Sensex, Nifty Poised For Quiet Start; Pfizer, Lupin, Tata Motors, RateGain, Newgen, RITES On Stock Watchlist
After eight days of losses, markets may see a cautious start as the RBI policy decision takes center stage. Stock-specific action is expected in pharma, auto, and PSU banking counters.
Indian stocks are poised for a subdued opening on Wednesday, as the GIFT Nifty — an early indicator for the Nifty 50 index — traded flat ahead of the market open. Benchmark indexes ended lower for the eighth straight session on Tuesday, with the Nifty index closing below 24,700.
All eyes will also be on the Reserve Bank of India’s (RBI) rate decision due at 10 am today. Economists expect the central bank to hold steady on rates but a dovish tone could open the path for further rate cuts going forward. Rate sensitive sectors will be in focus today.
Most major Asian markets were mostly higher in morning trade, barring Japanese Nikkei that was down nearly 1%. Chinese markets are shut for a week for National Day holidays.
Stock Watch
Pfizer India: The US parent company has received a three-year reprieve from tariffs on pharmaceutical imports imposed by US President Donald Trump.
Aurobindo, Dr Reddy’s, other Indian pharma companies: Trump’s 100% tariff on pharma takes effect today
Lupin – Got USFDA nod for Rivaroxaban oral suspension drug, used to treat venous thromboembolism (VTE).
Auto stocks – Investors will be tracking September sales data.
Shriram Finance – News reports suggest that Japan’s MUFG is looking to buy 20% stake in the company.
Nestle India – Has signed a Memorandum of Understanding (MoU) to boost investments in Odisha & existing plants.
Shree Cement – The company commissioned 3.65 MTPA clinkerisation unit in Rajasthan.
Indian Overseas Bank – Got ₹31.8 lakh penalty notice from RBI for non-compliance of its Priority Sector Lending (PSL) targets and classification norms.
OIL India & GAIL – signed a pact to boost collaboration across the natural gas value chain
RateGain – The company is considering acquiring Sojern and its subsidiaries through its wholly-owned subsidiary for $250 million.
Newgen Software – Company has signed multiple deals across the UK, US, Ghana, and Dubai, with total contract wins exceeding $9 million.
RITES – The company has signed a pact with Etihad Rail and its subsidiary to boost collaboration in the mobility sector across the UAE.
Atlantaa – The company has entered into an agreement with IRCON International for undertaking a contract worth ₹2,485 crore.
Swan Defence has signed a Memorandum of Understanding (MoU) with Samsung Heavy Industries to jointly explore commercial shipbuilding and heavy engineering projects across domestic and international markets.
Mainboard Listing Today
Epack Prefab Technologies, BMW Ventures, and Jain Resource Recycling
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