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Stocks in Focus: Vedanta, SpiceJet, Infosys and Others

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The GIFTY Nifty futures were trading in the green during the early hours before the opening of the markets on Wednesday. Domestic Indices are expected to open in a similar flat-to-positive range.

The S&P BSE Sensex extended its winning streak for the eighth straight session on September 12, whereas the NSE Nifty 50 ended the session lower after hitting a fresh all-time high. The Nifty lost 0.02% or 3.15 points to close at 19,993.20, while the Sensex settled at 67,221.13 with a gain of 94.05 points or 0.14% 

Here are some stocks that will likely be in the limelight on September 13.

SpiceJet: The budget airline operator said on Tuesday that it had completed the payment of Rs 100 crore to Kal Airways’ promoter Kalanithi Maran as part of a Rs 380 crore arbitral award order, following a Delhi High Court directive to fulfil the payment obligation. 

KEC International: The RPG Group company has secured new orders worth Rs 1,012 crore across its various business segments, including building a Data centre in Western India, setting up a manufacturing facility for a global FMCG major in Southern India, orders for T&D projects in India and the Americas, 765 kV Transmission line order in India from an existing private client and orders for supply of various types of cables in India and overseas.

Infosys: The IT major announced on Tuesday that it had inked a strategic multi-year deal with Europe’s largest retailer and distributor of building materials, STARK Group, to power the latter’s digital transformation journey for an undisclosed sum. The companies will collaboratively establish a state-of-the-art data centre in Denmark, which will serve as the foundation to drive technological advancements and provide seamless services to STARK Group’s offices across Europe.

L&T Finance Holdings: Private investment firm Bain Capital offloaded 7 crore equity shares, amounting to a 2.82% stake in the company for Rs 130 per share. SBI Life Insurance bought 1.46 crore shares, DSP Blackrock Mutual Fund bought 1.18 crore shares, Bajaj Allianz bought 31.87 lakh shares, Axis Mutual Fund bought 19.10 lakh shares, Key Square Master Fund bought 12.70 lakh shares and Lakshmi Capital Investments bought 8.09 lakh shares. 

Vedanta: Billionaire Founder and Chairman Anil Agarwal posted on X (formerly Twitter) that he plans to transfer Zambia’s Konkola Copper Mines from Vedanta Resources Ltd to the listed parent company Vedanta Ltd to create a fully integrated copper vertical and, eventually, a successful global copper company. 

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