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Benchmark Sensex and Nifty indices may start Thursday's trade with a marginal downtick. At 7:45 am, the Gift Nifty futures were trading 40 pts lower at 19,631 as boiling crude prices raised risk-off sentiment for equities around the world.
In Asia, the S&P/ASX 200 slid 0.93 per cent ahead of its July trade data release. Japan's Nikkei 225 fell 0.11 per cent, South Korea's Kospi saw a 0.8 per cent loss, while Hong Kong's Hang Seng index shed 0.79 per cent.
Overnight in the US, the Dow, S&P 500 and the Nasdaq settled 0.57-1.06 per cent lower.
Meanwhile, here are some stocks to watch out in trade today:
Tata Consumer Products: The Tata group company has refuted reports that said it is in talks to acquire a majority 51 per cent stake in the snack and sweet brand Haldiram.
Reliance: The company’s retail arm, Reliance Retail Ventures (RRVL) has entered into a joint venture (JV) with actor Alia Bhatt’s sustainable fashion clothing brand for kids and maternity wear, Ed-a-Mamma, to acquire a 51 per cent stake. According to a source, Ed-a-Mamma was valued at approximately Rs 150 crore. RRVL aims to establish a close collaboration with the founder, Alia Bhatt, and leverage the management strength of its subsidiary, Reliance Brands, to lead the business. READ
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Tata Consultancy Services: TCS on Wednesday signed a strategic partnership valued at £800 million (about $1 billion) with the digital unit of Jaguar Land Rover (JLR) to help the luxury carmaker accelerate the modernisation of its IT infrastructure, and build a new technology architecture that will support its ‘Reimagine’ strategy. The deal is signed for a period of next five years.
REC: State-owned REC on Wednesday said it raised $1.15 billion in August in two tranches from a consortium of six banks. Proceeds of the loans shall be utilized to fund power, infrastructure and logistics sector projects as permitted under the ECB guidelines of the Reserve Bank of India. The funds have been raised under REC's Market Borrowing Programme of Rs 1.20 trillion for 2023-24.
In a separate statement, the company said it has signed a Foreign Currency Term Loan Agreement for $100 million with Export Import Bank of India (Exim Bank). This is the first term loan being extended by Exim Bank to REC. The loan has been tied up for a 5-year tenor and is benchmarked to SOFR.
Biocon: The company’s subsidiary Biocon Biologics (BBL) said it has completed the integration of the acquired biosimilars business from Viatris in North America (United States and Canada) effective September 1, 2023.
Also Read: Markets log 4th day of gains on buying in HDFC Bank, Asian markets
Also Read: Markets log 4th day of gains on buying in HDFC Bank, Asian markets
Lemon Tree Hotels: The hotel company has announced its latest signing – Lemon Tree Hotel, Mashobra. The property is expected to be operational by Q1FY26 and shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.
Danube Industries: The company has fixed Wednesday, September 20, 2023, as the record date to determine names of shareholders, entitled for allotment of bonus equity shares in the ratio of 1:1 that is one equity share will be issued for every one fully paid-up equity share held by the shareholders of the company.
MIC Electronics: The company approved an issue of securities to raise funds of up to Rs 90 crore through QIP or private offerings or any combination.
Som Distilleries and Breweries: The board has proposed to raise up to Rs 350 crore via a QIP issue, subject to shareholder approval at its AGM on September 27.
Power Finance Corporation: The company has fixed Thursday, Sept 21st as the record date for its bonus issue in the ratio of 1:4 that is 1 equity share will be issued for every 4 existing equity shares of the company.
PNC Infratech: The company's arm, PNC Raebareli Highways, will settle the NHAI dispute with a one-time settlement of Rs 107.17 crore. The settlement amount represents 65 per cent of the total 'eligible disputes' amount.
Responsive Industries: The company has secured a contract for the Garib Rath train project from the Indian Railways, following the recent Vande Bharat orders.
Tiger Logistics (India): The company has successfully secured a substantial government contract from Bharat Earth Movers Limited (BEML) through a bidding process. The project is anticipated to yield revenue of approximately Rs 10 crore.
Shri Venkatesh Refineries: The company approved issuance of bonus shares in the ratio of 1:1.
Trident: The company said that the agreement for sale of equity shares of Trident Global Corp Limited has been executed between Trident and Lotus Hometextiles for a consideration of Rs 36.55 crore.
Artefact Projects: The company has signed contract agreements with the NHAI worth Rs 14.7 crore.
