Stocks to watch, Sept 11: Premier Energies, ONGC, OIL, OMCs, HDFC Bank, Milky Mist, Coforge, Orient Tech

The domestic stock market is expected to open lower on Friday, September 11. GIFT NIFTY futures suggest that the NIFTY50 index could open around 143 points lower, amid elevated crude oil prices and weak global cues.

On the other hand, sustained elevated crude prices could pressure input costs for paint companies, tyre makers and aviation stocks, given their dependence on petroleum-linked raw materials and fuel.

Other sectors such as chemicals, logistics and consumer companies could also be affected if higher oil prices persist.

The favourable rulings are significant for HDFC Bank as the lender had invested in these securities, which were subsequently written off. The development comes amid the bank’s broader efforts to address issues related to the Credit Suisse AT-1 bond investment.

According to a regulatory filing dated September 10, the firm said that it has also planned additional investments as the business scales, taking the investment to approximately $5 million over the course of the expansion.

Under the strengthened relationship, Orient Tech will take on an expanded mandate as Securonix's exclusive Value-Added Distributor (VAD) and joint go-to-market partner in India, while building capabilities across implementation, professional services, technical support, managed security and security operations centre (SOC) enablement.

“Milky Mist was the first company in India back in 2022 to introduce Ultrafiltration technology for manufacturing Skyr and Greek Yogurt, responding early to consumers’ growing preference for high-protein nutrition,” it said.

The company said the relevant board-evaluation reports were available only to the NRC chair and chairman O.P. Bhatt and were not shared with other board members, including independent directors, at the chairman’s instruction.

NRC stands for Nomination and Remuneration Committee.

The internal auditor also observed that the reports’ findings were not fully presented to the NRC or the board, including the fact that the chairman’s category received the lowest rating.

Coforge clarified that the matter is related to governance processes and has no bearing on its financial statements, revenue, profitability or business outlook. The internal audit/governance review remains ongoing.

This marks a significant expansion of Premier Energies’ clean energy portfolio beyond solar manufacturing.

The proposed facility will be developed through Premier Energies’ subsidiary, Premier Battery Technologies Pvt. Ltd., with the first phase planned at 6 GWh.

The facility is expected to cater to the rapidly growing demand for energy storage across commercial, industrial, and utility-scale applications in India and international markets.