Stocks to Watch: RIL, ONGC, OMCs, DLF, SpiceJet, Zee, BoB, Apollo Hospitals

Stocks to Watch Today: Shares of oil producers and marketing companies are likely to be in focus following the steep production cut by OPEC+.

Stocks to Watch Today: The markets are likely to trade on a positive note after a mid-week holiday break, as despite the overnight losses in the US markets on Wednesday, the key indices had logged solid net gains in the last three trading sessions. At 07:10 AM, the SGX Nifty futures quoted at 17,414, indicating a gap-up of over 100 points on the Nifty 50 benchmark.

Meanwhile, following are the stocks that are likely to some action in trades on Thursday.

Oil-related: Shares of oil producers and marketing companies will be in focus as Crude oil prices jumped over 3 per cent overnight after OPEC+ agreed to its deepest cuts (2 million barrel per day) to production since the 2020 COVID pandemic. READ MORE

Reliance Industries: The Mukesh Ambani-led firm has asked a government-appointed panel to desist from putting price caps on domestically produced natural gas, arguing that any such move would be retrograde and would delay investments in fuel production. READ MORE

Apollo Hospitals: The company has entered into a definite agreement to acquire up to 60 per cent stake in Kerala First Health Services for a consideration of Rs 26.40 crore. The latter offers Ayurveda medical services under the ‘AyurVAID Hospitals’ brand.

Consumer Durables: The nine-day Navratri festival, which concluded with Dussehra on Wednesday, saw good sales despite high inflation and rate hikes by the RBI. Retailers and e-commerce players are now expecting the sales top further pick-up owing to Diwali. READ MORE

Jet Airways: The new promoter, Jalan-Kalrock, has accepted the banks demands for infusion of capital, thereby clearing the decks for the airline’s smooth take-off. READ MORE

SpiceJet: The Centre has allowed airlines to avail of up to Rs 1,500 crore loan under the Emergency Credit Line Guarantee Scheme (ECLGS) to help them tide over their cash flow problems. The move is likely to benefit financially-beleaguered airlines, such as SpiceJet. READ MORE

DLF: The realty major said it sold all 292 luxury homes in Gurugram for over Rs 1,800 crore within eight days of the launch of the project, signalling strong demand despite rise in interest rate on home loans. READ MORE

Ratnamani Metals & Tubes: The company has inked an agreement to acquire Gujarat-based Ravi Technoforge. As per the agreement, the acquisition will be executed in three tranches, and after the first tranche the company will be acquire 53 per cent stake in Ravi Technoforge.

Avenue Supermarts (D-Mart): The company reported a 35.7 per cent rise in standalone revenue from operations to Rs 10,384.66 crore for Q2FY23.

Adani Green Energy, Tata Power: The two power major firms are planning on raising capital via green bonds to finance their new projects. While Adani Green plans to raise $1 billion via green bonds by December, Tata Power is in the process of raising $320 million via sustainability-linked loans this month. 

Happiest Minds: The company’s board has approved a proposal to raise up to Rs 1,400 crore by way of issue of equity shares or related instruments, including GDRs, ADRs etc.

Zee Entertainment: The Competition Commission of India (CCI) has granted conditional approval to the proposed merger of Zee Entertainment with Sony (India). Last month, the NCLT had asked Zee to convene the meeting with its shareholders on October 14 to seek approval for the proposed merger.

Bank of Baroda (BoB): Fitch Ratings has affirmed the bank’s and its New Zealand-based subsidiary’s long-term Issuer Default Ratings (IDRs) at 'BBB-'. The outlook is stable.

Atul Auto: The company’s board is scheduled to meet on October 08 to consider a proposal to raise funds.