Stocks to watch: The domestic stocks are expected to open in the green on Friday, September 20. At 7:36 AM, the GIFT NIFTY futures were trading 21 points, or 0.08% lower at 25,543 levels. This, as per publicly available information, indicates that the NIFTY50 will open 54 points higher today.
In the overnight trade, major Wall Street indexes broke record highs after global counterparts booked gains and Treasury yields rose on Thursday as the start of the Federal Reserve's first rate-cutting cycle in more than four years whet investors' risk appetite.
Asian shares extended their rally on Friday, bathing in the afterglow of an outsized interest rate cut in the United States.
Here is a list of stocks that may remain in focus today.
Reliance Infrastructure: The Anil Ambani-promoted company's board on Thursday approved a preferential issue to raise ₹3,014 crore through the issuance of up to 12.56 crore equity shares at a price of ₹240 apiece.
NTPC: The company, in its exchange filing, said that its board of directors, in its meeting held on September 19, 2024, has accorded investment approval for Sipat Super Thermal Power Project, Stage-III (1x800 MW) at an appraised current estimated cost of ₹ 9,790.87 crore.
In a separate filing, the company said that its board has accorded investment approval for Darlipali Super Thermal Power Project, Stage-II (1x800 MW) at an appraised current estimated cost of ₹11,130.98 crore.
IIFL Finance: In a major relief to
IIFL Finance, the Reserve Bank of India (RBI) has removed restrictions on the company’s gold finance business. Following the embargo, the company faced major issues related to credit availability for servicing the gold loan business.
The company, through an exchange filing dated September 19, 2024, stated that the restrictions imposed on the company's gold loan business have been lifted. The restrictions, imposed on March 4, 2024, prohibited the company from sanctioning, disbursing, or assigning/securitising/selling any of its gold loans.
Abbott India: The company has signed a non-exclusive patent license agreement with Takeda Pharmaceuticals to market and distribute “Vonoprazan” in India under the brand name “Vonefi”. Vonoprazan (PCAB, or Potassium Competitive Acid Blocker) addresses severe acid-related disorders like reflux esophagitis through a once-daily dose, the company's regulatory filing added.
MSTC: The government on Thursday approved the privatisation of Ferro Scrap Nigam (FSNL) to Japanese corporation Konoike Transport Co for ₹320 crore.
Under the Steel Ministry, FSNL is a 100% subsidiary of MSTC. The government had received two technically qualified financial bids for the company.
Tata Power:
Tata Power, in its exchange filing on Thursday, September 20, said that the Tata Group company and Adaro International, Singapore, are currently engaged in a legal dispute over a coal supply agreement, with both companies seeking compensation from each other.
Infosys: The Indian IT services company on Thursday announced it was extending strategic collaboration with Posti to enable the delivery and logistics services provider in Finland, Sweden, and the Baltics to enhance customer experience and operational efficiency.
Infosys will adopt an AI-driven approach powered by Topaz, its AI-first offering using generative AI technologies, to empower Posti with operational efficiencies and service quality.
Sandur Manganese: The company, via its filing to exchanges, said that the Karnataka State Pollution Control Board (KSPCB), after examining the company’s application submitted to KSPCB under the Air and Water Act, has granted consent for operation (CFO-Expand) for the company’s manganese and iron ore mines for the enhancement of manganese ore production from current 0.43 MTPA to 0.55 MTPA.
HUDCO: The housing finance company has declared its potential to extend loan assistance between ₹75,000 crore and ₹1 lakh crore under the Pradhan Mantri Awas Yojana -Urban 2.0 (PMAY -U 2.0) scheme.
IDFC First Bank: The Reserve Bank of India (RBI) has approved the re-appointment of IDFC First Bank’s Managing Director (MD) and Chief Executive Officer (CEO) V Vaidyanathan, effective from December 19, 2024.
VST Industries: As per news reports, ace investor Radhakishan Damani has sold 1 lakh shares in
VST Industries for ₹4.4 crore via block deal. He sold shares at a price of ₹439.05 apiece.
Jyothy Labs: The company has signed business purchase agreement with Smartwash Solutions for acquiring its brand “Quiclo" along with its software and customer database under its laundry service business. The cost of acquisition is ₹70 lakh.
Power Grid: The company has been declared the successful bidder under tariff-based competitive bidding to establish inter-state transmission system for the project, namely “Transmission System for Evacuation of Power from Potential Renewable Energy Zone in Khavda Area of Gujarat under Phase-IV (7GW): Part B,” on a build, own, operate, and transfer (BOOT) basis.
Phoenix Mills: Phoenix Mills (PML) announced on Friday, September 20, that Casper Realty, a wholly-owned subsidiary of PML, has been declared as the highest bidder for two prime city-centric plots in Mohali, Punjab.
IndoStar Capital Finance Thursday announced that its board has approved the sale of its subsidiary, IndoStar Home Finance Private Limited (IHFPL), to WITKOPEEND B.V., an affiliate of BPEA EQT Mid-Market Growth Partnership (“EQT”), a global private equity investor, for ₹1,750 crore on a fully diluted basis.
EMS: The company's board of directors on Thursday approved a proposal to raise funds of up to ₹400 crore at a face value of ₹10 per share through a qualified institutional placement.
KEC International: CARE Ratings has downgraded the company's long-term bank facilities.
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