By News18,Varun Yadav
Copyright news18
Stocks To Watch Today: Gift Nifty is indicating a flat opening today, September 24. Around 8:00 am, Gift Nifty was trading at 25,185, with a fall of 12 per cent. The Indian equity markets saw a volatile session with ups and downs yesterday. After opening steady, selling pressure took over, but buyers pushed back in the second half, helping the market recover. The benchmark index ended at around 25,170, down 0.13% for the day.
US benchmark indices retreated overnight from record highs as profit booking set in, further weighed down by Federal Reserve Chair Jerome Powell’s remarks that valuations of risk assets remain stretched. His cautionary tone triggered risk aversion, prompting investors to seek safe-haven assets.
Following Powell’s remark, Asian stocks also witnessed a fall. Nikkei 225 dropped 193 points or 0.42 per cent in the morning session, while South Korea’s Kospi dropped by 1.15 per cent. Australia’s S&P/ASX 200 fell 0.97 per cent by noon.
Hariprasad K, SEBI – registered Research Analyst and Founder – Livelong Wealth says With GIFT Nifty pointing to a flat start, the market tone remains delicately balanced—slightly bullish above 25,100, but vulnerable if 25,080 is breached.
Some stocks will remain in a high-focus on Wednesday due to major actions, deals or corporate activity.
Stocks in focus today:
Akzo Nobel Share Price
Imperial Chemical Industries, the promoter of Akzo Nobel, is expected to offload up to a 5% stake in the company through block deals, with the offer valued at Rs 742.7 crore and a floor price set at Rs 3,261.8 per share, CNBC-TV18 reported citing sources.
Bajaj Electricals
The Board has cleared the acquisition of the ‘Morphy Richards’ brand along with related intellectual property rights from Glen Electric, part of Ireland’s Glen Dimplex Group, for Rs 146 crore in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka.
Torrent Power
The company has purchased 11.95 lakh equity shares, representing a 49% stake in Newzone India (NZIPL), along with 30 lakh equity shares, or a 100% stake, in Newzone Power Projects (NZPPPL)—the holding company of NZIPL—for Rs 211 crore from the Sarawagi Family and related HUFs. NZPPPL already owns a 51% stake in NZIPL.
Swiggy announced that it will sell its entire 11.8 per cent stake in Rapido to Setu AIF Trust and its affiliate, along with MIH Investments One B.V., a Netherland based company. It will sell 10 equity shares and 1,63,990 Series D Compulsorily Convertible Preference Shares (CCPS) in Rapido to MIH Investments One B.V for ₹1,968 crore.
Additionally, it will be selling 35,958 Series D CCPS of Rapido to Setu AIF Trust (Westbridge) for ₹430 crore.
Infosys is deepening its long-term partnership with Sunrise, Switzerland’s second-largest telecom company, aiming to modernise its technology infrastructure and boost operational agility.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
