 "Markets, market valuation, stocks, Sensex, Adani Group")
Equity benchmark indices are staring at a muted start on Monday amid sombre global mood. At 7:30 am, the Gift Nifty futures were largely flat, quoting at 19,300.
On Friday, US markets ended mixed with NASDAQ Composite and the S&P 500 indices declining up to 0.2 per cent. Dow Jones, however, closed marginally higher.
Asia-Pacific markets were also mixed this morning as Nikkei 225, Topix, and Kospi indices rose up to 0.4 per cent. Hang Seng index shed 1.5 per cent after China’s central bank cut its one-year loan prime rate to 3.45 per cent but left its five-year rate unchanged, disappointing investors.
Meanwhile, here are some stocks to watch out in trade today:
Jio Financial Services: The demerged financial services entity of Reliance Industries will be listed on the exchanges today. Experts believe the stock could top the Rs 300-mark on listing. The exchanges in their circular said the scrip would be in Trade-for-Trade segment for 10 trading days. Moreover, the shares will likely witness selling pressure from exchange traded funds (ETFs) and index funds. READ
Titan Company: The company has announced that it will buy an additional 27.1 per cent stake in CaratLane, for a total consideration of Rs 4,621 crore. Upon completion of the deal, Titan will hold 98.28 per cent of equity in CaratLane—a private company engaged in the manufacture and sale of jewellery. READ
Gujarat Gas: The company has hiked industrial gas price to Rs 40.83 per scm from Rs 38.43/scm with effect from today, reported CNBC-TV18. This is the first price hike after 5 consecutive price cuts by Gujarat Gas in 2023, the report said.
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Tanla Platforms: The company, which had entered into a 2 year long term sheet with Vodafone Idea for provision of platform and firewall services for international A2P services in November 2021, said this partnership will not continue beyond the initial term, adding this would have a revenue impact of Rs 17 crore and PAT impact of Rs 9 crore on a full-quarter basis post November 2023.
KEC International: The RPG Group company has secured new orders worth Rs 1,007 crore across its various businesses. The civil business has secured its first order for design, engineering, procurement and construction of a multi-speciality hospital in India, while transmission & distribution business has secured a substantial order for a 380 kV overhead transmission line project in the Middle East.
Carborundum Universal, Cholamandalam Investment, Coromandel, EID, Tube Investments, CG Power etc: The Murugappa group stocks will be in focus as the family has announced an amicable settlement of all outstanding legal disputes and differences with Valli Arunachalam, scion of the MV Murugappan family branch. The resolution was reached through a family arrangement, the terms of which were concluded in the presence of advisers, bringing an end to a prolonged legal battle that began in early 2020.
Mahindra & Mahindra: The SUV manufacturer has announced proactive inspection of select XUV products.
Ashok Leyland: The company would be issuing a corporate guarantee of GBP 82.10 million or Rs 870 crore to cover the lender facilities of UK two subsidiaries— Optare and Switch Mobility.
United Spirits: The company signed an extra-neutral alcohol manufacturing contract with Capovitez for a tenure of three years. It covers provisions such as purchase of grain and sale of ENA, delivery, storage, quality in service, material’s price and payment, confidentiality, etc.
PNB Housing Finance: PNB Housing Finance resolved and fully recovered corporate Non-performing account of Rs 784 cr. The Gross NPA of the Company stood at Rs 2,270 cr and Loan Asset was Rs 60,395 cr as on June 30, 2023.
Zomato: The stock may remain in focus amid market speculation around possible exits by some pre-IPO shareholders (VC/PE/Chinese investors) of the company as well as erstwhile shareholders of Blinkit who had received it under a share swap deal, according to analysts at JM Financial, said a CNBC-TV18 report.
PNB Housing Finance: PNB Housing Finance resolved and fully recovered corporate Non-performing account of Rs 784 cr. The Gross NPA of the Company stood at Rs 2,270 cr and Loan Asset was Rs 60,395 cr as on June 30, 2023.
Zomato: The stock may remain in focus amid market speculation around possible exits by some pre-IPO shareholders (VC/PE/Chinese investors) of the company as well as erstwhile shareholders of Blinkit who had received it under a share swap deal, according to analysts at JM Financial, said a CNBC-TV18 report.
NMDC: The government has extended the tenure of appointment of Amitava Mukherjee as Director (Finance) on the NMDC board with effect from November 20, 2023, till February 29, 2028. Mukherjee was appointed as Director (Finance) on the board for five years with effect from November 11, 2018 or till the date of his superannuation or until further orders, whichever is earliest.
GMR Airports Infrastructure: The company said that its passenger traffic in July increased by 30 per cent YoY to 98.6 lakh, but was flat compared to previous month, while aircraft movements rose by 17 per cent on-year and 3 per cent on month-on-month basis to 64,809.
CreditAccess Grameen: The microfinance company said its executive borrowing & investment committee has approved the fund raising up to Rs 1,000 crore via public issue of non-convertible debentures of face value of Rs 1000 each. The fund raising of NCDs has a base issue of Rs 400 crore and a green shoe option of up to Rs 600 crore.
Spandana Sphoorty Financial: Rating agency ICRA has upgraded the ratings and revised the outlook for various instruments. Long-term fund based for Rs 2,105 crore has been upgraded to [ICRA] A from [ICRA]A-, outlook to stable from positive.
