Stocks to Watch: Cadila Healthcare, HCL Tech, Adani Ports, SBI Cards, Websol Energy and More

·3-min read

The Indian markets, taking mixed cues globally, are expected to open in the positive territory. This week meeting of central banks and the US Fed that is expected to announce something on the timeline of the tapering of asset purchase plan are influencing the markets across the world. Thus the markets are bit cautious and are looking up to the meeting keenly. At 0734 hours IST, the Nifty futures on Singapore Exchange traded 56.5 points, or 0.33 per cent, higher at 17,430, signaling that Dalal Street was headed for a positive start on Tuesday.

The stock markets in China, South Korea and Taiwan are closed on Tuesday for holidays. Japan’s key Nikkei 225 index dived 2.07 per cent or 630.51 points to 29,869.54 in early trade. In Hong Kong, The Hang Seng index sank 1.08 per cent, or 259.96 points, to 23,839.18. The Wall Street fell in a broad sell-off on Monday as fear of contagion from potential collapse of China’s Evergrande drove investors out of equities in a flight for safety. The Dow Jones Industrial Average fell 614.41 points, or 1.78 per cent, to 33,970.47, the S&P500 index lost 75.26 points, or 1.70 per cent, to 4,357.73 and the Nasdaq Composite dropped 330.07 points, or 2.19 per cent, to 14,713.90.

However, on Monday, the key benchmark indices ended in red for the second consecutive session, the 30-share BSE Sensex ended 524.96 points or 0.89 per cent lower at 58,490.93. The broader NSE Nifty tumbled 188.25 points or 1.07 per cent to close at 17,396.90. Tata Steel was the top loser on the Sensex chart, crashing 9.53 per cent, followed by SBI, IndusInd Bank, HDFC, Dr Reddy’s, M&M and UltraTech Cement.

Here are stocks that would be in focus today:

Adani Ports: The Competition Commission of India (CCI) on Monday said it has approved Adani Ports and Special Economic Zone Ltd’s acquisition of 10.40 per cent stake in Gangavaram Port.

SBI Cards: The private equity firm Carlyle Group will nearly halve its stake in SBI Cards and Payment Services Ltd for as much as $443 million, or ₹3,267.2 crore.

Cadila Healthcare: The company on Monday said its subsidiary has inked a pact with Integrace Pvt Ltd to sell two brands — Mifegest and Cytolog. Zydus Healthcare Ltd, a wholly-owned subsidiary of the company, has inked the agreement with Integrace, a part of the portfolio companies of private equity firm True North.

Kitex Garments: The company has signed the Memorandum of Understanding (MoU) with Telangana State Government for investing Rs 2,406 crore in Telangana.

Websol Energy System: Sumit Kumar Shaw, Chief Financial Officer has tendered resignation.

Universal Autofoundry: The company on October 1 will consider the issue of bonus shares, and migration from BSE SME Segment to the Main Board of BSE.

HCL Technologies: The company announced a five-year, digital transformation deal with MKS Instruments Inc., a global provider of instruments, systems, subsystems, and solutions for advanced manufacturing processes, to improve performance, productivity, and speed to market.

The Mandhana Retail Ventures: Rakesh Jhunjhunwala sold additional 98,094 equity shares in the company on September 17 and September 20, reducing shareholding to 10.32% from 10.77% earlier.

Action Construction Equipment: The company launched its Qualified Institutions Placement for fundraising. The floor price has been fixed at Rs 254.55 per share for the offer.

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

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting