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New orders and project wins worth nearly Rs 670 crore could keep Texmaco Rail & Engineering, Man Industries (India) and Bondada Engineering in focus in Friday’s session.
✨ Key Takeaways
Indian benchmark indices ended higher on Thursday, September 10, but the recovery remained limited as global uncertainties continued to weigh on investor sentiment.
Persistent tensions in the Middle East kept crude oil prices above USD 100 per barrel, raising concerns over inflation and currency stability. Investors also remained cautious ahead of key US economic data and the upcoming Federal Reserve policy decision.
The Indian rupee extended its decline for the third consecutive session. Rising crude oil prices, higher dollar demand linked to derivatives maturities and corporate hedging pressure weighed on the currency.
However, buying interest during the closing auction helped the benchmark indices recover from their Intraday lows. The Nifty 50 closed above the 23,450 level, while the Sensex settled above 74,900.
Also Read - Apple's India Top Line Gains on iPhone Duo, Threatened by Price-Driven Volume Drop
At the close, the Nifty 50 gained 46.80 points, or 0.20 per cent, to 23,477.80. The Sensex advanced 138.38 points to close at 74,902.60.
Against this backdrop, here are the stocks that could remain in focus during Friday’s trading session.
1. Texmaco Rail & Engineering Ltd
Texmaco Rail & Engineering Ltd could remain in focus after receiving an order from Hindalco Industries Ltd.
According to the company, Hindalco Industries has awarded an order worth Rs 27.82 crore for the supply of one BTAP rake along with one brake van for the Aditya Expansion Project. The order is scheduled to be executed within eight months from the date of the purchase order.
Man Industries (India) Ltd has received new orders worth approximately Rs 600 crore. The company said the orders are expected to be delivered within six to nine months. Following the latest additions, its total unexecuted Order Book stands at approximately Rs 4,100 crore.
The new orders provide visibility for near-term execution.
Bondada Engineering Ltd has received a Letter of Intent through its joint venture with BEST Infra Private Ltd from Northern Power Distribution Company of Telangana Ltd (TGNPDCL).
The project has an approximate order value of Rs 41.01 crore and relates to the deployment of smart energy meters. The scope includes procurement, supply, installation, integration, testing and commissioning of smart energy meters. It also covers their operation and maintenance, PP Box maintenance and associated network operations and monitoring.
Under the project, the joint venture will deploy 12,500 single-phase smart energy meters and 27,500 three-phase smart energy meters, taking the total deployment to 40,000 meters. The project will use a cloud-based Head-End System, Meter Data Acquisition System and Meter Data Management System.
Disclaimer: The article is for informational purposes only and not investment advice.