Top stocks to watch— Tata Consumer, TCS, GAIL, Divi's Laboratories, SBI Life Insurance, ONGC, M&M, RITES and others

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The Indian stock market is likely to open in green on Friday, amid positive cues from the global market. At 7:45 am, the SGX Nifty was up 0.67% pointing towards a higher start for Nifty50.

In global markets, the US stocks gained on back of strong housing data and as revival of stimulus talks overshadowed the COVID-19 concerns. The Dow Jones Industrial Average ended up 0.20% higher, and the S&P 500 gained nearly 10 points towards the end of trading.

These are the stocks to watch out for during the trading session on September 25:

Tata Consumer Products

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According to media reports, the consumer arm of Tata Group, Tata Consumer Products is planning to bid for the vending machine business of Coffee Day Enterprises. The reports claim that the board of Tata Consumer had approved the proposal to explore an acquisition of the operation from Coffee Day.

The shares of Tata Consumer Products ended 2% lower yesterday.

Shriram City Union Finance

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India’s central bank, RBI has levied a ₹5 lakh penalty on the Chennai-based Shriram City Union Finance for non-compliance with its directions on verification of the ownership of gold jewellery contained in NBFC.

The shares of Shriram City Union Finance ended 3% lower yesterday.

Mahindra and Mahindra

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Anand Mahindra-led automotive major, Mahindra & Mahindra (M&M) bought more shares in Finland-based harvester maker Sampo Rosenlew Oy. M&M had picked up a 35% stake in the Finnish firm in 2016 before raising it to 49.1% over the next four years, and now it has spent ₹18 crore to increase its stake to 74.97% stake in the firm.

The shares of M&M ended 5% lower yesterday.

GAIL and ONGC

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GAIL (India) has cut supplies by about 40% to customers, mainly power and fertiliser companies, after a pipeline rupture led to a fire in an ONGC’s Gujarat plant. GAIL in a statement said “about 30 mmscmd of natural gas supplies into its north-western pipeline network (HVJ system) was immediately shut-off” following the fire.

The shares of GAIL and ONGC ended 4% and 3% lower, respectively, yesterday.

Tata Consultancy Services (TCS)

Tata Consultancy Services (TCS) said it has been hired as a digital transformation partner by women fashion retail chain Maurices. TCS will help the company build its greenfield IT ecosystem with the intent of optimising its 200 existing applications and software components within the next 17 months.
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The shares of TCS ended 6% lower yesterday.

RITES

The engineering consultancy company, RITES has bagged a ₹206 crore contract to construct four roads over bridges in Andhra Pradesh from Indian Railways.

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“RITES Ltd has been awarded a turnkey contract for construction of (ROBs) in replacement of existing level crossings on competition basis from Railway Board amounting to Rs 205.85 crore,” the company said in a statement.

The shares of RITES ended 1.3% lower yesterday.

Marico

The FMCG major Marico said it has divested its entire stake in the fitness app Revolutionary Fitness (Revofit).
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The shares of Marico ended 1% higher yesterday.

Divi's Laboratories and SBI Life Insurance

Divi's Laboratories and SBI Life Insurance will replace Bharti Infratel and Zee Entertainment Enterprises on the Nifty 50 benchmark index today. The shares of Divi's Laboratories ended 4% lower yesterday, while SBI Life was down 5% on NSE.

SEE ALSO: Sensex down 7% this week, sees the second-worst fall this year— these are the reasons behind the sell-off

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