GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down 27.50 points or 0.14% at 19,792.50, indicating a week opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 jumped 89.75 points or 0.44% to settle at 19,765.20, while the BSE Sensex jumped 306.55 points or 0.47% to 65,982.48.
Stocks to Watch on November 17, 2023
JSW Steel:
Company announced the withdrawal of its application to surrender an iron ore mine in Odisha’s Keonjhar, citing the prevailing demand and supply scenario.
Axis Bank and Manappuram Finance:
The Reserve Bank of India (RBI) imposed monetary penalties on Axis Bank and Manappuram Finance. Axis Bank faced a penalty of Rs 90.92 lakh, while Manappuram Finance incurred a penalty of Rs 42.78 lakh. These penalties were imposed for violations of specific directions from the banking sector regulator.
InterGlobe Aviation:
The parent company of IndiGo, continued its dominance in the Indian aviation sector, commanding a substantial 62.6% market share in October. This data, based on domestic air traffic statistics, reinforces IndiGo’s leading position in the Indian skies.
JSW Infrastructure:
The Company received a Letter of Award from the Karnataka Maritime Board for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka on a Public-Private Partnership (PPP) basis. The estimated project cost is Rs 4,119 crore, with an initial capacity of 30 million metric tonnes per annum (MTPA).
Delhivery:
Softbank-backed SVF Doorbell (Cayman), a major stakeholder in Delhivery, has initiated a stake sale through block deals at a price range of Rs 403.5-413.85 per share. As of September end, SVF Doorbell holds a 14.46% stake in Delhivery.
IRB Infrastructure:
Moody’s affirmed IRB Infrastructure’s Ba1 Corporate Family Rating and India Toll Roads’ Ba2 senior secured rating. The ratings maintain a stable outlook, with Moody’s highlighting the strength of IRB Infrastructure’s assets, supported by long-term concession agreements and protective measures against unforeseen adverse events.
Siemens:
Company provided a more cautious sales outlook for 2024, anticipating a slowdown in growth. The company attributed this projection to the ongoing destocking activities by Chinese customers. Despite reporting record industrial profit in the fourth quarter, Siemens remains watchful of market dynamics in the coming year.
DCX Systems:
Board approved a fundraising initiative of up to Rs 500 crore, to be conducted in one or more tranches. The funds will be raised through avenues such as public issue, preferential issue, rights issue, private placement, qualified institutions placement(s), and/or any combination of these methods.
