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Stocks to Watch on Wednesday, October 4: Soaring US Treasuries are set to dent equities yet again on Wednesday. At 7:40 AM, Gift Nifty was quoting at 19,434, down 138 points.
Globally, South Korea's Kospi dropped over 2 per cent, Japan's Nikkei fell 2 per cent, and Australia's ASX200 declined 0.8 per cent. The Australian central bank held rates steady at 4.10 per cent.
Overnight in the US, the Dow Jones Industrial Average declined 1.28 per cent, the S&P 500 shed 1.37 per cent, and the Nasdaq Composite tumbled 1.87 per cent.
Meanwhile here are the top stocks to watch today:
Bajaj Finserv: Bajaj Finserv's insurance arm, Bajaj Allianz General Insurance Company Limited has received a show cause-cum-demand notice from the Directorate General of Goods and Services Tax (GST) Intelligence alleging a tax demand of Rs 1,010.05 crore.
New listing: Shares of Updater Services to list today.
HDFC Bank: HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. Check new portfolios here
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Bajaj Finance: New loans booked during Q- FY24 grew by 26 per cent year-on-year (YoY0 to 8.53 million as compared to 6.76 million in Q2-FY23. Assets under management (AUM) grew by 33 per cent YoY to approximately Rs 2.9 trillion at the end of Q2-FY24.
Adani Enterprises: Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday said it had increased its stake in Adani Enterprises (AEL) to more than 5 per cent. The move comes barely a week after the UAE-based company exited Adani Green and Adani Transmission by selling its entire holding.READ MORE
JSW Infrastructure: Moody's Investors Service on Tuesday upgraded the rating of the newly listed company. The rating agency upgraded the JSW Group firm's corporate family rating and senior secured bond rating to Ba1 from Ba2, and changed the outlook to stable from positive.
Polyplex: The promoters of packaging firm Polyplex Corp. will sell a 24.3 per cent stake to Dubai-based AGP Holdco Ltd. for Rs 1,188.9 crore. The deal amount has been revised downward from Rs 1,379.47 crore announced in May.
Reliance Industries: Superdry, a London-based fashion retailer, is in advanced talks with Reliance Brands about a new licensing joint venture, reported Sky News.
The agreement is expected to be worth more than £25 m to Superdry, mirroring an agreement announced in March to sell the company's intellectual property assets in the Asia-Pacific region to South Korea's Cowell Fashion Company for $50m (£34 m).
Tech Mahindra: Tech M has launched 'Vision AmplifAIer' solution under TechM it's AI offerings and solutions which will amplify the computer vision related use cases for enterprises.
Maruti Suzuki: The company has received draft Assessment Order for the FY 2019-20 wherein certain additions/disallowances amounting to Rs 2,159.7 crore with respect to returned income have been proposed. The company will file its objections before the Dispute Resolution Panel.
Meanwhile, the overall number of units produced by Maruti Suzuki India in September decreased by 1 per cent to 1,74,978 units.
Life Insurance Corporation (LIC): The Income Tax Department has demanded Rs 84 crore penalty pertaining to three assessment years and the Corporation has decided to file an appeal against the order.
Indian Oil Corporation: Indian Oil Corporation has firmed up plans to pump in over Rs 2,600 crore in setting up several greenfield units and expanding its facilities across the northeast over the next few years.
DLF: Realty major DLF is likely to start construction of its new 25 lakh square feet shopping mall in Gurugram this quarter at a cost of around Rs 1,700 crore.
Hero MotoCorp: Hero MotoCorp will commence deliveries of Harley-Davidson X440 on the first day of the Navratri festival, i.e., 15th October 2023.
Best Agrolife: The company has fully resumed operations without any adverse impact after search operations were conducted by income-tax Department at the company's Corporate office and Factories.
UPL: The company has incorporated a new step-down subsidiary, 'UPL Lanka Bio' effective October 2, 2023. UPL Mauritius expects to invest not exceeding approx. $2 million over a period of next 3 years
