Market Overview: On September 30, market sentiments are leaning bearish with the Sensex and Nifty indices expected to open in the red. GIFT Nifty points towards a potential decline of approximately 54 points in the Nifty index today. In this context, we highlight ten stocks that are anticipated to experience significant movements based on recent developments. This includes notable mentions such as Welspun Enterprises and Reliance Infrastructure.
Key Stocks to Watch
1. Welspun Enterprises
Welspun Enterprises has emerged as the lowest bidder for a substantial project valued at ₹1,989.9 crore. This initiative, sanctioned by the Brihanmumbai Municipal Corporation (BMC), aims at the design and construction of an 8.48 km Tertiary-treated water conveyance tunnel, connecting Dharavi Waste Water Treatment Facility (WWTF) to Ghatkopar WWTF. The project is set for completion within a timeline of 93 months, positioning Welspun as a key player in infrastructure development.
2. Punjab National Bank (PNB)
Punjab National Bank has successfully raised ₹5,000 crore through a Qualified Institutions Placement (QIP). The bank has agreed to allot 48.19 crore shares to qualified institutional buyers at a price of ₹103.75 per share, attracting significant investment interest from institutions like Citigroup, BofA Securities, and Goldman Sachs. This infusion of capital is expected to strengthen PNB’s balance sheet and enhance its lending capacity.
3. Transaction Fees Update
As of October 1, an update on transaction fees for Sensex and Bankex options has been announced. A fixed charge of ₹3,250 per crore on premium turnover value will now apply, compared to the previous slab system ranging from ₹500 to ₹4,950. This revision is designed to streamline trading costs for market participants.
4. Bharat Electronics
The Ministry of Corporate Affairs has approved a pivotal joint venture, ‘BEL IAI Aerosystems’, between Bharat Electronics and the Israel Aerospace Industries. This partnership is expected to leverage advanced technologies and enhance capabilities in the aerospace sector.
5. Adani Enterprises
Adani Airport Holdings has entered a significant deal to acquire a 74% stake in Cococart Ventures for ₹200 crore through its joint venture, April Moon Retail. This acquisition aligns with Adani’s strategy to diversify its portfolio in the retail sector and tap into the growing ecommerce landscape.
6. LTI Mindtree
LTI Mindtree has fortified its collaboration with Currys, a leading UK electronics retailer. The partnership entails re-platforming Currys’ website on Salesforce Commerce Cloud, while also rolling out in-store client applications and implementing Service Cloud for enhanced customer support. This venture marks a strategic move to innovate and enhance user experience.
7. Mangalore Chemicals and Fertilizers
The company has resumed operations at its ammonia and urea production facilities after a scheduled shutdown on September 6 for catalyst replacement. The quick resumption is expected to stabilize production and meet market demands.
8. Asian Energy Services
Asian Energy Services has secured a contract worth ₹82 crore from Oil India limited for a 2D seismic data acquisition project. The contract, covering 4,300 linear kilometers in the Rajasthan Basin under ‘Mission Anvil’, is to be completed within 18 months, expanding Asian Energy’s order book to ₹1,000 crore.
9. Piramal Pharma
Piramal Pharma has received positive feedback from the FDA following an inspection of its manufacturing plants in Ahmedabad. The FDA issued a clean Establishment Inspection Report, with zero Form 483 observations, positioning Piramal as a reliable player in the pharmaceutical sector.
10. Reliance Infrastructure
Reliance Infrastructure, led by Anil Ambani, has secured a favorable ruling from the Calcutta High Court regarding a ₹780 crore arbitration dispute with Damodar Valley Corporation. The court upheld the decision of the Arbitration Tribunal, rejecting DVC’s appeal, hence providing a significant financial and operational relief for Reliance Infrastructure.
