SBI, Zydus, Five Star Finance, airline stocks, Hero MotoCorp, OMCs, and Gujarat Gas among top stocks to watch today

Stocks to watch: GDP numbers announced on Thursday (August 31) are expected to boost sentiment in the domestic share market on Friday (September 1). According to the GDP data, eight key infrastructure sectors rose to 8 per cent in July 2023, compared to 4.8 per cent in the same month last year. The growth came on the back of an expansion in the production of coal, crude oil, and natural gas.

The data was released after market hours. The equities market settled lower on Thursday. At close, the S&P BSE Sensex was down 255.84 points, or 0.39 per cent, at 64,831.41, while the NSE Nifty was down 93.65 points, or 0.48 per cent, at 19253.8.

At around 8:07 am on Friday, September 1, the GIFT Nifty futures traded 41.8 points, or 0.22 per cent lower at 19,386.5, suggesting a flat to negative market opening.

ZeeBiz takes you through the list of shares that can grab attention on Friday.

Bank stocks

Banking stocks such as the State Bank of India, Punjab National Bank, and Bank of Baroda are expected to be in the limelight after Fitch Ratings on Thursday affirmed their BBB ratings with a stable outlook.

The other banks that the agency rated BBB- with a stable outlook are Canara Bank, Bank of India, and Union Bank of India.

Hero MotoCorp

Hero Electric said on Thursday that it would diversify into the premium segment under the A2B brand as it aims to create differentiated brands to cater to multiple segments in the electric mobility space.

Under the A2B brand, the company will introduce a diverse portfolio of premium products, including electric bikes, scooters, and other new variants.

Hero MotoCorp's share ended trading down 1.32 per cent at Rs 2,913.20 on Thursday.

Zydus

Zydus Lifesciences said on Thursday that it had received approval from the US health regulator to market a generic product to treat acne in the American market.

The drug firm has received final approval from the US Food and Drug Administration (USFDA) for isotretinoin capsules USP (10 mg, 20 mg, 30 mg, and 40 mg), it said in a statement.

The company's share ended flat on BSE at Rs 627.35.

Jio Financial Services

Jio Financial Services (JFSL) is set to be removed from all BSE indices on Friday, September 1, 2023.

The BSE said on Thursday that the stock did not hit the lower circuit on Tuesday and Wednesday, and even on Thursday (till 2 pm), the stock didn't hit the lower circuit.

So, the stock will be out of all the BSE indices.

However, the stock will not be removed from the NSE indices on Friday.

The stock ended the trading session on Thursday higher by 0.41 per cent at Rs 233.65.

Adani Group stocks

Adani Group stocks were struggling on the bourses after the Organised Crime and Corruption Reporting Project (OCCRP) published a report on Thursday alleging that the business group's hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds, managed by partners of the promoter family.

All Adani Group stocks suffered losses on Thursday, with the flagship company Adani Enterprises’ shares falling as much as 3.77 per cent to Rs 2,418 apiece in intraday trade. 

Five-Star Business Finance 

Private equity investors could sell up to 8.8 per cent their stakes through block deals. The floor price for the block deal is Rs 724 per share. Matrix Partners, TPG Asia, and Norwest Ventures may sell a stake in Five-Star Finance. 

OMCs and IOCL/ BPCL/ HPCL  

Import duty, agri, and infra cess on liquefied petroleum gas (LPG) are reduced to zero from 15 per cent. Earlier, only government companies had an exemption on import duty.

Quick Service Restaurants stocks

19 kg commercial LPG cylinder becomes cheaper by 157.5 per cent. The new price will be applicable from today. 

Interglobe Aviation/Spicejet/HPCL/BPCL/IOC  

Oil marketing companies have drastically increased the price of Air Turbine Fuel (ATF) used by aircraft.  ATF price is increased up to Rs 13911 per KL. Increased rates will be applicable starting today.

Gujarat Gas/ GAIL

Saudi Aramco fixed the September propane contract price at $550/tn. New prices will be applicable in India from October 2023.

Gujarat Gas

As per reports, the company increased the price of industrial gas for the second time in a month. Prices for Morbi customers increased from Rs 2.5/scm to Rs 43.3/scm. New rates will be applicable from September 1.

MOIL 

The company increased the prices of manganese ore, fines, and chemical grades by 3.5 per cent. New prices will be applicable starting today. 

ITD Cementation India 

The company bagged a marine contract worth Rs 3,290 crore.

Genus Power Infrastructure 

The company's subsidiary bagged an order worth Rs 2,247 crore for providing advanced metering infrastructure services, supply, installation, and commissioning of 24.18 lakh smart meters. The total order book of the company so far is Rs 11,000 crore.

Textile stocks

The application date was extended for textile PLI until October 31.

Som Disteilleries & Breweriers 

The board meeting will be held on September 5 to discuss raising funds through qualified institutional placement, or QIP, by issuing equity shares.

Sula Vineyards 

Verlinvest Asia PTE. sold 1.06 crore shares (12.6 per cent) at Rs 484.13 per share. On the flip side, HDFC Mutual Funds bought 35.20 lakh shares at Rs 484 per share, and Morgan Stanley Asia Singapore PTE bought 13.10 lakh shares at Rs 484 per share. Societe Generale bought 6.51 lakh shares at Rs 484 per share, and Ghisallo Master Fund LP bought 4.77 lakh shares at Rs 484 per share.

Medplus Health 

Lavender Rose Investment sold 70 lakh shares (5.9 per cent) at Rs 861.68 per share, and PI Opportunities Fund – I sold 70 lakh shares (5.9 per cent) at Rs 861.93 per share. Conversely, Nippon India Mutual Fund bought 39.79 lakh shares at 862 per share, the Government of Singapore bought 14.43 lakh shares at Rs 862 per share, Fidelity Funds - India Focus Fund bought 14.05 lakh shares at Rs 856.79 per share and Steadview Capital Mauritius bought 9.60 lakh shares at Rs 862 per share. 

Prudent Corporate 

TA FDI Investors sold 37.37 lakh shares (9 per cent) at Rs 1,125 per share. Inversely, DSP Mutual Fund bought 20.04 lakh shares at Rs 1,125 per share, India Acorn ICAV bought 3.98 lakh shares at Rs 1,125 per share, and Abu Dhabi Investment Authority bought 3.36 lakh shares at Rs 1,125 per share.

Dixon Tech and Amber Enterprises

Global brokerage Jefferies has maintained 'hold' and raised the target price to Rs 5,050 apiece from Rs 4,300 apiece.

Jefferies has maintained a 'buy' and has raised the target to Rs 3,740 apiece from Rs 3,390 apiece.

Emami 

Citi has double-upgraded the stock to 'buy' and raised the target to Rs 600 apiece from Rs 455 apiece. A few days ago, Nuvama also raised the target from Rs 550 apiece to Rs 660 apiece.

(With inputs from PTI)

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