Stocks to watch: The domestic stocks are expected to see a negative start on Monday, September 30, amid a sharp drop in Asian stocks and geopolitical developments.
Asia share markets turned hesitant on Monday as strife in the Middle East offset more stimulus measures in China, while the Nikkei dived on concerns Japan's new prime minister favoured normalising interest rates.
The Nikkei index nosedived 4.1% as investors anxiously waited for more direction from new Prime Minister Shigeru Ishiba, who has been critical of the Bank of Japan's easy policies in the past.
In the latest geopolitical developments, Israel said it bombed Houthi targets in Yemen on Sunday and mounted further airstrikes in Lebanon, expanding its confrontation with Iran's allies in the region two days after killing the Hezbollah leader Sayyed Hassan Nasrallah.
The airstrikes on Yemen's port of Hodeidah were a response to Houthi missile attacks on Israel in recent days, Israel said, amid fears that Middle East fighting could spin out of control and draw in Iran and the United States, Israel's main ally.
At 7:48 AM, the GIFT NIFTY futures were trading 7 points, or 0.03% lower at 26,283.50. This, as per publicly available information, indicates that the NIFTY50 will open 62 points lower.
Here is a list of stocks that will be in focus today.
BSE: BSE has revised the transaction fees for SENSEX and BANKEX options contracts in the equity derivatives segment to ₹3,250 per crore of premium turnover.
PNB:
Punjab National Bank (PNB), the state-run lender, on Friday, September 28, said it has raised ₹5,000 crore through a qualified institutional placement (QIP). The bank allocated about 48.19 crore equity shares at an issue price of ₹103.75 per share, which was at a discount of 4.96% to the floor price of ₹109.16 per share, PNB said in a statement.
Zomato: Online food ordering and delivery platform
Zomato on Friday said its co-founder and Chief People Officer Akriti Chopra has resigned to pursue other interests. Designated as senior management personnel, Chopra has tendered her resignation, with effect from September 27, 2024, Zomato said in a regulatory filing.
HDFC Life:
HDFC Life Insurance will raise ₹1,500 crore through non-convertible debentures (NCDs) after its board approved the plan on Friday, September 27.
NHPC: State-owned NHPC on Saturday said it has inked a joint venture agreement with APGENCO for the implementation of pumped storage hydropower projects and other renewable energy projects in Andhra Pradesh.
IDFC First Bank: IDFC First Bank on Friday announced the completion of the merger of IDFC Limited with the bank. The merger is effective from October 1, 2024, it added. As a result of the merger, it said, 155 equity shares of the bank will be allotted for every 100 equity shares of IDFC Limited held by such shareholder in IDFC Limited as on the record date, i.e., October 10, 2024.
ICICI Lombard: The company received an income tax demand of ₹1,388 crore on Thursday from the Office of the Assistant Commissioner of Income-Tax, Mumbai, according to an exchange filing on BSE. The total income tax demand was for the amount of ₹1,388.09 crore, which includes an interest of ₹321 crore. The tax notice pertains to the assessment year 2021–22.
ICICI Prudential Life Insurance Company on Friday (September 27) said it has received a ₹361.23-crore income tax order for the assessment year 2022-23, which includes ₹275.28 crore in taxes and ₹85.94 crore in interest.
Welspun Enterprises: Welspun Enterprises Limited’ has been declared an L1 bidder by the Brihanmumbai Municipal Corporation (“Client”) for a Design and Build (“DB”) contract for the design and construction of a tertiary treated water conveyance tunnel from Dharavi WWTF to Ghatkopar WWTF (“Project”).
The key scope of contract includes design and construction of a 8.48 km tunnel with a 3,500 mm bored diameter, to be executed within a period of 93 months using a tunnel boring machine. "Our offer excluding GST is nearly ₹1,989.90 crore," the company said.
LTIMintree: The IT services company has strengthened its partnership with Currys, a leading UK retailer of technology products and services, by enabling transformation of its omni-channel retail customer experiences leveraging Salesforce Service Cloud, Commerce Cloud, and MuleSoft. This partnership was recognised with the Dreamforce Partner Innovation Award at Dreamforce 2024 in San Francisco, USA.
Rallis India: S Nagarajan is being relieved from the services of the company as the Chief Operating Officer, a senior management
personnel, in view of his appointment as the Managing Director & CEO of Tata Chemicals Magadi, Kenya, with effect from October 21, 2024.
Jubilant Pharmova: Jubilant Pharmova on Saturday announced that Jubilant HollisterStier General Partnership (“JHSGP”) has received a communication from the USFDA, through which the regulatory agency intimated that pursuant to its audit of JHSGP’s contract manufacturing facility (“CMO”) located at Montreal, Canada, in June 2024, it has determined the inspection classification of the facility as “Official Action Indicated” (OAI). The said audit was reported by the company on June 18, 2024.
Piramal Pharma: The company, in its filing, said, "The USFDA inspection at Piramal Pharma’s manufacturing facility located at Ahmedabad, India, with Zero Form 483 observations and No Action Indicated (NAI) designation. In furtherance to the aforementioned intimation, this is to inform you that the US FDA has issued an EIR for the said manufacturing facility. "
Biocon: Biocon on Saturday said the US health regulator has issued four observations after inspecting its Bengaluru-based API (active pharmaceutical ingredient) facility. The US Food and Drug Administration (USFDA) conducted a surveillance inspection of the API facility (Site 2), located in Bengaluru, from September 23–27, 2024, the company said in a regulatory filing.
Reliance Infrastructure: The Calcutta High Court has upheld a ₹780 crore arbitration award in favour of
Reliance Infrastructure in a dispute with West Bengal-based Damodar Valley Corporation, the Anil Ambani group firm said in a stock exchange filing. More than a decade ago, Reliance Infrastructure had won a contract to set up a 1,200 MW thermal power plant in Purulia in West Bengal for ₹3,750 crore.
Apollo Hospitals: Apollo Hospitals Enterprises' stake in its arm, Apollo HealthCo, has been diluted as an affiliate of Advent International has picked up a stake in the company. The company's shareholding in AHL has diluted from 94.9% to around 78.8%.
Metal stocks are expected to be in focus today as China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch stimulus assault to pull economic growth back towards this year's roughly 5% target. More fiscal measures are expected to be announced before China's week-long holidays starting on October 1.
BEL: BEL IAI AeroSystems, a joint venture between Bharat Electronics and Israel Aerospace Industries, received approval from the Ministry of Corporate Affairs for incorporation on Friday.
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