The US Federal Reserve finally did what was anticipated, at least for the past month. The US central bank lowered the interest rates by 50 basis points to the 4.75%-5.00% range on Wednesday, thus resuming the rate-cut cycle after a good four years.
The domestic stocks, in all probability, are expected to react to the Fed's moves. At 7:39 AM, the GIFT Nifty futures were trading 0.25%, or 63.50 points, higher at 25,418.50 levels. This, as per publicly available information, indicates that the NIFTY50 will open 22 points higher on Thursday, September 19.
Here is a list of stocks that may trade actively in today's session.
IT stocks: IT stocks will be in focus today after the Fed rate cut. Shares of Indian information technology (IT) companies took a hit on Wednesday, September 18, ahead of the Fed meeting.
A 50-bps rate cut is a negative for the US dollar, and the Fed hinted at more rate cuts going forward in its commentary. This means the Indian rupee may strengthen against the dollar. This could weigh down stocks of exporters like IT companies further.
Ion Exchange: The company has been awarded contracts from Adani Power for a comprehensive and complete total water and environment management solution valued at approximately ₹161.19 crore for the process and utility required of 2 x 800 MW units for Raipur & Raigarh ultra-superpower projects. The projects are to be completed within 18 months from project award dates.
Power Grid:
Power Grid Corporation of India has been declared the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system for the project, namely “Transmission System for Evacuation of Power from Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/Barmer Complex): Part H1,” on a build, own, operate, and transfer (BOOT) basis. The Letter of Intent (LoI) has been received by Power Grid Corporation of India Limited on September 18, 2024.
IREDA: The
Indian Renewable Energy Development Agency (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise up to ₹4,500 crore in a fresh equity share issue through a Qualified Institutional Placement (QIP).
GE T&D: GE T&D India promoters Grid Equipments Pvt. and GE Grid Alliance BV will sell up to 3 crore equity shares, or a 11.7% stake in the company, through an offer for sale (OFS) on Thursday and Friday. The floor price for the OFS has been set at ₹1,400 per share.
Aavas Financiers: The company announced on Wednesday that its board has approved the issuance of on-convertible debentures (NCDs) to raise ₹630 crore.
Nazara Technologies’ board has approved a preferential equity issue to raise ₹ 900 crore, subject to shareholder and regulatory approvals. This capital infusion will fuel strategic acquisitions, fund business expansion, and enhance the company’s ability to seize new growth opportunities.
NTPC: NTPC Green Energy, a subsidiary of state-run NTPC Ltd., has filed its draft red herring prospectus for an initial public offering (IPO) aimed at raising ₹10,000 crore.
Reliance Power: The company's board, as per news reports, will meet on September 23 to consider the raising of long-term resources from domestic and/or global markets via the issue of equity shares and/or foreign currency convertible bonds.
Aditya Birla Capital Limited: The company announced on September 18, 2024, that it has received a ‘no objection’ letter from the Reserve Bank of India (RBI) for the proposed amalgamation of its wholly-owned subsidiary, Aditya Birla Finance Limited (ABFL), with the parent company.
Macrotech Developers said it will acquire additional stakes in three Maharashtra-based digital infrastructure firms for a cumulative amount of ₹240 crore. The company, in a regulatory filing, said it has inked securities purchase agreements with Ivanhoe Warehousing India Inc. to acquire the latter's stake in Bellissimo Digital Infrastructure Development Management Pvt., Palava Induslogic 4 Pvt., and Bellissimo In City FC Mumbai 1.
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