Stocks To Watch: Paytm, Lupin, IndusInd Bank And Others In News

The NSE Nifty slipped 23.55 points or 0.10 per cent to settle at 22,642.75. Sector-wise buying was seen in Metals, Realty, and Financials.
Stocks to Watch
Stocks to Watch

Benchmark equity indices settled marginally lower on Tuesday due to profit-booking after the Sensex touched the 75,000 mark for the first time ever in early trade and the Nifty climbed to its fresh record high of 22,750.

The BSE Sensex fell 58.80 points or 0.08 per cent to close at 74,683.70. The NSE Nifty slipped 23.55 points or 0.10 per cent to settle at 22,642.75. Sector-wise buying was seen in Metals, Realty, and Financials. Metal index witnessed a smart rally on the back of a surge in global metal prices and strong domestic demand.

“On the global front, investors will keep an eye on US & Chinese inflation data and US FOMC meeting minutes to be released on Wednesday. Back home, we expect the uptrend to continue amid healthy Q4 business updates and strong macro data. With the start of the result season, stock-specific action is likely to continue in the market. Agri and rural-related stock are expected to be in focus after Skymet forecast normal monsoon for India in 2024,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Here are the key stocks to watch on 9 April:

1) Paytm: Paytm Payments Bank’s Managing Director and Chief Executive Officer Surinder Chawla has tendered his resignation on 8 April, the company said in a stock exchange filing on Tuesday. Chawla is stepping down citing personal reasons and to explore better career prospects. His resignation will be effective from 26 June 2024.

2) Lupin: The drugmaker has launched its first generic version of Oracea (doxycycline capsules, 40 mg) in the United States. The development comes after the company’s approval from the United States Food and Drug Administration (US FDA) for the product.

3) Exide Industries: The automotive battery maker has signed an agreement to acquire a 26 per cent Clean Max Arcadia for Rs 5.34 crore. Through this acquisition, the company aims to qualify as a captive consumer of solar power, thereby advancing renewable energy adoption within its operations. Clean Max Arcadia is a special purpose vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions, for the generation and supply of solar power.

4) IndusInd Bank: IndusInd International Holdings (IIHL), the promoter company of IndusInd Bank, has signed a definitive agreement with global asset manager Invesco’s Indian arm Invesco India Asset Management (IIAM). IIHL will acquire a 60 per cent shareholding in IIAM, while Invesco Limited will retain a 40 percent stake in the newly formed joint venture (IIAM). Both IIHL and Invesco will have sponsor status.

5) ICICI Prudential: On Tuesday, the company said it has received a Goods and Services Tax (GST) demand order amounting to Rs 20.50 crore for the 2018-19 financial year. The demand was received from the office of the State Tax Officer in Gujarat under Section 73 of the GST Act, 2017.

Related Stories

No stories found.
Outlook Business & Money