On Friday, September 13, 2024, the Indian stock markets are expected to open on a muted to slightly positive note, as indicated by the GIFT Nifty futures, which were trading 30 points higher than the previous close. This follows the release of marginally higher inflation and manufacturing activity figures late on Thursday. As of 6:55 AM, GIFT Nifty futures were at 25,387, hinting at a potential upside for benchmark indices at the market’s open.
Despite Thursday’s rally, Asia-Pacific markets fell on Friday, ending the week on a mixed note. Japan’s Nikkei 225 declined by 0.43%, while the broader Topix was down by 0.58%. South Korea’s Kospi remained flat, while Australia’s S&P/ASX 200 was an outlier, gaining 0.75% and nearing its all-time high. Futures for China’s CSI 300 showed a slight recovery, standing at 3,176 after closing near a six-year low.
Here are some of the key stocks likely to be in focus today:
Indus Towers and Data Infrastructure Trust
Data Infrastructure Trust (DIT), backed by Brookfield Asset Management, recently acquired American Tower Corporation’s operations in India, making it the largest mobile tower company in the country. The acquisition, valued at approximately $2.2 billion, includes around 76,000 telecom sites, bringing DIT’s total portfolio to 257,000 sites. This acquisition positions DIT ahead of Indus Towers, which has long been the industry leader. The deal could generate significant attention from investors in both telecom and infrastructure sectors, as DIT rebrands itself as Altius.
Hindustan Aeronautics Limited (HAL)
Hindustan Aeronautics Limited (HAL) is expected to be upgraded from Navratna to Maharatna status by the end of 2024. This promotion will grant HAL greater financial and operational autonomy, allowing it to invest up to ₹5,000 crore in projects without government approval. HAL has been on a growth trajectory, achieving a record profit of ₹4,000 crore in Q4 FY24. This upgrade will enable HAL to pursue larger projects and expand its international footprint, which will likely attract investor interest.
Adani Group
The Adani Group clarified on Thursday night that it is not involved in any Swiss court proceedings, contrary to allegations from Hindenburg Research. The group addressed claims that Swiss authorities had frozen over $310 million of its assets as part of an investigation into money laundering and securities forgery. The clarification could ease some of the market concerns surrounding the conglomerate, following a period of heightened scrutiny after the Hindenburg report.
Puravankara
Real estate firm Puravankara has entered the luxury market with the acquisition of redevelopment rights for Miami Apartments in Breach Candy, South Mumbai. Additionally, the company has expanded its footprint in Lokhandwala, Andheri West, and signed a Joint Development Agreement for a land parcel in Bengaluru’s Electronics City. These expansions could position Puravankara as a key player in India’s luxury and premium real estate market, making it a stock to watch in the property sector.
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Bharti Airtel
Bharti Airtel has announced a partnership with Sparkle to acquire additional capacity on the Blue-Raman Submarine Cable System, enhancing its connectivity between Asia and Europe. This move is part of Airtel’s broader strategy to diversify its network infrastructure and meet growing data demands in the digital economy. Airtel’s stock could benefit from this international expansion and increased focus on its core business.
IRCTC and LIC
Life Insurance Corporation (LIC) has increased its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to approximately 9.3%, up from 7.28%, through open market purchases. LIC’s increased holdings in IRCTC reflect strong confidence in the company, which could draw attention from retail investors.
HDFC Bank
HDFC Bank is in talks with global financial institutions to offload up to ₹8,400 crore in loans. This strategic move aims to improve its credit-to-deposit ratio and align its credit book with deposit levels. Investors will likely monitor the outcome of these negotiations, as it may influence the bank’s stock performance in the near term.
Indian Hotels Company (IHCL)
IHCL has announced plans to develop two new hotels under the Vivanta and Ginger brands in Chennai’s Mahindra World City. Catering to both business and leisure travelers, these new developments signify the company’s ongoing expansion in the hospitality sector, particularly in southern India.
SpiceJet
SpiceJet has approached the Supreme Court to contest a Delhi High Court order grounding three of its leased engines. The airline is seeking additional time to clear outstanding dues and plans to raise significant funds to address its financial challenges. Investors will keep a close watch on the court proceedings, as a favorable outcome could stabilize SpiceJet’s operations.
Paytm
Paytm is focusing on its core payments business and expects to achieve profitability soon, according to CEO Vijay Shekhar Sharma. The company is also applying for a payments aggregator license and leveraging advanced technologies, including artificial intelligence, to enhance its services.
Honasa Consumer
Peak XV Partners, Sofina Ventures, and Stellaris Venture Partners sold a combined 7.94% stake in Honasa Consumer, the company behind Mamaearth, for ₹1,276 crore. The shares were sold at ₹495 each, signaling continued interest from new investors.
Marico
Marico reported strong domestic growth, with a 6.7% increase in revenue and an 11.5% rise in net profit for Q1 FY25. Despite concerns over its exposure to Bangladesh, the company’s focus on expanding its food business and adjusting pricing strategies has helped maintain profitability.
As the markets open today, these stocks are likely to see heightened activity and investor focus. Keep an eye on market trends and developments as they unfold.
