IIFL Finance Ltd., Infosys Ltd., NTPC Ltd., Reliance Infrastructure Ltd., Sandur Manganese & Iron Ores Ltd. are the stocks to watch on Friday.
IIFL Finance had its restrictions imposed on its gold loans business lifted by the Reserve Bank of India. The company can now resume sanctioning, disbursal, assignment, securitisation, and sale of gold loans. The RBI had prohibited the company's gold loans business on March 4.
Infosys announced on Thursday that it would acquire up to a 20% stake in GalaxEye, a space-tech startup that builds multi-sensor satellites. The stake will be acquired for Rs 17 crore and the transaction is expected to be completed by Sept. 30.
NTPC s board of directors approved on Thursday a total investment of Rs 20,922 crore across two major power projects at an estimated cost of approximately Rs 11,131 crore.
Reliance Infrastructure Ltd. board on Thursday approved raising Rs 3,014 crore by preferential issue of shares to promoter and non-promoter entities to fund business expansion. The company also sought shareholders' nod to raise up to Rs 3,000 crore by making a qualified institutional placement of shares.
Sandur Manganese & Iron Ores Ltd. has been granted consent by the Karnataka Government and the State Pollution Control Board to enhance its production from the mines.
The benchmark indices ended Thursday at fresh closing highs as risk appetite increased among traders, with the US Federal Open Market Committee guiding for more rate cuts after reducing the key rate for the first time in over four years.
The NSE Nifty 50 ended 38.25 points, or 0.15% higher at 25,415.80, and the S&P BSE Sensex settled up 236.57 points, or 0.29% at 83,184.80.
The NSE Nifty 50 is likely to consolidate in the range of 25,300–25,500, according to analysts.
"The consolidation range of the index is 25,300–25,500 and a convincing move on either side will decide the trend," Aditya Gaggar, director of Progressive Share Brokers said.
The Reserve Bank of India may follow the Fed's lead but not immediately, according to Pradeep Gupta, vice chairperson of Anand Rathi Group. "Improved global sentiment could drive a rally in Indian markets as emerging economies like India become more attractive to investors."
The larger texture of the market is still on the positive side, according to Shrikant Chouhan, head of equity research at Kotak Securities Ltd.
Here Are The Stocks To Watch On Friday
IIFL Finance: The RBI lifts restrictions imposed on gold loans business. The company can now resume sanctioning, disbursal, assignment, securitisation, and sale of gold loans. The RBI had prohibited the company's gold loans business on March 4.
Infosys: The company extended collaboration with Posti for operational efficiency solutions via Infosys Topaz. The company has agreed to invest in SpaceTech startup, GalaxEye up to Rs 17 crore.
NTPC: The company received investment approval for Darlipali Project at appraised estimated cost of Rs 11,131 crore and received investment approval for Sipat Project at appraised estimated cost of Rs 9,791 crore.
Reliance Infra: The company approved raising up to Rs 3,014 crore via preferential issue of shares. The company to allot 12.56 crore shares or warrants to Investors at Rs 240 apiece.
Jyothy labs: The company acquired laundry service brand Quiclo from Smartwash Solutions along with its software and customer database for Rs 70 lakh. The proposed transaction will help the company in strengthening its laundry service business and customer base in Hyderabad.
Sandur Manganese: Karnataka pollution board grants consent of operation for company's manganese & iron ore mines for the enhancement of manganese ore production from current 0.43 MTPA to 0.55 MTPA.
Power Grid Corp.: The company declared as successful bidder for Khavda transmission project in Gujarat.
Housing & Urban Development Corp.: The company has a potential for extending loan assistance in the range of Rs. 75,000 Crore to Rs 1 lakh crore under the Pradhan Mantri Awas Yojana-Urban 2.0 scheme.
The Phoenix Mills: The company’s unit Casper Realty declared as highest bidder for 2 city-centric plots in Mohali, Punjab.
Abbott India: The company in non-exclusive agreement with Takeda Pharma to market and distribute Vonoprazan drug in India.
Also Read: Your Guide To FII Positions On Sept 20 Trade
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