Stocks to watch: Fortis Healthcare, Bajaj Finance, Suzlon Energy, Siemens

Stocks in Focus: GIFT Nifty traded up 50 points or 0.25% at 19,767.5, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 soared 231.90 points or 1.19% to settle at 19,675.45, while the BSE Sensex jumped 742.06 points or 1.14% to 65,675.93.

“Nifty has witnessed a robust upward movement, propelled by a strong global equity market sentiment, particularly following a gap-up opening. On the daily chart, the index has shown significant upward momentum after a consolidation phase, indicating an increase in optimism. The overall trend appears positive, with the index consistently maintaining levels above the critical moving average. Looking ahead, bullish sentiment is likely to persist as long as the index remains above 19,500. On the upper side, resistance is anticipated in the range of 19,700 to 19,850,” said Rupak De, Senior Technical analyst at LKP Securities.

Bajaj Finance

The Reserve Bank of India (RBI) have directed the Company to stop sanction and disbursal of loans under its two lending products namely, ‘eCOM’ and ‘Insta EMI Card’, with immediate effect, particularly with respect to non-issuance of Key Fact Statements to the borrowers under these two lending products and the deficiencies in the Key Fact Statements issued in respect of other digital loans sanctioned by the Company, the company said in a regulatory filing on NSE.

ONGC

India’s top oil and gas producer ONGC plans to invest about Rs 1 lakh crore in setting up two petrochemical plants to convert crude oil directly into high-value chemical products as it prepares for energy transition, reported PTI.

Suzlon Energy

India’s largest renewable energy solutions provider, announced the RLMM listing of its S144 – 3 MW series of wind turbines which are extendable to 3.15 MW making them a formidable force in the market. This listing marks an important milestone for successful commercialization of the product, said the company in a press release. Suzlon has already installed the first prototype of this series at a hub height of 160m with a Hybrid Lattice Tubular (HLT) tower at the Gondal site in Gujarat. Currently the product is in the process of serial manufacturing and commercialisation.

Siemens

Siemens AG, the German conglomerate, announced to acquire an 18% stake in its Indian subsidiary for 2.1 billion euros ($2.28 billion). This move will raise Siemens AG’s ownership in Siemens Ltd from 51% to 69%, with the stake being purchased from Siemens Energy, whose stake in Seimens Ltd will come down from 24% to 6%.

One97 Communications (Paytm)

One97 Communications (OCL) which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today, announced a partnership with global travel technology company Amadeus. Under this collaboration, for the next three years, the company will integrate Amadeus’s expansive travel platform, enhancing the travellers’ experience from search to booking, and payments. This partnership brings together Paytm’s extensive user base and Amadeus’s expertise to provide travellers with a more seamless and efficient booking experience, said the company in a press release.

(With agency inputs.)