Top stocks to watch in trade— HDFC Bank, Sun Pharma, HCL Tech, HAL, Bharat Forge, BHEL, Kotak Mahindra, IndusInd Bank, GMR Infra and more

• At 7:45 am, the SGX Nifty was up 1.04% at 8.72 points pointing towards a higher start for the Nifty50.
• Here’s a list of stocks to watch for in trade today.
• Check out the latest news and updates on Business Insider.

Amid positive cues from the global peers, Indian stock-market indices are likely to open in green on Friday. At 7:45 am, the SGX Nifty was trading 1.04% higher at 8.72 points, pointing towards a higher start for the Nifty50.

The Dow Jones Industrial Average rose 0.57% to close at 28,492.27 points, as investors parsed through the US Federal Reserve’s new policy strategy on inflation and a slew of key economic data.

These are the stocks to watch out for during the trading session on Friday:

Sun Pharma

Sun Pharmaceutical Chairman Israel Makov said the company is conducting clinical trials to test the effectiveness of many existing medicines in treating symptoms of COVID-19.

The shares of Sun Pharma ended over 2% higher on Thursday.

HDFC Bank, IndusInd Bank and Kotak Mahindra Bank

Global index provider FTSE Russell removed three lenders from its indices— HDFC Bank, IndusInd Bank and Kotak Mahindra Bank. The firm said the banks failed to meet minimum foreign headroom requirements.

The shares of HDFC Bank and Kotak Mahindra Bank ended nearly a percent lower on Thursday, whereas IndusInd Bank was up 7%.

HCL Technologies

HCL Technologies has set up its first European Cybersecurity Fusion Center in Sweden.

HCL Technologies’ Cybersecurity Fusion Center (CSFC) is a state-of-the-art security operation and response facility, integrating multi-domain security teams, processes and cutting-edge analytics - enabling organisations to detect threats faster and resolve incidents efficiently, the company said in a statement.

The shares of HCL Tech ended nearly 0.13% lower on Thursday.

NMDC

The state-owned NMDC reported over 54% fall in its net profit to ₹531.35 crore in the first quarter ended June 30, mainly on account of lower income due to COVID-19.

The shares of NMDC ended nearly 1% higher on Thursday.

Hindustan Aeronautics Limited (HAL)

The offer for sale (OFS) of Hindustan Aeronautics Ltd (HAL) was oversubscribed 1.6 times by non-retail investors. The government has decided to exercise the “green shoe” option. The “green shoe” refers to the option of over-allotment of shares.

The shares of HAL ended nearly 14% lower on Thursday.

Defence stocks in focus

Other defence stocks like Bharat Forge, BHEL and Bharat Electronics will also be in focus today. Prime Minister Narendra Modi stressed on the need for Atma Nirbhar Bharat in the defence sector. Some of the highlights from commentary include - opening up the foreign direct investment till 74% through automatic route, and expanding the list for defence imports.

IDFC Bank

IDFC Bank reported a consolidated net loss of ₹26.46 crore for the quarter ended June 30. The consolidated total income fell to ₹103.99 crore during the period, as against ₹133.04 crore in the same quarter last year.

The shares of IDFC ended nearly 2% lower on Thursday.

Allcargo Logistics

The board of directors of Allcargo Logistics considered voluntary delisting of shares proposal in a meeting yesterday. The company has appointed Inga Ventures as a merchant banker. The company in a stock-exchange filing said the board would meet again to discuss the delisting proposal in detail, after receipt of the due diligence report from the Merchant Banker.

The shares of Allcargo Logistics ended nearly 4% lower on Thursday.

GMR Infra

GMR Infrastructure has decided to restructure its business. In a 'scheme of arrangement' involving vertical split demerger of the non-airport business — these include energy, urban infrastructure and EPC services - will be split into GPUIL. The airport business will be listed separately.

The shares of GMR Infra ended 0.19% higher on Thursday.