Key Stocks to Follow: A Look at Market Movers in Various Sectors

Before entering the trading fray today, investors and market watchers have several stocks on their radar across different sectors.

Companies in Focus

Several firms are expected to draw attention due to impactful business developments. Grasim Industries Ltd. has priced its rights issue at ₹1,812 per share, which is a 12.47% discount from the market price, aiming to raise ₹4,000 crore. Close to 2.2 crore shares will be issued as a result.

Dabur India Ltd. forecasts that its Q3 revenue will see a mid-to-high single-digit increase, primarily fueled by its food business. The food and beverage sector is expected to experience high-single-digit growth, while the home and personal care segment is set for mid-single-digit expansion.

Jupiter Wagons Ltd. has secured a substantial ₹473 crore order from the Ministry of Defence to produce and supply military wagons.

Pharmaceuticals and Banks Taking Strides

In the pharmaceutical arena, Lupin has received tentative approval from the USFDA for its generic version of AstraZeneca's Qtern tablets, a combination of Dapagliflozin and Saxagliptin. Meanwhile, the State Bank of India (SBI) has successfully placed a Green Bond valued at $250 million. Power Finance Corp and its unit REC Power Development and Consultancy are also in the news, with the former increasing its market borrowing plan to ₹1.05 lakh crore and the latter signing a ₹2,094 crore MoU with the Gujarat Government for a smart metering project.

Bulk Deals and Corporate Developments

Grasim Industries and Dabur India aren't the only ones making moves. In recent bulk deals, Sobha has seen Dendana Investments Mauritius purchase over half a million shares. Corporate actions have seen pledges, share splits, and key officer resignations, such as at Brightcom Group, where the CIO has stepped down.

Firms like RBL Bank and Jammu and Kashmir Bank have released encouraging financial statistics, signaling positive momentum with increased deposits and advances, while Utkarsh Small Finance Bank reports substantial growth in its loan portfolio and deposits.

Market Performance and Investor Movements

The stock indices have shown resilience recently, snapping a two-day dip and ending on a much-needed high, thanks primarily to financial services companies. Foreign buyers turned net purchasers of Indian stocks, indicating faith in the market's strength.

The rupee has seen a slight uptick against the U.S. dollar, giving the currency a firmer footing as the markets continue to adjust to global economic cues.

Grasim, Dabur, Lupin, SBI, Jupiter, REC, PowerFinance, Investments, Markets, Economy