Today Market Update: These 10 shares can Big Move today, keep an eye out for big profits
The Indian stock market is open positively, with the Sensex and Nifty indices likely to gain momentum. According to signals from the GIFT Nifty, the Nifty index is poised to start trading with an increase of approximately 52 points. This optimistic outlook sets the stage for a busy trading day, particularly for certain stocks that are making headlines due to recent developments.
Main Points
Key Stocks to Watch Today
1. Religare Enterprises
Religare Enterprises is in the spotlight as the Enforcement Directorate (ED) has filed a complaint against its executive chairperson, Dr. Rashmi Saluja, along with other senior officials. The ED alleges their involvement in a conspiracy to falsely accuse the Burman family, the promoters of Dabur Group, of financial misconduct. This case has escalated tensions within the company, impacting its stock performance. The Delhi High Court is set to hear the case on October 23, which could further influence investor sentiment.
2. Zaggle Prepaid Ocean Services
Zaggle has entered into a partnership with HDFC Ergo General Insurance Company. Under this agreement, Zaggle will provide its Propel Reward Platform to HDFC Ergo, enhancing their rewards and recognition offerings. This collaboration is expected to bolster Zaggle’s market presence and could positively affect its stock performance in the near term.
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3. Lemon Tree Hotels
Lemon Tree has signed a licensing agreement for a new property in Nashik, Maharashtra. The management of this property will be handled by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree. This strategic move is anticipated to expand Lemon Tree’s footprint in the hospitality sector, which may attract investor interest.
4. TV Vision
TV Vision has announced plans to increase its authorized share capital from ₹55 crore to ₹80.01 crore. This move indicates the company’s intent to raise funds for future expansions or projects, which could lead to a positive market reaction.
5. Bafna Pharmaceuticals
Bafna Pharmaceuticals has been recognized by the Pharmaceuticals Export Promotion Council of India with the All-Round Silver Star Award for the fiscal year 2022-2023. This accolade highlights the company’s significant contributions to the pharmaceutical export sector, potentially enhancing its reputation and stock value.
6. Indo Thai Securities
Indo Thai Securities is scheduled to discuss various fundraising methods, including equity shares and convertible bonds, on September 12. This meeting could lead to new investment opportunities and influence the company’s stock performance.
7. IRB Infrastructure
IRB Infrastructure has reported a 20% year-on-year growth in revenue, achieving ₹503 crore in August 2024. This strong financial performance is likely to boost investor confidence and positively impact its stock price.
8. Arvind Company
Arvind Company has made an additional investment of ₹48 crore in its wholly-owned subsidiary, Arvind Technical Products. This investment aims to enhance the subsidiary’s operational capabilities, which may lead to improved financial results in the future.
9. Bank of Baroda
Bank of Baroda has issued 5 lakh bonds, offering a coupon rate of 7.26%. The total issue size is ₹5,000 crore. This move is part of the bank’s strategy to raise capital, which could attract more investors to its stock.
10. Action Construction Equipment
Action Construction Equipment has received an order from the Ministry of Defence for the supply of 99 forklifts. This contract signifies a strong demand for the company’s products and could enhance its revenue stream.
Market Outlook
Today’s trading session is anticipated to be vibrant, with the above-mentioned stocks likely to experience significant activity. Investors are advised to keep an eye on the developments surrounding Religare Enterprises, as the ongoing legal issues could lead to volatility. Additionally, the partnerships and expansions by other companies may present opportunities for growth in their respective stock prices.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
