BackStocks to Watch: Adani Green, Infosys, M&M, EMS, SJVN, Coal India
Chambal Fertilisers, Indiabulls Housing Finance, Balrampur Chini Mills, Zee Entertainment, BHEL, Delta Corp, Hindustan Copper, Manappuram Finance, and PNB are the nine stocks that are a part of the F&O ban list by the NSE for Thursday
PremiumHere are the top stocks that could be in focus in today's trade:
Adani Green Energy: Adani Green Energy Ltd, which is planning to raise $1.5 billion, may secure a big chunk of it from French energy giant TotalEnergies SE, two people aware of the matter said. The Gautam Adani-led group’s renewables firm will use $750 million of this amount to repay bonds. “Adani Green has got an approval to raise $1.5 billion this fiscal for capex and debt repayment. Of this, a major amount will come from TotalEnergies, which owns 20% in Adani Green," said the first person.
Infosys: Homegrown IT major Infosys on Wednesday announced an expansion of its strategic partnership with US chipmaker, Nvidia. As part of the partnership, Nvidia will offer its artificial intelligence (AI) models, tools, applications and compute infrastructure to Infosys, which in turn will train 50,000 of its over 3.36 lakh employees on Nvidia’s AI stack through a dedicated centre of excellence (CoE).
M&M: The market capitalisation of Mahindra and Mahindra Ltd crossed the ₹2 lakh crore mark, helped by a strong order book in the SUV segment and a leadership position in the tractor segment. M&M shares closed at ₹1,636.85 on the BSE, giving the firm a market value of ₹2.03 lakh crore, according to stock exchange data. The automaker's market cap has doubled in less than one-and-a-half years - from ₹1 lakh crore in April 2022 to over ₹2 lakh crore this week.
EMS: EMS, a prominent player in the water and sewage infrastructure sector, is poised to make its debut on the stock exchanges this Thursday, September 21st. The company's initial public offering (IPO) garnered immense interest from investors, resulting in an impressive oversubscription rate of 75.29 times. Leading up to its stock market debut, EMS shares are commanding a significant premium of ₹82 in the unlisted market. At the upper price band of ₹211, it is anticipated that the shares will debut with a robust premium of 39%.
SJVN: The government will sell a 4.92% stake in SJVN at a floor price of ₹69 per share through a two-day offer for sale, an official said. "Offer for sale in SJVN opens tomorrow for non-retail investors. Retail investors can bid on Friday. Government will divest 4.92% equity including a Green Shoe option of 2.46%," DIPAM Secretary Tuhin Kanta Pandey posted on X. At the floor price of ₹69 a share, the sale of 4.92 per cent stake -- or over 9.66 crore shares -- will fetch over ₹650 crore.
ABFRL/Page Ind/Raymond/Shoppers Stop: Offline clothing retailers are set to report 7-8% revenue growth in FY24 helped by festival and marriage season demand and a step up in store expansion, according to a note by ratings firm Crisil released on Wednesday. Crisil analysed 39 organised apparel retailers that accounted for a fourth of the ₹1.9 lakh crore revenue last fiscal for the industry. Meanwhile, moderating input prices will help offset the impact of higher marketing spends keeping margins stable, it said.
Coal India: Central trade unions, including Bharatiya Mazdoor Sangh and All India Trade Union Congress, have demanded the salary of non-executive employees as per the latest wage pact from Coal India, and threatened a three-day strike. The trade unions have demanded that the salary of non-executive employees of Coal India be given according to the National Coal Wage Agreement (NCWA) XI.
Aurobindo Pharma: Aurobindo Pharma on Wednesday said the US health regulator has issued a Form 483 with one observation after inspecting a formulation production facility of its unit in Andhra Pradesh. The US Food and Drug Administration (US FDA) inspected Unit IV of APL Healthcare Ltd, a wholly-owned subsidiary of the company, in the Tirupati district of Andhra Pradesh from September 13-19, 2023, the Hyderabad-based drug major said in a regulatory filing.
Apollo Tyres: Production of bias and OTR (Off-The-Road) tires at Apollo Tyres' manufacturing facility in Limda, Gujarat, has been temporarily halted due to concerns raised by shop floor employees regarding the renewal of the long-term settlement agreement, according to reports. Apollo Tyres is actively engaged in discussions and negotiations with labour union representatives to address these concerns and work towards a mutually agreeable resolution.
Godrej Properties: Realty firm Godrej Properties on Wednesday said it has raised ₹1,160 crore through the issue of non-convertible debentures on a private placement basis. In a regulatory filing, the company said the allotment committee of the Board of Directors approved the allotment of the Non-Convertible Debentures (NCDs). Godrej Properties said the company has allotted one lakh rated listed unsecured redeemable NCDs of the face value of ₹1,00,000 each, aggregating to ₹1,000 crore.
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