Stocks To Watch Today, September 22: ICICI Bank, Wipro, Vedanta, Others Are Trending

Stocks to Watch today, September 22: Indian equity benchmark indices continued to witness selling pressure for the third straight session to close nearly 1 per cent down on Thursday as investors reduced exposure to auto, banking, and financial shares amid a sluggish trend in global markets.

Global markets were down after the US Federal Reserve indicated that they expect to raise rates one more time this year to curb inflation.

The BSE Sensex fell 570.60 points or 0.85 per cent to settle at 66,230.24. The NSE Nifty tanked 159.05 points or 0.80 per cent to end at 19,742.35.

“Domestic market declined following a hawkish stance by the Fed chair and prolonged high interest rate trajectory which is not positive for a slowing global economy. PSU Banks and Mid & Smallcaps were the worst hit due to stretched valuations and concern over moderation in yields. Rising oil prices and erratic rainfall further led investors to stay cautious in the market," said Vinod Nair, Head of Research at Geojit Financial Services.

Top Stocks To Watch On 22 September

Here's a list of stocks to watch out today:

ICICI Bank

The private sector bank has entered into an agreement for the investment of around for the investment of around Rs 5 crore in Quantum CorpHealth, which is a healthcare services platform. The transaction will be completed through equity shares and compulsorily convertible preference shares (CCPS). With this investment, the bank will own 9.99 per cent stake in Quantum CorpHealth through the subscription of 100 equity shares and 3,33,200 CCPS.

Vedanta

The company board has approved raising up to Rs 2,500 crore though non-convertible debentures (NCDs) in one or more tranches, on a private placement basis. It will issue 2.5 lakh NCDs with a face value of Rs 1 lakh each.

Wipro

The Bengaluru-based IT services company informed bourses on Thursday that the company’s Chief Financial Officer (CFO) Jatin Pravinchandra Dalal has resigned from the position and Aparna Iyer has been appointed as the new CFO.

Tech Mahindra

The IT services company has approved the merger of Tech Mahindra Credit Solutions Inc with its parent company Tech Mahindra (Americas) Inc. Tech Mahindra (Americas) Inc is a wholly owned subsidiary of Tech Mahindra. The merger will optimize operational cost and reduce the compliance risk, the company said.

Glenmark Pharma

The drugmaker will sell a 75% stake in Glenmark Life Sciences for Rs 5,652 crore to Nirma at Rs 615 per share. After the stake sale, the company will own 7.84 per cent stake in Glenmark Life Sciences.