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stocks to watch | Buzzing stocks | Nifty
Lovisha Darad | New Delhi Last Updated at September 1, 2022 08:42 IST
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Stocks to watch today: Indian equity markets are likely to witness pullback on Thursday amid weak global sentiments. At 7:45 am, the SGX Nifty Futures quoted 17,472 levels, down 282 odd-points.
Globally, the US markets fell on Wednesday as strong employment data fueled rate hike concerns. Dow Jones slipped 0.8 per cent, while the S&P 500 and NASDAQ Composite fell 0.7 per cent and 0.5 per cent, respectively.
Asia-Pacific markets, too, declined following weak Wall Street cues on Thursday morning. Nikkei 225, Topix, S&P 200, Kospi shed over 1 per cent each.
Meanwhile, back home, here is a list of stocks that may see action in Thursday’s trade:
Biocon: The US Food and Drug Administration (USFDA) issued Form 483 with 11 observations each for two sites in Biocon’s Bengaluru facility and six plants for a plant in Malaysia, following inspection of seven manufacturing facilities of arm Biocon Biologics. The inspections started with the Bengaluru site on August 11, 2022 and concluded with the Malaysia site on August 30, 2022. READ MORE
SpiceJet: The airline operator clocked loss of Rs 458 crore in the March quarter of FY22 (Q4FY22) and Rs 789 crore in the April quarter of FY23 (Q1FY23) due to high fuel prices, weaker rupee, and third wave of covid-19. The airline has been making losses for the last four years. Moreover, it is operating less than 50 per cent of flights due to DCGA’s order due to a spate of incidents. READ MORE
Ashok Leyland: The commercial vehicle maker won orders from major fleets for 1,400 school buses in UAE, making it the company’s largest ever supply of school buses in this country. 55-seater Falcon bus and 32-seater Oyster bus – will be supplied from Ashok Leyland's $50 million manufacturing facility in Ras Al Khaimah, UAE, which the only certified local bus making facility in the entire Gulf Cooperation Council (GCC) region. READ MORE
NTPC: The state-run power giant received shareholders’ approval to raise up to Rs 12,000 crore through issuance of non-convertible debentures on private placement basis. The funds will be raised through one or two tranches and will be utilized for capital expenditure, working capital, and general corporate purposes. A major portion of the capital expenditure will be funded by debt as the company is in capacity expansion mode. READ MORE
Maruti Suzuki: Chairman RC Bhargava said that the automaker’s early stage electric vehicles (EVs) will be launched in the upper price band. The company expects the first launch of EVs in 2024-25 and production shall take place in Gujarat’s Suzuki plant. The carmaker will manufacture around 4 lakh to 5 lakh compressed natural gas (CNG) cars in 2022-23, marking a big jump from 2.5 lakh CNG cars manufactured in 2021-22. READ MORE
Punjab National Bank: The state-run lender raised their marginal cost of funds-based lending rate (MCLR) by 0.05 per cent across tenors, making most of the consumer loans costlier. The benchmark one-year tenor MCLR, used to price most consumer loans such as car, auto and personal, will be at 7.7 per cent against the existing 7.65 per cent.
ONGC: The oil and gas producer got Rajesh Kumar Srivastava as record third interim in a row. Srivastava, who is the senior-most director on the ONGC board, has been given additional charge of chairman and managing director after current acting head Alka Mittal superannuated.
Havells: The company plans to expand capacity of washing machine production at its Rajasthan's Ghiloth plant, where it will invest Rs 130 crore. The Ghiloth plant has an existing capacity to roll out 3 lakh units per annum and the company plans to add an additional capacity of 3.8 lakh units per annum.
Coffee Day Enterprises: The company declared that the debt levels have been reduced to Rs 1,810 crore as on March, 2022 from Rs 7,214 crore as on March, 2019. However, the company said that there have been certain defaults in repayment of principal and interest of the loans and certain lenders have exercised their right to recall loans.
Inox Leisure: The multiplex operator is confident to pursue expansion strategy and has a pipeline of 834 additional screens after FY23. The company estimates the total screen count to go up to 752 by end of the ongoing fiscal year, from 692 screens in 72 cities spread across the country.
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