Stocks in news: HDFC Bank, NTPC, Adani Ports, ICICI Bank, SBI, Nestle India
Markets witnessed a sharp sell-off on Thursday, reversing the recent recovery trend amid weak global cues and heightened geopolitical tensions. From a technical perspective, the Nifty erased the gains of the previous three sessions in a single move and breached the prior swing low around the 22,900 level during the day. Analysts say the corrective trend remains intact, with immediate support placed in the 22,500–22,800 zone. On the upside, any rebound towards the 23,400–23,600 range is likely to encounter strong resistance.
In today's trade, shares of HDFC Bank, NTPC, Adani Ports, ICICI Bank, SBI, Nestle India among others will be in focus due to various news developments.
HDFC Bank
Shares of HDFC Bank will remain in focus on Friday after the previous day's crash following its chairman Atanu Chakraborty's resignation. The Bank's chief executive and managing director Sashidhar Jagdishan said Chakraborty was asked to reconsider his decision to quit, elaborate on concerns involving ethics, and also "take back some of the language" in the resignation letter.
ICICI Bank
ICICI Bank said tax authorities have slapped a demand notice of Rs 768.6 crore on it for alleged short payment of GST. The bank said it will take appropriate steps, including contesting the order through a writ petition/appeal within prescribed timelines.
NTPC
Homegrown power giant NTPC has signed an agreement with UK-based Octopus Energy Group to explore business opportunities in various segments, including electricity distribution and storage. The collaboration will explore opportunities across India, the UK and other mutually agreed geographies with a focus on enhancing efficiency, affordability, reliability, and clean energy adoption
Adani Ports
Adani Ports and Special Economic Zone Ltd (APSEZ) has expressed in-principle interest in becoming one of the implementing entities under the insolvency resolution plan for Jaiprakash Associates Limited (JAL), signalling the Adani Group’s continued push to pick up strategic assets through bankruptcy proceedings.
SBI
Shares of SBI will be in focus after SBI Mutual Fund, India's largest asset management company, filed its draft red herring prospectus (DRHP) with market regulator Sebi for an IPO. The issue will be entirely an offer for sale (OFS) by its promoters.
Nestle India
Nestle India has announced the addition of a new production line for its popular chocolate brand Munch at its Sanand facility in Gujarat. The new line will add an estimated 8,300 tons per annum to the company’s output. The project, slated for completion in the financial year 2025-26, involves an investment of around Rs 225 crore, funded entirely through internal accruals.
JSW Steel
India's JSW Steel Coated Products, a unit of JSW Steel, has sought government intervention to secure supplies of liquefied natural gas and propane to prevent output disruptions amid shortages caused by the Iran war, according to a letter reviewed by Reuters.
In today's trade, shares of HDFC Bank, NTPC, Adani Ports, ICICI Bank, SBI, Nestle India among others will be in focus due to various news developments.
HDFC Bank
Shares of HDFC Bank will remain in focus on Friday after the previous day's crash following its chairman Atanu Chakraborty's resignation. The Bank's chief executive and managing director Sashidhar Jagdishan said Chakraborty was asked to reconsider his decision to quit, elaborate on concerns involving ethics, and also "take back some of the language" in the resignation letter.
ICICI Bank
ICICI Bank said tax authorities have slapped a demand notice of Rs 768.6 crore on it for alleged short payment of GST. The bank said it will take appropriate steps, including contesting the order through a writ petition/appeal within prescribed timelines.
NTPC
Homegrown power giant NTPC has signed an agreement with UK-based Octopus Energy Group to explore business opportunities in various segments, including electricity distribution and storage. The collaboration will explore opportunities across India, the UK and other mutually agreed geographies with a focus on enhancing efficiency, affordability, reliability, and clean energy adoption
Adani Ports
Adani Ports and Special Economic Zone Ltd (APSEZ) has expressed in-principle interest in becoming one of the implementing entities under the insolvency resolution plan for Jaiprakash Associates Limited (JAL), signalling the Adani Group’s continued push to pick up strategic assets through bankruptcy proceedings.
SBI
Shares of SBI will be in focus after SBI Mutual Fund, India's largest asset management company, filed its draft red herring prospectus (DRHP) with market regulator Sebi for an IPO. The issue will be entirely an offer for sale (OFS) by its promoters.
Nestle India
Nestle India has announced the addition of a new production line for its popular chocolate brand Munch at its Sanand facility in Gujarat. The new line will add an estimated 8,300 tons per annum to the company’s output. The project, slated for completion in the financial year 2025-26, involves an investment of around Rs 225 crore, funded entirely through internal accruals.
JSW Steel
India's JSW Steel Coated Products, a unit of JSW Steel, has sought government intervention to secure supplies of liquefied natural gas and propane to prevent output disruptions amid shortages caused by the Iran war, according to a letter reviewed by Reuters.
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