GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was up 92 points or 0.37% at 25,070 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 closed the session 123 points or 0.49% lower at 24,918, while the BSE Sensex fell 398 points or 0.49% to close at 81,523.
Stocks to watch on September 12, 2024
L&T
L&T Semiconductor Technologies, a subsidiary of engineering and construction major L&T, will invest about $300 million (Rs 2,500 crore) over the next three years to set up a fabless semiconductor project. This means that the company will get into designing the chips and make it production-ready, which can then be outsourced to the semiconductor fabs.
Tata Steel
Tata Steel signed a £500 million grant funding agreement with the UK government to help speed up the £1.25 billion green steel project at the Port Talbot steelworks factory. The project involves replacing the blast furnaces with electric arc furnace and is expected to help reduce the UK’s industrial carbon emissions by 8% and Port Talbot’s by 90%.
Adani Ports
Adani Ports and Special Economic Zone (APSEZ) has signed a concession agreement with DPA to develop Berth No 13 at Deendayal Port, Kandla, Gujarat on Wednesday. According to a statement from APSEZ, DPA Container and Clean Cargo Terminal Limited (DPACCCTL), a wholly-owned company, will manage operations at the berth.
Hindustan Petroleum
Hindustan Petroleum Corporation (HPCL) has approved an infrastructure investment of Rs 2,212 crore and has named a new chief financial officer (CFO) following its latest board meeting.
BPCL
Bharat Petroleum Corporation (BPCL) said its subsidiary along with Indian Oil Corporation (IOC) has been awarded a production concession by The Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi. The company said the production concession agreement follows the award of the exploration and production concession to Urja Bharat Pte Limited (UBPL) in March 2019, and the successful completion of the exploration phase.
NBCC
NBCC and Mahanagar Telephone Nigam Ltd. (MTNL) have signed a memorandum of understanding on Wednesday for a Rs 1,600 crore project that involves the development of a land parcel of MTNL in New Delhi, according to an exchange filing. The project on Pankha Road aims to convert the land, measuring approximately around 13.9 acres, into a state-of-the-art residential or commercial area using the expertise and resources of both companies, it said.
Route Mobile
Route Mobile’s promoter entity – Proximus Opal – plans to sell up to 38 lakh shares, or 6.03% stake in the company through an Offer for Sale (OFS) on September 12-13, as per an exchange filing. The floor price of the OFS is without any discount Rs 1,635 per share, and it will help the company meet the regulator’s minimum public shareholding requirement.
Nazara Technologies
Nazara Technologies, through its wholly owned subsidiary Nazara Dubai FZ, announced the acquisition of a 15.86% stake in GetStan Technologies Pte. Ltd (STAN), an esports community platform in India. Nazara will acquire the stake for approximately Rs 18.4 crore in an all-cash secondary transaction.
Wipro
Wipro is helping JFK International Air Terminal (JFKIAT) – the operator of JFK’s Terminal 4 – in developing a cloud data strategy, leveraging Microsoft’s Azure Data Platform.