Indian markets may open on a positive note on Wednesday on positive global cues. At 0720 IST Hours, nifty Futures on the Singapore Exchange were trading 47 points or 0.27 per cent higher at 17,426.50, indicating that Dalal Street was headed for a positive start on Wednesday. On Wall Street, on the other hand, stock indexes mostly closed lower, although the tech-heavy Nasdaq hit another all-time high. The S&P 500 fell 15.40 points to end at 4,520.03. The Dow Jones Industrial Average fell 269.09 points, or 0.8 percent, to 35,100, while the technology-heavy Nasdaq Composite rose 10.81 points, or 0.1 percent, to 15,374.33. Apart from the US stock market, Hong Kong’s Hang Seng index rose 0.16 per cent, or 42.48 points, to 26,396.11. The Shanghai Composite was down 0.09 per cent, or 3.18 points, at 3,673.40, while the Shenzhen Composite Index on the Second China Exchange was flat at 2,491.27, up 0.63 points. In Japan, the benchmark Nikkei 225 index was down 0.34 per cent or 100.87 points at 29,815.27, while the broader Topix index was down 0.20 per cent or 4.11 points at 2,059.27.
On Tuesday, the BSE Sensex closed in the red at 58,129.95, down 17.43 points or 0.03 per cent. However, the broader Nifty was also down 15.70 points or 0.09 per cent at 17,362. India’s volatility gauge India Wix is down 1.2 per cent. BPCL, Sun Pharma, Tech Mahindra, Wipro and Axis Bank were the top gainers in Nifty. Bharti Airtel, HDFC, Grasim Industries, ITC and IndusInd Bank were among the top gainers.
Here are some stocks that will be in focus today:
Vodafone Idea: It has outperformed the top-performing BSE Telecom index, which had gained 3.08 per cent on Tuesday. The stock has formed a long green candle with a good increase in volume and was trading above its 20 and 30-day moving averages.
PSP Projects: The company has received letters of intent for projects worth Rs 132.57 crore for the industrial and precast segments from various clients in Gujarat.
Wipro: The company has announced a partnership with Securonix to provide managed security services.
Cipla: The company has written to the National Pharmaceutical Pricing Authority (NPPA) citing a substantial increase in the cost of a key ingredient called propellant P227 to allow the price hike of some respiratory drugs.
Bajaj Consumer Care: ICICI Prudential Asset Management Company sold 1.5 lakh equity shares in the company through an open market transaction, reducing shareholding from 3.93 per cent to 3.83 per cent.
TVS Motor Company: The company has appointed ETG Logistics (ETGL) as its new distributor in South Africa as part of its expansion plan in the country.
Dr Reddy’s Laboratories: The company announced the launch of prescription drugs Minoxidil Topical Solution USP 2% and 5% for the treatment of Female Pattern Hair Loss (FPHL). The products will be sold under the brand names Mintop TM 2 percent and Mintop Eva 5 percent respectively.
ICRA: Life Insurance Corporation of India sold over 2.07 lakh equity shares in the company through open market transactions, reducing the shareholding from 7.96 per cent to 5.81 per cent.
IRCTC : Continuing its rally for the third consecutive session, IRCTC stock has gained 9.56 per cent in Tuesday’s trading session. The stock made a new 52-week high of Rs 3,305 per share. The company’s 22nd Annual General Meeting (AGM) is scheduled to be held on September 29, 2021, which is likely to keep the stock in the news for the coming trading sessions.
Pill Italica Lifestyle: Promoter arm Dawood Investments sold 46 lakh equity shares in the company through open market transaction, reducing the shareholding to 52.50 per cent from 54.46 per cent earlier.
Eid Parry India: The company has approved setting up of 120 KLPD grain/sugar syrup/molasses based distillery at Sankili unit in Andhra Pradesh.
Bajaj Consumer Care: ICICI Prudential Asset Management Company sold 1.5 lakh equity shares in the company through an open market transaction, reducing the shareholding to 3.83% from the earlier 3.93%.
International Conveyor – The Company sold 1,34,80,000 Equity Shares representing 7.95 per cent equity capital of M/s Alpro International out of total investment of 2,69,60,077 Equity Shares at a price of Rs.55 per share at Rs.74.14 crore.
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