Sensex, Nifty Poised For A Cautious Start; Vodafone Idea, Vedanta, Lupin, Ceigall, Marico, AB Lifestyle Stocks Are In Focus

Indian equity markets are set for a tepid opening on Monday, with the Gift Nifty, an early indicator for the Nifty 50 index, edging 0.04% higher to 24,960 at 8:15 a.m. IST.

The markets ended higher last week, with strong buying across metals, PSU Banks, and consumer durables stocks. 

Asian markets were mixed in morning trade. However, Japan’s benchmark Nikkei 225 index surged over 4.5% to hit a record high after the ruling party elected an ultra-conservative leader, poised to become the country’s first woman prime minister.

At the time of writing, the gold spot price was up 0.95% at $3,920.57 per ounce, while Brent crude traded up 1.39% at $65.43 per barrel.

Stock Watch

Vodafone Idea: Appointed Tejas Mehta as its new Chief Financial Officer, following the completion of Murthy GVAS’s tenure. Also, the Supreme Court hearing on the AGR case is scheduled for today. 

Infosys: Announced a partnership with Telenor Shared Services (TSS) to implement Oracle Cloud HCM, aiming to standardise HR processes and enhance employee productivity and experience.

Aditya Birla Lifestyle Brands: Flipkart Investments is reportedly planning to sell up to 6% of its stake in Aditya Birla Lifestyle Brands via a block deal worth around $112 million.

Lupin: The US FDA has classified the inspection of Lupin’s Pithampur Unit-2 as Official Action Indicated (OAI) after finding four observations; the company is working to resolve the issues. Additionally, Lupin launched Liraglutide injection, bioequivalent to Victoza, in the US to aid glycemic control in adults.

Ceigall India: Secured two Letters of Award worth ₹712.16 crore and ₹597 crore from Maharashtra State Electricity Distribution Company to develop 190 MW and 147 MW solar projects under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.

Force Motors: Force Motors reported a 1.79% year-on-year increase in total sales to 2,610 units in September, compared to 2,564 units a year earlier.

Allcargo Logistics: Its subsidiary ALX Shipping Agencies India has filed a complaint with the Mumbai Economic Offences Wing seeking action against ALX’s CEO and a customer’s promoter over alleged misconduct.

MOIL: Recorded its highest-ever September production at 1.52 lakh tonnes, up 3.8%.

Vedanta: In Q2, Vedanta’s aluminium production rose 1% year-on-year to 6.17 lakh tonnes, while saleable zinc output declined 6% to 2.46 lakh tonnes. Zinc International production surged 38% to 60,000 tonnes, but silver output dropped 22% to 1.44 lakh tonnes.

Hindustan Zinc: The company’s mined metal production increased 1% to 2.58 lakh tonnes, while saleable metal output fell 6% to 2.46 lakh tonnes. Refined zinc production grew 2% to 2.02 lakh tonnes, but refined lead output slumped 29% to 45,000 tonnes.

Marico: Marico reported stable demand trends through most of Q2 and expects consumer sentiment to improve during the festive season. About 30% of its India business benefited from GST rate cuts, while foods and premium personal care segments continued to scale rapidly. International business maintained strong momentum with constant currency growth in the twenties, driving consolidated revenue growth in the thirties and modest YoY operating profit growth.

Canara Bank: Canara Bank announced that Canara HSBC Life Insurance’s ₹23.75 crore IPO will open on October 10, followed by Canara Robeco AMC’s ₹4.98 crore IPO on October 9; the bank holds a 51% stake in each firm.

Mainboard Listing

Pace Digitek

Active IPOs

Tata Capital, Wework

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