Tata Steel, Mazagon Dock Shipbuilders, LIC, Bajaj Finserv, L&T, ONGC, Shree Renuka and Ashok Leyland among top stocks to watch today

Stocks to watch: ONGC on Thursday said it would infuse about Rs 15,000 crore in OPaL as part of a financial restructuring exercise that will see gas utility GAIL being edged out of the petrochemical firm. Sugar cooperative NFCSF on Thursday junked rumours of a likely sugar shortage in the country due to El Nino, saying domestic availability of the sweetener is not expected to be 'adverse' in the 2023–24 season.

Stocks to watch: The shares of OGC ended the trading session down 0.74 per cent at Rs 181.55 each on Thursday. Photo: PTI/Representational

Stocks to watch: At around 8:06 am on Friday, September 8, the GIFT Nifty futures traded 26.6 points, or 0.13 per cent lower at 19,794.5, suggesting a flat-to-positive start for the market. The BSE equity benchmark Sensex climbed over 385 points to reclaim the 66,000 mark on Thursday, propelled by robust buying in index majors HDFC Bank, L&T, and SBI amid a weak trend in global equities. Rising for the fifth straight day, the BSE Sensex recovered all the early lost ground and finally closed with a gain of 385.04 points, or 0.58 per cent, at 66,265.56. During the day, it hit a low of 65,672.34 and a high of 66,296.90.

ZeeBiz takes you through the stocks that can be in the limelight on Friday morning.

ONGC

State-owned Oil and Natural Gas Corporation (ONGC) will infuse about Rs 15,000 crore in OPaL as part of a financial restructuring exercise that will see gas utility GAIL being edged out of the petrochemical firm.

ONGC currently holds a 49.36 per cent stake in ONGC Petro-Additions Ltd (OPaL), which operates a mega petrochemical plant at Dahej in Gujarat. GAIL (India) Ltd has 49.21 per cent interest, and Gujarat State Petrochemical Corp (GSPC) has the remaining 1.43 per cent.

Ashok Leyland

Hinduja Group flagship Ashok Leyland on Thursday said it was aiming to be among the top 10 global commercial vehicle manufacturers in the near future.

According to company chairman Dheeraj Hinduja, the heavy commercial vehicle maker is looking at exploring newer markets.

Sugar Stocks

Sugar cooperative NFCSF on Thursday junked rumours of a likely sugar shortage in the country due to El Nino, saying domestic availability of the sweetener is not expected to be "adverse" in the 2023–24 season.

The sugar season runs from October to September. The crushing operation of 2023–24 has yet to begin.

In a statement, the National Federation of Cooperative Sugar Factories Ltd. (NFCSF) said El Nino, which refers to the warming of the ocean surface, has impacted the drying flurry of monsoons in some parts of Maharashtra.

Sugar stocks such as Sree Renuka, EID Perry, Balrampur Chini, and Triveni Engg can garner attention in early morning deals on Friday.

Anupam Rasayan

Specialty chemicals manufacturer Anupam Rasayan India said on Thursday it has appointed Gopal Agrawal as the Chief Executive Officer (CEO) with effect from September 11.

Prior to this role, Agrawal, a chartered accountant, was Managing Director and Head of the Investment Banking business at Edelweiss.

Stocks to watch: At around 8:06 am on Friday, September 8, the GIFT Nifty futures traded 26.6 points, or 0.13 per cent lower at 19,794.5, suggesting a flat-to-positive opening of the market.

Tata Steel

Tata Steel Special Economic Zone ltd and Avaada have signed an agreement for the Green Hydrogen and Green Ammonia Projects in Odisha. A green hydrogen and green ammonia plant is to be set up at Gopalpur Industrial Park in Odisha.

Mazagon Dock Shipbuilders

The company signed a non-financial Master Ship Repair Agreement with the US Government.

Tejas Networks

The company received Rs 750 crore as an advance from TCS for the supply of Radio Access Network equipment.

LTIMindtree Ltd

The company has launched an innovative industry solution for retail media and smart service operations.

Exide Industries

Exide Industries Limited invested over Rs 100 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions Limited. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition.

Landmark Cars

The company has signed a letter of intent with Mahindra and Mahindra Limited for opening a dealership in Howrah, in the state of West Bengal. This dealership will be established in one of the wholly owned subsidiaries of Landmark Cars Limited, namely Landmark Mobility Private Limited.

Sterlite Technologies

The company partnered with TruVista for fibre connectivity to drive the growth and enhancement of South Carolina's rural connectivity infrastructure.

Shemaroo Entertainment

The Central Goods and Services Tax and Central Excise Department conducted a search operation on the premises of the company on September 5, 2023. The company reported that on September 6, three of its top executives, including Atul H. Maru (Joint MD), Hiren Gada (Whole-Time Director & CEO), and Amit Haria (CFO), were detained in connection with the investigation.

Bliss GVS Pharma

The Assistant Commission of State Tax, Maharashtra, Mumbai, conducted searches at certain premises of the company on September 6, 2023. The business operations of the company are running smoothly without any hindrance. There is no impact from the search on the operation or other work of the company.

Lemon Tree Hotels

The company deposited a fine of Rs 23,850 with the Commercial Tax Department of Karnataka.

Ind-Swift Laboratories

Jaideep Sampat sold 3.55 lakh shares at Rs 103.56 per share.

Medico Remedies

Aus Enterprises bought 7 lakh shares at Rs 75 per share.

Asian Energy Services

Rashi Fincorp sold 5 lakh shares at Rs 136.03 per share. On the other hand, APT Agrotech Industries bought 2.5 lakh shares at Rs 136 per share and APT Real Estates bought 2.45 lakh shares at Rs 136 per share.

Maan Aluminium

Dugar Growth Fund sold 13.25 lakh shares at Rs 86.19 per share.

LIC

No penalty will be charged by the market regulator Securities and Exchange Board of India (SEBI) on LIC after the company reduces its stake in its mutual funds arm. Under the rules, a company cannot hold 10 per cent or more stake in two mutual funds. After the purchase of IDBI Bank, LIC was the sponsor of both LIC MF and IDBI MF. Later the merger proposal of IDBI MF with LIC MF was passed.

Bajaj Finserv

The company's subsidiary, Bajaj Allianz General Insurance, reported a gross direct premium underwritten for August at Rs 1,677.87 crore and the premium in the current financial year up to August at Rs 9,228.81 crore. Bajaj Allianz Life Insurance's total premium for August stood at Rs 926.41 crore, and the premium in the current financial year up to August was Rs 3,828.06 crore.

L&T

The company will likely get a big order from Saudi Aramco worth $4 billion (Rs 33,252 crore). Citi has maintained 'buy' and has raised the target to Rs 3,175 apiece from Rs 2,889 apiece. CLSA has also maintained a 'buy' and has increased the target to Rs 3,240 apiece from Rs 3,080 apiece.