Indian stock market is likely to open on a negative note amidst weak cues from global peers. At 7:50 am the SGX Nifty was trading 0.92% lower pointing towards a red start for Nifty50.
On Thursday, US stocks plunged, as a steep sell-off in tech shares dragged down the market. Dow Jones Industrial Average closed 2.78% lower. The Nasdaq Composite Index sank 4.96%.
Here’s a list of stocks to watch for in trade on September 4:
Vodafone-Idea
After news reports surfaced suggesting that Verizon and Amazon may invest over $4 billion in the company, Vodafone Idea clarified to its investors, while it constantly evaluates various opportunities as part of corporate strategy, there is no such proposal currently before its board.
The VIL filling came after BSE sought clarification from the company on Thursday over a
media report suggesting that Verizon and Amazon could invest over $4 billion in Vodafone Idea. The board will also meet today to consider a fundraising proposal.
The shares of Vodafone-Idea ended 29.80% higher yesterday.
Hindustan Aeronautics Limited
State-owned HAL has proposed to offer 5.02 lakh shares to the eligible employees of the company at ₹950.95 per share. The sale of shares will remain open from September 4 to 9.
The shares of HAL ended 4% higher on September 3.
Infosys IT services major Infosys is all set to acquire US-based product design and development firm Kaleidoscope Innovation for up to $42 million.
Kaleidoscope Innovation designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables.
The shares of Infosys ended 1.21% higher on September 3.
ICICI Bank, IndusInd Bank, Axis Bank, SBI and other banking stocks
The shares ICICI Bank, IndusInd Bank, Axis Bank, SBI and other Banking stocks might react to the apex court decision today. The Supreme Court of India has adjourned hearing in the loan moratorium case till September 10. The court directed that accounts, which were not declared as non-performing assets till August 31 this year, shall not be declared NPA till further orders.
The shares of ICICI Bank, IndusInd Bank, Axis Bank, SBI ended nearly 2% lower on September 3.
Future Retail
The stock-exchanges revised Future Retail price band from 10% to 5%. The shares of Future Retail closed after hitting a 10% lower circuit in the past two days.
The company is also slated to report its first quarterly earnings today.
Tata Motors
Government-owned Energy Efficiency Services has placed an order to procure 250 electric vehicles from Tata Motors and Hyundai Motor India. Tata Motors will supply 150 Nexon XZ+ electric compact SUVs for the government use.
EESL will procure Tata Nexon at ₹14.86 lakh each, ₹13,000 cheaper than its ex-showroom price.
The shares of Tata Motors ended nearly 1% higher yesterday.
Jubilant Industries
Jubilant Industries reported a net loss of ₹3.1 crore in the first quarter ended June 30 as against a profit of ₹9.6 crore in the same quarter last year. The revenue declined to ₹94.3 crore as compared to ₹151.8 crore in the same period last year.
The shares of Jubilant Industries ended nearly 3% higher on September 3.
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