Overnight Digest: Stocks To Watch on Monday
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From a JV exit by Lumax Auto Technologies Ltd to major project wins for NBCC (India) Ltd and Bondada Engineering Ltd, these stocks could remain active when Dalal Street resumes trading on Monday.
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Indian equity benchmark indices ended lower on Friday, May 8, as rising crude oil prices and geopolitical tensions between the United States and Iran weighed on investor sentiment. The benchmark indices, Sensex and Nifty 50, declined more than 0.5 per cent each, dragged down mainly by weakness in Banking and financial stocks. Meanwhile, crude oil prices surged above USD 100 per barrel, adding to concerns over inflation and global economic uncertainty.
Despite the weak market sentiment, several stocks are likely to remain in focus on Monday following key corporate developments and order wins.
1. Lumax Auto Technologies Ltd (LATL)
Lumax Auto Technologies Ltd (LATL) informed exchanges that its Board of Directors, at a meeting held on Friday, May 8, approved the sale of its entire 50 per cent stake in Lumax Jopp Allied Technologies Private Ltd to its joint venture partner, Jopp Holding GmbH, Germany. Following completion of the transaction, Lumax Jopp Allied Technologies Private Ltd will cease to be a joint venture of the company.
NBCC (India) Ltd secured a fresh order from the Odisha School Education Programme Authority, Bhubaneswar, Odisha. The company received the contract for implementation of the Godabarisha Mishra Adarsha Prathamika Vidyalaya (GMAPV) Scheme Phase-II across 46 schools in different districts of Odisha. According to the company’s exchange filing, the order size stands at approximately Rs 252.80 crore, excluding GST.
Bondada Engineering Ltd announced that it has received a Notification of Award (NOA) from NTPC Green Energy Ltd for execution of Balance of System (BOS) works for a 600 MW Solar PV Project at Fatehgarh, Rajasthan. The order covers Block-1 and Block-3 of the solar project. The company said this is its second order from the NTPC Group, taking cumulative order inflow to nearly Rs 1,207 crore, while cumulative project capacity has approached nearly 1 GW.
Disclaimer: The article is for informational purposes only and not investment advice.