Stocks to watch: Tata Power, Ircon, Allied Digital Services, BLS International, Ratnamani Metals
DJ Mediaprint & Logistics has secured orders from LIC of India, Divisional Office Nanded for printing and supply of various items.
Domestic equity markets are likely to get a cautious start amid weakness in other Asian markets despite overnight gains on Wall Street. The Reserve Bank of India’s three-day policy meeting, which is set to begin later today, will be on investor radar. Market participants do not expect the monetary policy committee to change its accommodative stance or the repo rate. There will be some cautiousness after the Bombay Chamber of Commerce and Industry’s survey found that an overwhelming number of exporters are worried about competitiveness as global trade picks up pace after the ravages of the pandemic. Besides, foreign institutional investors (FIIs) offloaded shares worth Rs 1,915.08 crore, while domestic institutional investors (DIIs) lapped up shares worth Rs 1,868.23 crore on a net basis in the Indian stock market. Though, some support may come as Moody’s Investors Service changed its outlook on India’s sovereign ratings to stable from negative. However, it retained the ratings, both on foreign and domestic currencies, at the lowest investment grade. Here is the list of top stocks that could be in focus on October 6.
Tata Power: The company has inked strategic partnership with TVS Motor Company. As part of the MoU, the two companies agreed to drive the comprehensive implementation of Electric Vehicle Charging Infrastructure (EVCI) across India and deploy solar power technologies at TVS Motor locations. The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India.
Ircon International: Ircon International with its JV partner has emerged as the lowest bidder valuing Rs 3429 crore in the tender floated by National High Speed Rail Corporation (NHSRCL) for the design and construction of 18.133 km of viaduct involving Ahmedabad Station and Sabarmati Station and associated works for the project for construction of Mumbai-Ahmedabad High Speed Rail. The completion period of the project is approximately 4.5 years.
Allied Digital Services: The company has won a transformational, five year contract valued at Rs 165 crore from a large Global Manufacturing Conglomerate. Allied Digital will manage and transform the IT infrastructure services including Workplace Services, Enterprise Services, Enterprise Applications, Security, Governance Support. It will also govern, optimize, transform existing IT service contracts of all business entities as well as support sourcing of new IT services and solutions. The transformed service model will establish highly optimized IT operations and boost business of all entities.
Datamatics Global Services: The company has introduced Enterprise Productivity Plan to help organizations achieve greater agility, drive digital transformation, and greater productivity by automating repetitive, mundane tasks and document-intensive processes. Enterprises can drive productivity with Datamatics Intelligent Automation Platform starting at $99 per month and it’s a limited period offer.
DJ Mediaprint & Logistics: DJ Mediaprint & Logistics has secured orders from LIC of India, Divisional Office Nanded for printing and supply of various items. This gives a major boost to the company to operate, penetrate and compete in its regional market.
BLS International: The company has signed renewal contract with Royal Thai Embassy for visa services. BLS will be accepting visa applications for Thailand from various cities of India including New Delhi, Himachal Pradesh, Punjab, Haryana, Rajasthan, Uttarakhand, Assam, North East, Chandigarh, Jalandhar, Jammu & Kashmir.
Ratnamani Metals & Tubes: The company has received various orders aggregating to Rs 144 crore (excluding GST) for supply of stainless steel pipes and carbon steel pipes from Oil & Gas sector. The said order is to be executed in 3 to 8 months.