As investors wait for the Federal Reserve to announce its interest rate decision sometime this week, the market recovered on September 19 with a 5% gain after losing 3% over the previous three trading sessions. The BSE Sensex increased by 300 points to 59,141, and the Nifty50 increased by 92 points to 17,622.
Here are the top 10 stocks that will be today’s focus are as follows:
Adani Enterprises: On Monday, the flagship firm of the Adani Group, Adani Enterprises, raised Rs 100 crore through the private offering of non-convertible debentures. Positive optimism was there today, and shares of Adani Enterprises increased by almost 3%. The aforementioned MLD will be listed on the BSE’s Wholesale Debt Market. The face value of each of the debentures is Rs. 10 lakh. 1,000 Rated, Listed, Secured, Redeemable, Principal Protected Market Linked Non-Convertible Debentures (MLD) were distributed by the corporation. The face value of each of the debentures is Rs. 10 lakh.
DishTV: Yes Bank Ltd. has increased the stakes in its more than a year-long legal battle with Subhash Chandra-owned Dish TV India Ltd. by asking the Bombay High Court to order the satellite TV operator to host a special shareholder meeting. A division bench of the high court accepted the appeal submitted by Yes Bank, the largest shareholder in Dish TV with a 24.78% stake, on Monday. On Tuesday, the court will consider the petition asking whether Dish TV ought to hold an emergency general meeting (EGM).
Nestle India: According to at least three persons with knowledge of the negotiations, Nestle India Ltd., the regional arm of the largest food corporation in the world, is in talks to acquire a sizeable share in the nutritional snack startup Yoga Bar. One of the three added, on condition of anonymity, “Nestle India has done its due diligence and further conversations are on.”
ONGC: The windfall profit tax on domestically produced crude oil, which has been in place for two and a half months, has ONGC’s attention because the oil ministry claims it violates the contract provisions for fiscal stability. According to the letter, the ministry believed that because incremental profits are transmitted in the form of a bigger profit share for the government, the contracts contain an internal system that takes high pricing into account.
Olectra Greentech: The Thane Municipal Transport Undertaking has issued a Letter of Award to the Olectra Greentech Limited and Evey Trans Private Limited (EVEY) consortia for the supply of 123 electric buses, according to a statement from Olectra on Monday. For a duration of 15 years, these buses will be provided under a Gross Cost Contract (GCC) / OPEX arrangement. According to a statement from Olectra, the deal is worth 185 crore.
Reliance Industries: Fair-trade regulator Reliance Industries The proposed merger of Jio Cinema OTT and Viacom18 Media was approved by the Competition Commission of India (CCI) on Monday. Reliance Industries Ltd. (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems in April. As part of the tripartite partnership, Bodhi Tree will invest 13,500 crore in Viacom18, and Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest 1,645 crore in the broadcaster, creating one of the largest TV and digital streaming firms in India.
Ircon International: According to sources, Mahanadi Coalfields has given Ircon International a work order for 256 crore for Ananta OCP of Jagannath Area in Talcher. For the development of rail infrastructure, the work order is for thorough engineering and project management consulting services.
Natco Pharma: On Monday, Natco Pharma announced that it had been granted permission by a judge to introduce the insecticide Chlorantraniliprole (CTPR) and its formulations. The Delhi High Court has given the business permission to introduce the insecticide using a non-infringing procedure, the Hyderabad-based company reported in a regulatory filing. A patent infringement lawsuit against Natco Pharma was brought in the Delhi High Court by the US-based FMC Corporation.
Future Supply Chains: On Monday, Future Supply Chains Ltd (FSCL) announced that it had abandoned efforts to sell firm assets due to the anticipated delay in acquiring other necessary clearances. According to FSCL’s regulatory filing, its board has decided to “rescind the plan to proceed with sale/disposal of the Business Undertaking” due to a “anticipated delay in collecting other necessary clearances.”
Ashok Leyland: At a time when commercial vehicle manufacturers are getting ready to invest in electric vehicles, natural gas, and flexible fuel platforms, Ashok Leyland Ltd anticipates that hydrogen-powered trucks and buses will emerge as a self-sufficient green solution with commercial viability starting in the next five years. According to N. Saravanan, chief technology officer of the Hinduja Group company, hydrogen-powered long-haul trucks could reduce total cost of ownership (TCO) compared to compressed natural gas (CNG) variations at the correct level of acceptance and affordability.