IT stocks, Aurobindo Pharma, MCX, SBI, Sun Pharma and Emami among top stocks to watch today

Stocks to watch: The State Bank of India announced on Thursday that it had trimmed its stake in MSP Steel & Power Limited through an open market deal, reducing its share from 7.30 per cent to 2.47 per cent; FMCG maker Emami, meanwhile, announced the acquisition of a 26 per cent stake in Axiom Ayurveda.

Shares of State Bank of India can make an impression in early morning deals on Friday as the company trimmed its stake in MSP Steel & Power Limited on Thursday. Photo: PTI/Representational

Stocks to watch: At around 8:03 a.m. on Friday, September 29, the GIFT Nifty futures traded 19 points, or 0.10 per cent, lower at 19,636, suggesting a flat-to-negative start to trading on Dalal Street.

Investors' wealth eroded by Rs 2.95 lakh crore on Thursday (September 28) as markets fell by nearly 1 per cent amid feeble global cues and unabated foreign capital outflows.

The 30-share BSE Sensex fell 610.37 points, or 0.92 per cent, to settle at 65,508.32. During the day, it plunged 695.3 points or 1.05 per cent to 65,423.39.

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The market capitalisation of BSE-listed firms fell by Rs 2,95,144.09 crore to Rs 3,16,65,937.80 crore.

That said, let's take a look at the list of stocks that are expected to trade actively on Friday (September 29).

IT stocks: Accenture recorded a decline in net profit year-on-year (YoY) by 18 per cent to $1.37 billion. New bookings also declined by 9.8 per cent to $16.6 billion and some deals will happen in the next quarter instead of this quarter, as per the company. The management has given weak guidelines, stating earnings growth guidance of 2–5 per cent for FY24, which was estimated at 4.6 per cent.

Sun Pharma: Sun Pharma announced on Thursday that one of its subsidiary companies had signed a binding letter of intent to acquire the balance 25 per cent outstanding shares of Sun Pharma de México, S.A. de C.V., a subsidiary of the company, where the company is currently holding 75 per cent shares.

Post-acquisition of the balance 25 per cent outstanding shares will result in Sun Pharma de México, S.A. de C.V. becoming a wholly owned subsidiary of the company, Sun Pharma said in its BSE filing.

SBI: State Bank of India announced on Thursday that it had trimmed its stake in MSP Steel & Power Limited through an open market deal, reducing its stake from 7.30 per cent to 2.47 per cent.

Emami: Homegrown FMCG maker Emami on Thursday announced the acquisition of a 26 per cent stake in Axiom Ayurveda, which markets beverage products under the brand 'AloFrut', for an undisclosed amount, paving its entry into the juices segment.

Through this strategic investment, the Kolkata-based leading personal care and healthcare maker has entered the packed juice category by acquiring a 26 per cent stake in Axiom Ayurveda and its subsidiaries, according to a joint statement.

Yatra Online: Shares of Yatra Online on Thursday ended with a discount of more than 4 per cent against the issue price of Rs 142. The stock made its debut at Rs 130, registering a decline of 8.45 per cent from the issue price on the BSE. During the day, it fell by 10.28 per cent to Rs 127.40. Shares of the company finally ended at Rs 135.95 apiece, lower by 4.26 per cent.

On the NSE, shares of the company began the trade at Rs 127.50, recording a fall of 10.21 per cent. It later ended at Rs 136 per piece, a decline of 4.22 per cent. The company's market valuation was Rs 2,133.28 crore. Societe Generale sold 13.3 lakh shares at Rs 136.12 per share.

Kajaria Ceramics: The company on Thursday announced that the modernisation of the manufacturing facility of the company at Gailpur, Rajasthan, for ceramic tiles, had been completed and commercial production had started w.e.f. September 28, 2023.

Consequent to the said modernisation, the annual production capacity of the said manufacturing facility for ceramic tiles has also been increased to 31.32 MSM from 29.40 MSM, the company said in a statement.

Cholamandalam Investment: Cholamandalam Investment and Finance Company on September 28 announced the launch of its qualified institutional placement (QIP) issue at a floor price of Rs 1,200.51 per equity share. The compulsorily convertible debentures (CCD) will have a face value of Rs 1,00,000 each, Cholamandalam stated in its regulatory filing.

Piramal Pharma: The US Foods and Drugs Administration (USFDA) conducted a Good Manufacturing Practices (GMP) inspection at the company's Bethlehem unit and issued two objections with Form 483

Navin Fluorine: The company's Managing Director Radhesh R. Welling resigned due to personal reasons. The resignation will be effective from December 15. Executive Chairman Vishad P. Mafatlal will look after the functioning of the company.

Godrej Properties: The company acquired 109 acres of land in Nagpur.

Glenmark Pharma: S&P changed the company's outlook from stable to positive. The outlook changed after the stake sale at Glenmark Life. S&P believes the company will use the proceeds from the share sale to repay its debt.

MCX: The market regulator, the Securities and Exchange Board of India (SEBI), postponed the shafting of MCX to a new platform. MCX has accepted SEBI's suggestion. Suggestions were given while the case was pending in Madras High Court.

Aurobindo Pharma: As per sources, the company got approval for the launch of Aurobindo Pharma's drug Revlimid for which sales will start next week. The market size of Revlimid is Rs 35,000 crore.

Adani Green Energy: Abu Dhabi conglomerate International Holding Company (IHC) said it will dispose of its investment in India's Adani Green Energy and Adani Energy Solutions, reported Reuters on September 28. The IHC held over one per cent stakes in two Adani group companies and has now entered into a pact with a buyer to dispose of its investments.

Shreyas Shipping: The company's delisting offer was rejected against the indicative price of Rs 375; the discovered price was Rs 890; and the floor price was Rs 292.

Saregama India: Saregama India Ltd. on Thursday acquired a majority stake in digital entertainment company Pocket Aces Pictures Pvt., which owns online properties such as Dice Media and Filtercopy.

TVS Supply Chain Solution: The company has approved the proposal for the sale of a 4.5 per cent stake in associate company TVS Industrial and Logistics Parks Pvt Ltd. The company will get Rs 51 crore from this sale.

Happiest Minds Technologies: The company's promoter, Ashok Soota, sold 13.12 lakh shares, or 0.89 per cent stake, at Rs 879.04 per share.

Hindustan Oil Exploration: HDFC Bank sold 24.65 lakh shares or 1.86 per cent stake in the company at Rs 155.18 per share.

Krsnaa Diagnostics Ltd: INVESCO MUTUAL FUND sold 1.95 lakh shares or 0.62 per cent stake, at 675.02 apiece.

Quick Heal Technologies: Sequoia Capital India Investment Holdings III sold 17.85 lakh shares, or a 3.36 per cent stake, at Rs 240 per share. On the other hand, Carnelian Asset Advisors Pvt ltd bought 7.5 lakh shares or 1.41 per cent stake at Rs 240 per share.

Patanjali: The company will have its annual general meeting (AGM) today at 3 p.m.

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(With inputs from PTI)

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