Overnight Digest: Keep a watch on these stocks for September 23
On Wednesday, Sensex and Nifty ended marginally lower at 58,927.33 level which is 0.13 per cent down and 17,546.70 level which is 0.09 per cent down, respectively. On the sectoral front, the realty index caught the limelight by climbing beyond 8 per cent whereas apart from bank and FMCG, all other indices settled in green. The broader markets witnessed a 1.51 per cent and 1.19 per cent rise in BSE Midcap and BSE Smallcap indices.
Following stocks are likely to be in focus on Thursday:
Axis Bank - The country's third-largest private sector lender, Axis Bank has committed Rs 30,000 crore lending till the fiscal year 2025-26 under the ambit of its sustainable financing framework. These commitments are in line with the Sustainable Development Goals (SDGs), as India’s commitments under the Paris Agreement. The stock traded flat on Wednesday and is likely to be in focus on Thursday.
Torrent Power - On Tuesday, the company had announced the share purchase agreement with CESC Limited, Haldia Energy Limited and other nominal shareholders for the acquisition of 100 per cent of the share capital of Surya Vidyut Limited (the SPV), a wholly-owned subsidiary of CESC Limited. Surya Vidyut operates 156 MW Wind power plants, spread across the states of Gujarat, Rajasthan and Madhya Pradesh. The acquisition has an enterprise value of about Rs 790 crore, subject to closing price adjustments. Despite this news, the stock has traded flat on Wednesday. Hence, it is likely to be in focus on Thursday.
Federal Bank - On Wednesday, the bank announced a strategic alliance with OneCard and launched a mobile-first Credit Card that aims to provide a seamless digital experience to the young, tech-savvy population across the country. With this launch, the bank will target the young working professionals between 23-35 years, primarily representing the millennials and Gen Z. The co-branded card powered by the slick, smart OneCard app will give the customer full control of their credit card - spends, rewards, limits, payments and more, thereby minimizing human intervention. This stock traded in green and was up by 1.5 per cent on Wednesday. Keep a watch on this stock on Thursday.
Indiabulls Housing Finance - The stock zoomed up to 6 per cent in Wednesday's trading session on the back of the announcement of raising USD 165 million by issuing foreign currency convertible bonds (FCCBs). After forming a bearish pattern with consecutive red candles for the past three trading sessions, the stock has formed a green candle in Wednesday's trading session. It is likely to be on investors radar for further trading sessions.
ITC - On Wednesday, the stock of the biggest cigarette and second-largest Fast Moving Consumer Goods (FMCG) company, ITC's market capitalization returned to Rs 3 trillion mark. The stock hit its 21-month high price on the bourses and was trading at its highest level since December 2019. It is likely to be in focus on Thursday.