Stocks To Watch: SpiceJet, Maruti Suzuki, Reliance, M&M, Lemon Tree

SpiceJet has reached a deal with Carlyle Group's commercial aviation unit to write off a $40.2 million payment obligation and a $30 million conversion of arrears into equity.

Stocks To Watch, Wednesday, September 11, 2024: Markets were likely to start on a flat note with a negative bias, as indicated by GIFT Nifty futures, following muted sentiment flowing from the Asian markets.

At 6:45 AM, GIFT Nifty futures were trading at 25,089, marginally ahead of Nifty futures' last close of 25,083.

Meanwhile, markets in the Asia-Pacific region opened lower on Wednesday despite gains on the Wall Street ahead of the US August consumer inflation report due Wednesday.

Japan’s Nikkei 225 shed 0.7 per cent and the Topix was 0.86 per cent lower, while South Korea’s Kospi slipped 0.20 per cent. However, the small-cap Kosdaq rose 1.61 per cent.

 

Meanwhile, Australia’s S&P/ASX 200 was marginally higher and Hong Kong's Hang Seng index futures were at 17,072, lower than the HSI’s last close of 17,190.

Overnight in the US, stocks wavered through Tuesday’s trading session, with two of the three major US indices ending in the green.

The S&P 500 gained 0.45 per cent and the Nasdaq Composite closed 0.84 per cent higher, while the Dow Jones Industrial Average closed 0.23 per cent lower.

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

SpiceJet: The airline has reached a deal with Carlyle Group's commercial aviation unit to write off a $40.2 million payment obligation and a $30 million conversion of arrears into equity. This move is set to increase Carlyle’s stake in SpiceJet and could boost the airline’s financial stability. 

Maruti Suzuki India: As the company gears up to launch its first electric vehicle (EV) in January 2025, it plans to address key consumer concerns including range anxiety, charging infrastructure, and resale value. 

L&T: L&T Semiconductor Technologies, an arm of L&T, has entered into a strategic partnership with IBM to advance processor design for edge devices and hybrid cloud systems. The collaboration aims to develop India's semiconductor tech ecosystem and is expected to drive innovation in computing applications. 

Reliance Industries: Reliance Retail Ventures, the retail business of RIL, has formed a 50/50 joint venture with Delta Galil Industries to enhance its apparel offerings in India. This partnership aims to bring innovative intimate and activewear products to the Indian market. 

Mahindra & Mahindra: The company has responded to allegations from the Congress party regarding preferential treatment related to market regulator Sebi and its chief. The company has firmly denied these claims and highlighted its commitment to corporate governance standards. 

Vodafone Idea: Vodafone Idea is still facing significant challenges securing loans from public-sector banks due to its liabilities and the lack of a clear capital expenditure plan, despite raising significant equity funds. 

Century Textiles and Industries: The Aditya Birla group company has acquired a 10-acre land parcel in Mumbai with significant development potential from the Wadia Group. The deal boosts the company’s landholding and booking value potential. 

Lemon Tree Hotels: The company has signed a license agreement for a new property, Lemon Tree Hotel, Mira Road, Mumbai. Scheduled to open in FY26, this hotel, with 108 rooms, a restaurant, bar, meeting room, swimming pool, and a spa catering to both business and leisure travelers, will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels. 

HDFC Bank, Axis Bank: Both the banks have been penalised by the Reserve Bank of India for various regulatory non-compliances. HDFC Bank faces a Rs 1 crore penalty, while Axis Bank has been fined Rs 1.91 crore. 

Coal India: The company is set to invest approximately Rs 67,000 crore in developing coal-fired power plants near its mining operations. This move, which includes 4.7 gigawatts of planned generation capacity over the next six to seven years, underscores the ongoing reliance on coal for India's power needs.