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Equity benchmark indices--Sensex and Nifty--are looking to start Monday's trade with soft gains amid firm cues from global markets. At 7:30 am, the Gift Nifty futures were quoting 40 points higher at 19,555, over Nifty futures’ Friday close.
More than expected jobs were added in the US in August but the unemployment rate rose to 3.8 per cent, the highest in over a year, lifting Wall Street, but indices closed off highs on Friday.
The Dow gained 0.33 per cent, the S&P 500 added 0.18 per cent and the Nasdaq Composite ended 0.02 per cent down.
Asia-Pacific markets ticked higher led by gains in Hang Sang and CSI 300 indices in Hong Kong and China, which rose 1 per cent each.
Meanwhile, here are some stocks to watch out in trade today:
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IDBI Bank: The Department of Investment and Public Asset Management has invited bids to appoint an asset valuer for the bank's stake sale. The bids are expected to be submitted by Oct. 9. The asset valuer will work closely with the transaction adviser and legal adviser. The government is looking to sell 30.48 per cent, while Life Insurance Corp is looking to offload 30.24 per cent of its stake in IDBI Bank, along with the transfer of management control.
Bharat Electronics: The company is in pact with Israel Aerospace Industries to collaborate on short range air defense systems.
Paytm: Antfin's shareholding in the company has reduced from 23.79 per cent to 9.90 per cent. Accordingly, no person affiliated with Antfin will qualify as a Significant Beneficial Owner of the company. Paytm said that since Resilient Asset Management B.V., an overseas entity wholly owned by Vijay Shekhar Sharma, holds 10.30 per cent of Paytm's equity share capital, Sharma will be the only SBO of the company. His shareholding in Paytm (direct and indirect) now stands at 19.42 per cent.
ONGC: The board has approved capital restructuring of ONGC Petro additions (OPAL). It includes buyback of convertible debentures of Rs 7,778 crore by ONGC and an investment of Rs 7,000 crore in equity/quasi-equity security of OPaL.
Coal India: The state-run miner's production rose 13.2 per cent year-on-year to 52.3 million tonnes in August 2023. Comparative production for the month surged ahead by 6.1 MTs. Total coal supplies to all consuming sectors shot up by 15.3 per cent to 59 MTs in August 2023. Supplies were up nearly 8 MTs in a single month.
Hero MotoCorp: The company's sales rose 5.4 per cent year-on-year to 4.89 lakh units in August. Domestic sales rose 4.7 per cent to 4.73 lakh units while exports rose 24.7 per cent to 15,770 units.
Eicher Motors: The company's total motorcycle sales rose 11 per cent year-on-year to 77,583 units helped by new launches such as the Hunter 350. Exports was up by 13 per cent to 8,190 units.
Shilpa Medicare: The pharma company got market authorisation from UK's Medicines and Healthcare Products Regulatory Agency (MHRA) for Betahistine Dihydrochloride Orodispersible films 24 mg, used for the treatment of symptoms of Meniere's disease, including vertigo.
Infosys: The IT major completed the acquisition of Danske Bank’s IT centre in India. Danske Bank selected Infosys as a strategic partner to accelerate digital transformation initiatives with speed and scale.
Hindalco Industries: The company has entered into a shareholder’s agreement and power purchase agreement with Seven Renewable Power for acquisition a 26 per cent stake in the company for Rs 32.5 lakh. It plans to develop and operate captive power plant to supply 100 MW round-the-clock renewable energy to its smelter located in Odisha.
C.E. Info system: The company acquired 35,000 CCPS at Rs 2,571 apiece constituting 18.62 per cent on fully diluted basis of Kogo Tech Labs aggregating to around Rs 9 crore. The total shareholding shall become 39.89 per cent on a fully diluted basis.
Tata Power: The company's unit Tata Power Renewable Energy signed a Power Delivery Agreement of group captive project for 6 MW AC with Chalet Hotels. The plant will generate 13.75 million units of clean energy from renewable sources under this arrangement.
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Chalet Hotels: The company will acquire a 26 per cent stake in TP Agastaya and set up of a group captive solar power plant in Maharashtra.
Lemon Tree Hotels: The company has signed a License Agreement for an 80-room property in Dehradun, Uttarakhand under the brand “Lemon Tree Premier”. The hotel is expected to be operational by Q3 of FY25.
Delta Corp: The company approved the voluntarily strike off of subsidiary Delta Offshore Developers, Mauritius. The striking off process will be undertaken as per the laws of Mauritius. It also approved the incorporation of Deltin Foundation, along with Highstreet Cruises and Entertainment.
Lupin: The drugmaker completed the acquisition of French pharma firm Medisol, following regulatory approval.
Mahindra & Mahindra: The company entered into an Asset Transfer Agreement and a Business Transfer Agreement with unit Mahindra Last Mile Mobility for transfer of identified assets and business pertaining to the Last Mile Mobility Business to MLMML.
Deepak Fertilisers: The company has signed two gas purchase agreement with GAIL (India) for the next three years with a gas basket consisting of a combination of Brent, HH and domestic linked.
IDFC First Bank: The US-based boutique investment firm GQG Partners bought 2.6 percent stake in the lender for Rs 1,527 crore. Cloverdell Investment, the largest public shareholder in the private lender, offloaded as much as 4.2 per cent or 27.9 crore shares at an average price of Rs 89 per piece.
GMR Power and Urban Infra: Company's subsidiary GMR Smart Electricity Distribution received letter of award worth Rs 5,123.4 crore from the Purvanchal Vidyut Vitran Nigam.
Kotak Mahindra Bank: Uday Kotak resigned as MD and CEO effective Sept 1, four months ahead of his retirement. Dipak Gupta, joint managing director of the private lender will conduct the duties of MD and CEO, until Dec 31, when a new CEO will be appointed.
Biocon: The biopharmaceutical company has acquired Eywa Pharma's oral solid dosage manufacturing facility in New Jersey for around Rs 63 crore.
JSW Steel: The steelmaker surrendered its Jajang iron ore block located in Keonjhar, Odisha citing uneconomic operations. The surrender is subject to the government’s approval. The company had four iron ore mining leases in Odisha acquired through auction in 2020.
Rail Vikas Nigam: The company won a Rs 282 crore order from Madhya Gujarat Vij (MGVCL) for full Turnkey contract (design, supply and installation) for development of distribution infrastructure work for loss reduction at Dahod. The duration of the contract is 31 months.
ICICI Bank and ICICI Lombard General Insurance: ICICI Bank received an IRDAI nod for increasing its stake in ICICI Lombard General Insurance by 4 per cent, thus making it a subsidiary of the company. The lender will have to increase its stake in the insurance company in one or more tranches latest by Aug. 31, 2024.
Mindspace Business Parks REIT: Company has acquired 0.24 million square feet of leasable office space at Commerzone Porur in Chennai for Rs 181.6 crore as part of its expansion plan. Mindspace REIT, through its asset special purpose vehicle, now owns 100 per cent of the project with a total leasable area of about 1.1 million square feet.
Mishra Dhatu Nigam: The company said that it supplied specialised metals and alloys used in Aditya-L1 launcher vehicle.
