The BSE Sensex gained 319.63 points or 0.47 per cent to hit an all-time high of 67,927.23, whereas the NSE Nifty jumped 89.25 points or 0.44 per cent to settle at record 20,222.45. Seeking guidance on today's potential stocks to watch on 18 September 2023 read the story.
Stocks to Watch on Monday, September 18: Indian benchmark equity indices touched fresh all-time highs on Friday to settle at a record close. Nifty rallied for the third session, and Sensex gained for the 11th day, the longest streak of gains since October 2007.
On Friday, the BSE Sensex gained 319.63 points or 0.47 per cent to hit an all-time high of 67,927.23, whereas the NSE Nifty jumped 89.25 points or 0.44 per cent to settle at record 20,222.45.
“The Nifty Index gained 1.8% this week and breached the 20,000 mark for the first time. Indian mid-cap and small-cap indices underperformed the large-cap benchmark in a volatile week. Amongst sectors, BSE Healthcare, BSE IT, BSE Auto and BSE Bankex indices were the major gainers this week. On the other hand, BSE Energy, BSE Capital Goods, BSE Oil & Gas, BSE Power and BSE Realty indices, posted negative returns for the week,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.
“On the economy front, August 2023 CPI inflation moderated to 6.8 per cent (from July 2023), while July 2023 IIP growth surprised on the upside at 5.7 per cent. In the US, the inflation increased by 3.7 per cent in August 2023 compared to a year ago. In Europe, the ECB raised interest rates to 4 per cent, up 25 bps. Crude prices continued to strengthen with Brent crude trading above the $94 barrel mark,” he added.
The Tata Group Company and UK Government have entered into a mutual agreement to invest in electric arc Furnace steelmaking at the Port Talbot facility, with a total capital expenditure of 1.25 billion pound, inclusive of Euro 500 million pound. In addition, the project would involve Tata Steel’s balance sheet being restructured with potential elimination of the current cash losses in the UK operations and non-cash impairment of legacy investments. The Port Talbot project will reduce direct emissions by 50 million tonnes over 10 years.
The state-owned defence company has received an order worth Rs 2,118.57 crore from Cochin Shipyard for sensors, weapon equipment, fire control systems, and communication equipment for six Next Generation Missile Vessels (NGMV), a class of anti-surface warfare corvettes for the Indian Navy, the company said in a statement. It also received orders worth Rs 886 crore for upgradation of AFNET SATCOM N/W & Akash missiles with RF Seeker, and inertial navigation system and other equipments with accessories and spares.
The company has received board approval for additional investment of Rs 903.52 crore in Hindustan Urvarak and Rasayan (HURL). HURL is a joint venture (JV) of Indian Oil established for setting up of fertilizer plants at Gorakhpur, Sindri and Barauni.
Zomato Slovakia, a step-down subsidiary of the company has started the process of liquidation on 14 September, which is estimated to be completed within 9-12 months. The company does not have any active business operations. The dissolution will not affect the turnover/revenue of Zomato.
The Defence Acquisition Council has given approval for Acceptance of Necessity (AON) for procurement of 12 Su-30MKI Aircraft from Hindustan Aeronautics, with associated equipment and avionics upgradation of Dornier Aircraft.