Raymond, Oil India, M&M, Bharti Airtel, SpiceJet, and Indian Energy Exchange among top stocks to track today

Stocks to watch: Benchmark equity indices Sensex and Nifty rallied for the second straight session on Monday, following encouraging domestic macroeconomic data amid a firm trend in global markets. The BSE benchmark Sensex climbed 240.98 points, or 0.37 per cent, to settle at 65,628.14. The NSE's Nifty 50 rose 93.50 points, or 0.48 per cent, to end at 19,528.80.

At around 8:02 am on Tuesday, September 5, the GIFT Nifty futures traded 19.35 points, or 0.10 per cent lower at 19,959, suggesting a flat to negative opening of the market.

Amid the better performance of the bourses, ZeeBiz takes you through a list of stocks that can be the main attraction when the market opens on Tuesday, September 5, 2023.

Oil India

The board of Oil India on Monday approved an equity contribution of up to Rs 1,738 crore in line with OIL's shareholding percentage (9%) in a joint venture company with Assam Gas Company Limited.

The company's shares ended the day's trading higher by 1.89 per cent at Rs 277.60.

M&M Finance 

The company on Monday announced its August business numbers, reporting a 15 per cent year-on-year growth of Rs 4,400 crore in its overall disbursements.

"The YTD August 2023 disbursements at Rs 20,950 crore registered a growth of 22 per cent YoY. Healthy disbursement trends in the current period have led to Business Assets at Rs 90,500 crore, growth of 9.4 per cent over March 2023 and 27 per cent over August 2022," the company said in a BSE filing.

The company's shares closed the trading session on Monday, down 0.92 per cent at Rs 296.15.

HP Adhesives

In a meeting on Monday, the board of HP Adhesives decided to split its stock. "Alteration in Capital of the Company by Split/Sub-division of 1 (One) Equity Share of the Company having a face value of Rs. 10/- each into 5 (Five) Equity Shares of the Company having a face value of Rs. 2/- each," the company informed BSE on Monday.

The company's shares were trading 1.11 per cent at Rs 535.10 at market close on Monday.

Bharti Airtel

Telecom operator Bharti Airtel said on Monday that it would purchase 23,000 MWh of renewable energy by the March quarter of this fiscal year for its data centre firm Nxtra.

"Bharti Airtel (Airtel) will purchase 23,000 MWh of renewable energy by Q4 FY 23–24 for its data centre company, Nxtra," a company statement said.

The company's share ended flat at Rs 865.05 on BSE on Monday.

Mahindra & Mahindra Ltd. 

Swaraj Tractors, a product of Mahindra & Mahindra, said on Monday it would invest Rs 200 crore to roll out a new range of tractors in the 40–50 HP category to cater to the evolving needs of farmers.

The company said the new products would eventually replace its current tractors in this category. The company's share ended 0.97 per cent down at Rs 1,576.05 on BSE.

DLF 

Realty major DLF expects revenue of around Rs 400 crore from sales of 92 luxury independent floors, which it will develop on corner plots in Gurugram, its Executive Director Aakash Ohri said.

The company has many corner plots in Gurugram and is launching 92 independent floors.

These floors will be sold in a price range of Rs 4–5.5 crore each, with a size between 2,400 square feet and 3,100 square feet.

The company's share on BSE performed well on Monday, as it was up 1.97 per cent at Rs 513.50.

Muthoot Finance 

Muthoot FinCorp on Monday announced raising up to Rs 400 crore through the issuance of non-convertible debentures (NCDs).

The issue is part of the Rs 1,100 crore debt-raising plan approved by the board, a company statement said.

The base size of the issue is Rs 100 crore with a green shoe option of Rs 300 crore, it said, adding that the issue will close on September 14.

Muthoot Finance's shares on BSE ended the trading session up 1.49 per cent at Rs 1,280 each.

SpiceJet 

Low-cost carrier SpiceJet on Monday said it allotted over 4.8 crore shares to nine aircraft lessors to clear outstanding dues worth nearly Rs 231 crore as the troubled airline looks to return to full operations. The carrier's shareholders had on Thursday passed a number of resolutions, including a Rs 2,500 crore fundraising and a preferential issue of shares to lessors to clear outstanding dues.

Indian Energy Exchange

The Indian Energy Exchange's total trade volume rose by over 13 per cent year-on-year (YoY) to 8,865 million units in August. The total trade volume of IEX stood at 7,805 million units (MU) as per its data.

UTI AMC, HDFC AMC, NIPPON INDIA

Zerodha has applied for approval of two mutual fund schemes. Zerodha Nifty Large Midcap 250 Index Fund (ELSS) and Zerodha Nifty Large Midcap 250 Index Fund. Zerodha has recently obtained a mutual fund license.

Tata Steel 

Commenting on Zee Business' report on fund raising for the UK plant, Tata Steel said that negotiations are ongoing with the UK government.

Nazara Technologies 

The company's board will discuss fundraising through equity shares in the meeting on September 7.

Raymond

Jefferies has initiated a 'buy' rating on the stock for a target of Rs 2,600 apiece. Motilal Oswal has also initiated a 'buy' for a target price of Rs 2,600 apiece.

Delta Corp 

Societe Generale bought 23.42 lakh (0.88 per cent) shares at 182 per share. Societe Generale has raised its stake to 2.30 per cent from 1.43 per cent. Zerodha Broking Ltd sold 25.49 lakh (0.95 per cent) shares at 182.12 per share. 

Hero MotoCorp 

The company's board approved the investment of up to Rs 550 crore in Ather Energy.

Escorts Kubota

The company will increase tractor prices starting September 16.

Cipla 

Cipla's wholly-owned subsidiary in South Africa signed a binding term sheet with Actor Pharma to buy the entire stake.

RVNL 

The company's Joint Venture RVNL-MPCC was announced as the L1 bidder for all civil engineering works tenders from the Vadodara division of Western Railway. The total cost of the project is Rs 174 crore. JV will complete the order in two years.

NRB Bearings Ltd 

Foreign Portfolio Investors, ACACIA PARTNERS L.P. sold 16.35 lakh (1.69 per cent) shares at 269 per share.

(With inputs from PTI)

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