Top stocks to watch— Future Retail, IndiGo, SpiceJet, Tata Motors, IndusInd Bank, Coal India, Engineers India, Rossari Biotech, Vodafone-Idea and more

• At 8:00 am the SGX Nifty was trading flat pointing towards a cautious start for Nifty50.
• Here’s a list of stocks to watch for in trade today.
• Check out the latest news and updates on Business Insider.

Indian stock market is likely to open on a muted amidst mixed cues from global peers. At 8:00 am the SGX Nifty was trading flat pointing towards a cautious start for Nifty50.

Whereas, on Wednesday, US stocks ended higher. Dow Jones Industrial Average increased 1.59%, marking its best single-day rise since July 14.

Here’s a list of stocks to watch for in trade on September 3:

Future Retail

Fitch placed Future Retail on ‘Rating Watch Positive’ after it sold a stake to RIL. It reflects the financial stress in the company, irrespective of the sale decision.

“Fitch Ratings has placed Indian retailer Future Retail Limited’s (FRL) Issuer Default Rating (IDR) of ‘C’ and the rating on its USD500 million 5.6% senior secured notes due in 2025 of ‘C’ with a Recovery Rating of ‘RR4’ on Rating Watch Positive,” the company said.

The shares of Future retail ended 10% lower yesterday.

IndusInd Bank

IndusInd Bank in focus on back of fundraising plans. The bank has approved allotment of 47 million shares to marquee investors to raise ₹2,495.79 crore.

The Finance Committee of the board of directors at its meeting held on September 2 approved allotment shares of the face value of ₹10 each at a price of ₹524 per share.

The shares of IndusInd Bank ended 2.10% higher yesterday.

Engineers India

Order win boost likely for Engineers India. The company has received an order worth ₹4.48 billion from Gail India for setting up PP plant and pipeline at Uran.

The shares of Engineers India ended 1% higher on September 2.

Coal India

Coal India posted a 55% fall in its net profit, with revenue plummeting nearly 26% in the first quarter ended June 30. The company said its volume was impacted due to less demand as most of the industries were shut during the lockdown.

The shares of Coal India ended 2% higher on September 2.

Rossari Biotech

Plutus Wealth Management, a financial advisory company, based in London, bought nearly 3 lakh shares of the company at ₹773.82 per share.

The shares of Rossari Biotech ended 13% higher yesterday.

JSW Energy

JSW Energy promoter Glebe Trading released 84 lakh pledged shares of the company and the Danta Enterprises pledged 1.04 crore shares.

The shares of JSW Energy ended 7% higher yesterday.

Vodafone Idea

The Vodafone Idea board is due to meet tomorrow (September 4) for considering the fundraising proposal.

The shares of Vodafone Idea ended 13% higher yesterday.

SpiceJet, IndiGo, GVK and other aviation stocks

SpiceJet, Indigo, GVK and other aviation stocks will be in focus today as the India civil aviation ministry has raised domestic flight operations to 60%.

The shares of Indigo closed 4% higher, GVK was up 5%, whereas SpiceJet was trading flat yesterday.

Tata Motors

Tata Motors records 21.6% growth in overall domestic sales led by 154% growth in the passenger vehicle segment. Meanwhile the domestic commercial vehicles segment saw a decline of 28%.

The shares of Tata Motors closed 5% higher yesterday.

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