Indian benchmark indices are likely to open in the green as trends in the SGX Nifty indicate a gap-up opening with a gain of 114 points. In the previous session, the BSE Sensex closed above 60,000 mark for the first time since August 18, rising 322 points to 60,115, while its broader peer NSE Nifty 50 rose 103 points to 17,936. “The recent rebound in the global markets especially the US is adding to the market strength and we reiterate our immediate target of 18,100+ in Nifty. Apart from the heavyweights, participants should also look at broader indices for trading opportunities,” said Ajit Mishra, VP – Research, Religare Broking.
Stocks in focus on 13 September, Tuesday
Tata Consultancy Services: TCS has been chosen by C&S Wholesale Grocers, Inc. (C&S), an industry leader in supply chain solutions and wholesale grocery supply in the United States, to build a new operations platform on Google Cloud to reduce the company’s carbon footprint and enhance the customer experience. C&S has partnered with TCS to reimagine its operations platforms, including customer experience and grocery distribution. TCS will lead the company-wide project and help C&S establish a new cloud-based architecture that will unify its current systems.
HDFC Life: UK-based investment company Abrdn is planning to sell up to 4.3 crore sales representing 2 per cent of HDFC Life Insurance Company’s outstanding shares through a block deal to raise over Rs 2,425 crore. The Edinburgh-based company, which was formerly known as Standard Life Aberdeen, has offered the shares in the price band of Rs 564.1 to Rs 578.55, which is a discount of up to 2.5% on the scrip’s close on Monday in the block deal, reported Reuters.
Ujjivan Small Finance Bank: Ujjivan Small Finance Bank (SFB) on Monday launched its QIP (Qualified Institutional Placement) with a floor price of Rs 21.93 per share to meet the regulatory requirement ahead of merger with its parent company. Shares of Ujjivan Small Finance Bank on Monday closed 5.42% higher at Rs 25.30 apiece on BSE. It has gained over 20% in the last one month. In February this year, the lender had informed raising of up to Rs 600 crore by issuing shares to qualified institutional buyers in order to meet the regulatory requirements for amalgamation with its parent firm Ujjivan Financial Services.
Vedanta: Taking the first major step in its $20 billion joint venture with Taiwan’s Foxconn, Vedanta has selected Gujarat for its semiconductor project. The project will include display and semiconductor facilities near Ahmedabad. The Mumbai-headquartered oil-to-metals conglomerate has obtained financial and non-financial subsidies including capital expenditure and cheap electricity from Gujarat to build the semiconductor plants, news agency Reuters reported.
NTPC: National Thermal Power Corporation (NTPC) has paid a final dividend of Rs 2,908.99 crore for 2021-22 to its shareholders. The final dividend is 30% of the paid-up equity share capital of the company, an NTPC statement said.
Muthoot Capital: BNP Paribas Arbitrage bought 2.45 lakh equity shares in Muthoot Capital Services at an average price of Rs 196 per share, however, Elevation Capital VI FII Holdings offloaded 3,58,484 shares at an average price of Rs 196.47 per share.