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Stocks To Watch: Tata Steel, APSEZ, Vedanta, BPCL, Nazara Technologies
Source: Business Standard
Stocks To Watch, Thursday, September 12, 2024: Indian benchmark equity indices were likely to start on a positive note on Thursday, following a strong overnight showing on Wall Street that saw all the three frontline indices there closing higher.
The same was indicated by GIFT Nifty index at 6:50 AM, when it was trading at 25,100, around 150 points ahead of Nifty futures’ last close.
Markets in the Asia-Pacific region opened higher on Thursday, following the overnight gains on Wall Street after a volatile session spurred by inflation data in the country.
Japan’s Nikkei 225 jumped 3 per cent in early trading and the broad-based Topix gained 2.48 per cent.
In South Korea, Kospi opened 1.2 per cent higher and the small cap Kosdaq gained 2.5 per cent. Australia’s S&P/ASX 200 was up 0.6 per cent, while Hong Kong’s Hang Seng index futures were at 17,194, higher than the HSI’s last close of 17,108.71.
Futures for mainland China’s CSI 300 stood at 3,181.6, lower than its Wednesday close at 3,186.13.
Overnight in the US, the broad-based S&P 500 had gained 1.07 per cent, while the Nasdaq Composite rallied 2.17 per cent. The Dow Jones Industrial Index inched up 0.31 per cent.
Meanwhile, here are a few stocks likely to be in focus today:
Tata Steel: The company has secured a £500 million grant from the UK government for the green steel project at its Port Talbot facility. This funding supports the installation of a state-of-the-art electric arc furnace (EAF) and aims to transition the plant to greener steelmaking.
Adani Ports and Special Economic Zone: APSEZ has signed a concession agreement to develop Berth No. 13 at Deendayal Port, Kandla, Gujarat, through its subsidiary DPA Container and Clean Cargo Terminal Limited (DPACCCTL). The berth, expected to handle multipurpose clean cargo and container cargo, is projected to be operational by FY27.
Bharat Petroleum Corporation: BPCL, through its subsidiary Urja Bharat Pte Limited (UBPL), has been awarded a production concession in Abu Dhabi, covering an area of 6,162 square kilometers and includes conventional oil and gas resources.
Vedanta: The company has raised $900 million through a US dollar bond issue to prepay existing debt. The bond, issued at a 10.875 per cent coupon rate, was significantly oversubscribed.
Nibe: The company’s subsidiary Nibe Space announced plans to establish India’s first multi-sensor, all-weather Earth observation satellite constellation, comprising 40 satellites over the next five to six years.
SpiceJet: The Delhi High Court upheld the grounding of three leased engines from French lessors Team France 01 SAS and Sunbird France 02 SAS, and ordered their return to the lessors, affecting SpiceJet’s fleet.
Ceat: The company inaugurated a new Truck Bus Radial (TBR) production line at its Chennai plant, which will boost its daily production capacity and enhance its global market presence.
Engineers India: EIL secured new orders worth Rs 4,681 crore in the first five months of FY2025, marking a 37 per cent increase compared to the previous year.
Nazara Technologies: The gaming company acquired a 15.86 per cent stake in blockchain-based e-sports startup Stan for $2.2 million. The platform focuses on mobile-first fan engagement and digital collectibles.
Aurionpro Solutions: The company has secured a Rs 200 crore contract from the Municipal Corporation of Panvel for its ‘Safe City’ initiative, which includes implementing surveillance and smart city technologies.
First Published: Sep 12 2024 | 7:00 AM IST
