Top Stocks to Watch Sep 26: Indian equity benchmark indices snapped their four-day losing streak and settled marginally higher on Monday after a highly volatile session as weak global trade and foreign fund outflows dented the investor sentiment.
"The day presented a mixed picture in the market, with sectors such as Realty, Banking, and Consumer Durables performing well while IT and Pharma struggled. Investors were actively repositioning, shifting away from stocks tied to the global economy and focusing on the domestic economy. Concerns loomed over a potential global economic slowdown due to the prolonged period of high interest rates,” said Vinod Nair, Head of Research at Geojit Financial Services.
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While the domestic market is witnessing good registration and consumption demand ahead of the festival season, India's entry into JP Morgan's Emerging Markets Government Bond Index is benefiting the financial sector in anticipation of a reduction in funding costs," he added.
Top Stocks To Watch On 26 September
Here's a list of stocks to watch out today:
Tata Steel
Global ratings agency Moody’s has upgraded the corporate family rating of the Tata Group company from Ba1 to Baa3, and changed the outlook from Positive to Stable. It expects the company’s profitability to increase even as lower steel prices affect revenues. The ratings agency also expects the company to maintain conservative financial policies with a well balanced capital allocation and financial metrics appropriate for its Baa3 rating.
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Wipro
The IT services major announced it has successfully concluded the sale of sizeable prime property in Chennai, Tamil Nadu. The transaction involved the sale of a 14.02-acre land along with a 20-year-old building measuring approximately 589,778 square feet for Rs 266.38 crore. The properties were bought by Casagrand Bizpark.
Welspun Corp
The pipemaker’s wholly owned subsidiary Sintex BAPL Has signed an MoU with the state government of Telangana to set up a manufacturing unit in the state with up to Rs 350 crore investment. The proposed project is for manufacturing water tanks and pipes under the state government’s incentive scheme.
HDFC Asset Management Company
HDFC AMC will invest Rs 25 crore in its subsidiary HDFC AMC International to help it meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under IFSC rules.
Fortis Healthcare
The company has received approval from the board of directors to acquire 99.9 per cent stake in Artistery Properties for Rs 32 crore.
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