Auto stocks, Jubilant Foodworks, Paras Defence, Maruti Suzuki, Adani Green in focus today

Indian equity benchmarks ended in red on Thursday led by banking and metal stocks. Today, the markets are likely to make a gap-down start on weak global cues. Traders will be concerned as India’s external debt stood at $571.3 billion at the end of June, recording an increase of $1.6 billion over its level at the end of March 2021. Traders may take note of the report that former RBI Governor D Subbarao stressed on the need to accelerate India’s economic growth rate and make sure that this benefit of growth is shared, even as he said that unemployment has taken a form of crisis in the country. Subbarao further said the organised sector is shedding jobs and the labour force is moving from the high productive sector to an unorganised sector. However, some respite may come later in the day as eight core industries, including coal, crude oil, and steel, posted a growth of 11.6% in August on a yearly basis, as per government data released. The eight core industries — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). Here is the list of top stocks that could be in focus on October 1, Friday.

Auto stocks: Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for September starting from today, 1 October 2021.

Maruti Suzuki India: The auto major said that owing to a supply constraint of electronic components due to the semiconductor shortage situation, the company is expecting an adverse impact on vehicle production in the month of October 2021 in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Private Limited (SMG) in Gujarat. Though the situation is quite dynamic, it is currently estimated that the total vehicle production volume across both locations could be around 60% of normal production.

Paras Defence: Shares of Paras Defence and Space Technologies will debut on the bourses today. The IPO was subscribed by over 304 times. The issue price is fixed at Rs 175 per share.

Jubilant Foodworks: Jubilant Foodworks Netherlands B.V. (JFN), a wholly-owned subsidiary of Jubilant Foodworks, proposes to acquire up to 17.18% ordinary shares of DP Eurasia N.V. (DP Eurasia) through a reverse bookbuild process from certain professional investors of DP Eurasia.

Adani Green: Adani Green Energy said that Adani Renewable Energy (MH) Energy, a wholly-owned subsidiary of the company has completed acquisition of 100% of the share capital and all the securities of Vento Energy Infra from Essel Green Energy.

Phillips Carbon Black: The company launched its QIP issue on Thursday and approved the floor price of Rs 255.85 per share.

IIFL Asset Management: The company stated that its asset base has crossed Rs. 50,000 crore-mark. The fund house’s aggregate Asset Under Management (AUM) comprising Alternative Assets and Mutual Fund (MF) rose to Rs. 50,019 crore from Rs.37,372 on March 31, FY21. While the one-year absolute growth in AUM was 87%, the three-year absolute growth was 212%.