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Stocks to Watch: Indiabulls Housing Finance, United Breweries, Biocon, NBCC and More

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·4-min read
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Indian market taking mixed cues from global markets is expected to open in the positive territory. On Friday, the S&P BSE Sensex closed above the 60,000 mark for the first time. The Sensex rose 0.27 per cent to 60,048.47, a record close. The 30-stock index rose to a record 60,333 in intraday trade. The Nifty 50 advanced by a similar magnitude to 17,853.20.

At 0712 hours IST, the Nifty Futures on Singaporean Exchange was trading 18,002, up 119 points, or 0.67 per cent, which signals a positive start for the Dalal Street. Asia shares hesitant as oil hits 3-year highs. The MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, after three consecutive weeks of loss. Japan’s Nikkei gained 0.4 per cent on hopes for further fiscal stimulus once a new prime minister is chosen. On Friday, the Dow and S&P500 index edged higher on Friday and ended a turbulent week with slight increases, helped by gains in Tesla and Facebook that offset a tumble by Nike. The Dow Jones Industrial Average rose 33.18 points, or 0.1 per cent, to 34,798, the S&P500 index gained 6.5 points, or 0.15 per cent, to 4,455.48 and the Nasdaq Composite dropped 4.55 points, or 0.03 per cent, to 15,047.70.

Here are some stocks that would be in focus today:

PVR, Inox Leisure: Theatres, auditoriums will be reopened in Maharashtra from October 22, 2021.

EKI Energy Services: The company has opened three new international business points in Thailand, Jordon, and Indonesia, to meet the growing demand of services related to carbon credits. With this, the company now has presence in 12 countries.

Shriram City Union Finance: Acacia II Partners LP & Others sold 3 lakh shares in the company via open market transaction on September 17, reducing shareholding to 3.01 per cent from 3.46 per cent earlier.

Indiabulls Housing Finance: BlackRock Inc sold 6,43,970 equity shares in the company via open market transaction, reducing shareholding to 3.56 per cent from 3.7 per cent earlier. Indiabulls Housing Finance has sold a portion of its stake in OakNorth Holdings for approximately Rs 251 crore.

Orient Cement: The company has identified land admeasuring approximately 35 acres in Maharashtra, for establishing a Cement Grinding Unit. In this regard, Orient Cement has entered into a non-binding MoU with Adani Power Maharashtra, the lawful lessee, for facilitating bona fide use of the land for setting up CGU.

Hindustan Copper: Government to offer up to 31.98 lakh equity shares of face value of Rs 5 each to the eligible employees of the company at Rs 116 per equity share.

Alankit: The company has entered into a project from Punjab National Bank related to request for proposal for engagement of corporate business correspondents for financial inclusion by providing banking services through Kiosks. The company will be entitled to receive substantial amount from Punjab National Bank.

Container Corporation of India: The company has extended the tenure of V Kalyana Rama, Chairman and Managing Director of the company, till September 30, 2023.

Biocon: The US Food and Drug Administration has issued a Form 483 with a total of 6 observations across drug substance, drug product and devices facilities after completion of on-site pre-approval inspection at Biocon Biologics’ Insulin manufacturing facility in Malaysia.

SJVN: The company has bagged the full quoted capacity of 1000 MW at a Viability Gap Funding (VGF) support of Rs 44.72 lakh per MW from Government of India, through Request for Proposal (RFP) floated by Indian Renewable Energy Development Agency Limited (IREDA). The tentative cost of construction and development of this project is Rs 5,500 crore.

Dalmia Bharat: Dalmia Cement (Bharat), a subsidiary of the company, has commenced commercial production of Line 2, having a capacity of 2.25 million tonnes at its Kapilas Cement Manufacturing Works Unit near Cuttack, Odisha. With this addition, the company’s overall capacity at the plant has gone up to 3.95 MT per annum.

NBCC (India): The company has secured an order for construction of 2,000 social housing at Hulhumale, Maldives on EPC basis. The total cost of the project is $130 million (approximately Rs 968.50 crore)

United Breweries: The Competition Commission of India has imposed a penalty of Rs 751.83 crore on the company for anti-competitive conduct in the beer market in India. SJVN: The company has bagged

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