Stocks to Watch Today: Infosys, TCS, 3i, REC Soaring, What’s Behind the Surge?

 

Stocks to Watch Today, Sept 27, 2023: The Indian stock market indices, Sensex and Nifty are trading slightly lower by 0.08 percent and 0.03 percent respectively. The Bank Nifty is trading lower by 0.50 percent at 12.10 pm IST. The broader markets are outperforming their larger peers, as the Nifty mid and smallcap indexes are trading higher by 0.47 percent and 0.61 percent respectively.

Among the sectors, the Pharma, Realty, and IT sectors are trading higher while Media, Financial Services, and Bank are falling the most. The active stocks to watch at this moment are given below:

 

Nifty 50 Stocks to Watch Today

 

Infosys: The IT major announced that it collaborating with Microsoft for a generative AI solution. Infosys Topaz will use Microsoft’s Azure OpenAI Service and Azure Cognitive Services to extend AI capabilities. Both organizations will work together on their respective artificial intelligence (AI) capabilities to strengthen enterprise functions with AI-enabled solutions for multiple industries. The share price of Infosys is trading slightly higher by 0.13 percent at Rs 1462 per share.

IndusInd Bank: The pvt bank has announced a multi-year global association with the International Cricket Council (ICC) ahead of World Cup 2023, to provide a premium experience to customers, employees, and cricket fans. The bank will have access to a suite of branding and content assets. The share price of IndusInd Bank is trading higher by 0.45 percent at Rs 1429 per share.

NTPC: The largest power generating company declares commercial operation at Unit-1 Of Telangana STPP From Sept. 28, 2023. The share price of NTPC is trading lower by 0.56 percent at Rs 238 per piece

Nestle: Shares of Nestle were trading lower after UBS downgraded the stock to Neutral from Buy with an increase in target price to Rs 24,500 from Rs 23,000. The share price of Nestle is trading lower by 0.61 percent at Rs 22863

TCS, Infosys, HCL Tech: The foreign brokerage firm Morgan Stanley has raised the target prices of top and mid-tier Indian IT company stocks including TCS, Infosys, and HCL Tech, and maintained a favorable rating. It has raised the target based on the expectations of robust FY25 revenue growth, margin improvement, and double-digit EPS growth. The share prices of TCS, Infosys, and HCL Tech are trading higher by 0.54 percent, 0.13 percent, and 0.27 percent respectively.

 

Mid & Smallcap Stocks to Watch Today

 

Vedanta: The shares of Vedanta plunged more than 5 percent at Rs 212 per share to their lowest level in 14 months after Moody’s downgraded Vedanta Resources’ corporate family rating to Caa2 and maintained a negative outlook.

REC, Punjab National Bank: Both companies have tied up and entered into an agreement to co-finance projects in power, infrastructure, and logistics worth Rs 55,000 crore. The share price of REC is trading higher by 5 percent at Rs 280 per share, while PNB is trading higher by 1.64 percent at Rs 80.65

Shree Renuka Sugars: The company will acquire a 100% stake in Anamika Sugar Mills for Rs 235.5 crore to establish a presence in Uttar Pradesh and cater to the markets of North and East India. The share price of Shree Renuka Sugars is trading higher by 0.64 percent at Rs 55.15 per share

3i Infotech: The company received a Rs 39.55 crore contract from Ujjivan Small Finance Bank for end-user support services (workplace services). The contract is for a period of five years. The share price of 3i Infotech is trading higher by 2.71 percent at Rs 41.70 per share.

 

Global Stock Market Updates

 

On the global front, Asian markets mostly recovered their early losses on Wednesday. Japan’s Nikkei closed slightly lower by 0.11 percent while China’s Shanghai index is trading higher by 0.29 percent, as Industrial profits improved in August compared to July. 

Hang Seng ended higher by 0.52 percent. Australia’s S&P ASX 200 closed lower by 0.15 percent as inflation rose in August compared to July. The European markets are heading for a mixed opening on Wednesday, as global data continues to cause concern. The US future indexes, Dow Futures, and Nasdaq futures are trading higher at 11.40 am IST.

 

If you like the post “Stocks to Watch Today: Infosys, TCS, 3i, REC Soaring, What’s Behind the Surge?” please share it with others.

 

Also, read  Nifty and Bank Nifty Prediction for Tomorrow Sept 26, 2023

                 Stock Market Prediction Next Week (25- 29 Sept 2023)     

                 

Happy Investing!

Editor’s Desk