Top stocks to watch— Infosys, Bharti Airtel, Vodafone Idea, Hero MotoCorp, TVS, ONGC, V-Mart, Embassy Office Parks REIT and more
- At 7:30 am the SGX Nifty was trading 0.11% higher pointing towards a cautious but a positive start for Nifty50.
- Here’s a list of stocks to watch for in trade today.
- Check out the latest news and updates on Business Insider.
On Tuesday, US stocks ended higher, fuelled by a rally in tech-related names. The Dow Jones Industrial Average jumped 0.76%, to close at 28,645.66 points. The S&P 500 also rose 0.75%.
Here’s a list of stocks to watch for in trade on September 2:
The IT major Infosys said it has plans to hire 12,000 workers in America over the next two years. This takes the company’s hiring commitment in the country to 25,000 over the next five years. In 2017, Infosys committed to hiring 10,000 American workers over two years and created 13,000 jobs in the US till date.
The shares of Infosys closed 1.15% lower on September 1.
Watch out for telecom stocks in trade today as well post the AGR verdict. Bharti Airtel has witnessed some brokerage action. Julius Baer has initiated coverage with the ‘Buy’ call and target at ₹ 650.
The shares of Airtel closed 7% higher on September 1.
The board of Vodafone Idea will meet on September 4 to discuss fund raising.
The shares of Vodafone Idea cracked 13% in trade yesterday.
Indian Oil Corp
The state-owned Indian Oil said the board had approved an investment of ₹1,268 crore for setting up a needle coker unit at its Paradip refinery in Odisha. With the production of CNC, Indian oil will enter this niche product segment for the first time.
Advertisement“The proposed unit will have a Calcined Needle Coke (CNC) production capacity of 56-kilo tonnes per annum. The estimated project cost is Rs 1,268 crore,” IOC said in a statement.
The shares of Indian Oil Corp closed 0.87% lower on September 1.
AdvertisementV-Mart informed stock-exchanges that its board is scheduled to meet September 5 to consider and approve the matter related to raising funds.
The shares of V-Mart closed 4% lower yesterday.
Hero MotoCorp, TVS and other auto stocks
AdvertisementThe shares of Hero MotoCorp, TVS and other auto stocks might react to the sales number posted by these companies. According to the stock exchange filing, Hero reported nearly 8% growth whereas TVS saw a 1% decline in its overall sales.
The shares of Hero and TVS closed 0.30% lower and 2% higher, respectively.
Embassy Office Parks REIT
AdvertisementEmbassy Office Parks REIT approved the issuance of NCDs up to ₹15 billion rupees in one or more tranches. The non-convertible debenture is unsecured bonds that cannot be converted to company equity.
The shares of Embassy Office Parks REIT closed 0.16% higher.
The state-owned ONGC reported a net loss of ₹3,098 crore in the first-quarter ended June 30. The company’s overall revenue was down 40%.
The shares of ONGC closed 2.87% lower on September 1.
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