Stocks to watch today: Major benchmark indices are likely to start trading quietly as there is a lack of clear guidance from global markets as the US closed overnight for the Labor Day holiday.
Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC+) announced a 100,000 barrels per day (bpd) cut in crude oil production from October, a first last year. As of 06:45, the SGX Nifty future was trading at 17,735 versus Monday’s spot close of 17,666.
Here’s a list of stocks that are likely to see some action in trading on Tuesday.
DreamFolks Services: The company’s IPO was well received, drawing up to 56.68 subscriptions. According to Gray Market Premium (GMP), the stock is expected to trade around the Rs 400 mark against the issue price of Rs 326 per share.
Reliance Industries (RIL): The company, led by Mukesh Ambani, signed a definitive agreement to acquire a controlling interest in SenseHawk Inc (“SenseHawk”) for a total transaction value of US$32 million, including financing for future growth, commercial product launches and R&D. SenseHawk is a Solar Digitization Platform (SDP) with customers throughout the solar asset lifecycle in the US, EMEA, APAC and SEA.
Tata engines: The Tata Group company launched India’s first CNG trucks in the medium and heavy-duty vehicle (M&HCV) segment in the 28 and 19 tonne nodes. The CNG models are powered by the 5.7-liter SGI engine with a peak output of 180 hp and a torque of 650 Nm, have a modular design and offer a range of up to 1,000 km. CONTINUE READING
Hindustan Aeronautics (HAL) and Larsen & Toubro (L&T): A space consortium formed by HAL and L&T has received a Rs 860 crore order for the next five Polar Satellite Launch Vehicles (PSLVs), indicating the healthy growth and consolidation of the domestic space and satellite launch industry. CONTINUE READING
Adani company: Gautam Adani is looking for a new head of its Mergers and Acquisitions (M&A) strategy. Vinod Bahety – who heads Adani Enterprises’ M&A activities – will soon move into a new line of business, sources said. CONTINUE READING
metal industry: The global industrial metals scenario has been extremely confused since the war between Russia and Ukraine. We have seen both supply cuts and falling demand. The new equations are not yet clear. Metals spreads may not have bottomed yet, with forecasts suggesting that Q2′ FY2022-23 could show lower profitability. READ FULL ANALYSIS
rec: The state-run company will seek shareholder approval on September 16 to raise up to Rs 75,000 crore through bond issuance. It is proposed to raise the funds through the issuance of debentures on a private placement basis in one or more tranches over a period of one year from the date of the Resolution. CONTINUE READING
Manappuram, Muthoot: Rating agency Standard & Poor’s (S&P) said intense competition in India’s gold lending business could squeeze margins for gold finance firms. However, the market leaders – Manappuram Finance and Muthoot Finance – are not yet facing refinancing challenges. CONTINUE READING
NTPC: India’s largest power generation company has acquired Gautam Thapar-owned Avantha Group’s stressed Jhabua Thermal Project (600 MW) in Insolvency and Bankruptcy (IBC) proceedings.
Adani Ports: The Supreme Court on Monday said Adani Ports and Special Economic Zones (APSEZ) could participate in tenders from “public bodies,” bringing relief to India’s largest port developer and operator, which has been barred from government port projects on multiple occasions, on the background of an ongoing case.
Stocks in the F&O ban: Delta Corp is the only stock on Tuesday’s F&O lockdown.