Stocks in Focus: Torrent Pharma, Jio Financial Services, CONCOR and Others

The GIFTY Nifty futures were trading negatively during the early hours before the opening of the markets on Friday. Domestic Indices are expected to open in a flat-to-negative range in line with the GIFT Nifty futures reacting to the Q1-FY24 GDP data. 

The benchmark equity indices, NSE Nifty 50 and S&P BSE Sensex, ended their 3-day winning streak on Thursday. The Sensex was down 0.39% or 255.84 points at 64,831.41, while the Nifty 50 fell 93.65 points or 0.48% to 19253.8.

Here’s a list of stocks to watch on September 1:

Container Corporation of India: CONCOR announced that its director of international marketing and operations will take over as the chairman and managing director of the institution with effect from October 1.

Five-Star Business Finance: According to reports, Private equity investors Matrix Partners, TPG Asia, and Norwest Ventures are looking to sell about 8.8% stake in Five-Star Business Finance Ltd via a block deal at an offer floor price of Rs 724 per share, a near 5.5% discount from its closing price on Thursday. 

Jio Financial Services Ltd (JFSL): JFSL will be removed from all BSE (Bombay Stock Exchange) indices, including the blue-chip Sensex, on Friday, September 1, the BSE announced. The scrip, however, will still trade on the NSE Nifty 50 index. 

Genus Power Infrastructure: The company’s wholly-owned step-down subsidiary has received a letter of award (LA) worth Rs 2,247.37 crore for providing advanced metering infrastructure services, supply, installation, and commissioning of 24.18 lakh smart meters. 

Torrent Pharma: Torrent Pharma has reportedly submitted a non-binding bid to acquire the promoter family’s stake in the pharmaceutical giant Cipla. Torrent Pharma will likely decide on a binding offer in the coming weeks. It is intensifying its efforts to secure financing and will probably hold talks with private equity companies and foreign institutions.

ITD Cementation India: The company has secured a marine contract worth approximately Rs 3,290 crore net of taxes.