Shares of InterGlobe Aviation Ltd., Genus Power Infrastructures Ltd., and One 97 Communications Ltd. will be in focus on Thursday.
Founder Rakesh Gangwal and the Chinkerpoo Family Trust are looking to sell up to 1.47 crore shares of InterGlobe Aviation at a floor price of Rs 4,953 per share, indicating a 5.5% discount to the current market price.
Genus Power Infrastructure's division has been awarded letters for three contracts valued at Rs 4,469 crore to appoint advanced metering infrastructure service providers.
One 97 Communications has obtained the Finance Ministry's approval for downstream investment in Paytm Payment Services. Paytm Payment Services is set to resubmit its payment aggregator license application and will keep offering online payment aggregation services to its current partners.
The benchmark equity indices continued their uptrend on Wednesday, with the NSE Nifty 50 recording its best gaining streak since October 2020 to close at its lifetime high and the S&P BSE Sensex extending gains for the seventh consecutive session.
The Nifty closed 34.6 points or 0.14%, higher at 25,052.35 and the Sensex ended 73.80 points or 0.09%, higher at 81,785.56.
Analysts caution that a failure to break this resistance may trigger short-term consolidation or profit-taking, as indicated by the spinning top candlestick pattern.
"Traders might consider booking profits if the index remains below this level," said an analyst. "On the other hand, a sustained move above 25,130 could reignite the rally towards 25,300–25,500, with immediate support seen near the 24,820 mark."
Here Are The Top Stocks To Watch On Thursday
One 97 communication: The company has received approval from the Finance Ministry for downstream investment into Paytm Payment Services. Paytm Payment Services will resubmit its payment aggregator license and continue to provide online payment aggregation services to its existing partners.
InterGlobe Aviation: Founder Rakesh Gangwal and Chinkerpoo Family Trust seek to sell up to 1.47 crore of the of the company's shares at a floor price of Rs 4,953 per share, which indicates a 5.5% discount to CMP and a 5.5% discount to the current market price.
Genus Power Infrastructure: The company's arm has been awarded letters for three contracts valued at Rs 4,469 crore to appoint advanced metering infrastructure service providers.
KEC International: The company received a new order worth Rs 1,171 crore for its transmission and distribution business in the UAE and Saudi Arabia.
Tata Steel: The company has purchased 178 crore shares of Tata Steel Holdings for Rs 2,348 crore. Following the acquisition, Tata Steel Holdings will remain a subsidiary.
PB Fintech: Tencent Cloud looks to sell a 2.1% stake or 97 lakh shares, in the company at Rs 1,660.20 per share, which indicates a 4.5% discount to the current market price.
Reliance Industries: CCI approved the Reliance-Disney merger, subject to compliance with voluntary modifications.
MTNL: Union Bank freezes company accounts over non-payment of dues. All accounts, including collection and the current account, have been frozen due to the loan account turning NPA.
Sonata Software: The company has received a multi-year, multi-million-dollar IT outsourcing contract from a US-based healthcare and wellness company.
NLC India: The company has entered into a power usage agreement to supply 200 MW of green power to Telangana for a duration of 25 years.
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