Stocks To Watch on 6 September: Indian equity benchmark indices settled higher for the third consecutive day on Tuesday on the back of gains in index heavyweights Reliance Industries, ITC and Infosys amid a bearish trend in global markets. In addition, encouraging domestic macroeconomic data added to the positive momentum.
The BSE Sensex jumped 152.12 points or 0.23 per cent to close at 65,780.26. The NSE Nifty climbed 46.10 points or 0.24 per cent to settle at 19,574.90.
"Strong domestic factors are providing crucial support for Indian equities, allowing them to maintain their strength despite attempts by weak global peers to disrupt the mood. India's service PMI remains robust at 60.1, indicating sustained demand even in the face of inflationary pressures," said Vinod Nair, Head of Research at Geojit Financial Services.
"Notably, small and mid-cap stocks have been standout performers, with both indices reaching all-time highs. Conversely, the weak Chinese service PMI has cast a shadow on hopes of an economic rebound in China, impacting global market sentiments,” he added.
The demerged Reliance entity JFS will be excluded from the NSE indices, including the Nifty 50, from 7 September, as the stock has not touched the price band on two straight consecutive days on 4 and 5 September on the NSE. If the stock hit the price band on 6 September, the exclusion will not be postponed further.
The Zambian government has agreed to return the ownership of Konkola Copper Mines (KCM) to Vedanta Resources. Konkola Copper Mines assets have reserves of 16 million tonnes of contained copper.
The state-owned power transmission company has bagged the inter-state transmission system project on build, own, operate and transfer (BOOT) basis in Rajasthan. It will create the transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part H.
The CBI has arrested executive director KB Singh, along with chief general manager Davinder Singh and director of Vadodara-based Advance Infrastructures Surender Kumar in an alleged Rs 50 lakh bribery case. The bribe was allegedly paid for favouring the company in two GAIL pipeline projects – Srikakulam to Angul and Vijaypur to Auraiya.
The state-run construction company has signed a Memorandum of Understanding (MoU) with Kerala State Housing Board, for development of 17.9 acres land parcel of the board in Kochi. The project is worth Rs 2,000 crore.