Despite our strong macroeconomic growth performance, Indian equity benchmarks are not insulated from global problems, said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities. Any correction in the global markets due to worries over further interest rate hikes could have a rub-off effect here as well, Chouhan added.
On the stock-specific front, Hindustan Aeronautics Ltd (HAL), Nazara Technologies, Indian Energy Exchange (IEX), Timken India, HealthCare Global Enterprises, BCL Industries, Yug Decor, Glenmark Life Sciences, Jubilant FoodWorks and Sheela Foam shares will be in focus on Thursday (October 5).
Shares of Hindustan Aeronautics fell 2.09% to close at Rs 1,916 in the last trading session. The aerospace & defence PSU has handed over the first LCA Tejas twin-seater to the Indian Air Force (IAF). LCA Tejas twin-seater is a light weight, all weather multi-role 4.5 generation aircraft.
Shares of Nazara Technologies tanked 1.36% to end at Rs 823.45. The Singapore subsidiary of NODWIN Gaming has acquired a 100% stake in game marketing agency PublishME for a sum of $2 million from its existing shareholders Nazara Technologies and Ozgur Ozalp.
Indian Energy Exchange (IEX) shares fell 2.56% to end at Rs 129.65. The energy exchange said it has achieved 9147 MU overall volume, including green market trade of 230 MU, 5.15 Lac RECs (equivalent to 515 MU) and 1.06 Lac ESCerts (equivalent to 106 MU). The overall volume traded during the month increased 13% on year-on-year (YoY) basis, IEX mentioned.
Shares of Timken India (formerly known as Tata Timken) settled with 0.55% gains at Rs 3,084.70. The company said a court has acquitted Ramesh Ramchandran (ex-CFO) and Gouri Shankar Roy (Senior management person) from charges of alleged non-compliances. The case was registered in 2015.
HealthCare Global Enterprises shares rose 1.03% to close at Rs 362.60 on October 4. The company said it has completed business transfer agreements with SRJ Health Care and Amrish Oncology Services for acquisition of their cancer care center and radiation business, respectively, on a slump sale basis.
Shares of BCL Industries plunged 3.52% to end at Rs 494.95. The company has fixed October 27 as record date for sub-division of every 1 equity share, with face value of Rs 10, each, be sub-divided into 10 equity shares, with face value of Re 1 each fully paid-up.
Shares of Yug Decor jumped 8.31% to settle at Rs 106.75. The company will turn ex-bonus today in the proportion of 15:100.
Glenmark Life Sciences shares shed 0.01% gains to close at Rs 617.05. The company said its Board of Directors will hold a meeting on October 9, 2023 to consider and declare payment of interim dividend, if any, on equity shares for the financial year 2023-24 (FY24). The record date for dividend payment will be October 17, 2023, Glenmark Life added.
Shares of Jubilant FoodWorks (operator of Domino's Pizza in India) fell 1.09% to settle at Rs 534.25. The company has clarified that it has not reduced the prices of large pizzas. "In the past, the company has run discounts on select large pizzas on specified cricket match days to enable and make celebrations of big groups even bigger. This offer has been run on certain days, and several iterations of various promotions will continue to be offered to consumers at different points in time," it stated.
Sheela Foam shares settled with 1.63% losses at Rs 1,108.70. The company has received a 'Show Cause Cum Demand Notice' from the Commissioner of GST Intelligence alleging a cumulative tax demand of Rs 40.52 crore. "The alleged demand and the impugned demand notice pertains to account of wrong availment of transitional input credit and other wrong availment of input tax credit of GST. The company will be filing appropriate response within the prescribed timelines," it said.
Technically, Nifty's biggest hurdles for Thursday's trading session is seen at 19,666 mark, while confirmation of strength can only be seen above the 19,900 mark, said Prashanth Tapse, Senior VP (Research) at Mehta Equities.
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