Business News

BHEL, Vodafone Idea, Infosys, JSW Steel, Hero MotoCorp and More

Indian markets on Friday, taking mixed cues from the global markets, are set to open in the green. At 0728 hours IST, the Nifty futures on Singapore Exchange traded 83 points, or 0.47 per cent, higher at 17,688.50, signaling that Dalal Street was headed for a positive start on Friday.

On Thursday, advancing for the third consecutive session, the 30-share BSE index climbed 417.96 points or 0.71 per cent to its new closing peak of 59,141.16. It touched an intra-day record of 59,204.29. Similarly, the broader NSE Nifty surged 110.05 points or 0.63 per cent to finish at its fresh lifetime high of 17,629.50. During the session, it scaled an all-time peak of 17,644.60

Another day of choppy trading on Wall Street, The S&P500 index fell 6.95 points to 4,473.75. The index remains within 1.4 per cent of the all-time high it set on Sept. 2. The Dow dropped 63.07 points to 34,751.32, while the Nasdaq added 20.39 points to 15,181.92. On the other hand, Asian bourses also opened higher on Thursday, Tokyo stocks open higher on Friday on bargain-hunting purchases, with investors focused on domestic politics as campaigning in the ruling party’s leadership race kicks off. The benchmark Nikkei 225 index was up 0.34 percent or 102.64 points at 30,425.98 in early trade, while the broader Topix index edged up 0.05 percent or 1.02 points to 2,091.18. On the flip side, Hong Kong shares opened with more losses, the Hang Seng Index fell 0.32 percent, or 78.68 points, to 24,589.17. The Shanghai Composite Index shed 0.33 percent, or 11.82 points, to 3,595.27, while the Shenzhen Composite Index on China’s second exchange lost 0.23 percent, or 5.63 points, to 2,431.93.

Here are stocks that would be in focus today:

JSW Steel: JSW Steel has raised $1 billion through the issuance of sustainability-linked bonds (SLBs) in the overseas market. The company said that it had “created history” by being the first company in the steel sector globally to issue an SLB in a hard currency.

Kotak Mahindra Bank: Kotak Mahindra Group and Volkswagen Finance Private Limited on September 16 announced that Kotak has acquired the vehicle financing loan portfolio of VWFPL, the Indian captive financing arm of Volkswagen Group.

Poonawala Fincorp: The Securities and Exchange Board of India (Sebi) on Wednesday barred Abhay Bhutada the MD and CEO of Poonawalla Finance and seven others from accessing the securities market for allegedly insider trading in shares of Poonawalla Fincorp.

Power Finance Corporation: On Thursday, this state-owned company declared that it has issued bonds worth 300 million euros for seven years. The company said that issuance of bonds saw healthy participation from institutional investors across Asia and Europe from across 82 accounts and was oversubscribed 2.65 times. Keep a watch on this stock for Friday’s trading session.

BHEL: The company announced on Thursday, the commissioning of India’s largest floating solar photovoltaic plant in Andhra Pradesh. The 25-megawatt floating SPV project extends over an area of 100 acres. This stock is likely to be in focus on Friday.

Vodafone Idea: The stock of Vodafone Idea was on fire in Thursday’s trading session. The Telecom sector reforms have acted as a big boost for this stock. Forming a strong bullish pattern on charts, the stock has sky-rocketed by 25.98 per cent in a single day. Keep a watch on this stock for any further strong movements.

Gyscoal Alloys: Sampati Securities sold 18.9 lakh equity shares in the company via open market transaction on September 15, reducing shareholding to 10.679% from 11.873% earlier.

Indiabulls Housing Finance: The company approved the floor price for the issue of foreign currency convertible bonds (FCCB) at Rs 231.48 per FCCB and the opening of the issue on September 16.

Infosys: Frost Bank selected Infosys as strategic partner to launch new mortgage loan product offering.

Hero MotoCorp: The company will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from September 20, 2021, which will offset the impact of steadily increasing commodity prices.

Ambalal Sarabhai Enterprises: CDSCO Cosara Diagnostics (a joint venture company of Synbiotics, a wholly owned subsidiary of Ambalal Sarabhai Enterprises and Co-Diagnostics Inc, USA) received regulatory approval from (Central Drugs Standard Control Organisation) to manufacture and sell SARAGENE dengue test kit.

NCL Industries: CRISIL has upgraded the long term and short term ratings of the company’s bank loan facilities (Rs 396 crore) to ‘A’/Stable from ‘A-‘ and ‘A1’ from ‘A2+’ respectively.

Read all the Latest News, Breaking News and Coronavirus News here


Related Articles

Back to top button