Investors will keep a close watch on the outcome of a key SEBI meeting and CPI inflation data for August
Indian equity markets ended higher on Thursday, a seventh straight gain, with financials, energy, and media sectors advancing, while IT, auto, and consumer durables ended in the red.
The markets rallied on renewed optimism around a trade resolution with the US as Commerce Minister Piyush Goyal stated that he was confident the first tranche of the US-India trade deal would be finalized by November.
Broader markets are set for a flat-to-negative opening on Friday, as GIFT Nifty, an early indicator for the Nifty 50 index, edged 0.03% lower to 25,180.5 at 8:25 am IST.
Investors will closely monitor the outcome of SEBI’s board meeting later in the day, during which they are expected to discuss topics such as IPOs and derivatives trading, among others. CPI inflation data for August is also due later today.
Asian markets were largely positive in early trade, except for the bourses in Singapore and New Zealand. US markets hit record highs on hopes of a Federal rate cut after CPI inflation and jobless claims picked up.
Gold spot price was 0.15% higher at ₹3,648.12 per ounce, and Brent crude traded down 0.57% at $65.86 per barrel.
Stock Watch
Infosys: Board approved the largest-ever buyback of ₹18,000 crore at ₹1,800 per share, representing 2.41% of equity. Infosys also entered a 10-year deal with HanesBrands to manage its digital, applications, and data.
Lodha Developers: Signed MoU to set up a data centre park in Palava with investments of over ₹30,000 crore.
Bharat Forge: Partnered with the UK’s Windracers to deploy heavy-lift drones in India and also tied up with the UAE’s MP3 International to supply artillery spare parts via its subsidiary.
Consolidated Construction Consortium: Won new orders worth ₹180 crore in its buildings and factories division.
NBCC India: Signed an MoU with RIICO for a ₹3,700 crore project to develop Rajasthan Mandapam and allied infrastructure near Jaipur Airport.
JBM Auto: Subsidiary JBM Ecolife secured a $100 million IFC investment to deploy modern e-buses across Maharashtra, Assam, and Gujarat.
JSW Infrastructure: Subsidiary acquired an 86-acre brownfield rail siding in Ballari for ₹57 crore from Hothur Ispat.
Canara Bank: Canara Robeco AMC, a subsidiary of the bank, received SEBI’s observation letter to proceed with filing RHP for its planned IPO.
Marico: To buy the remaining 46.02% in HW Wellness (True Elements) for ₹138 crore.
Cohance Lifesciences: USFDA completed a cGMP audit at its Jaggaiahpet API unit with zero observations, clearing compliance.
State Bank of India: FSIB has recommended Ravi Ranjan as the next Managing Director of the bank.
Mahindra & Mahindra: Mahindra Holdings acquired the entire stake in M&M Contech and PSL Media.
GMR Power & Urban Infra: Supreme Court upheld a tribunal ruling in favor of GMR Kamalanga Energy on coal allocation among project beneficiaries.
JSW Energy: Commissioned 317 MW of renewable capacity, raising its total installed base to 13.097 GW.
Travel Food Services: Won a Letter of Award to run F&B outlets, lounges, and a bar at Cochin Airport’s domestic terminal.
Indian Overseas Bank: Cut MCLR by 5 bps across overnight to three-year tenors, effective September 15.
RailTel Corporation: Received orders worth ₹32.5 crore from the Panvel civic body and ₹70.9 crore from the Nashik Smart City project.
JTL Industries: CFO Atul Garg resigned, and Naveen Kumar Laroiya was appointed as his replacement.
NLC India: Signed an MoU with Khanij Bidesh India to jointly develop critical and strategic mineral projects globally.
Hemant Surgical Industries: Received an order worth ₹82.9 crore from the Health Ministry for ultraportable handheld X-ray machines.
Arihant Foundations & Housing: Board meeting scheduled for September 16 to consider raising funds through debentures.
Prostarm Info Systems: Received a ₹158.7 crore LOI from Maharashtra Police for CCTNS IT infrastructure supply and maintenance.
Stanley Lifestyles: Cut prices across Sofas & More stores ahead of the festive season.
Ongoing IPOs
Urban Company, Dev Accelerator, Shrinagar House of Mangalsutra
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