The domestic stock market is expected to open on a positive note on Thursday, September 5. At 07:52 AM, the GIFT Nifty futures traded 11.50 points, or 0.05% higher at 25,359.50 levels. This, as per publicly available information, indicates that NIFTY50 will open around 112 points higher.
Here is a list of stocks that may remain in focus today.
Reliance Industries (RIL): The Mukesh Ambani-led company would meet today to consider the issue of bonus shares in the ratio of 1:1 to the equity shareholders of the company. Besides, shares will also react to the news that the oil-to-telecom conglomerate has been awarded 10 GWh of Advanced Chemistry Cell (ACC) capacity under the PLI scheme based on the Quality & Cost Based Selection (QCBS) mechanism.
Raymond Lifestyle: Raymond Lifestyle will be listed on the stock exchanges today. The company aims to add 900 new outlets in three years. Following the demerger of its retail and lifestyle businesses, Raymond will have two listed entities. In a release on Tuesday, the company said it will get listed on the bourses on September 5.
Suzlon Energy: The company has entered into a property sale and leaseback transaction for its headquarters, One Earth, in Pune as part of its non-core asset monetisation plan. As per news reports, it has sold the property for ₹440 crore to OE Business Park (OEBPPL), a special purpose vehicle, shares of which are held by funds managed by 360 ONE Alternates Asset Management.
Sona BLW: The company, as per reports, has launched QIP to raise ₹2,400 crore. The indicative issue price range is ₹675-₹700 per share. Equity dilution stands at 6.06% at the lower end of the price range, as reported by CNBC-TV18.
GIC RE:
General Insurance Corporation of India’s (GIC Re) offer for sale (OFS) got a positive response on Wednesday from non-retail investors. In a post on X, Secretary, the Department of Investment and Public Asset Management, said the OFS issue was subscribed 1.08 times of base size by non-retail investors.
Retail investors and employees of GIC would be able to bid on Thursday. “Govt has decided to exercise the green shoe option. Retail investors and employees of GIC get a chance to bid tomorrow,” the Secretary’s X post added.
Matrimony.com: The company is scheduled to hold a board meeting today to consider and approve a proposal of buyback of equity shares.
Glenmark Pharma: The company, in its filing to exchanges, said that Glenmark Pharmaceuticals Inc., USA (“Glenmark”) has agreed to pay to the United States 25,000,000 USD in six installments over five years, with interest on the settlement amount at a rate of 4.25% per annum from May 28, 2024. The settlement amount and interest on the settlement amount constitute restitution.
Oil-linked stocks: OMCs, paint, and tyre stocks are expected to continue their gaining streak on Thursday as crude oil prices fell on pessimism about demand in the coming months as crude producers offered mixed signals about supply increases. Lackluster data from the U.S. and China have added to persistent expectations for a weaker global economy. On Wednesday, US crude settled down 1.6% at $69.20 a barrel, while Brent ended 1.4% lower at $72.70 per barrel.
On the other hand, oil upstream companies will be under pressure.
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