Stocks To Watch: Escorts Kubota, Vedanta, Hindustan Zinc and Jubilant Pharmova
Here are the stocks to watch before going into trade on Monday
Escorts Kubota, Vedanta, Hindustan Zinc and Jubilant Pharmova will be in focus, as Escorts Kubota has expressed its intention to invest in Uttar Pradesh by submitting a proposal to acquire land for establishing a new greenfield facility in the state.
Jubilant Pharmova will be in focus as its unit, Jubilant Biosys, is set to add drug discovery and preclinical development capabilities.
Vedanta plans to use the oversubscription option to acquire an additional 0.29% stake in the current Offer for Sale for Hindustan Zinc. Consequently, the total size of Vedanta's offer will now account for 1.51% of the company's overall stake.
The GIFT Nifty was trading 0.17% or 42 points higher at 24,671.50 as of 6:57 a.m.
The markets are expected to react to the IPO offers of Interarch Building Products, the block deal of Canara Bank and Ashapura Minechem and the bulk deal of Electronics Mart India, which were announced on Friday after the closing bell.
Benchmark equity indices ended with weekly gains after two consecutive weeks of losses. Both the Nifty and Sensex recorded their highest closing since Aug. 2 on Friday as shares of financial and technology companies led the gains.
Analysts anticipate that earnings will maintain a steady growth rate of approximately 15% over the next two fiscals, from 2024 to 2026. The recent softening of US Producer Price Index data has fuelled speculation about potential rate cuts by the Federal Reserve. As a result, attention will be focused on the upcoming release of the Fed's meeting minutes. Analysts expect the market to consolidate within a broader range and respond to global economic factors.
Here Are The Top Stocks To Watch On Friday
Escorts Kubota: The company has submitted an investment intent to the Uttar Pradesh government to acquire land in the state to set up a greenfield facility. The company intends to invest Rs 4,500 crore through direct and indirect investment in multiple phases. Annual production revenue is estimated at over Rs 10,000 crore at full capacity.
Hindustan Zinc, Vedanta: Vedanta will exercise the oversubscription option for an additional 0.29% stake in the ongoing offer for sale. Vedanta's total offer size now represents 1.51% of the company’s total stake.
Jubilant Pharmova: The company’s unit, Jubilant Biosys, will add drug discovery and preclinical development capabilities. Capabilities to be added via a new company incorporated in France, which will acquire Pierre Fabre's R&D Centre in the country. The company is to invest up to €14.4 million over seven years, including €4.4 million for an 80% stake in the new company.
DCX Systems: The company gets Rs 107 crore orders from domestic and overseas customers.
KPI Green Energy: The company raised Rs 100 crore via QIP and allotted 1.06 crore shares to QIBs at Rs 935 per share.
Techno Electric & Engineering Company: The company partnered with IndiGrid to develop greenfield transmission projects.
URJA Global: The company announced the pre-launch of its new high-speed electric scooter, CHETNA.
Samvardhana Motherson International: The company incorporated a new unit in Abu Dhabi for auto component manufacturing.
Tamilnad Mercantile Bank: The RBI approved the appointment of Salee Sukumaran Nair as MD and CEO for three years.
SBI and Punjab National Bank: The Karnataka state government has temporarily suspended the circular instructing all departments to close their accounts with the State Bank of India and Punjab National Bank for 15 days. The banks have requested this period to address and resolve the issue.
