 "Stock Market, BSE, Nifty, Capital")
Stock Market, BSE, Nifty, Capital(Photo: Shutterstock)
Stocks to Watch, Monday, September 30, 2024: Markets in India were likely headed for a muted start, as indicated by GIFT Nifty futures, tracking weakness in most global markets.
At 6:50 AM, GIFT Nifty futures were at 26,315, around 30 points behind Nifty futures’ last close.
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Japan’s Nikkei 225 dropped over 4 per cent on Monday, while Australian stocks reached a new high ahead of key economic data from China.
In Australia, the S&P/ASX 200 rose 0.62 per cent, hitting a new all-time high of 8,246.2, while South Korea’s Kospi dragged by 0.54 per cent, and the small-cap Kosdaq was down 0.49 per cent.
Hong Kong’s Hang Seng index futures indicated a drop at open, sitting at 20,910 compared to the last close of 20,632.30.
Overnight in the US, the Dow Jones Industrial Average reached a new high on Friday, gaining 0.33 per cent to end at 42,313.00. The S&P 500 dipped slightly by 0.13 per cent, while the Nasdaq Composite fell 0.39 per cent.
Meanwhile, here are a few stocks likely to be in focus on Monday:
Adani Enterprises: Adani New Industries, the green energy components manufacturing arm of Adani Enterprises, is expanding its solar component manufacturing capabilities in India, focusing on solar glass, aluminium frames, and backsheets to strengthen its supply chain for solar cells and modules. ANIL plans to increase its solar cell and module capacity from 4 GW to 10 GW by 2030, alongside setting up facilities for component manufacturing.
Hindustan Unilever: HUL is under pressure as it faces competition from smaller FMCG companies and unorganised sector players, particularly in the soaps segment. The company has implemented price cuts to retain market share and is now focusing on premiumisation across its product range. Analysts suggest HUL’s growth strategy may take time as it adapts to market changes, while e-commerce continues to be a growing avenue for revenue.
Reliance Industries, Network18 Media & Investments: RIL has received government approval to transfer licenses for its non-news and current affairs TV channels to Star India, following a merger with Disney’s Indian media assets. This strategic move is expected to enhance RIL’s competitive position against other media giants. The merger, valued at Rs 70,350 crore, is anticipated to finalise in late 2024 or early 2025. Separately, Candytoy Corporate (CTC) has secured a partnership with Reliance Retail to supply confectionery toys, aiming for rapid expansion across 1,400 stores by the end of the fiscal year.
Tata Motors: The company has begun construction of a Rs 9,000-crore plant in Tamil Nadu for manufacturing Jaguar Land Rover vehicles.
NLC India: The company is positioning itself to tap into the critical minerals sector, with plans to achieve a mining capacity of 1 million tonnes annually by 2029-30. This move aligns with the growing demand for critical minerals in renewable energy projects, including solar and wind. The company also aims to significantly boost its renewable energy capacity from 1,431 MW to 10,110 MW by 2030.
REC: The state-owned company raised $500 million through green dollar bonds for renewable energy projects. The bonds have a maturity date of September 27, 2029.
Zydus Lifesciences: The company has received approval from the US FDA to manufacture generic Enzalutamide capsules, a prostate cancer treatment drug. The drug’s US market had annual sales of approximately $869.4 million.
Biocon: The company has received four observations from the US FDA after an inspection of its Bengaluru API facility. The company plans to address these findings and does not anticipate any business impact.
Larsen & Toubro: L&T plans to expand its real estate business by acquiring land and enhancing pre-sales. The company aims to grow its portfolio significantly while focusing on premium housing.
Sterling And Wilson Renewable Energy: Shapoorji Pallonji and Khurshed Yazdi Daruvala divested a 7.14 per cent stake in Sterling And Wilson Renewable Energy for approximately Rs 1,040 crore.
IPO listings today: Manba Finance (Mainline), and two SME companies WOL 3D India and Rappid Valves will be listed on the stock exchanges today.
GMR Airports: The Supreme Court’s recent decision allows GMR Airports to continue operating Nagpur’s Babasaheb Ambedkar International Airport, following the closure of curative petitions by the Centre and AAI.
Alkem Laboratories: The pharma company has refuted claims regarding its products Pan-D and Clavam 625 failing quality tests by the CDSCO. The company asserts that the samples tested were spurious and not manufactured by them.
IndusInd Bank: The bank’s board approved the re-appointment of Sumant Kathpalia as MD and CEO for three years, pending RBI approval. He has focused on strengthening the bank’s balance sheet and retail deposit growth.
Tamilnad Mercantile Bank: The bank is developing a roadmap to enhance its MSME portfolio, including new branch openings and establishing MSME hubs. The bank is working with McKinsey to refine its strategy.
Zomato: The company’s co-founder and Chief People Officer, Akriti Chopra has resigned from her role.
HCLTech: An employee suffered a cardiac arrest at the Nagpur office of the company, prompting emergency medical care. The company is extending support to the employee’s family.
First Published: Sep 30 2024 | 7:02 AM IST
