Stocks to Watch Today: Adani Power, SpiceJet, JP Associates and other big companies’ news
The stock market brings new surprises and updates every day, and today is also something special for investors. If you actively follow the market or are interested in trading and investing, then today’s Stocks to Watch Today list can be very useful for you. Today, 08 September, the spotlight of the stock market is on some big names. Stocks like Adani Power, SpiceJet, Jaiprakash Associates (JP Power), Zydus Lifesciences, Aurobindo Pharma, BHEL, HFCL, Ceigall, ACME Solar Holdings and Prime Focus are under the watch of investors. Due to the quarterly results of these companies, new projects, acquisitions and some important developments, these stocks are making headlines and there is full expectation of increased activity in the market.
Stocks to Watch Today: Big news from SpiceJet and JP Associates
First of all, let’s talk about SpiceJet’s quarterly results. The airline company has suffered a big blow in Q1. This quarter has been quite tough for SpiceJet. While last year in the same period the company had shown a profit of around Rs 158.3 crore, this time the airline has suffered a consolidated loss of Rs 233.8 crore. Revenue has also fallen to Rs 1,120.2 crore, which is around 34% less than last year’s Rs 1,708.2 crore. After this performance, today becomes even more important for SpiceJet investors. For this reason, today can be quite crucial for SpiceJet investors.
On the other hand, there is also a big news for JP Power shareholders. Vedanta Group has made a winning bid of Rs 17,000 crore to acquire debt-ridden Jaiprakash Associates (JAL). This deal is quite big and its impact can be directly seen on JP Power share price. This deal, which comes after insolvency proceedings, can start a new chapter for the company.
Stocks to Watch Today: Pharma and Healthcare sector in focus
Healthcare and pharma stocks will also be in the eyes of investors today. US FDA inspected Zydus Lifesciences’ Vadodara plant and issued 4 observations, but the best thing was that there was no data integrity related issue. On the other hand, after inspecting Aurobindo Pharma’s childhood plant, the US FDA gave 8 observations, which are mainly procedural. Due to this, both stocks may see short-term volatility, but this is an informative update for long-term investors.
Stocks to Watch Today: Adani Power and New Plans for Renewable Energy
One of the biggest news of today is Adani Power share. The company has signed a shareholders’ agreement with Bhutan’s Druk Green Power Corporation, in which both together will set up a 570 MW hydroelectric project in Wangchhu. This joint venture between Adani and DGPC (49:51 shareholding) will start a new clean energy project in Bhutan. This development can create a positive sentiment on Adani Power share price, as renewable and hydro projects can prove to be game-changers for the future.
Adani Green Energy is also in the headlines, as it has operationalized its new 87.5 MW power projects in Khavda, Gujarat. Now the total renewable generation capacity of the company has exceeded 16,000 MW, which is a very strong growth signal.
Stocks to Watch Today: Big price cuts in Auto sector
A big movement is also being seen in the auto sector. A big news has come from the auto sector today. Hyundai Motor India, Mahindra & Mahindra and Tata Motors have decided to reduce the prices of their vehicles. This cut has been made because the companies have decided to pass on the full benefit of GST rate reduction to the customers. Hyundai cars have now become cheaper by up to Rs 2.4 lakh, Mahindra has cut the prices of its popular SUVs like Thar, Scorpio and XUV700 by up to Rs 1.5 lakh, and Tata Motors has also announced a reduction of up to Rs 1.55 lakh in the prices of its cars and SUVs. This development can bring a new energy to auto stocks and overall demand.
Stocks to Watch Today: Infrastructure and corporate updates
BHEL is also coming forward with a new innovation. The company has signed a 10-year exclusive MoU with Horizon Fuel Cell Technologies of Singapore to develop hydrogen fuel cell based railway locomotive. This move can be a revolution for green energy and transport.
HFCL has also secured export orders worth Rs 358 crore for optical fibre cables, which is a positive signal for the telecom and connectivity sector. Ceigall India has received letter of intent from MSEDCL for solar power project, under which 147 MW solar projects will be set up in Maharashtra.
Similarly, Time Technoplast has signed an MoU to acquire 74% equity stake in Ebullient Packaging and Ratnamani Metals & Tubes has purchased the entire shareholding of Switzerland’s Technoenergy AG. All these corporate actions will increase activity in stocks today.
Stocks to Watch Today: Buzz of Bulk Deals and Prime Focus
Prime Focus is also in the spotlight. Big investors like Ramesh Damani, Madhusudan Kela and Utpal Sheth have acquired stake in the company. A total of 3.3% stake has been taken at a valuation of Rs 146 crore. Along with this, trading activity in the company’s shares may increase due to bulk deals and block deals.
Tourism Finance Corporation and Zee Media are also included in today’s list of stocks due to their board level and promoter level investments.
Final Words on Stocks to Watch Today
Today’s stock market is going to be very exciting for investors, as big updates are coming in airline, power, auto, pharma, infrastructure and renewable energy sectors. Adani Power share, JP Power share price, SpiceJet results, and price cuts of auto companies are today’s top triggers that will drive the trading sentiment. If you are a short-term trader, you can take advantage of volatility, and if you are a long-term investor, these updates give you a clear picture of which companies are focused on sustainable growth.
Disclaimer:
This article is for informational purpose only. Investment in stock market is risky. Take any investment decision only after consulting your financial advisor.
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