Trading Radar For September 24: Swiggy, Akzo Nobel, Dilip Buildcon, Lemon Tree, Torrent Stocks Are On Investors’ Watchlist

Indian equity markets ended lower for a third consecutive session on Tuesday, dragged down by IT stocks, as the sector continued to see strong selling following US President Donald Trump's announcement of a $10,000 increase in the fee for H1B visas.

Gains in metals, financials, and autos were offset by losses in FMCG and real estate stocks. 

Broader markets are set for a weak opening on Tuesday, as Gift Nifty, an early indicator for the Nifty 50 index, edged 0.15% lower to 25,176 at 8:30 a.m. IST.

Apart from the Hong Kong Stock Exchange, all major Asian markets were down in morning trade, with the bourses in South Korea and Australia leading the declines. Gold spot price gained 0.4% to ₹3,755.39 per ounce, while Brent crude traded up 0.21% at $67.77 per barrel.

Stock Watch                                                                                      

Swiggy: The Board approved the sale of Rapido shares to Prosus-owned MIH Investments One B.V. for ₹1,968 crore and to Setu AIF Trust for ₹431.5 crore; it also cleared the transfer of Instamart to a wholly owned subsidiary through a slump sale.

Akzo Nobel India: Promoter Imperial Chemical Industries is likely to sell up to 5% stake via block deals worth ₹742.7 crore at a floor price of ₹3,261.80 per share.

Dilip Buildcon: Through DBL-PSP JV, the company emerged as the L-1 bidder for a ₹1,115.37 crore EPC project in Kerala’s Palakkad Node under the Industrial Corridor Development Corporation.

HCL Technologies: The IT major renewed its digital transformation partnership with a Sweden-based commercial vehicle maker, focusing on AI-powered foundation services.

Torrent Power: The company acquired 49% in Newzone India and 100% in Newzone Power Projects for ₹211 crore, consolidating full ownership of NZIPL.

Bajaj Electricals: The Board approved the acquisition of the ‘Morphy Richards’ brand and IP rights for ₹146 crore across South Asian markets.

Karur Vysya Bank: Files writ petitions with the Madurai Bench of the Madras High Court against income tax reassessment proceedings.

Puravankara: Group CFO Deepak Rastogi resigned, with Niraj Kumar Gautam replacing him.

VIP Industries: MD Neetu Kashiramka resigned, with Atul Jain replacing her.

Gandhar Oil Refinery: The company plans to terminate licenses and wind up its 50% JV Texol Oils FZC in Sharjah.

Poly Medicure: Subsidiary RisoR Holdings B.V. completed the acquisition of PendraCare Group, giving Poly Medicure 90% economic rights.

Torrent Pharmaceuticals: South Africa’s competition watchdog approved its acquisition of JB Chemicals & Pharmaceuticals from KKR.

Lemon Tree Hotels: The chain signed two new properties under its Keys brand in Varanasi and Rewa.

Ceinsys Tech: The company won a ₹15.95 crore, four-year LoA from MMRDA for ESRI ArcGIS software procurement and support.

Sudarshan Chemical Industries: Q1 consolidated profit jumped 87% to ₹55 crore from ₹29.4 crore, while revenue surged 296% to ₹2,506.9 crore versus ₹633.6 crore.

Active IPOs

Seshaasai Tech, Atlanta Electricals, Ganesh Consumer Products, Jaro Institute of Tech Management and Research, Solarworld Energy Solutions, Anand Rathi Share and Stock Brokers, Jain Resource Recycling, BMW Ventures, EPack Prefab Tech

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