The SGX Nifty indicates a positive start for the Indian benchmark indices Sensex and Nifty today. Cues from US markets also remain positive as investors expect easing of the banking crisis post UBS’ acquisition of Credit Suisse. The Nifty today will likely see resistance at 17,150, and on the downside, the Nifty support stands at 16,830, according to analysts.
Top stocks to watch today include shares of HDFC AMC, PVR, Indian Oil, NTPC, CEAT, Uno Minda, PNC Infratech besides others.
HDFC AMC: HDFC AMC in focus today after Rajiv Jain-led GQG Partners offloaded 1.16% of their stake or 24.7 lakh shares at Rs 1,600 via a block deal on Monday. GQG Partners now hold 1.2% stake in the company. SBI Mutual Fund bought 47.3 lakh shares of HDFC AMC on Monday at Rs 1,600 per share.
PVR: Shares of PVR will be in focus today after Warbug Pincus offloaded its entire 2.49% stake in the company via a block deal on Monday. Wabug Pincus sold 24.4 lakh shares at Rs 1,559.34. Buyers in the block deal included SBI Mutual Fund, ICICI Prudential Mutual Fund and Societe General.
Indian Oil/NTPC: Indian Oil and NTPC Green (Subsidiary of NTPC) will be in focus today as the companies have entered into an agreement to set up a Joint Venture for setting up of Renewable Energy (RE) Power plants to meet requirements of new projects of IndianOil Refineries. Both companies will hold equal stake in the formed Joint Venture, according to the filing by companies.
CEAT: CEAT stock will be in focus today after the company on Monday announced the appointment of Arnab Banerjee as the new MD & CEO of the company post resignation of Anant Goenka as the MD & CEO of CEAT. Anant Goenka will now be the Non-Executive Non-Independent Director, designated as ViceChairman of the company.
Adani Enterprises: Adani Enterprises will be in focus today after the company issued a statement on media reports pertaining to the Green PVC project. “We are hopeful to obtain financial closure for the project in next six months post which full-fledged procurement and construction activities at site will commence. We are committed to completing the project in an expeditious manner so as to meet the original timelines,” said the company.