Tag: Buzzing stocks

Stocks to watch today: A positive start is likely for the Indian equity markets on Friday amid mixed global cues. At 7:40 am, the SGX Nifty Futures quoted 17,601 levels, up over 50-odd points.

Globally, the US markets saw minor recovery on Thursday. Dow Jones climbed over 150 points, to close 0.4 per cent higher, while the S&P 500 gained 0.3 per cent. NASDAQ Composite, however, dropped to 0.2 per cent. Further, the US equity futures were flat on Friday ahead of the US jobs report.

Asia-Pacific markets, too, were volatile in Friday’s early trade. Nikkei 225, Kospi, Kosdaq, S&P 200 advanced up to 0.9 per cent.

Meanwhile, back home, here is a list of stocks that will see some action in trade on Friday:

Adani Enterprises: The conglomerate is set to enter the NSE Nifty50 index, replacing Shree Cement at the exchange. Factors like free float market capitalization drove changes and will be effective from September 30, 2022. According to Edelweiss Securities, the inclusion of Adani Enterprises on the Nifty50 could result in a net inflow of around $213 million, while Shree Cement will see an outflow of $87 million. READ MORE

UPL: The company elevated Mike Frank to Chief Executive Officer (CEO) and will include him in the member of the UPL’s Group Protection Board of Directors. Frank had joined the company earlier this year, as President and Chief Operating Officer of UPL’s Crop Protection business based out of their London headquarters. READ MORE

Hero MotoCorp: The two-wheeler major reported 92 per cent increase in total sales at 4.6 lakh units in August 2022 from 4.5 lakh units, in the year-ago period. Exports, however, declined to 1,868 units from 22,742 units in the corresponding period of last year. The company expects growth momentum to sustain on the back of festive season trends, better monsoon leading to healthier crop produce, and positive consumer sentiments. READ MORE

InterGlobe Aviation: According to the Directorate General of Civil Aviation (DGCA), an IndiGo aircraft enroute to Udaipur returned to New Delhi due to engine vibrations and the plan was grounded. The flight was operated by an A320 neo aircraft, which did an air turnback after there were vibrations in engine 2. The DGCA will conduct a detailed probe into the incident. READ MORE

Aurobindo Pharma: The pharma major’s wholly-owned arm, CuraTeQ Biologics, plans to invest around Rs 300 crore on capacity expansion of biologics manufacturing facilities. The board of CuraTeQ Biologics approved establishment of another mammalian cell culture manufacturing facility of higher capacity to fulfill future needs. Besides, the company also approved contract manufacturing operations for biologics. READ MORE

Indian Bank: The state-owned bank revised marginal cost of funds-based lending rates (MCLR) by 0.10 per cent across tenors. It has also revised the lending rates benchmarked on treasury bills. The benchmark one-year MCLR will be 7.75 per cent from September 3, as against the existing rate of 7.65 per cent.

LIC: The insurer plans to raise market share in non-participating insurance products and diversify their channel mix. With a market share of 65 per cent, Life India Insurance (LIC) offers 17 individual participating products, 17 individual non-participating products, 11 group products and 7 products with rider benefits.

Zee Entertainment: The company wrote to the Competition Commission of India (CCI) for permission to merge operations with Sony Entertainment. The company shared TV viewership market share data for the fiscal year ending March 2022 and year-to-date data of the ongoing financial year – FY23. The latest data suggested that the merged entity would have lower market share and not lead to any concentration of power.

Tata Motors: The automaker saw total sales surge 36 per cent to 78,843 units in August from 57,995 units in the same month of the previous year. Total domestic sales, too, increased 41 per cent to 76,479 units in August 2022 from 54,190 units in August 2021.