Stocks To Watch: Gujarat Gas, NHPC, SJVN, Fortis, Aditya Birla Capital, Adani Energy, Canara Bank
he NSE Nifty 50 ended 0.40%, or 100.55 points, higher at 25,252.50, and the Sensex closed 0.28%, or 231.16 points, up at 82,365.77.
Shares of Gujarat Gas Ltd., NHPC Ltd., SJVN Ltd. and Fortis Healthcare Ltd. will be in focus on Monday.
Gujarat State Petronet Ltd. has announced a restructuring plan to streamline its corporate structure. After the restructuring, the company will function through two primary entities: Gujarat Gas Ltd. and GSPL Transmission Ltd.
Solar Energy Corp., RailTel Corporation of India Ltd., NHPC Ltd., and SJVN Ltd. have been given Navratna status by the Government of India.
Fortis Healthcare is set to acquire the entire 31.52% stake held by private equity investors in Agilus Diagnostics.
India's benchmark stock indices ended at a record closing high on Friday, with the Nifty 50 extending gains for the 12th consecutive session, marking the best rally since its launch in 1996. Sensex rose for the ninth consecutive session.
The NSE Nifty 50 ended 0.40%, or 100.55 points, higher at 25,252.50, and the Sensex closed 0.28%, or 231.16 points, up at 82,365.77.
This technical move suggests that the index could advance towards the 25,500 level in the short term, with the potential to rally further to 26,000-26,250 if it sustains above this key threshold, said an analyst.
"The Nifty extended its gains for the twelfth consecutive session, marking the strongest rally since its inception in 1996. The Sensex also rose for the ninth consecutive session. Both indices closed at all-time highs," said an analyst.
Here Are The Top Stocks To Watch On Monday
Gujarat State Petroleum Corp., Gujarat Gas, Gujarat State Petronet: Gujarat State Petronet Ltd. announced on Friday a restructuring plan to simplify its corporate structure. Following the restructuring, the company will operate through two main entities: Gujarat Gas Ltd. and GSPL Transmission Ltd.
Navratna Status: Solar Energy Corp., RailTel Corporation of India Ltd., NHPC Ltd. and SJVN Ltd. have received Navratna status from the Government of India.
Fortis Healthcare: The company will buy the entire 31.52% stake held by PE Investors in Agilus Diagnostics. It will fund this acquisition via the issuance of NCDs.
Reliance Industries: The National Company Law Tribunal in Mumbai has sanctioned the media merger between Viacom18 and Star India on Friday. The Competition Commission of India had also recently approved the merger.
Adani Energy Solutions: The company signed a share purchase agreement with REC power development and consultancy to buy Khavda IVA power transmission.
Aditya Birla Capital: The company has completed a 50% stake sale of Aditya Birla Insurance Brokers to Samara Capital arm Edme Services for an upfront consideration of Rs 252 crore.
Canara Bank: The credit agency Moody's has assigned a Baa3 rating with a stable outlook to the issuance of up to $500 million in notes.
Life Insurance Corporation of India: The insurance provider reduced its stake in HDFC AMC to 2.88% from 4.9%.
Insecticides (India): The board has sanctioned a buyback of shares worth Rs 50 crore at Rs 1,000 each, with the record date set as Sept. 11.
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