Indian stock market is likely to tread lower amidst negative cues from global peers. At 7:50 am the SGX Nifty was trading 0.82% lower pointing towards a cautious start for Nifty50.
On Tuesday, the US stocks also plunged as investors continued to rotate out of the tech sector. The Dow Jones Industrial Average ended 2.25% lower. And, the S&P 500 sank 2.7% towards the end of trading.
Here’s a list of stocks to watch for in trade on September 9:
Wipro
The IT major Wipro yesterday announced its plans to set up a digital innovation hub at Dusseldorf in Germany. The company said that it would serve as its major’s flagship centre in Europe.
The proposed Digital Innovation Hub will offer digital transformation expertise to companies in Germany, enabling organisations to cross skill and upskill besides supporting talent development in local communities, the company said in a statement.
The shares of Wipro ended 1.2% higher yesterday.
Astrazeneca
The last-stage studies of Astrazeneca COVID-19 vaccine are on a temporary hold as the company is investigating if the patient who suffered serious side effects had anything to do with their vaccine trial shots.
The shares of Astrazeneca ended 1% higher yesterday.
Oil, paint and aviation stocks will be in focus
Brent crude slips below $40 for the first time since June 30. This may come as good news for paint manufacturers and airlines industry.
Taking this into account the shares of listed aviation giants like IndiGo, SpiceJet and paint manufacturers like Asian Paints, Berger Paints may react during the trade today.
IDBI Bank
IDBI Bank sold the remaining 1 million shares amounting to 0.21% stake in the National Stock Exchange of India. When LIC acquired 51% stake in IDBI Bank, the shareholding threshold in NSE was breached as both LIC and IDBI held stake in NSE before that.
The shares of IDBI Bank ended 1.3% lower yesterday.
TeamLease Services
The Bengaluru based recruitment service provider TeamLease Services increased its stake from 40% to 76.37% in the edu-tech company Schoolguru.
The shares of TeamLease Services ended 3% lower yesterday.
Future Consumer
Kishore Biyani owned Future Consumer reported ₹68.4 crore loss for the first quarter ended June 30. The overall revenue was down 63.7% to ₹380.5 crore.
Enam Finance also sold 1 crore shares of the company at a floor price of ₹10.13 per share.
This may also move other Future Group subsidiaries such as Future Lifestyle Fashions, Future Enterprises, Future Retail, among others.
The shares of Future Consumer ended 3% lower yesterday.
Reliance IndustriesRIL-owned Jio is looking to manufacture over 100 million low-cost smartphones on the Google platform. According to
reports, the phones will be bundles with data packs and may launch in December next year.
The shares of RIL ended 1% higher yesterday.
Bharat Dynamics
The ₹900 crore offer for sale of the government shares in Bharat Dynamics received an overwhelming response on day one and was subscribed 1.40 times by non- retail investors.
The Union government is selling over 2.74 crore shares of the company at a floor price of ₹330 apiece.
The shares of Bharat Dynamics ended 14% lower yesterday.
Happiest Minds Tech IPO ends today
Today is the last date to subscribe to Happiest Minds Tech ₹702 crore IPO. The IPO was 8.3 times subscribed at the end of Day 2.
Route Mobile IPO opens today
Route Mobile, a cloud communications service provider IPO, will be open for subscription today. The company is looking to raise ₹ crore through this IPO and has fixed the price band at ₹345-350 per share.
Ahead of the IPO, the company has garnered ₹180 crore from 15 anchor investors. The list includes Goldman Sachs, Franklin Templeton Mutual Fund, Kuwait Investment Authority, Vantage Equity Fund, SBI Life Insurance, Axis Mutual Fund among others.
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