Stocks to watch: At 7:59 AM, the GIFT NIFTY futures were trading 0.10%, or 26.50 points, higher at 26,002 levels. This, as per publicly available information, indicates that the NIFTY50 will open 12 points higher on Tuesday, October 1.
On the global front, Asian stocks eased near two-and-a-half-year highs on Tuesday and the US dollar firmed following hawkish comments from Federal Reserve Chair Jerome Powell that scuppered bets of big interest rate cuts, while Mid-East tension kept risk sentiment in check.
Oil prices were steady, and gold traded just below a record high touched last week as investors awaited US labour data for more clarity on the pace of U.S. rate cuts.
Here is a list of stocks that may remain in focus today.
Auto stocks: Shares of automobile companies will trade actively today as the companies will start releasing their sales data for September 2024.
Tata Steel: Tata Steel's Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking the end of "legacy" steelmaking as the UK's largest steelworks transitions towards greener steelmaking. The Mumbai-headquartered steel giant said it is looking ahead to a "brighter, greener future" for the historic site and sustaining more than 5,000 jobs.
Bank of Maharashtra: The public sector lender launched QIP on Monday, September 30, to raise up to ₹3,500 crore. The floor price for the same has been fixed at ₹60.37/share. The indicative issue price is ₹57.36 apiece, which would mark a discount of 4.86% against the current market price. The lender is looking to offload up to 8.6% stake, or 61 crore shares, through the QIP, as per news reports.
Mankind Pharma: The pharma company on Monday said it will raise up to ₹10,000 crore via issuance of non-convertible debentures and commercial papers. The company said its board has approved raising up to ₹5,000 crore via non-convertible debentures in 3-4 distinct series with maturities of up to 48 months.
Jindal Stainless:
Jindal Stainless has announced a strategic collaboration with CJ Darcl Logistics to develop lightweight and sustainable stainless steel containers designed for transporting a variety of goods, including polymers, batteries, and rubber.
Tata Power:
Tata Power on Monday said it has inked an initial pact with the Rajasthan government for investment of ₹1.2 lakh crore, including ₹75,000 crore in green energy, in the state's power sector.
The 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply.
Muthoot Finance, Manappuram Finance: Gold finance companies' stocks are expected to be in focus today as the Reserve Bank of India (RBI) on Monday said it has observed several irregular practices by gold loan businesses, and asked entities to review their policies and also undertake a portfolio review.
A recent review on adherence to prudential guidelines revealed several deficiencies with regard to loans against pledge of gold ornaments and jewellery, the central bank said in a communication to lenders.
PC Jeweller: The board of directors of PC Jeweller approved on Monday, September 30, a share split in the ratio of 1:10 to enhance liquidity.
UltraTech Cement: The company on Monday entered into agreements for enhancement of hybrid power supply from 15 MW to 21 MW and increasing its shareholding from 3.28% to 5.46% in Continuum MP Windfarm.
Kalpataru Projects: Specialised engineering company
Kalpataru Projects International (KPIL) on Monday said it has secured orders worth ₹1,241 crore. The new orders are for the transmission & distribution (T&D) business in India and overseas markets as well as residential and commercial building projects in the country.
According to a company statement, KPIL have secured new orders/notification of awards of ₹1,241 crore.
Blue Dart Express: The courier services provider on Monday said it will increase the prices of its shipments between 9-12% from January 1, 2025.
The pricing adjustments for 2025, which include inflationary adjustments and cost rationalisation, are designed to partly cover spiraling long-term costs, such as rising input costs to operations, including airline operating costs and infrastructure costs, among others, the company said. Blue Dart will implement the General Price Increase (GPI) from January 1.
With inputs from Reuters
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