Stocks to watch- Adani Enterprises, Rail Vikas Nigam, Raymond, Updater Services

Stocks to watch: Adani Enterprises, Rail Vikas Nigam, Raymond, Updater Services

Stocks in Focus: GIFT Nifty traded flat at 19,443.5, down marginally 0.04%, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Tuesday, the benchmark domestic indices ended in red. The NSE Nifty 50 fell 0.56% to settle at 19,528.75, while the BSE Sensex tumbled 316.31 points to 65,512.10.

“Bearish sentiment prevailed through the trading session as weak Asian cues triggered corrections in automobile, oil & gas and metal stocks. Globally, the dollar’s continued strength against major currencies, including rupee has resulted in a flight of capital to safe haven dollar securities, thus making investors jittery. Ahead of the RBI’s credit policy outcome on Friday, markets may witness sideways movement, with focus likely to be on rate-sensitive sectors,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

Bajaj Finserv

Bajaj Allianz General Insurance Company (BAGIC), an unlisted material subsidiary of the Company, has received a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, Pune Zonal Unit, under Section 73(1) of the Central Goods and Services Tax Act, 2017 (the Act), on 29 September 2023 alleging a tax demand of Rs 1010,05,80,540, according to regulatory filings.

Maruti Suzuki India

The company has received draft Assessment Order for the FY 2019-20 wherein certain additions/ disallowances amounting to Rs 21,597 million with respect to returned income (the income disclosed by the Company in its Income Tax return) have been proposed, according to the information available on the NSE.

Rail Vikas Nigam

The company has secured a deal of Rs 444,26,24,392 (including applicable taxes) from the Himachal Pradesh government for the development of distribution infrastructure in the North Zone of Himachal Pradesh under the Revamped Reforms-based and Results-Linked Distribution Sector Scheme.

“M/s RVNL emerges as the Lowest Bidder (L1) for “Development of Distribution Infrastructure at NORTH ZONE of Himachal Pradesh under the Revamped Reformsbased and Results-linked, Distribution Sector Scheme (Loss Reduction Works), according to regulatory filings.

Raymond

The Board of Directors approved to invest an amount up to Rs 301 Crore in one or more tranches in Ten X Realty (‘TXRL’), a step down wholly owned subsidiary of the Company. Out of the said investment, the Company will invest up to Rs 125 Crore in the form of Redeemable Preference Shares which would be subject to such terms as may be finally decided and agreed. A balance amount of Rs 176 Crore will be invested by providing Inter Corporate Deposit (ICD) to TXRL, according to the information available on the NSE.

Updater Services

The shares of the business services company will make its debut on NSE and BSE today.