HDFC Bank, PSU banks, Defence stocks, Navin Fluorine and New India Assurance Company among top stocks to track today

Stocks to watch: At around 8:06 a.m. on Thursday, October 5, the GIFT Nifty futures traded 19.13 points, or 0.10 per cent, lower at 19,497.5, suggesting a flat-to-positive opening of the market.

Equity benchmark indices ended lower on Wednesday, extending their previous day's fall, due to unabated foreign fund outflows and weak trends in the US and Asian markets.

The 30-share BSE Sensex went lower by 286.06 points, or 0.44 per cent, to settle at 65,226.04. The Nifty declined 92.65 points, or 0.47 per cent, to end at 19,436.10.

Among the Sensex firms, Axis Bank fell over 4 per cent, emerging as the biggest laggard. The State Bank of India, IndusInd Bank, NTPC, UltraTech Cement, Bajaj Finserv, Tata Steel, JSW Steel, Maruti, and Larsen & Toubro were the other major laggards.

ZeeBiz takes you through the list of stocks that can see some action on Thursday.

RIL: Reliance Brands Limited, through its wholly-owned subsidiary in the UK (RBUK), on Wednesday signed a definitive agreement to enter a joint venture with UK-based Superdry PLC.

The joint venture entity will acquire Superdry's intellectual property assets for the India, Sri Lanka, and Bangladesh territories, the company said in a statement on Wednesday.

RBUK and Superdry will own 76 per cent and 24 per cent of the joint venture entity, respectively. The consideration for the IP is £40.0 million, which is estimated to result in Superdry PLC receiving gross cash proceeds of £30.4 million (approx. £28.3 million net of fees and taxes) from RBUK.

Exide Industries: Exide on Wednesday said it was investing Rs. 340 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions Limited, on a rights basis. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition, Exide said in a statement.

Nazara Tech: The Singapore subsidiary of NODWIN Gaming, one of South Asia’s leading gaming and esports media companies, a material subsidiary of Nazara Technologies Ltd, on Wednesday acquired a 100 per cent stake in game marketing agency PublishME for a sum of USD 2 million from its existing shareholders, Nazara Technologies Limited and Ozgur Ozalp.

HAL: Hindustan Aeronautical Limited handed over the first LCA Tejas twin-seater to the Indian Air Force on Wednesday.

Royal Orchid Hotels: On Wednesday, Royal Orchid Hotels Limited, along with its subsidiary, Royal Orchid Goa Private Limited, executed the share purchase agreement with P. Dayananda Pai, P. Satish Pai, and ICON (collectively referred to as 'Parties') for the purchase of 9,29,872 equity shares of ICON (representing 48.93 per cent of the equity share capital of ICON) from the existing shareholders of ICON. On the completion of the demat transfer for the aforesaid shares, the company's shareholding in ICON would increase from 51 .07 per cent to 100 per cent. 

Deepak Nitrite: The company on Wednesday approved the incorporation of a new wholly-owned subsidiary of the company and investment of up to Rs 5 crore in the equity capital of the proposed WOS, from time to time, in one or more tranches.

Bajaj Finance: The board will consider raising funds through the preferential issue, Qualified Institutional Placement (QIP), or other means. 

Punjab National Bank: Private sector lender in its Q2 business update said that the company's global gross advances increased by 13.8 per cent to Rs 9.45 lakh crore year-on-year (YoY). The total deposits were up 9.7 per cent to Rs 13.09 lakh crore (YoY). Current Account and Savings Account (CASA) deposits are up 2.6 per cent to Rs 5.38 lakh crore (YoY). 

Bandhan Bank: Bandhan Bank in its September quarter update said that its loans & advances were up 12.3 per cent to Rs 1.07 lakh crore YoY. The total deposits were up 12.8 per cent to Rs 1.12 lakh crore YoY and the CASA ratio increased from 36 per cent to 38.5 per cent quarter-on-quarter (QoQ).

L&T Finance Holdings: The non-bank financial company's (NBFC) retail disbursements were up 32 per cent to Rs 13,490 crore YoY and the retail loan book grew 33 per cent to Rs 69,400 crore YoY.

Marico: The company said in its Q2 business update that its volume grew in low single digits domestically on an annual basis and it expects to see strength in gross margin YoY. A healthy operating profit margin is expected. The operating profit may see low double-digit growth.

Indian Energy Exchange Ltd: The power trading exchange in a business update informed investors that its volume for the quarter ending September increased 13 per cent to 9147 MU YoY. The Real Time Market volume was up 33 per cent to 2923 MU YoY.

Defence stocks: The Department of Military Affairs released the fifth positive indigenisation list. The list contains 98 items-- futuristic infantry, combat vehicles, shipborne drones, and medium-range precision kill systems. 

Jammu & Kashmir Bank: The bank's gross advances were up 15.9 per cent to Rs 91,680 crore  YoY, according to the Q2 business update. The total deposits were up 9.4 per cent to Rs 1.26 lakh crore YoY.

RBL Bank: In its Q2 business update the private sector lender said that its gross advances were up 21 per cent to Rs 78186 crore YoY. The total deposits grew by 13 per cent to Rs 89774 crore YoY.

Suryoday Small Finance Bank: In its Q2 business update, the bank said its disbursements were up 43 per cent to Rs 1118 crore YoY and gross advances were up 29 per cent to Rs 5,378 crore YoY. The CASA ratio increased from 15 per cent to 16 per cent QoQ.

HDFC Bank: CLSA has added HDFC Bank to India's focus portfolio saying that there is a cool-off in valuations which makes the stock attractive. 

Morgan Stanley had maintained an 'Overweight' rating with a target price of Rs 2,110 apiece.  Jefferies has maintained 'buy' for a target price of Rs 2,030 apiece.

Navin Fluorine: The company's promoter Vishad is going to take over the business till the new Managing Director (MD) joins. The company is looking for an External Candidate for MD's post.

Jefferies has double downgraded the stock to 'hold' with a target cut to Rs 3,625 apiece.

New India Assurance Company: The company received a demand notice of Rs 2,379 crore from Pune's Directorate General of Goods and Services Tax Intelligence for non-payment of GST on co-insurance. The company will file a reply to demand notice on the advice of a tax consultant.

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