Top stocks to watch— Infosys, Future Enterprises, Bharti Airtel, Sterlite Technologies, SpiceJet, IndiGo, M&M and more

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Indian stock market is likely to open on a muted note tracking cues from the global peers. At 7:40 am, the SGX Nifty was trading 0.58% lower, indicating a cautious start for Nifty50.

However, the US stocks finished higher as Wall Street ahead of decision from the Federal Reserve meeting. The Dow Jones Industrial Average ended on a flat note, while the S&P 500 rose 0.52%.

Here’s a list of stocks to watch for in trade on September 16:

Infosys

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One of the largest publicly traded water, wastewater and natural gas providers in the US, Essential Utilities has selected Infosys as its strategic partner to drive its digital transformation.

The shares of Infosys closed 0.31% higher yesterday.

Bharti Airtel and Sterlite Technologies

Telecom giant Airtel has partnered with Sterlite Technologies to build an optical fibre network across 10 telecom circles.
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The densely fibered future-ready network will also form the foundation for many next-generation services such as 5G, Fibre to The Home (FTTH), Internet of Things (IoT) and enterprise networks, Sterlite said in a release.

The shares of Bharti Airtel and Sterlite Technologies closed 2% higher yesterday.

SpiceJet

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SpiceJet reported a net loss of ₹593.4 crore for the first quarter ended June 30. The company’s total revenue during the quarter declined 83% YoY to ₹4,83.24 crore compared to the same period last year.

In its quarterly filing, SpiceJet also stated that it is restructuring aircraft lease and renegotiating some of its current contracts to for long term saving impact on the cost front.

The shares of SpiceJet closed 0.47% lower yesterday.

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IndiGo

Aviation regulator DGCA has asked IndiGo and GoAir to fly only those aircraft that have modified Pratt and Whitney (PW) engines on them, said the civil aviation minister Hardeep Singh Puri.

The PW engine-powered A320 neo planes in IndiGo, and GoAir fleets have been facing glitches both mid-air and on-ground since their induction way back in 2016. Puri said on Twitter IndiGo has 134 A320neo, and A321neo aircraft and all of them have modified PW engines on them.

The shares of IndiGo closed 1.55% higher on Tuesday.
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Indiabulls Housing Finance

Indiabulls Housing Finance said Brickwork Ratings has assigned a short-term rating of A1 plus to the company, signifying the adequate degree of safety and low credit risk.

The rating agency has reaffirmed the long-term rating at AA-plus, suggesting a high degree of safety and very low credit risk, the company said in its regulatory filing.

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The shares of Indiabulls Housing Finance closed 1.95% lower on September 16.

Future Enterprises

Kishore Biyani led Future Enterprises reported a consolidated net loss of ₹322.92 crore for the quarter ended on June 30. Its revenue from operations was down 87.31% to ₹179.39 crore during the quarter under review.

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The shares of Indiabulls Housing Finance closed 4% higher on September 16.

IDBI Bank

According to news reports, the state-owned Life Insurance Corporation of India (LIC) is planning to sell its 51% stake in IDBI Bank in tranches. LIC bought 44% stake in IDBI Bank in January 2019 for ₹21,624 crore for saving the bank from collapse.

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The shares of IDBI Bank closed flat on September 16.

Mahindra and Mahindra

According to Korean news reports, Mahindra and Mahindra’s subsidiary SsangYong Motor was close to signing a binding investment agreement with a US-based HAAH Automotive Holdings.

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Mahindra had earlier said that it will not make any further investments in the loss making SUV-maker and wanted to give up its controlling stake.

Hexaware

Watch out for Hexaware in trade as the date for delisting has been extended by one more day. The delisting offer closes today.

The shares of Hexaware closed 6.25% higher yesterday.
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