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Stocks To Watch: Stocks such as SBI, Infosys, IndusInd Bank and VIP Industries, among others, will be in focus today.
Stocks To Watch Today: Investors remain cautious as markets continue to react to global and domestic developments, alongside ongoing fund outflows. (Representative image)
Stocks To Watch: Equity benchmark indices Sensex and Nifty extended their losing streak to a third consecutive session on Wednesday, weighed down by selling pressure in utility, capital goods, and metal stocks amid continued foreign fund outflows. The BSE Sensex fell 502.25 points (0.62%) to close at 80,182.20, after plunging 634.38 points (0.78%) during intraday trade to 80,050.07.
On the NSE, the Nifty declined by 137.15 points (0.56%) to settle at 24,198.85. Market breadth on the BSE showed 2,563 stocks declining, 1,442 advancing, and 94 remaining unchanged.
Due to these developments and market updates, stocks such as SBI, Infosys, IndusInd Bank, NITCO and VIP Industries, among others, will be in focus today.
Stocks To Watch Today
Gandhar Oil Refinery: Received an Establishment Inspection Report (EIR) from the US FDA for its Taloja manufacturing facility. The inspection, classified as “Voluntary Action Indicated” (VAI), has now been closed by the FDA.
IndusInd Bank: Reliance Nippon Life Insurance, a Reliance Capital (RCAP) subsidiary, is in talks with IndusInd Bank for a bancassurance partnership. Mauritius-based IndusInd International Holdings (IIHL), the parent of IndusInd Bank, recently won the bid to acquire RCAP and its subsidiaries as the acquisition process nears completion.
Infosys: Opened a new advanced development center in Kolkata, investing Rs 426 crore. The facility will focus on next-gen technologies like cloud computing and artificial intelligence, creating significant job opportunities in the region.
NITCO: Secured fresh orders worth Rs 105 crore from the Prestige Group to supply tiles and marble for various real estate projects across India. This follows another Rs 105.40 crore order earlier this week from Prestige Estates Projects.
Punjab & Sind Bank: Raised Rs 3,000 crore through its maiden issuance of infrastructure bonds aimed at boosting infrastructure lending. The issue received total bids of Rs 6,031 crore against a base size of Rs 500 crore, the bank said in a regulatory filing.
State Bank of India: SBI has appointed Rama Mohan Rao Amara as its new Managing Director for a three-year term.
VIP Industries: Received a favorable ruling from the Maharashtra Sales Tax Tribunal regarding branch transfer claims and associated tax levies for FY10 to part of FY18. The tribunal overturned the tax authorities’ earlier assessments, upholding VIP Industries’ claims.
Investors remain cautious as markets continue to react to global and domestic developments, alongside ongoing fund outflows.
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