to finance its recent acquisition of Bharat Serums and Vaccines. 

Tata Steel: The company inaugurated a new blast furnace at its Kalinganagar plant in Odisha, increasing its capacity from 3 million tonnes to 8 million tonnes with a total investment of Rs 27,000 crore. This expansion increases Tata Steel's capacity in Odisha to 14.6 million tonnes. The project includes additional facilities like a pellet plant and a coke plant.

Adani Ports & SEZ: Adani Ports and Special Economic Zone (APSEZ) signed an MoU with Rorix Holdings to integrate advanced technologies into their logistics and trading platforms. This partnership aims to revolutionise commodity trading and enhance operational efficiencies. The company, led by Karan Adani highlighted that this collaboration is crucial for their goal to become a leading global transport and logistics infrastructure provider.

Reliance Infrastructure: The company announced a fundraising initiative, including Rs 1,100 crore from promoters and Rs 1,910 crore from Mumbai-based investment firms. The company plans to raise over Rs 6,000 crore through a combination of preferential allotments and QIPs. 

Religare Enterprises: Proxy advisory firm InGovern raised concern over governance issues at Religare Enterprises following the delay of its AGM. The postponement has led to frustration among shareholders, especially as it comes amid scrutiny of executive chairperson Rashmi Saluja regarding insider trading allegations.

Zee: Axis Finance, IDBI Bank, and IDBI Trusteeship Services withdrew their petitions challenging the merger of Zee Entertainment and Sony Pictures Networks India. This followed the NCLT's decision to recall its earlier approval of the merger, which aimed to create a major media entity but faced legal disputes.

Signature Global: The realty firm awarded a Rs 320 crore construction contract to ACC India for its luxury housing project in Gurugram. The project, titled "Twin Towers DXP," is anticipated to be a landmark development in the region.

Mahindra & Mahindra: THe company is advancing its electric vehicle (EV) strategy with a new manufacturing and battery plant in Chakan, Maharashtra, where it aims for 30 per cent EV penetration by 2030. The company confirmed that no additional EV facilities are planned beyond this site, which is set to produce 200,000 units annually by 2029. 

Adani Energy Solutions: AESL is projected to experience significant growth, with expected pre-tax profit growth of 29 per cent over the next three years. With a diversified portfolio including transmission, distribution, and smart metering, analysts forecast AESL's revenue to grow at a CAGR of 20 per cent from FY24 to FY27. 

DreamFolks: The lounge access provider is currently addressing service disruptions at Adani-operated airports. The company has reaffirmed its compliance with contractual obligations amid challenges. As DreamFolks works to restore operations, it’s also expanding into highway lounges and other travel services.

Punjab and Sind Bank: THe bank plans to raise up to Rs 3,000 crore through infrastructure bonds, capitalising on favorable bond yields. With significant prior fundraising activities among public sector banks, this initiative reflects the bank’s strategy to strengthen its capital base. 

HFCL: The company has been selected by General Atomics to develop critical subsystems for unmanned aircraft systems, marking a significant milestone in its defense technology capabilities.