Stocks to Watch: Hero Moto, Adani Enterprises, Zydus Life, Vodafone Idea

The Sensex and Nifty indices are likely to start Friday’s session in the red amid weak global cues. At 07:30 am, the SGX Nifty quoted at 16,780, indicating an opening loss of around 50 points on the Nifty index.

The Reserve Bank of India’s rate hike decision will sway the market trajectory today. The bank is expected to rise rates by at least 50 basis points.

Globally, all Asian indices traded lower this morning after US markets fell overnight. The S&P 500 dropped 2.11 per cent, Nasdaq declined 2.84 per cent, while the Dow shed 1.54 per cent.

That said, here are some stocks to watch out for in trade today:

Rate sensitives: Banks, financials, realty, and auto sector stocks will be among those that may see decisive swings today after the RBI’s rate hike outcome.

Hero MotoCorp: The company said it will invest USD 60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles. The country’s largest two-wheeler maker said it is finalising a collaboration agreement with the California (US)-based manufacturer of premium electric motorcycles and powertrains. Read more

Adani Enterprises/Shree Cement: With effect from Friday, the Adani group flagship company will replace Shree Cement in the Nifty50 index.

Besides, the former has secured finances for a part of the Meerut-Prayagraj Ganga Expressway project nine months after winning the contract, it said on Thursday. Read here

Reliance Industries: The company’s arm Reliance Retail plans to open multi brand stores in tier II and tier III towns but for mass priced brands as it gets aggressive to expand in the category, according to a Business Standard report. Read here

Zydus Lifesciences: The US FDA has issued 2 observations for Zydus Animal Health & Invsts Ahmedabad unit. The regulator had conducted an inspection at the facility from Sep 23 to Sep 29.

Bajaj Electricals: The company has bagged an order worth Rs 332.6 cr from Power Grid.

Lupin: The pharma company has received approval from the United States Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA), Mirabegron extended-release tablets, to market in the US.

Ircon International: The public sector enterprise has completed commissioning of doubling work of Hajipur- Bachhwara of 72 route Km including electrification.

Rail Vikas Nigam: The company has received contract for construction of 4 lane highway from Samarlakota to Achampeta Junction, from National Highways Authority of India (NHAI). The contract is worth Rs 408 crore.

Punjab National Bank: The lender will sell its entire stake in Asset Reconstruction Company (India), that is 10 per cent of the entire shareholding of the latter.

Coforge: The company has received a US patent for its Copasys automated compliance audit and quality assurance platform , which is built for banks and financial institutions.

Adani Power: The CCI has approved the acquisition of 100 per cent equity of Diliigent Power and DB Power by the company.

Vodafone ldea: In response to a clarification sought by the exchanges on reports of Indus Towers seeking payment of dues to continue services, the company said that discussions are going on over softer payment terms and are yet to be concluded.

Adani Green: The company has commissioned a wind-solar power plant of 600MW capacity in Jaisalmer, Rajasthan.