Stocks to Watch: Auto Price Wars, Adani-Vedanta Deals, and Pharma Checks
- M&M, Tata Motors, and Hyundai slash SUV prices, sparking an industry-wide price war.
- Vedanta wins Rs 17,000 crore JAL bid; Adani Power ties up with Bhutan; BHEL eyes hydrogen locomotives.
- SpiceJet posts Q1 loss, HFCL bags Rs 358 crore export deal, Zydus & Aurobindo face USFDA observations.
Indian stock markets are set for a positive start on Monday, September 8, as GIFT Nifty indicated early strength. At 7:21 AM, GIFT Nifty futures were up 71 points at 24,918, hinting at a higher opening for the benchmarks.
On Friday, the Sensex slipped slightly by 7 points to close at 80,710.76, while the Nifty added 6.7 points to end at 24,741.
Globally, Asia-Pacific markets traded mostly higher on Monday after Japan’s Prime Minister Shigeru Ishiba announced his resignation and stronger-than-expected GDP numbers lifted investor sentiment. Japan’s economy grew 0.5 percent in the second quarter, ahead of the 0.3 percent flash estimate. This marked the fifth straight quarter of growth, driven by firm consumption. The Nikkei rose 1.8 percent, and the Topix gained 1.15 percent. South Korea’s Kospi was up 0.38 percent, while Australia’s ASX 200 slipped 0.34 percent.
On Wall Street Friday, US stocks ended lower despite hitting record intraday highs earlier in the day. The S&P 500 fell 0.32 percent, the Dow Jones lost 220 points or 0.48 percent, and the Nasdaq dipped 0.03 percent. A weaker jobs report raised growth concerns, capping investor enthusiasm.
With these global and domestic cues in focus, here are the key stocks to watch on September 8:
Mahindra & Mahindra (M&M): The company cut SUV prices by Rs 1.01–1.56 lakh across models, effective immediately.
Tata Motors: Announced plans to reduce car and SUV prices by up to Rs 1.55 lakh, starting September 22.
Hyundai Motor India: Declared GST-related price cuts of up to Rs 2.4 lakh, effective September 22.
SpiceJet: Reported a Q1 consolidated loss of Rs 233.8 crore compared to a profit of Rs 158.3 crore last year. Revenue dropped 34.4 percent year-on-year.
Zydus Lifesciences: USFDA inspection at its Vadodara injectable facility ended with four observations, none linked to data integrity.
Aurobindo Pharma: Received eight procedural observations from USFDA after an inspection at its Telangana Unit-XII.
Adani Green Energy: Commissioned 87.5 MW projects in Gujarat, taking its total capacity to 16,078 MW.
Max Estates: To acquire Base Buildwell, which owns 7.25 acres of land in Gurugram.
Adani Power: Signed an agreement with Bhutan’s DGPC to develop a 570 MW hydro project at Wangchhu.
Vedanta: Won the bid to acquire JAL for Rs 17,000 crore, outpacing Adani Group.
Ceigall India: Received LoI from MSEDCL for 147 MW solar projects.
BHEL: Partnered with Horizon Fuel Cell to develop hydrogen-powered locomotives.
PNB Housing Finance: Board approved issuing NCDs worth up to Rs 5,000 crore via private placement.
Welspun Living: CFO Sanjay Gupta resigned, effective October 15.
Imagicaaworld Entertainment: To acquire a 6.65 MW solar plant in Solapur for Rs 16 crore.
NTPC Green Energy: Signed an MoU with VOC Port to set up a green hydrogen fueling station.
HFCL: Won export orders worth Rs 358 crore for optical fiber cables.
Time Technoplast: To acquire a 74 percent stake in Ebullient Packaging, valued at around Rs 200 crore.
ACME Solar: Acquired full ownership of AK Renewable Infra for Rs 79.25 crore.
Exxaro Tiles: CFO Himanshu Shah resigned effective September 6.
Aegis Logistics: Investing Rs 100 crore to add 61,000 KL capacity at Mumbai Port.
Barbeque Nation: Shareholders reappointed Rahul Agrawal as CEO and WTD for five years starting December 2025.
Ratnamani Metals & Tubes: Acquired full stake in its Swiss subsidiary Ratnamani Trade EU AG.
Sunteck Realty: Board cleared preferential allotment of Rs 500 crore through warrants at Rs 425 each.
