Indian stock market investors are likely to track several companies on Friday, September 18, following key business developments, order wins, investment plans, expansion initiatives, partnerships, and other corporate announcements.
Bharat Electronics, Oil India, PB Fintech, Responsive Industries, and Avenue Supermarts are among the stocks likely to remain in focus. Wipro and PTC India may also attract attention following announcements made by the companies.
The Indian stock market closed Thursday’s trade on 17 September with modest gains, as traders shrugged off the US Federal Reserve’s rate hike, which had been largely priced in.
The Nifty 50 wrapped up the session at 23,270, up 0.23% from the previous close, while the Sensex gained 0.10% to 74,413. The broader market, however, outperformed the frontline indices, with the Nifty Midcap 100 index surging 1% and the Nifty Smallcap 100 rallying 0.76%.
Stocks to watch on September 18
Bharat Electronics: Secured additional orders worth ₹648 crore since its last disclosure on 26 August. The orders include laser-based IR jammers, communication equipment, cybersecurity solutions, thermal imagers, AI-based software, TR modules, upgrades, spares and services.
Wipro: The tech major partnered with Aramco and SAP to launch Wipro STO360, a solution designed to help asset-intensive organisations manage shutdowns, turnarounds and outages more efficiently.
Oil India: Plans to invest ₹150 billion over the next three years in deepwater exploration projects in India. The company is also targeting higher domestic oil and gas production, accelerated exploration and selective expansion in clean energy.
PB Fintech: The fintech company denied market speculation that Chairman, Executive Director and Group CEO Yashish Dahiya plans to resign. The company said Dahiya will continue in his current roles and lead its growth strategy.
Responsive Industries: It decided not to proceed with its proposed share buyback at this stage, citing prevailing market conditions, global economic uncertainties and their impact on its export business. The board may reconsider the proposal in the future.
Bharat Forge: The company opened its Qualified Institutional Placement (QIP) on September 17, with the floor price fixed at ₹1,947.70 per share.
Petronet LNG: It approved a 50:50 joint venture with Gruner Renewable Energy to establish 10 compressed biogas (CBG) plants across India. The plants will have a combined capacity of 180 tonnes per day, with an estimated capital outlay of ₹1,200 crore.
Avenue Supermarts: The company said it opened a new store in Narayanpur, Dharwad, Karnataka, taking its total store count to 510.
PTC India: Incorporated a joint venture, NIRL PTC Renewables, with NLC India Renewables to explore and develop green energy projects. PTC India holds a 26% stake in the JV.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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