The World Stock Exchange is liable to be very fluctuating today with crucial sectors like Oil Indonesia, Pharmaceuticals and Infrastructure recording remarkable changes this day. The business is expecting some significant changes from ONGC, Alembic Pharmaceuticals and Ashoka Buildcon. Thus investors are advised to watch these stocks closely as they drive market movement by their recent developments.
ONGC has increased production from KG-DWN-98/2 Cluster 2 to include 4 out of 13 oil wells and 3 out of 7 gas wells already operating, bringing about a major improvement in total output. As if that wasn’t enough, ONGC’s Rs 159 crore share buyback at Rs 1,200 per share will also increase shareholder value tremendously.
Alembic Pharmaceuticals received FDA approval for its Betamethasone Valerate foam thus paving the way for entry into the United States market. For Dr Reddy’s Laboratories however, there are chances that stock price performance may be affected short-term by Form 483 with Three Observations at Srikakulam plant While FDC Limited’s facility passed inspection by FDA without any remarks at all.
Ashoka Buildcon emerged as the lowest bidder for a Rs 478 crore project in Mumbai thus enhancing its project pipeline. On the other hand, KEC International obtained orders amounting to Rs 1,079 crore from India, Middle East and Americas pointing out its far reaching influence as well as strong order book in transmission infrastructural development.
Karur Vysya Bank is poised for a 9.99% stake acquisition by SBI Mutual Fund, potentially boosting its stock. Religare Enterprises faced ED scrutiny, freezing some shares, adding uncertainty. Meanwhile, IDFC Limited received a substantial income tax refund of Rs 202.55 crore, strengthening its financials.
Zydus Lifesciences is expanding into the alternative protein market through a 50:50 joint venture with Perfect Day Inc. Uno Minda, through its JV with Tokai Rika, opened a new plant in Rajasthan with a monthly capacity of 3,84,022 units, marking significant growth in automotive component manufacturing.
Bharat Electronics and Trent will join the Nifty 50, effective September 30, potentially driving up demand for their stocks. Additionally, Bharat Dynamics and Cochin Shipyard will be added to the FTSE All World Index, effective September 23, likely attracting more international investors.
In Ambuja Cements, GQG Partners acquired a 0.69% stake, while Holderind Investments offloaded a 2.76% stake at Rs 625.5 per share. NIIT saw a 0.59% stake acquisition by Ramesh Shrichand Damani, and Nykaa witnessed a 1.43% stake sale by Harinderpal Singh Banga, indicating significant investor activity.
Interarch Building Products debuts on the mainboard, while Forcas Studio and Brace Port Logistics join the SME listings. Manappuram Finance and Welcast Steels trade ex-dividend, which could impact their market performance, as investors adjust to the dividend payouts.
Stocks like Aarti Industries and Aditya Birla Fashion are under the F&O ban, limiting fresh positions and possibly increasing volatility. These bans could lead to heightened trading activity as investors react to restrictions in the derivatives market, affecting stock prices in the short term.