Stocks to watch: Sun Pharma, Suzlon Energy, OMCs, Biocon, IHCL, Tata Power

Stocks to watch today: GIFT Nifty is indicating yet another weak session on Wednesday as rising crude oil prices and US-Iran hostilities continue to keep risk appetite subdued. At 7:45 AM, GIFT Nifty traded 61 points, or 0.26 per cent, lower at 23,652.

Earlier on Tuesday, markets extended losses for the second straight day as the BSE Sensex dropped 555.23 points, or 0.73 per cent, to settle at 75,577.58. The Nifty 50 ended 144.05 points, or 0.61 per cent, lower at 23,635.10.

Meanwhile, Asian markets were trading mixed at the start, with South Korea’s Kospi surging 1.3 per cent, followed by Japan’s Nikkei 225, which gained 0.4 per cent. However, Australia’s S&P/ASX 200 and Hong Kong’s Hang Seng Index were trading 0.3 per cent and 0.4 per cent, respectively, lower.

In commodities, rising tensions in West Asia lifted crude oil prices. At the last check, Brent crude traded 1.4 per cent higher at $99.41 a barrel, while US West Texas Intermediate (WTI) crude rose 1.5 per cent to $94.35.

Overnight in the US, all three key Wall Street indices ended lower. The S&P 500 declined 0.58 per cent. The Nasdaq dipped 0.32 per cent, while the Dow Jones Industrial Average lost 1.18 per cent.

Stocks to watch today, September 9

Emami Ltd: The FMCG major has extended its skincare brand BoroPlus into the baby-care segment, with the launch of a new range of products. It has launched ‘BoroPlus FromMaa’, which offers a new range of baby-care products.

Signature Global: The realty firm will launch two big housing projects worth ₹12,000 crore in Gurugram during the second half of this fiscal as it seeks to tap festive demand.

HCL Technologies: The IT firm has announced the launch of an advanced semiconductor lab in Bengaluru, entailing an investment of ₹185 crore.

Sun Pharma: Moody’s and S&P have assigned investment-grade ratings to Sun Pharmaceutical Industries over the proposed USD 11.75-billion acquisition of US-based Organon & Co. S&P Global Ratings assigned a preliminary ‘BBB+’ long-term issuer credit rating, while Moody’s Ratings assigned a ‘Baa1’ long-term issuer rating. Both agencies have maintained a ‘stable’ outlook for the company.

Crude-linked stocks: OMCs Indian Oil, HPCL, BPCL and other crude-linked stocks including Asian Paints, IndiGo will remain in focus as oil prices test $100 a barrel amid escalation in West Asia tensions. 

TCS: The IT major has won a contract worth ₹122.6 crore to implement the next phase of the Odisha State Workflow Automation System (OSWAS 3.0).

Bank of India: S&P Global Ratings has assigned ‘BBB’ long-term rating to Bank of India (BoI) on sufficient capitalisation, solid funding, and healthy liquidity.

Indian Hotels Company: IHCL has announced the signing of a 111-key brownfield property under the Ginger brand in Nava Raipur, Chhattisgarh. With the addition of this hotel, IHCL will have four hotels in Chhattisgarh, including three under development.

Bajaj Finance: The NBFC has acquired a 5 per cent stake in AI-powered video generation platform TrueFan AI, as part of its group-wide initiative to back technology startups and develop scalable solutions.

Tata Power: Tata Power Solaroof, division of Tata Power Renewable Energy Ltd, which is a subsidiary of The Tata Power, has surpassed 5 lakh rooftop solar installations across India and facilitated over ₹8,500 crore in solar financing in the country.

Suzlon Energy: The company has secured a 200 MW wind energy order from Ayana Renewable Power Ltd, marking the company’s third devco-led wind order across two states — Madhya Pradesh and Andhra Pradesh.

Jio Financial Services: JioBlackRock AMC announced the launch of the JioBlackRock Balanced Advantage Fund on Tuesday, stating that its AUM have crossed ₹22,000 crore, up from nearly ₹16,000 crore in March.

Biocon: The company has announced the signing of partnership agreement with Bahiafarma and Bionovis for Pertuzumab in Brazil, marking an important milestone in advancing production and commercialisation of the HER2-positive breast cancer therapy under the country’s Productive Development Partnership (PDP) program.

Avenue Supermarts: The company has raised ₹300 crore through commercial papers. The commercial papers, which will have a tenure of 90 days, are proposed to be listed on the BSE.

360 ONE WAM: An AIF managed by Mumbai-based 360 One Asset, along with a group of co-investors, has infused fresh growth capital into Rungta Greentech, marking the company’s second round of investment.

Park Medi World: The company has announced the incorporation of a wholly-owned subsidiary, Park Medicity Prayagraj Ltd, to develop and operate a 550-bed multi-super-speciality hospital in Uttar Pradesh.