Must-Watch Stocks: Infosys, Car Trade, SBI, Vadilal, NBCC, TVS Holdings | Exciting Market News

Market Outlook and Stocks to Watch: September 25, 2024

Indian equity markets are expected to open on a subdued note today, with GIFT Nifty futures trading slightly below the previous close at 25,928. Nonetheless, an overnight rally on Wall Street could provide a positive impact.

Asia-Pacific Market Snapshot

• Hong Kong’s Hang Seng Index: Futures suggest a potential 4% increase, opening at 19,763 from a last close of 19,000.
• Japan: The Nikkei 225 saw a slight dip, while the Topix gained 0.3%.
• South Korea: The Kospi rose 0.4%, and the Kosdaq increased by 0.43%.

Wall Street Gains

• S&P 500: Climbed 0.25% to a new record of 5,732.93.
• Dow Jones: Gained 0.2%, closing at a record 42,208.22.
• Nasdaq Composite: Increased 0.56%, led by Nvidia shares.

Key Stocks to Watch

1. Infosys: The finance ministry may amend Circular 210, potentially reducing a Rs 30,000 crore GST demand on the company.

2. Adani Green Energy, Adani Energy Solutions: Joined Utilities for Net Zero Alliance, aiming for net zero emissions by 2050.

3. Cartrade Tech: Warburg Pincus’ Highdell Investment sold an 8.64% stake for over Rs 375 crore, with Mirae Asset Mutual Fund acquiring a 6.4% stake.

4. SBI: Chairman C S Setty reported a strong Rs 4 trillion credit pipeline, particularly in infrastructure with no immediate divestment plans for subsidiaries.

5. Vadilal Enterprises: NCLAT ruled the board structure remains unchanged amid a family dispute.

6. NBCC: Supreme Court to review a proposal to complete 17 Supertech Limited stalled projects, impacting around 27,000 homebuyers.

7. TVS Holdings: CCI approved stake acquisition in Home Credit, potentially bolstering its financial services portfolio.

8. National Mineral Development Corporation: Reported a 7% year-on-year increase in iron ore production, hitting 275 million tonnes for FY24.

9. Punjab National Bank: At least 13 candidates, including major PSBs’ EDs and MDs, are in the fray for the new MD and CEO role, with interviews scheduled next month.

10. Tata Power: Confirmed insurance coverage for its Trombay plant after a fire incident; investigation is ongoing.

11. BGR Energy Systems: Sebi imposed a Rs 9 lakh penalty for disclosure lapses.

These stocks highlight potential market movers and should be closely monitored.

Original Story https://www.business-standard.com/markets/news/stocks-to-watch-infosys-car-trade-sbi-vadilal-nbcc-tvs-holdings-124092500070_1.html
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