Stocks to Watch: DreamFolks, RIL, HAL, L&T, Adani, Tata Motors, REC, NTPC

Stocks to Watch on Tuesday: DreamFloks Services to debut on Tuesday; Reliance Industries acquires majority stake in SenseHawk for $32 mn; Delta Corp in F&O ban.

Stocks to Watch Today: The key benchmark indices are likely to start trade on a quiet note owing to lack of definite cues from the global markets, as US was closed overnight for Labour Day holiday. 

Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC+) announced a cut in crude oil production by 100,000 barrels per day (bpd) from October onwards, a first in the last one year. As of 06:45 AM, the SGX Nifty futures quoted at 17,735, as against the spot Nifty close of 17,666 on Monday.

Here’s a list of stocks that are likely to see some action in trades on Tuesday.

DreamFolks Services: The company’s IPO received a strong response and was subscribed up to 56.68 times. According to the Grey Market Premium (GMP) the stock is likely to be listed around Rs 400-mark as against the issue price of Rs 326 per share.

Reliance Industries (RIL): The Mukesh Ambani-led firm signed a definitive agreement to acquire a majority stake in SenseHawk Inc (“SenseHawk”) for a total transaction value of $32 million, including funding for future growth, commercial rollout of products, and R&D.  SenseHawk is a Solar Digitization Platform (SDP) with customers throughout the solar asset lifecycle in the US, EMEA, APAC, and SEA. 

Tata Motors: The Tata Group company launched India’s first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes.  The CNG models are powered by the 5.7-litre SGI engine generating peak power of 180hp and torque of 650Nm, come with a modular architecture and offer a range of up to 1,000 km. READ MORE

Hindustan Aeronautics (HAL) and Larsen & Toubro (L&T): A space consortium formed by HAL and L&T was awarded a Rs 860-crore contract for the next five Polar Satellite Launch Vehicles (PSLVs), pointing to the healthy growth and consolidation of the domestic space and satellite launch industry. READ MORE

Adani Enterprises: Gautam Adani is scouting for a new leader for his mergers and acquisitions (M&A) strategy. Vinod Bahety - who’s been helming Adani Enterprises M&A activity - will move to a new business vertical soon, sources said. READ MORE

Metal sector: The global industrial metals scenario has been extremely confused since the Russia-Ukraine war. We have seen both cuts in supply and also falling demand. The new equations are not yet clear.  Metal spreads may not yet have bottomed out with guidances indicating Q2' FY 2022-23 may see lower profitability. READ FULL ANALYSIS

REC: The state-run firm will seek shareholders' approval on September 16 to raise up to Rs 75,000 crore through issuance of bonds. The funds are proposed to be raised through issuance of debentures on private placement basis during a period of one year from the date of passing of the resolution, in one or more tranches. READ MORE

Manappuram, Muthoot: Rating agency Standard & Poor’s (S&P) said intense competition in the gold loan business in India may shrink margins of gold finance companies. However, the market leaders - Manappuram Finance and Muthoot Finance - are not facing any refinancing challenges yet. READ MORE

NTPC: India’s largest power generating company, has acquired the stressed Jhabua thermal project (600Mw) of Gautam Thapar-owned Avantha Group, through the Insolvency and Bankruptcy Code (IBC) process.

Adani Ports: The Supreme Court on Monday said Adani Ports and Special Economic Zones (APSEZ) could participate in tenders floated by “public bodies”, providing relief to India’s largest port developer and operator, which has been facing multiple disqualifications from state-owned port projects against the backdrop of an ongoing case.

Stocks in F&O ban: Delta Corp is the only stock in F&O ban period on Tuesday.