Stocks to Watch on Monday, September 11, 2023: The markets are likely to start trade with a slightly positive bias on hopes that the key benchmark indices may scale fresh record highs soon. The Nifty, in particular, is less than 1 per cent from its peak of 19,992.
At 07:00 AM, the GIFT Nifty futures quoted at 19,932, indicating a likely gain of 40-odd points for the Nifty50 in opening deals.
Meanwhile, these stocks are likely to be in focus on Monday.
HDFC Bank: Analysts expect the stock to see massive inflows of up to $600 million from passive trackers this week owing to the index rebalancing in the BSE Sensex and inclusion in the FTSE indices. READ MORE
Torrent Pharma, Cipla: Promoters of Torrent Group are likely to raise funds by pledging stake in the power arm in their bid to acquire Cipla. READ MORE
Reliance (RIL): In one of the rare instances, the Mukesh Ambani-led firm has deferred the timeline for its giga-scale battery factory by two years to 2026. READ MORE
Meanwhile, RIL and TCS have entered into separate partnerships with US technology giant Nvidia to build AI supercomputers.
Adani Group: The Gautam Adani-led group has hiked stake in Adani Enterprises to 71.93 per cent from 69.87 per cent, and in Adani Ports to 65.23 per cent from 63.06 per cent, BSE data shows. READ MORE
Grasim: The textile division of Grasim plans to expand its footprint in smaller cities and towns by opening around 100-120 retail stores over the next couple of years.
Balrampur Chini: Vivek Saraogi, chairman and managing director, of the company said, they stand to gain solidly amid high sugar prices and lower surplus in the country as it derives more volume from Uttar Pradesh.
Sigachi Industries: The company has fixed October 09 as the record date for the 1:10 stock split.
Sonata Software: The company’s Chief Revenue Officer Roshan Shetty has tendered his resignation, his last working day will be today.
IRB Infra: The company collected total toll revenue of Rs 417.21 crore in August 2023, up 24.2 per cent when compared with Rs 335.99 crore in August 2022.
Natco Pharma: The company and few other drug makers have been named defendants in an antitrust lawsuit regarding a generic cancer treatment drug in the US.
Oil India: The state-run firm plans to invest $2 billion in projects and aims to achieve net zero goal by 2040.
SJVN: The company’s Green Energy arm signed a power purchase agreement for 25 years with Bhakra Beas Management Board for an 18 MW solar power project in Himachal Pradesh and Punjab.
Shyam Metalics and Energy: The company has announced an offer for sale of up to 1.3 crore shares or 5.11 per cent stake at Rs 414 per share.
Stocks in F&O ban today: Balrampur Chini, Chambal Fertilisers, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, PNB and SAIL.