Stocks in focus: Happiest Minds Technologies, Yes Bank, SpiceJet, InterGlobe Aviation, MindTree, Marico

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September 17, 2020 8:49 AM

Nifty futures were trading weak, down 84.10 points or 0.72 per cent at 11,527.50 on Singaporean Exchange, suggesting a gap-down start for BSE Sensex and Nifty 50 on Thursday

US Elections 2020, stock market, Nasdaq 100, S&P 500, Fed stimulus, GDP, Investing abroadInvesting abroad as a part of the diversification process across geographies is a well-crafted strategy.

Nifty futures were trading weak, down 84.10 points or 0.72 per cent at 11,527.50 on Singaporean Exchange, suggesting a gap-down start for BSE Sensex and Nifty 50 on Thursday. A host of factors such as Defence Minister Rajnath Singh’s statement on India-China standoff in Rajya Sabha, US Federal Reserve decision to hold interest rates near zero for at least 3 years, developments around COVID-19, oil prices and trends in coronavirus cases, are among factors that will sway investor sentiment today. “The lingering India-China border tension would also be radar. As defensive are showing tremendous resilience, we suggest preferring stocks from pharma,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Happiest Minds Technologies: IT services firm Happiest Minds Technologies shares will be listed on stock exchanges today. The IPO of the IT firm was subscribed over 150 times. The issue was sold from September 7-9 in the price band of Rs 165-166.

SpiceJet, InterGlobe Aviation: Airlines in India are seeking at least $1.5 billion as an interest-free credit line from the government, civil aviation minister Hardeep Singh Puri said, as lockdowns and restrictions linked to the coronavirus pandemic hit demand for air travel, according to a Bloomberg report.

Yes Bank: Yes Bank on Wednesday moved the Supreme Court seeking transfer of the petitions pending before various high courts and consumer forum to the Bombay High Court. Various investors have challenged the Bank’s March decision to write off two tranches of additional tier-1 bonds issued by it in 2016 and 2017. AT-1 bonds worth Rs 8,415 crore were completely written off after a scheme of reconstruction for the bank was approved by the government and the RBI.

Marico: FMCG firm announced its foray into the traditional Ayurveda products through its popular brand Saffola. The company has introduced Saffola ImmuniVeda range in the healthy foods and immunity-boosting space, a segment which is witnessing a rapid growth led by the increased awareness and interest post-pandemic by the people, it said in a statement.

MindTree: Mindtree co-founder Krishnakumar Natarajan and his family have sold over 42 lakh shares of the company, reducing their combined shareholding to 2.29 per cent. The transactions were carried out by Krishnakumar, wife Akila Krishnakumar and sons Siddarth and Abhirath between April 30 and September 14, according to a PTI report.

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