BSE Sensex and NSE Nifty 50 open higher; CEAT, YES Bank, HAL shares in focus on Monday

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Summary

Key stocks in focus include CEAT, YES Bank, and HAL, with significant developments such as investments, stake acquisitions, and defense orders driving investor interest.

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The Indian equity benchmarks opened higher on Monday, following the Asian indices' pattern.
The Indian equity benchmarks opened higher on Monday, following the Asian indices' pattern. | Credits: Fortune India

The Indian equity benchmarks opened higher on Monday, following the Asian indices' pattern.

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The BSE Sensex opened 260 points higher, seeing 0.32% rise during pre-open, at 81,567.08, while the NSE Nifty50 started at 24,949.15, up 79 points from Friday’s close of 24,870.10.

Asian indices also started the day with modest gains on Monday, following Federal Reserve chief Jerome Powell’s speech on Friday, signalling a rate cut on cards.

Here is a list of stocks to watch on the NSE and BSE today.

CEAT: Announced a $171 million investment to expand off-highway tyre capacity in Sri Lanka.

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YES Bank: YES Bank’s shares may see action after the lender announced that the Reserve Bank of India has granted approval to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to acquire up to a 24.99% stake. This comes after SMBC’s proposal to buy a 20% holding through a secondary stake purchase from SBI and seven other banks.

Brigade Enterprises: The recently listed company may be in focus on the markets today, as company’s chief financial officer Jayant B Manmadkar submitted his resignation citing personal reasons. Separately, the company launched “Brigade Lakecrest,” with a residential project near Bhattarahalli Lake in Bengaluru under a joint development model, revenue potential of ₹950 crore.

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Hindustan Aeronautics Ltd. (HAL): HAL may also be on the investors’ radar today as the Indian Navy has issued a request for information to procure 76 naval utility helicopters, boosting potential order flows for the defence company.

IndiGo and Max Healthcare: The two stocks are set to be in focus as NSE announced their inclusion to the NIFTY50 index from September 30, which may attract passive fund inflows.

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Mazagon Dock: Shares of Mazagon Dock Shipbuilders could attract investor attention as the Centre has approved negotiations for ₹70,000 crore submarine deal under Project 75 India, in collaboration with Germany, for building six submarines.

Hero MotoCorp and IndusInd Bank: Both stocks will be excluded from the NIFTY50 index effective September 30, a move likely to trigger selling pressure from index funds.

Reliance Communications, Reliance Power and Reliance Infrastructure: Reliance Communications confirmed that a search operation was conducted by Central Bureau of Investigation officials at the company premises on August 24. As a result, both stocks – Reliance Power and Reliance Infrastructure – will be in the spotlight given both the companies clarified in exchange filings that the recent CBI action against Reliance Communications has no impact on their operations, finances, shareholders, or employees. They stressed that they are independent listed entities with no business or financial linkage to Reliance Communications.