Trading Radar For September 3: TCS, JSW Cement, Eternal, E2E Networks, MOIL, And Adani Power Stocks Are On Investors' Watchlist

Indian equity markets closed lower on Tuesday, dragged down by financial, auto, and pharmaceutical stocks. This marked the benchmark indices' fourth decline in five sessions.

The broader markets are likely to open flat to slightly higher on Wednesday, with the GIFT Nifty, an early indicator for the Nifty 50 index, edging 0.03% higher at 24,641 at 8:20 am IST.

Investors will closely monitor developments surrounding the 56th GST Council meeting starting today. The 2-day meeting is expected to discuss the long-pending rate rationalization issue, with reports suggesting that about 175 items, including consumer goods and automobiles, could see a GST cut.

While the states have broadly agreed with the Centre's new tax slab, it remains to be seen whether the proposal to exempt GST from life and health insurance will be accepted.

Barring South Korea's KOSPI Index, Bursa Malaysia KLCI Index, and the Taiwan Weighted Index, all major Asian markets were trading lower.

The gold spot price was $3,536.87 per ounce, while the Brent crude price was $69.02 per barrel.

Stock Watch

JSW Cement: Reported a wider Q1 consolidated loss of ₹1,356.2 crore due to a one-off charge, compared to a ₹15.1 crore loss last year. Revenue rose 7.8% to ₹1,559.8 crore and EBITDA jumped 61.4% to ₹322.65 crore with margins expanding to 20.7%.

Tata Consultancy Services (TCS): Expanded its partnership with Scandinavian insurer Tryg under a seven-year, €550 million deal to standardise operations across Denmark, Sweden, and Norway.

Eternal: Raised Zomato's platform fee on food delivery orders to ₹12 from ₹10, marking a 20% hike. 

Indus Towers: Board approved the company's entry into African markets, beginning with Nigeria, Uganda, and Zambia, as part of its revenue diversification and long-term growth strategy.

Waaree Energies: To acquire a 64% stake in Kotson's for ₹192 crore, making it a subsidiary, and has also approved buying 100% of step-down unit Impactgrid Renewables.

PNC Infratech: Emerged as the lowest bidder for expansion works at Lal Bahadur Shastri International Airport, Varanasi, quoting ₹297.01 crore.

Adani Power: The Ministry of Coal has cleared operations at Adani Power's Dhirauli mine in Madhya Pradesh, which holds net geological reserves of 558 MMT.

Yes Bank: The CCI approved Sumitomo Mitsui Banking Corporation's acquisition of a 24.99% stake in Yes Bank from multiple Indian banks, following RBI approval.

E2E Networks: Received an order worth ₹177 crore for GPU allocation to GNANI AI for building India's foundational AI model.

DCM Shriram: Signed a long-term agreement with Aarti Industries to supply chlorine from its Gujarat-based chlor-alkali plant.

UPL: Advanta Mauritius, a UPL subsidiary, will acquire Decco Holdings' post-harvest business for $502 million, consolidating it with its seed business, subject to shareholder nod.

Lemon Tree Hotels: Signed three new properties in Pushkar and Ajmer under Lemon Tree Premier and Keys Lite brands, to be managed by Carnation Hotels.

DCX Systems: Board appointed CA Prasanna Kumar T S as CFO and re-appointed Raghavendra Rao H S as Chairman & MD.

Adani Energy Solutions: Unit AEML repurchased $44.66 million of its 2031 notes, reducing the outstanding principal to $255.34 million.

MOIL: Posted record August output of 1.45 lakh tonnes, up 17%, with sales growing 25.6% to 1.13 lakh tonnes.

TBO Tek: To acquire US-based Classic Vacations for $125 million, expanding into the North American travel market.

HealthCare Global Enterprises: CFO Ruby Ritolia resigned from her position effective September 2.

Highway Infrastructure: Secured an NHAI contract worth ₹69.8 crore to operate Muzaina Hetim Fee Plaza in Uttar Pradesh.

Sunteck Realty: Board meeting on September 5 to consider raising up to ₹500 crore through a preferential issue of securities.

Active IPOs

Amanta Healthcare

Earnings Today

Borosil Renewables, Eros International Media, and Taylormade Renewables

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