GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a weak opening. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded lower as the index was down 102.50 points or 0.46% at 22,250.00 indicating a muted start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 lost 246.90 points or 1.10% to settle at 22,272.50, while the BSE Sensex nosedived 845.12 points or 1.06% to close at 73,399.78.

Stocks to watch on April 16, 2024

SBI

Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: SBI, Infosys, Titan, Britannia, Divis Lab, Ambuja Cements, JK Tyre Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea

The National Company Law Tribunal’s (NCLT) Mumbai bench has disposed of two separate insolvency cases filed against its subsidiary Mumbai Metro One (MMOPL). The petitions, filed by State Bank of India and IDBI BANK, were dismissed due to a debt settlement agreement reached between Mumbai Metro and the lenders, providing relief to RInfra.

TCS

Despite posting a good set of numbers during the January-March quarter, analysts maintain that weak discretionary demand will remain a pain point for TCS with clients continuing to prioritise cost saving projects, thereby leaving limited near-term growth visibility for the company.

Thermax

On Monday, Thermax opened a new manufacturing facility in Chinchwad, Pune, for water and wastewater treatment solutions. Ashish Bhandari, managing director and CEO of Thermax said, their water and wastewater business had grown 3x in the last four years and continues to grow, driven by regulations, better enforcement of those regulations, transition to sustainable technologies and shortage of water.

Tata Power, Adani Power, JSW 

The Ministry of Power has declared that imported coal can be used till October 15 by the thermal plants to operate on full capacity. Tata Power and Adani Power’s plants at Mundra in Gujarat, Essar power plant in Salaya, JSW Ratnagiri, Tata Trombay, Udupi Power, Meenakshi Energy, and JSW Torangallu are among the 15 imported coal-based (ICB) power plants who received notification from the ministry.

JSW Infrastructure

On Monday, JSW Infrastructure announced the re-appointment of Arun Maheshwari as the joint managing director and CEO of the company, with effect from April 18, 2024 for a term of 3 years. In a regulatory filing, the company said, “Mr Maheshwari is appointed as the Additional Director designated as Jt. Managing Director (Key Managerial Personnel – Managing Director) in South West Port Limited (subsidiary of the Company) with effect from April 18, 2024.”

Jio Financial Services 

On Monday, Jio Financial Services announced entering into a joint venture with BlackRock for wealth management and broking business in India. It has signed a 50:50 joint venture to undertake wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India, the company said in an exchange filing.

Cipla 

Cipla’s consumer healthcare arm and the wholly owned subsidiary, Cipla Health signed a business transfer agreement (BTA) for the purchase of the distribution and marketing business undertaking of cosmetics and personal care business of Ivia Beaute, India, which includes IVIA’s brands such as Astaberry, Ikin, and Bhimsaini on a worldwide basis. 

Manappuram Finance 

On Monday, Manappuram Finance to consider raising funds amounting to $500 million in one or more tranches.

LIC

Life Insurance Corporation of India has increased its stake in Hindustan Unilever to 5.01% from 4.99%, according to an exchange filing.