Indian stock market is likely to open on a negative note amidst weak cues from Asain peers. At 7:50 am the SGX Nifty was trading 1.04% lower pointing towards a red start for Nifty50.
The Hang Seng Index of the Hong Kong stock market was also trading 0.21% lower on September 7.
Here’s a list of stocks to watch for in trade on September 7:
Vodafone Idea
Vodafone Idea is slated to make a strategic announcement through the virtual press conference at 11:45 am today. R
eports indicate that the company may announce a combined brand identity as presently; the organization has been advertising the two brands separately.
The board of the cash-strapped telecom
company also approved a fundraising plan to raise ₹25,000 crore.
The shares of Vodafone Idea ended 3% lower on Friday.
Future Retail
On Friday, post-market hours owner of Big Bazaar and fbb, Future Retail reported a consolidated net loss of ₹477.63 crore for the fourth quarter ended March 31.
The company’s revenue from operations plummeted 17.75% to ₹4,492.36 crore during the quarter under review.
The shares of Future Retail ended 5% lower on September 4.
Allcargo Logistics
The board of Allcargo Logistics has approved the delisting proposal of company shares. The company has set the delisting floor price at ₹92.58 per share.
The shares of Allcargo Logistics ended 2% lower on September 4.
CG Power
The power generation giant CG Power has temporarily suspended operations at its Mandideep manufacturing unit. It cited reasons of torrential rain in the area on August 29 and 30.
The company is also slated to report its first quarterly earnings today. The shares of CG Power ended 5% higher on Friday.
Happiest Minds Ashok Soota backed Happiest Minds Tech IPO will be opening today. The company has fixed the issue price band at ₹165-166 per equity share.
The company has already raised ₹316 crore from anchor investors like the Government of Singapore, Nomura Funds and Aditya Birla Sun Life Mutual Fund.
IndiGo and SpiceJet
The India civil aviation regulator DGCA in response to the Supreme Court proposed that the airlines should provide a full refund immediately for the tickets booked during the COVID-19 lockdown.
The shares of IndiGo ended 2% lower on September 4. Whereas SpiceJet was up 3%.
RIL
Mukesh Ambani owned Reliance Industries has released
information related to hiving off its oil-to-chemicals business into a separate entity. This came six months after the company first announced this proposal as a precursor to a stake sale.
The company said that the segment’s assets and liabilities would be transferred to a new and separate unit of RIL.
The shares of RIL ended 2% lower on September 4.
Maruti Suzuki, Hero MotoCorp, TVS, Tata Motors, Bajaj Auto and other Auto stocks
The road transport and highways minister Nitin Gadkari on Saturday said the much-awaited vehicle scrappage policy is in its final stages of approval and the policy will be rolled out by the end of this month.
This news may move the auto stocks, which have been patiently waiting for the policy for years.
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