Top stocks in focus today: Investors must watch Innovision, Coforge, Bank of Baroda shares on Wed, 9 Sept | Triggers

Indian stock market investors are likely to track several companies on Wednesday, September 9, following key business developments, order wins, fundraising plans, stake sales, and other corporate announcements made after market hours.

NLC India, HMA Agro Industries, Innovision, Raymond, and Enviro Infra Engineers, Bank of Baroda are among the stocks likely to remain in focus. Tata Communications may also attract attention after its South Africa-based subsidiary Kaleyra Africa was dissolved following the completion of its voluntary liquidation process.

The Indian stock market remained under pressure in Tuesday's trade, September 8, as surging crude oil prices strengthened expectations that major global central banks, led by the US Federal Reserve, could consider raising interest rates to contain inflation.

The Nifty 50 fell another 0.61% to settle at 23,635, while the Sensex declined 0.73% to close at 75,577. The broader markets, however, managed to recover from their intraday losses, with the Nifty Midcap 100 and Nifty Smallcap 100 ending 0.21% and 0.17% higher, respectively.

Stocks to watch on September 9

NLC India: NLC India Renewables, a wholly owned subsidiary, emerged as the successful bidder for a 200 MW wind power project under SJVN's 600 MW wind power tender. The company has received a Letter of Award from SJVN.

Coforge: The company informed the resignation of Non-Executive Independent Director and Chairperson, O P Bhatt, and decided to designate Vivek Sharma, Non-Executive Independent Director, as interim Chairperson of the company till January 31, 2027.

HMA Agro Industries: The company approved the sale of its entire 100% stake in subsidiary FNS Agro Foods to individuals belonging to the promoter/promoter group. The transaction is classified as a related-party transaction and is subject to applicable approvals.

Innovision: The company received a ₹219.07 crore Letter of Award from NHAI for user-fee collection at the IDTL A and B fee plazas on the six-laning project between Indore and Dewas on NH-3 in Madhya Pradesh. The contract also includes maintenance of adjacent toilet blocks.

Bank of Baroda: The PSU bank will be in focus after proposing to divest up to 76.90 lakh NSE shares, equivalent to 35% of its holding in the exchange, through an OFS as part of NSE's proposed IPO. The transaction remains subject to regulatory approvals and is expected to be completed by the end of September.

TCS: The IT major won a ₹122.6 crore contract to implement the next phase of the Odisha State Workflow Automation System (OSWAS 3.0). The project will extend TCS' partnership with the Odisha government by around six years.

Raymond: The company approved a preferential issue of 33.29 lakh convertible warrants to Minerva Ventures Fund at ₹645 per warrant, aggregating to around ₹214.71 crore. The fundraise is subject to shareholder and regulatory approvals.

Piramal Finance: The company's committee approved the issuance of secured, rated, listed and redeemable non-convertible debentures (NCDs) worth up to ₹2,000 crore on a private placement basis.

Tata Communications: The company's wholly owned indirect subsidiary Kaleyra Africa has been dissolved following the completion of its voluntary liquidation process in South Africa. The subsidiary ceased operations with effect from September 4.

Enviro Infra Engineers: Its subsidiary Suyog Urja secured a ₹189.99 crore EPC contract from Tata Power Renewable Energy for a 180 MW NTPC wind power project in Parli, Maharashtra. The project includes wind turbine foundation, balance-of-plant, and 33 kV transmission line works and is scheduled for completion by March 31, 2027.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.