Stock to Watch Today (1 September): Indian equity benchmark indices closed in red following a volatile session on Thursday, breaking its three-day gaining streak due to selling in banking, FMCG, and oil & gas shares amid weak Asian cues. The BSE Sensex fell by 255.84 points or 0.39 per cent to close at 64,831.41. The NSE Nifty 50 also lost 93.65 points or 0.48 per cent to settle at 19,253.80.
"Benchmark Indices ended in the red today on the back of concerns regarding the 9 per cent deficit in the Monsoon as several states have witnessed scarce rainfall this month across many districts. However, we did witness a lot of stock specific activity across sectors on a day characterised by volatility. A notable feature of Thursday's trade was the activity seen in the Small-Cap Index which managed to end the day in Green," said S Ranganathan, Head of Research at LKP Securities.
Viacom18 Media Pvt Ltd, a subsidiary of Reliance Industries Ltd (RIL), bagged the media rights for all bilateral cricket matches to be played in India during the next five years for Rs5,963 crore via the e-auction conducted by the Board of Control for Cricket in India (BCCI) on Thursday.
Torrent Pharma is likely to have filed a preliminary bid with a non-binding nature to acquire a stake from the promoters of the pharmaceutical company, Cipla. Torrent is expected to decide on a binding bid in the next few weeks, reported CNBC-TV18.
The demerged Reliance entity Jio Financial Services Ltd’s shares will be removed from all S&P BSE indices before trading opens on 1 September, as per a circular by the BSE. The stock was locked in lower circuit for several days due to which the exclusion was postponed. However, the stock has reached upper circuits over the past three days.
Jalan Kalrock Consortium on Thursday announced that it has deposited Rs 100 crore to Jet Airways, following NCLAT’s approval for the airline’s revival. This financial boost brings Jalan Kalrock Consortium’s total investment to Rs 250 crore and moves them closer to gaining ownership of Jet Airways.
The company on Thursday announced that the Union Ministry of Railways has appointed Sanjay Swarup as the chairman and managing director of the organization. Previously, Swarup was the director of international marketing and operations at Container Corporation of India.