HDFC Bank, Tata Motors, Biocon, Nykaa, RR Kabel, Biocon, NBCC among top stocks to watch today

Stocks to Watch: Tuesday (September 18) was a holiday for the stock market due to Ganesh Chaturthi. In business circles, the prominent news came in the form of the reappointment of Sashidhar Jagdishan as managing director and chief operating officer of HDFC Bank.

Wednesday will be important for wires and cables manufacturer RR Kabel, which will become the first company to debut on Dalal Street within two days of the issue closing.

At 08:30 AM, GIFT Nifty was trading 21.5 points, or 0.11 per cent, lower at 20,078.5 levels, indicating a muted start for the domestic indices on Wednesday.

ZeeBiz takes you through the list of stocks that can shoot into the limelight in early trading hours on Wednesday (September 20).

HDFC Bank

HDFC Bank on Tuesday (September 19) reappointed Sashidhar Jagdishan as managing director and chief executive officer of the company for a period of three years with effect from October 27, 2023, to October 26, 2026.

"The bank has approved the re-appointment of Mr. Sashidhar Jagdishan (DIN: 08614396) as the Managing Director and Chief Executive Officer of the Bank for a period of three (three) years w.e.f. October 27, 2023, to October 26, 2026," HDFC Bank said in a BSE filing on Tuesday.

Also, after the merger, the country's top private lender has flagged an impact on its asset quality. The reduction in Net Interest Margin (NIM) is estimated at 20 to 25 basis points (bps). Brokerages believe it can further decline to 3.5 per cent.

HDFC Ltd's net worth declined to Rs 1.12 trillion on July 1 against Rs 1.34 trillion in March. Nomura has double downgraded the HDFC Bank stock to 'Neutral' and has cut the target to Rs 1,800 apiece from Rs 1,970 apiece. JP Morgan has maintained an 'Overweight' rating and has cut the target to Rs 1,900 apiece.

Meanwhile, Jefferies has also maintained 'buy' and has cut the target to Rs 2,030 apiece. 

Tata Motors

Automaker Tata Motors said on Monday it would increase the prices of its commercial vehicles by up to 3 per cent from October 1, 2023.

"The price increase is to offset the residual impact of past input costs and will be applicable across the entire range of commercial vehicles," Tata Motors said in a statement.

The company increased prices of commercial vehicles by up to 5 per cent from April 1 this year.

NHPC 

The public sector hydropower company on Tuesday approved the appointment of Raj Kumar Chaudhary as director (technical) w.e.f. September 18, 2023.

"Shri Raj Kumar Chaudhary is not related to any of the directors of the company and is not debarred from holding the office of director by virtue of any order of the Securities and Exchange Board of India or any other such authority.

Nykaa

Nykaa, in its investor presentation, projected that the demand for its beauty and personal products would grow more than three times by 2030.

It is also said that the company's annual consumption value is $80, which is five times the national average.

Among its other findings, the company said that Nykaa customers are spending $130 on fashion.

It has 145 beauty specialty stores in different formats, while this year, the number of brands on the platform has increased from 1500 to 2850.

B.L. Kashyap and Sons 

B.L. Kashyap and Sons Limited on Monday secured an order aggregating to Rs 167 crore approx. The company said that its total order book as of date stands at Rs 3,005 crore (excluding GST).

NBCC

The company has received a Rs 150 crore order from Khadi & Village Industries Commission.

Bharat Dynamics

The company has signed a contract with IAF for the supply of surface-to-air missile orders worth Rs 290.90 crore.

GMR Airport

Total air passenger traffic increased 27 per cent YoY to 97.85 lakh but was down 1 per cent MoM. Total aircraft movements increased 16 per cent YoY to 64,799. On a MoM basis, the figure was flat.

OMCs

Indian Oil Corp, HPCL, and BPCL are expected to remain in focus amid rising crude oil prices. Jefferies has downgraded BPCL to 'Underperform' from Hold. The target has been cut to Rs 310 from Rs 425 earlier.

Blue Star

The company's QIP will open on September 18. The floor price has been fixed at Rs 784.55 against the previous closing price of Rs 800. 

Biocon

The company's board has approved the appointment of Peter Bains as the group CEO, with effect from September 18, 2023. He will be reporting directly to the Biocon Group Chairperson, Ms. Kiran Mazumdar-Shaw.