Stocks to Watch Today: ONGC, Jindal Steel and Power, TCS, Infosys, Apollo Tubes and More

Stocks to Watch Today, September 09, 2021: The US Fed’s report also known as the Beige Book observed that US economy ” downshifted slightly” in the summer.

The Indian markets taking negative global cues could open on a flat note. The US Fed’s report also known as the Beige Book observed that US economy ” downshifted slightly” in the summer. This observation by the fed led to a fall in the US and Asian stock markets. Factoring the same, Hong Kong’s the Hang Seng Index on Thursday Seng Index dropped 0.93 percent, or 244.00 points, to 26,076.93.The Shanghai Composite slipped 0.23 percent, or 8.36 points, to 3,666.82. On the other hand, Tokyo stocks opened lower on Thursday as Wall Street falls weighed on the market. The benchmark Nikkei 225 index was down 0.69 per cent, or 207.50 points, at 29,973.71 in early trade, while the broader Topix index slipped 0.60 percent, or 12.45 points, to 2,067.16. However, The S&P500 index fell 5.96 points to 4,514.07, which is 0.5 per cent below the all-time high the index set last Thursday. The Dow Jones Industrial Average fell 68.93 points, or 0.2 per cent, to 35,031.07, and the Nasdaq composite slid 87.69 points, or 0.6 per cent, to 2,249.73. The tech-heavy index’s decline ended a four-day winning streak.

At 0719 IST hours, the Nifty Futures on Singapore Stock Exchange was trading at 17,324, down 38.75 points, or 0.22 per cent, signaling a negative start for the Indian markets. On Wednesday, the Indian markets closed on a volatile note for the third consecutive day in a row. The BSE Sensex closed, down 29 points, or 0.05 per cent, at 58,250.26 while the broader Nifty settled down 9 points, or 0.05 per cent, at 17,353.50. 

Here are some stocks that would be in focus today:

ONGC: ICRA has assigned ‘AAA’ credit rating for non-convertible debentures (NCD) of the company for Rs 7,500 crore.

Asian Granito India:  The company’s Rights Issue is scheduled to open on September 23, 2021 and closes on October 7, 2021. The funds raised via this Rights issue will be used to repay/prepay certain outstanding borrowings, meeting working capital requirements for the company’s business activities and for general corporate purposes. 

KPI Global Infrastructure: The company has terminated power purchase agreement signed for the capacity of 1.10 MW solar power plant under Independent Power Producer (IPP) segment.

APL Apollo Tubes : The stock has registered a fresh 52-week high price of Rs 1,874.95 per share on Wednesday. On the charts, the stock price has broken the current resistance level and has formed long green candles with a spurt in volumes for 2 consecutive trading sessions. On the other hand, for 6 consecutive trading sessions, the stock is trading above its 20 and 30-day moving averages. It is likely to be on the watch list for Thursday. 

Jindal Steel & Power: Subsidiary Jindal Steel & Power (Australia) Pty Ltd made a pre-payment of $105.66 million (Rs 777.4 crore). The prepayment has helped reduce the Australian debt by approximately 50 percent.

TCS: Avianca, one of the leading airlines in South America, partnered with TCS to accelerate its journey to the cloud.

Shree Ganesh Remedies: The company has acquired the 100 per cent equity stake of Akshar Jyot (AJPL), which is in process to acquire 26 per cent equity stake in Dhari Chemicals.

Infosys: The company and The Economist Group announced a new strategic partnership designed to enable and accelerate sustainability solutions and drive world-changing impact through a new business-to-business model.

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