HomeMarket InsiderStocks To Watch: Axis Bank, Tech Mahindra, Vedanta, Delta Corp, ONGC And...

Stocks To Watch: Axis Bank, Tech Mahindra, Vedanta, Delta Corp, ONGC And Others

Indian equities are set to resume trading today following a one-day break, amid a backdrop of overnight developments in the global financial markets. The trading session is marked by mixed signals from Asian indices and encouraging gains in the United States. At 7:40 AM IST, Gift Nifty was quoting at 19,310, up 41 points compared to Nifty Futures’ previous close.

In Asia, markets displayed a varied response, with Hong Kong’s Hang Seng surging by 2%, Japan’s Nikkei rising by 1%, but Australia and South Korea’s key indices down up to 0.35%. Overnight, the US markets reported gains, with the Dow Jones Industrial Average rising 0.62%, the S&P 500 adding 0.73%, and the Nasdaq Composite climbing 0.93%.

Here’s a list of stocks to watch in today’s trading session:

Kfin Technologies: The company announced that it will not proceed with the buyback of redeemable preference shares until further notice. This decision came in response to the Office of the Joint Director, Enforcement Directorate, Hyderabad Zonal Office issuing a notice to Adhiraj Parthasarathy, in which the ED has provisionally attached the RPSs.

Delta Corp: The Bombay High Court has directed the Directorate General of GST Intelligence, Hyderabad, to refrain from passing a final order on the Rs 16,195-crore tax notice against Delta Corp without prior permission from the court.

Vedanta: Ajay Goel, the former Chief Financial Officer (CFO) at Indian edtech startup Byju’s, is set to return as Vedanta’s CFO, effective October 30, following the resignation of Sonal Shrivastava.

JSW Steel: The company has revealed plans to establish a green steel manufacturing facility by 2030 as part of its response to the European Union’s Carbon Border Adjustment Mechanism (CBAM).

Power Mech Projects: The Fund Raising Committee has approved the issue and allotment of 9,01,789 equity shares, worth Rs 350 crore, to 17 qualified institutional buyers.

PNB Housing Finance: The company reported a 45.9% increase in net profit for Q2FY24, reaching Rs 383 crore, while revenue from operations grew by 5.5% year-on-year to Rs 1,777.8 crore.

ONGC: The Oil and Natural Gas Corporation has won a bid to acquire PTC India Ltd’s wind power unit for Rs 925 crore.

Siemens: Siemens India has filed a writ petition before the Bombay High Court, contesting the showcause notice for Goods and Services Tax (GST) worth Rs 245.9 crore.

Tech Mahindra: Tech Mahindra Americas Inc., a wholly-owned subsidiary of Tech Mahindra, has approved the divestment of a 30% stake in Avion Networks Inc for a consideration amount worth $50,000 (approximately Rs 41 lakh).

Lupin: The company has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for Fluconazole Tablets, USP.

NDTV: The media company reported a 51% decline in net profit for Q2FY24, amounting to Rs 6 crore.

Mahindra Logistics: The company logged a loss of Rs 15.5 crore as opposed to a profit of Rs 11.9 crore year-on-year.

Indian investors will be closely watching these stocks and global market trends as they navigate today’s trading session. The diverse market movements in Asia and the positive performance in the US may provide cues for investors as they make trading decisions in the Indian equities market.

News Desk
News Deskhttps://businessheadline.in
Business Headline aims at providing you with all the insights around the business world along with creative write-ups and reviews by renowned global personalities. Additionally the Business Blog will help startups and enterprises to develop their business.
- Advertisment -

Most Popular