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 higher as the index was up 81.50 points or 0.32% at 25,348 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. On Wednesday, the NSE Nifty 50 closed the session 81.15 points or 0.32% lower at 25,198.70, while the BSE Sensex fell 202.80 points or 0.25% to close at 82,352.64.

Stocks to watch on September 05, 2024

Reliance Industries 

The company’s board will meet to consider the 1:1 bonus issue. Also, Reliance Industries has been approved to set up a battery manufacturing facility for up to 10 GW under the Rs 3,620 crore-Production Linked Incentives (PLI) scheme for ACC Battery Storage, the government said on Wednesday.

Suzlon Energy 

Suzlon Energy on Wednesday announced the sale of its corporate office, One Earth, for Rs 440 crore. The property has been sold to OE Business Park (OEBPPL), a special-purpose vehicle, shares of which are held by funds managed by 360 ONE Alternates Asset Management. Suzlon said this was part of the company’s strategy of disinvesting non-core assets.

Godfrey Phillips India

Tobacco major Godfrey Phillips India’s Samir Modi and his brother Lalit Modi are engaged in a tussle for power with their mother Bina Modi over an inheritance that could be worth anywhere between Rs 11,000 -30,000 crore, according to sources. In an exclusive interaction with FinancialExpress.com, Samir Modi, while maintaining that he is willing to do whatever it takes to end the family dispute, hopes that the shareholders will vote for the right reasons. He referred to the current board as ‘defunct’, referred to his mother as ‘dictator’ and said that the business is at ‘risk of losing almost everything’ in the hands of an ‘inexperienced’ head. 

Sona BLW

The company has launched a QIP to raise up to Rs 2,400 crore. The indicative issue price is between Rs 675 to 700 per share and the equity dilution at the lower end of the price range will be 6.06%, reported CNBC TV18 citing sources.

General Insurance Corporation

The government will exercise the oversubscription option in the offer for sale of General Insurance Corp. shares. This will include an additional 50.49 lakh equity shares.

PNB Housing Finance 

PNB Housing Finance’s Board of Directors will convene on Monday, September 9, 2024, to deliberate on and potentially approve the issuance of Non-Convertible Debentures (NCDs) up to Rs 2,500 crore.

Vedanta

Credit rating agency ICRA upgraded Vedanta’s long-term credit rating to AA from AA-, citing the Mumbai-based mining firm’s successful capital raising of $1 billion through a qualified institutional placement (QIP) and an additional $400 million from selling shares of Hindustan Zinc.

Matrimony.com

The board of directors of Matrimony.com will meet on September 05 to consider buyback of shares. 

Century Textiles and Industries 

Century Textiles and Industries said it has issued a corporate guarantee valued at Rs 400 crore in favour of Hindalco Industries.