Stocks To Watch Today: Markets Rattle as India-Pakistan Tensions Flare; Titan, L&T, BPCL, &.... in Focus - Check Here
Amid rising geopolitical tensions along the India-Pakistan border, Indian stock markets opened sharply lower on Friday, with key stocks such as Titan, L&T, Paytm, and BPCL making headlines due to corporate actions, financial results, and project developments.
Pharma major Lupin secured US FDA approval for Raltegravir tablets, bolstering its generics portfolio in the United States.
The Indian stock markets opened on a weak note on Friday, 9 May, as heightened geopolitical tensions between India and Pakistan weighed heavily on investor sentiment. The Sensex fell by 463.18 points to open at 79,871.63, while the Nifty 50 slipped 141.50 points to 24,132.30. The Gift Nifty signalled a gap-down start, reflecting a 298-point discount from the Nifty futures' previous close, underlining broader regional nervousness following drone incursions near the International Border in Jammu and Kashmir.
Among the stocks in focus, Larsen & Toubro (L&T) reported a 25 per cent year-on-year rise in Q4 consolidated net profit to Rs 5,497 crore, with revenue up 11 per cent to Rs 74,392 crore. EBITDA rose 13 per cent, and the company declared a final dividend of Rs 34 per share.
Titan Company, another Tata Group firm, announced a 10.7 per cent jump in Q4 net profit to Rs 870 crore, driven by a 19.7 per cent increase in revenue. Its EBITDA rose nearly 30 per cent, with the board recommending a dividend of Rs 11 per share.
Bharat Petroleum Corporation Ltd (BPCL) awarded contracts for developing 100 MW of wind energy projects in Madhya Pradesh and Maharashtra, as part of its broader renewable energy push. Suzlon Energy, a key player in wind turbine manufacturing, received a Letter of Award from BPCL for the Madhya Pradesh project.
One97 Communications (Paytm) came under regulatory focus, as its CEO Vijay Shekhar Sharma and his brother Ajay Shekhar Sharma settled a Securities and Exchange Board of India (SEBI) case related to ESOPs by paying Rs 2.8 crore. The resolution brings some regulatory clarity ahead of Paytm’s earnings season.
Pharma major Lupin secured US FDA approval for Raltegravir tablets, bolstering its generics portfolio in the United States.
Meanwhile, Coal India signed a non-binding Memorandum of Understanding with AM Green to secure long-term renewable energy supply, reflecting the PSU’s increasing commitment towards energy transition.
Adani Power and Adani Green Energy, part of the Adani Group, signed a strategic MoU with Bhutan's Druk Green Power Corporation to develop 5,000 MW of hydropower projects, enhancing cross-border energy cooperation.
From a real estate and infrastructure standpoint, Brigade Enterprises acquired 11 acres in Bengaluru’s Whitefield area for a Rs 2,000 crore premium commercial project, while Viceroy Hotels entered a 30-year operational agreement with Marriott Hotels India for a new Hyderabad property.
In financial services, Mahindra and Mahindra Financial Services announced a rights issue worth Rs 2,996.16 crore, offering eligible shareholders one share for every eight held, at a price of Rs 194.
On the broader indices, analysts remain cautious. “As long as the Sensex remains below 80,900, we can expect weakness to persist,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities. Hrishikesh Yedve, of Asit C. Mehta Investment Intermediates Ltd., noted that Bank Nifty faces pressure and consolidation is likely before any potential rebound.
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Samannay Biswas author
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