Business Standard

Stocks to Watch today: Banks, Nuvama Wealth, RIL, Tata Steel, Strides, M&M

Stocks to watch on Tuesday, September 26, 2023: Shares of bank, mainly state-run, are likely to be in focus amid reports that the government may spend up to Rs 60,000 crore to provide subsidised loans

stock market, markets, trading, nse, bse, sensex, nifty, rally, coronavirus, covid, lockdown

Illustration: Binay Sinha

Rex Cano Mumbai

Listen to This Article

Stocks to Watch on Tuesday, September 26, 2023: In spite of a pullback in the US market, India’s key benchmark indices are likely to start Tuesday’s trading session on a sudued note tracking losses in the Asian peers.

In Asia this morning, Kospi had slipped over a per cent, Japan’s Nikkei had dropped 0.7 per cent. Hang Seng, Shanghai and Taiwan were down up to 0.5 per cent each.

Overnight, the US indices recouped losses and finished with gains up to 0.4 per cent.

At 07:10 AM, the GIFT Nifty futures quoted at 19,660, when compared with the spot Nifty close of 19,675 yesterday.
 

Meanwhile, these stocks are likely to be in focus on Tuesday.

Nuvama Wealth Management: The stock, formerly known as Edelweiss Securities, will be re-listed on the BSE and the NSE today.

Reliance (RIL): The Mukesh Ambani-led firm seeks postal ballot vote for Ambani third-generations’ board appointment - Isha Ambani, Anant Ambani, and Akash Ambani as non-executive directors.

Tata Steel: Moody's has raised the company’s long-term rating from Ba1 to Baa3; and the outlook from ‘Positive’ to ‘Stable’. 

Banks: With state and general elections round the corner, the government is considering spending Rs 60,000 crore to provide subsidised loans for small urban housing over the next five years. READ MORE

Mahindra & Mahindra (M&M): Canada's Ontario to buy 20 per cent stake in Mahindra Teqo, a subsidiary of M&M for Rs 35 crore. 

Strides Pharma: The company is spinning off its contract development and manufacturing (CDMO) business along with the soft-gelatin unit into an entity called ‘OneSource’ (currently Stelis Biopharma). The latter will be listed in the next 12-15 months in order to have better synergies and unlock value. READ MORE

SBI, Punjab & Sind Bank, Indian Bank: The Reserve Bank of India (RBI) on Monday imposed a monetary penalty, of up to Rs 1.62 crore, on these three state-run banks owing to non-compliance with certain regulations.

Wipro: Garnered Rs 266.38 crore by selling a land parcel and building in Chennai to Casagrand Bizpark.

Sheela Foam: Board approved QIP issue worth Rs 1,200 crore; Company to allocate 1.11 crore equity shares at Rs 1,078 each.

HDFC AMC: To invest Rs 25 crore in its international unit to help it meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under IFSC rules.

Indian Hotels: Has infused $11.5 million in its wholly-owned Netherland based subsidiary IHOCO BV to help it repay debt, and other operations.

DB Realty: In its bid to enter the hospitality sector, the company plans to acquire stake in Bamboo Hotel Global Centre, Goan Hotels, and BD & P Hotels for over Rs 2,300 crore.

Fortis Healthcare: To acquire 99.9 per cent stake in Artistery Properties for Rs 32 crore.

Welspun Corp: The company’s wholly-owned subsidiary Sintex BAPL has entered into an MOU with the state government of Telangana to set up a manufacturing unit with an investment of up to Rs 350 crore 

Century Textiles: The company’s realty arm has successfully launched Phase 1 of Birla Trimaya in Bengaluru. Estimated revenue from the project is pegged at Rs 3,000 crore.

Highways Infrastructure Trust: Board approved rights issues of Rs 514 crore at Rs 77.96 per share. The issue will be open from October 9 to October 11.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 26 2023 | 7:33 AM IST

Explore News