Buzzing Stocks in News: Key Movements Expected on 12th September
The Indian stock market is poised for a positive opening today, with both the Sensex and Nifty indices anticipated to rise. Indicators from GIFT Nifty suggest that the Nifty index may begin trading with a gain of approximately 98 points. In this article, we will explore ten stocks that are expected to experience significant movements based on recent news and developments. These stocks include prominent names like NBCC, SBI, and Adani Ports.
1. NBCC (India) Limited
NBCC has signed a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Limited (MTNL) to collaborate on the development of a prime land parcel owned by MTNL in New Delhi. This project is projected to be worth around Rs 1,600 crore, highlighting NBCC’s strategic growth initiatives in urban development.
2. State Bank of India (SBI)
SBI has announced plans for its overseas banking subsidiary, Bank SBI Indonesia (BSBII), to issue preference shares to PT Bank KEB Hana, Indonesia. This move aims to ensure regulatory compliance by meeting the minimum local shareholding requirement of 1%. With SBI holding a 99.56% stake in BSBII, this step is crucial for strengthening its operations in the region.
3. Hajur Multi Projects Limited
The company has secured a work order from the National Highways Authority of India (NHAI) to act as a user fee collection agency at Mulvad FP. This project involves the widening of 2 lanes with paved shoulders along NH 218 in Karnataka, valued at Rs 2.59 crore, emphasizing Hajur Multi Projects’ role in infrastructure development.
4. Max Healthcare
Max Healthcare’s subsidiary, ET Planners Private Limited, has received board approval for voluntary liquidation. This decision aims to streamline operations by consolidating business activities with its holding company, Alps Hospital Limited. This move is part of Max Healthcare’s strategy to enhance operational efficiency.
5. Hindustan Petroleum Corporation Limited (HPCL)
The HPCL board has greenlit two significant projects, including the Rs 2,212 crore Visakh Raipur Pipeline Project, designed to facilitate the movement of products from the Visakh Refinery. Additionally, the cost of the Visakh Refinery Modernisation Project has been revised to Rs 30,609 crore, with a completion target set for October 2024.
6. Adani Ports and SEZ
Adani Ports has made headlines by signing a concession agreement with the Deendayal Port Authority for the development of berth number 13 at Kandla in Gujarat. This project will be managed by a new subsidiary, DPA Container and Clean Cargo Terminal Ltd. The operational capacity of this new berth is anticipated to reach 5.7 million metric tons annually by FY27, bolstering Adani Ports’ extensive logistics network.
7. Wipro
Wipro has announced a partnership with JFK International Air Terminal (JFKIAT) to develop a cloud data strategy utilizing Microsoft’s Azure Data Platform. This three-year initiative aims to optimize passenger queuing, improve staffing efficiency, consolidate security data, and track sustainability metrics, reinforcing Wipro’s commitment to enhancing digital transformation in the aviation sector.
8. Nazara Technologies
Nazara Technologies has acquired a 15.86% stake in GetStan Technologies Pvt Ltd, an emerging esports community platform in India. This acquisition, valued at Rs 18.4 crore, underscores Nazara’s strategic intent to expand its footprint in the fast-growing esports market, aligning with global trends in gaming and digital entertainment.
9. Ramkrishna Forgings
Ramkrishna Forgings has sold its entire 100% equity stake in Globe All India Services Limited to Yatra Online Limited for Rs 128 crore. This move reflects Ramkrishna Forgings’ strategy to optimize its asset portfolio and focus on core operations.
10. GE T&D India
GE T&D India has secured a significant order from Grid Solutions for the supply and supervision of high voltage products. This order enhances GE T&D’s position in the market and highlights its commitment to providing reliable energy solutions in the electrical transmission sector.
