Cement News

Stocks to Watch: Suzlon, RIL, ONGC, Gas, Airtel, HFCL, Adani Enterprises



Stocks to Watch Today: The markets are likely to trade this week on a dismal note, as global cues continue to remain extremely bearish. At 07:00 AM, the SGX Nifty futures quoted at 16,870, indicating a huge gap-down of over 200 points on the Nifty 50 benchmark.


Meanwhile, following are the stocks that are likely to some action in trades on Monday.


ONGC, Reliance: At its sixth fortnightly review, the government reduced the tax on domestically-produced crude oil to Rs 8,000 per tonne from Rs 10,500 per tonne. The levy on the export of diesel was reduced to Rs 5 per litre; and the tax of Rs 5 a litre on Aviation Turbine Fuel (ATF) exports was scrapped with effect from October 2.


Gas distribution firms: Shares of Gujarat Gas, Indraprastha and likewise are likely to be in focus after the government raised prices of natural gas by 40 per cent to record levels. The move shall lead to a steep increase in CNG, and piped natural gas (PNG) prices, which in the last one year have risen by over 70 per cent. READ MORE


Telecom: Prime Minister Narendra Modi on October 1 launched the 5G services in India. Among telecoms Bharti Airtel became the first company to launch its 5G services in 8 Indian cities. Reliance Jio expects to begin 5G services by December 2023, while Vodafone Idea has so far not specified the launch date, but expects to roll-out soon.


Adani Enterprises: Two entities of Adani Enterprises — Adani Road GRICL and Adani Road STPL – will together raise up to Rs 800 crore through non-convertible debentures (NCDs) buy road projects from Macquarie Asia Infrastructure Fund (MAIF).


Reliance Industries: The Mukesh Ambani-led firm’s telecom arm plans to launch a budget laptop priced at Rs 15,000 with an embedded 4G SIM card, according to sources. READ MORE


Suzlon Energy: The company’s founder, chairman and managing director, Tulsi Tanti, also known as the wind man passed away at the age of 64 on Saturday. The stock will be traded ex-rights price today. READ MORE


HDFC: The mortgage lender hiked its lending rate by 50 basis points soon after the Reserve Bank raised the benchmark interest rate. This is the seventh rate increase undertaken by HDFC in the last five months.


Real-estate stocks: The recent 50 bps rate hike and the fourth since April 2022 shall hamper the housing sector demand, say industry experts. Residential sales which almost doubled in the first half of FY23 are expected to slow down following these subsequent hikes as home loan interest rates may go up. READ MORE


HFCL: According to a release issued by the company to the exchanges, in its bid to accelerate rollout of 5G solutions and services by telecom players, the company has launched 5G Lab-as-a-Service.


Sterlite Technologies: The company on Sunday launched India’s first Multicore fibre and cable. This breakthrough innovation will change the optical connectivity landscape of India. The product is expected to play a vital role in 5G scale up.


UltraTech, India Cements: The Aditya Birla group flagship UltraTech Cement is leading the race to acquire India Cements’ project in Madhya Pradesh valued at Rs 800 crore. JSW Cement is the other contender. READ MORE


Mphasis: The Bengaluru-based IT firm, plans to create 1,000 jobs in the northern England region of West Yorkshire.


McLeod Russel: Amid the takeover bid, the company’s management is expecting banks to support its debt restructuring plan, which is awaiting clearances from credit rating agencies. CMD Khaitan says banks have been very supportive and have come to a conclusion on the likely debt restructuring resolution.



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