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Stocks in Focus: Welspun Enterprises, Reliance Industries, Tata Motors, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.24% lower by 64.50 points at 26,289.50, indicating that the domestic benchmark indices are likely to make a negative start on Monday. 

On Friday, 27 September, Domestic benchmark indices S&P BSE Sensex slumped 264.27 points or 0.31% to end at 85,571.85 while the Nifty50 traded 37.10 points lower or 0.14%, and settled at 26,178.95.

Here are some stocks that are likely to remain in focus on 30 September.

Welspun Enterprises: The company has emerged as the Lowest Bidder (L1) for a project worth Rs 1,989.9 crore from the Brihanmumbai Municipal Corporation, for the design and construction of an 8.48 km tertiary tertiary treated water conveyance tunnel from the Dharavi Wastewater Treatment Facility (WWTF) to the Ghatkopar WWTF. 

Reliance Industries: The company has announced a strategic joint venture with Disney to combine some of India’s most compelling entertainment brands. The company has also received approval from the Ministry of Information and Broadcasting for the transfer of licenses for non-news and current affairs TV channels held by Viacom18 Media Private Ltd. 

Tata Motors: The company has conducted a ceremony for its new vehicle manufacturing facility in Tamil Nadu, which will run on 100% renewable energy and will produce new-generation vehicles for both India and overseas markets. 

BSE: The company has revised its transaction charges for Bankex and Sensex options across all expiries to Rs 3,250 per crore of premium turnover value from 1 October. 

Zydus Lifesciences: The company has received final approval from the USFDA to manufacture Enzalutamide Capsules, 40 mg, which are used to treat patients with metastatic castration-resistant prostate cancer.

Biocon: The company’s arm, Biocon Biologics’ insulin facility in Johor Bahru, Malaysia, has successfully cleared the USFDA (US Food and Drug Administration) inspection. The US regulator found no issues related to systemic deficiencies, data integrity, or quality oversight. 

Bharat Electronics: The company has received approval from the Ministry of Corporate Affairs to incorporate BEL IAI AeroSystems Private Limited as a Joint venture between the company and Israel Aerospace Industries Ltd. 

Apollo Hospitals: The Board of Directors of the company have approved the allotment of Rs 2,475 crore worth of compulsorily convertible non-cumulative participating preference shares (CCPS – Class A and B) that have a face value of Rs 100 per share to Rasmeli. 

Adani Enterprises: The joint venture company of Adani Airport Holdings, April Moon Retail, has signed a share purchase agreement to acquire a 74% stake in Cococart Ventures for a total consideration of Rs 200 crore. 

Lupin: The USFDA conducted an inspection at the company’s Pithampur Unit-1 API and finished product manufacturing facility between 16 September and 27 September. It concluded the inspection with three observations. 

Radico Khaitan: The company has officially unveiled Rampur’s latest expression of India Single Malt Whisky, The Barrel Bush, at Whisky Live Paris 2024.

Punjab National Bank: The state-run bank has announced a rise of Rs 5,000 crore through a Qualified Institutions Placement (QIP). The company has approved allotting 48.19 crore shares to eligible qualified institutional buyers for a price of Rs 103.75 per share.

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