Stocks to Watch: Torrent Pharma, HAL, ONGC, Dr Reddy’s, BHEL, BPCL, Birla Corp, Motherson Sumi
The Sensex and Nifty indices are looking to open in the red on Wednesday amid weak global cues. At 07:30 am, the SGX Nifty quoted at 16,880, indicating an opening loss of around 100 points on the Nifty index.
Globally, all Asian indices treaded lower this morning, while US markets remained weak overnight.
That said, here are some stocks to watch out for in trade today:
Torrent Pharmaceuticals: Ahmedabad-headquartered company has signed a definitive agreement to acquire cosmetic dermatology player Curatio Healthcare for Rs 2,000 crore. Curatio has operations in India, Nepal, Srilanka and the Philippines. The deal catapults Torrent from the 21st spot in dermatology in the domestic market to the tenth spot. Read here
HAL: An Integrated Cryogenic Engine Manufacturing Facility (ICMF) set up by Hindustan Aeronautics Limited (HAL) that would cater to the entire rocket engine production under one roof for Indian Space Research Organisation (ISRO) was inaugurated by President Droupadi Murmu here on Tuesday. Read more
ONGC: India’s Oil and Natural Gas Corp has for the first time sold oil through a three-month local tender, commanding $5-$8 per barrel more than existing rates under new rules that allow producers marketing freedom, as per Reuters. Read here.
Birla Corporation: The company will be investing at least $1 billion over the next eight years to ramp up cement production capacity to 30 million tonnes (mt). Birla Corporation’s consolidated capacity stands at nearly 20 mt after the commissioning of the 3.9 mt greenfield plant at Mukutban in Maharashtra by subsidiary, RCCPL Pvt Ltd, in April this year. Read more
Dr Reddy’s: The company has received US FDA nod for marketing Timolol Maleate, which is used to treat Glaucoma.
Bharat Heavy Electrical: The company has received an order for setting up the 2×660 MW Talcher thermal power project Stage-III on EPC (engineering, procurement and construction) basis from NTPC.
HG Infra Engineering: Subsidiary HG Khammam Devarapalle Pkg-1 Private Limited has received financial closure for Greenfield highway project in Telangana, from National Highways Authority of India.
Bharat Petroleum Corporation: Life Insurance Corporation of India has reportedly acquired additional 2 per cent stake in the company via open market transactions. With this, its shareholding now stands at 9.04 per cent, up from 7.03 per cent earlier.
Motherson Sumi Wiring India: The company said the board of directors will meet on September 30 to consider a proposal for issuance of bonus shares to the equity shareholders of the company.
Stocks in F&O ban: Vodafone Idea, Zee Entertainment.