Stocks to Watch today: Adani Group, TVS, Bajaj Auto, ICICI Lombard, Emami

Stocks to watch on Friday, September 29, 2023: Shares of Adani Group to be in focus amid reports that Abu Dhabi conglomerate IHC plans stake stake in Adani Green and Adani Energy Solutions.

Stocks to Watch on Friday, September 29, 2023: India’s key benchmark equity indices are likely to start the last trading session of the week on a quiet note amid benign cues from global markets. At 07:10 AM, GIFT Nifty futures quoted at 19,630.

Overnight, the US markets ended with modest gains, with Nasdaq up nearly 0.8 per cent, and Dow adding 0.4 per cent ahead of the crucial core PCE inflation data for August on Friday. Economists expect a marginal uptick in inflation to 3.5 per cent. A dip in crude oil prices aided sentiment. 

Closer home, equity markets in Asia-Pacific region were largely flat. The S&P/ASX 200 and All Ordinaries were up 0.3 per cent, while Japan’s Nikkei was down 0.2 per cent.

Meanwhile, here are the stocks that are likely to be on investors’ radar this Friday.

Adani Green, Adani Energy: Abu Dhabi conglomerate International Holding Company (IHC) plans to sell stake in Adani Green Energy and Adani Energy Solutions as part of its portfolio rebalancing strategy. It did not disclose the extent of sale. READ MORE

ICICI Lombard: The Directorate General of Goods and Services Tax (GST) Intelligence has issued a tax demand and Show Cause Demand Notice to the firm worth Rs 1,728.90 crore for alleged non-payment of taxes from July 2017 to March 2022. READ MORE

Bajaj Auto, TVS Motor: Bajaj Auto has virtually closed the gap with Ather Energy in September, notching up 6,423 EV registrations compared to 6,466 registrations by Ather as on Thursday. Similarly, TVS Motor too has gained a substantial share in the electric two-wheeler segment.  READ MORE

Eveready Industries: With a focus on premiumisation, Eveready is pushing ‘Ultima’ as a sub-brand to power the segment.  The newly-launched Ultima Pro alkaline battery range boasts of up to 800 per cent longer-lasting claim. The target is high-drain applications such as toys, video games, smart remotes, wireless keyboards, trimmers, and medical equipments.

Sun Pharma: One of its subsidiaries has signed a binding letter of intent to acquire the balance 25 per cent outstanding shares of its step-down arm Sun Pharma de Mexico where it currently holds 75 per cent shares.

Realty: Home sales in the top seven cities of India reached an all-time high of 120,280 units between July and September, according to real estate consultancy Anarock. Sales this year were higher by 36 per cent, when compared to 88,230 units sold in the same period in 2022.

State Bank of India (SBI): The state-run bank said it pared its stake in MSP Steel & Power through an open market deal to 2.5 per cent from 7.3 per cent.

Emami: Announced its foray into the health juice category with a 26 per cent strategic stake in Axiom Ayurveda, makers of 'AloFrut', for an undisclosed amount.

Tamilnad Mercantile Bank (TMB): The Tuticorin-based bank's managing director and chief executive officer, Krishnan Sankarasubramaniam, has resigned, citing personal reasons.