<ul><li>The SGX <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> was trading nearly a percent higher.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid mixed cues from the global market, Indian stock-market indices are likely to open lower on Friday. On Thursday, the Dow Jones Industrial Average fell 0.29% or 80.12 points, due to the newly-released US unemployment data. However, at 8:05 am, the SGX Nifty was trading nearly a percent higher. These are the <keyword id="6354298" type="DEFINITION" weightage="20" keywordseo="Stocks">stocks</keyword> to watch out for during the trading session on August 14: <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> Domestic steel major Tata Steel posted a consolidated net loss of ₹4,648.13 crore for the quarter ended June, mainly on account of reduced income. However, on a standalone basis, the company managed to maintain profitability despite a significant reduction in income. According to the filing, Tata Steel posted a standalone net profit of ₹1,193.27 crore in the quarter under review, down from ₹ 1,538.99 crore last year. The shares of Tata Steel ended flat yesterday. <keyword id="44555" type="CITY" weightage="20" keywordseo="BPCL">BPCL</keyword> Bharat Petroleum Corporation Ltd (BPCL), the highlight among the host of state-run companies put on the block by the government reported a 93% increase in its standalone net profit for the April-June quarter at ₹2,076.17 crore. The rise in profits was largely backed by a 43.22% fall in its total expenditure during the period under review to ₹48,284.06 crore. The shares of BPCL ended nearly 1% lower yesterday. <keyword id="6357252" type="UNKNOWN" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> The country’s largest two-wheeler maker Hero posted a 95.38% decline in consolidated net profit at ₹57.78 crore for the first quarter ended June 30, on account of lower sales due to the coronavirus pandemic. The total income during the quarter under review declined to ₹3,119.22 crore as compared with ₹8,410.41 crore in the year-ago period. The shares of Hero ended nearly 2% lower yesterday. <keyword id="80296" type="CITY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> Eicher Motors arm VECV acquired Volvo Group’s bus business in India for ₹100.5 crore. Definitive agreements have been signed for the integration of Volvo Bus India (VBI) business into VECV, Eicher Motors said in a statement. The company also reported a consolidated net loss of ₹55 crore for the first quarter ended June 30, with sales adversely hit due to COVID-19 pandemic. The shares of Eicher ended over 2% lower yesterday. Bank of India The board of the Bank of India has approved raising up to ₹8,000 crore by preferential issue, QIP, further public offer, etc. The shares of BoI ended over 1% lower yesterday. Jindal Steel and Power Jindal Steel and Power Ltd (JSPL) has started supplying head hardened (HH) rail to Rail Vikas Nigam Ltd (RVNL) for the Kolkata Metro’s Joka-Esplanade corridor. HH rails are used in high-speed freight corridors and metro rail projects. In a statement, JSPL said the company was selected by RVNL after a bidding process to supply 3,000 tonnes of HH rails for Kolkata metro rail tracks. The shares of JSPL ended nearly 2% higher yesterday. SpiceJet and IndiGo SpiceJet's passenger load factor in July was at 70% up from 68% in June. However, the market share declined from 16.8% in June to 15.7% in July. Similarly, IndiGo's passenger load factor in July was almost flat at 60.2%. However, its market share in July was up at 60.4% compared to 52.8% in June. The shares of SpiceJet and IndiGo ended over 2% and 12% higher, respectively, yesterday. Hindalco, Berger Paints, Glenmark Pharmaceuticals, Voltas These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/eicher-motors-registers-first-ever-net-loss-of-55-crores-in-at-least-a-decade/articleshow/77526012.cms" data-type="tilCustomLink">Eicher Motors registers first-ever net loss of ₹55 crore in at least a decade</a> <a href="https://www.businessinsider.in/business/startups/news/masayoshi-son-best-bet-for-future-profit-is-paypay-in-japan-built-on-vijay-shekhar-sharma-paytm-model-in-india/articleshow/77518892.cms" data-type="tilCustomLink">Masayoshi Son’s best bet for future profit is PayPay in Japan⁠ — built on Vijay Shekhar Sharma’s Paytm model in India</a>

Top stocks to watch today—IndiGo, SpiceJet, Hero MotoCorp, BPCL, Tata Steel, Glenmark Pharma and others

<ul><li><keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">Budget</keyword> is a non-event for equity markets, say experts, as indices traded flat with negative bias.</li><li>PSU Bank stocks rallied as bond markets cheered FM’s fiscal consolidation path.</li><li>Railway stocks which gained ahead of the speech, closed in the red. </li></ul>India’s Interim Budget 2024 did not enthuse the stock markets on Thursday, even as the finance minister increased FY25’s capital outlay by 11.1% to ₹11.11 lakh crore. The benchmark indices traded flat for the most of the session. Sensex fell by 100 points and <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> by 28 points as they did not find any cues for upward march. Almost all the sectoral indices closed in the red except banks, especially PSU banks. Bond markets cheered and their yields came down sharply as FM set the fiscal deficit of FY25 at 5.1% of GDP. It also triggered buying in PSU banks with Punjab Sind Bank going up by 7%. UCO Bank and Indian Overseas Bank also went up around 6% each. "As expected, VIX has cooled off after the budget event which primarily has been a non-event for most of the market except PSU Banks and auto stocks which have seen most of the buying action. Nifty still trades near to its resistance area of 21,750-21,800 along with dominant shorts in index futures from FIIs. Bulls have to clear this area for any further action on the upside,” said <keyword id="19950185" type="General" weightage="20" keywordseo="rahul-sharma" source="keywords">Rahul Sharma</keyword>, head of technical and derivatives research, JM Financial Services. The rest of the market moved on non-Budget cues. Auto stocks were also amongst those closed in the green as they released sales data. Maruti announced its earnings on Wednesday, and was one of the top gainers on Nifty; along with Cipla, Eicher, Power Grid and SBI Life. PayTM was locked in the lower circuit as RBI imposed restrictions on it on Wednesday. Infra &amp; realty flat, rail stocks in the red The FM touched up on most infrastructure projects including rural housing and solar power. She also announced three railway economic corridors — energy, mineral and cement corridors; port connectivity corridors, and high traffic density corridors. “The announcement in the Union Budget 2024 regarding the upgrade of 40,000 regular rail bogies to Vande Bharat standards marks a significant milestone in India's railway modernization journey,” said <keyword id="20418142" type="General" weightage="20" keywordseo="vivek-lohia" source="keywords">Vivek Lohia</keyword>, Managing Director, Jupiter Wagons. Experts also see many positive cues in the Budget for sectors relating to infrastructure and construction. "The boost to housing is another important proposal from the market perspective since this will benefit industries like cement, steel and all construction related segments," said Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. While companies and experts are impressed with the announcements, infrastructure and real estate stocks traded flat. Rail stocks like Jupiter Wagons, Ircon, IRCTC, IRFC and RVNL which traded in the green ahead of the budget announcement, fell into the red after the speech. The Nifty Midcap Index has also been trading with a negative bias since the morning, closed 0.6% below on Thursday. Most sectors which have been in the overbought range has been profit-booking, say experts. “Nobody was expecting any major announcement in this Budget and hence we saw a range-bound trend with a negative bias. Global markets too were subdued and hence select profit-taking was seen in telecom and realty stocks,” said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, senior VP of research at Mehta Equities. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[ ]]></cdata></div>

Nifty, Sensex remain unenthused by Interim Budget 2024 as bonds rally

<ul><li>Market is hoping that the government will continue with its push for schemes like Atmanirbhar Bharat, Make in India, and the PLI.</li><li>Capex spending is not expected to be as high as FY24 but is expected to be in the range of 10-20% higher than the year before.</li><li>Along with infra push, rural economy driven schemes are expected to receive allocations as it has been under the cloud of a weak monsoon. </li></ul>Union finance minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> set the stage for low expectations from the upcoming Interim Budget, insisting that there would be no spectacular announcement. The interim budget allows the incumbent government to undertake expenditures till a new government is formed after general elections. The stock markets too have not been expecting much from it either. After BJP’s wins during state elections drove a rally, they hope the government will keep pushing along the path of fiscal consolidation. Investors expect the government will provide impetus to key policy reforms such as Atmanirbhar Bharat, Make in India, and the PLI scheme in FY25. “The impact of the Union Budget on the equity market has reduced notably over the past few years, with the government undertaking most of the reforms outside the purview of the Budget. Nonetheless, the market participants continue to view it as a critical catalyst stimulating the growth of the Indian economy and, thereby, the Indian market,” said <keyword id="20204942" type="General" weightage="20" keywordseo="pranav-haridasan" source="keywords">Pranav Haridasan</keyword>, MD and CEO, Axis Securities. The Big Question of public capex The Indian government’s capex push in FY24 has aided large-scale infrastructure growth. This helped mid and small cap companies gain ground as private capex is still elusive. Any announcements on this side could be market movers. “Major public capex is unlikely since the FM has to achieve the fiscal deficit target of 5.9% for FY24 targeted in the 2023 budget. Also the massive public expenditure done through the budget provision last year has helped in triggering growth in the Indian economy. Therefore, the government’s priority would be to achieve fiscal discipline,” opines Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. While the FY24 Union Budget saw a 35% rise in capex spending, this time the market hopes it to be anywhere around 10-20%. Its focus is likely to continue to be on infrastructure like roads, water, metro, railways, defense, digital infrastructure, and green technologies. All which will drive investment-driven growth. Driving the rural economy A few experts also believe that the government might give the rural economy a much needed push as it’s not fully recovered from the pandemic. Particularly because buoyant tax collections have kept India’s fiscal situation of FY24 in a good stead. “We expect the government to stick to its path of fiscal consolidation, without compromising on quality of expenditure. In the wake of weaker monsoon and pressure seen in Rabi sowing season, focus will be on providing support to rural growth. Important schemes such as PM-KISAN, MGNAREGA, Housing for all, free food grains, will continue to hold significant importance,” said <keyword id="20368299" type="General" weightage="20" keywordseo="sonal-badhan" source="keywords">Sonal Badhan</keyword>, economist at Bank of Baroda. If the rural economy gets a boost, it will be a positive for FMCG majors like HUL, Marico, Dabur whose volume growth has been sluggish for the last few quarters. It will also aid as well as <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero Motocorp</keyword>, M&amp;M, while continued infra push can be good news for L&amp;T, RVNL, IVRCL, Tata Power and more. Market experts also believe that if the government tightens its belts, and chugs along the path of fiscal discipline, it spells good news for global investors. Marzban Irani, CIO, Fixed Income at LIC Mutual Fund Asset Management worries that popular measures ahead of the elections may play spoilsport. "Normally, we do not expect any path breaking policy announcements in an interim budget. But there is always scope for unconventional moves. In my view, the Centre should try to adhere to the fiscal deficit target as it gives a clear signal to global investors,” Irani added.

Interim Budget 2024: Markets don’t expect big bang measures but hope infra & rural push to continue

Two <keyword id="10926" type="General" weightage="80" keywordseo="reliance" source="Orion">Reliance</keyword> group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in <keyword id="8109735" type="General" weightage="80" keywordseo="lotus-chocolate" source="Orion">Lotus Chocolate</keyword>. The firms will together acquire 33.38 lakh shares of <keyword id="71296" type="General" weightage="100" keywordseo="lotus" source="Orion">Lotus</keyword> Chocolate from the open market at a fixed price of ₹115.50 per share, said a notice by DAM Capital, which is managing the offer. The offer will aggregate to a total consideration of ₹38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday. The open offer starts on February 21 and closes on March 6, said the public notice. Shares of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives, had on Thursday closed at ₹149.35 apiece, which was the highest price in the last three months. RCPL is the FMCG arm and a wholly-owned subsidiary of RRVL. The open offer follows RCPL's announcement last week for the acquisition of 51% stake of the paid-up equity share capital of Lotus from the current promoter and promoter group at a price of ₹113 per share aggregating to ₹74 crore. After that, RCPL made a public announcement to acquire 26% stake in Lotus in accordance with the SEBI Takeover Regulations. RRVL is a subsidiary of Mukesh Ambani-led Reliance Industries and is the holding company of all the retail businesses under the <keyword id="6484187" type="General" weightage="50" keywordseo="ril" source="Orion">RIL</keyword> group. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jio-5g-services-are-now-available-across-72-indian-cities/articleshow/96788447.cms">Jio 5G services are now available across 72 Indian cities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lt-rvnl-ril-and-other-stocks-in-focus-on-friday/articleshow/96780357.cms">Sensex, Nifty50 to open flat amid concerns of further rate hikes – L&amp;T, RVNL, RIL and other stocks in focus on Friday</a>

Reliance makes open offer to acquire 26% stake in Lotus Chocolate

Seoul, Amid a stable Covid situation, <keyword id="5565" type="General" weightage="20" keywordseo="south-korea" source="Orion">South Korea</keyword> on Monday finally lifted its years-long mask mandate for public transportation. Wearing a mask is no longer mandatory on public transportation, such as buses, the subway or taxis, as one of the last-remaining Covid-19 restrictions came to an end in the country's efforts to return to pre-pandemic normalcy, reports Yonhap News Agency. The decision came two years and five months after the government made it mandatory to wear a mask on public transportation in October 2020 at the height of the pandemic. The mandate however, remains in place for medical facilities, pharmacies and other vulnerable facilities, such as nursing homes. Pharmacies at open public spaces, such as discount stores or train stations, will be exempt from the mask requirement. The first day of the mask mandate's lifting on transportation coincided with a fine dust advisory issued across Seoul, causing some to give up or delay enjoying life without a mask. Government and health authorities have "actively" recommended mask wearing for public transportation users during rush hour, high-risk groups, and those having symptoms. Also on Monday, South Korea's new Covid-19 cases fell to the lowest daily tally in about nine months. The country reported 3,930 new infections, including 14 cases from overseas, bringing the total caseload to 30,702,960, the Korea Disease Control and Prevention Agency (KDCA) said. The figure is the lowest since June 27, 2022, when the tally stood at 3,419. The KDCA reported nine Covid fatalities, raising the death toll to 34,171. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-rvnl-reliance-industries-among-stocks-to-watch/articleshow/98792050.cms">Sensex, Nifty50 likely to open lower on negative global cues: Adani Enterprises, RVNL, Reliance Industries among stocks to watch</a> <a href="https://www.businessinsider.in/finance/news/credit-suisse-will-be-taken-over-by-banking-giant-ubs-says-swiss-government/articleshow/98791029.cms">Credit Suisse will be taken over by banking giant UBS, says Swiss government</a> <a href="https://www.businessinsider.in/business/corporates/news/hindenburg-fallout-adani-group-suspends-work-on-rs-34900-cr-petchem-project/articleshow/98790638.cms">Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project</a>

South Korea lifts years-long mask mandate for public transportation

The Mumbai Police has registered an FIR against gangsters <keyword id="568555" type="General" weightage="80" keywordseo="lawrence-bishnoi" source="Orion">Lawrence Bishnoi</keyword> and Goldy Brar and another person after an e-mail threatening actor <keyword id="6354583" type="General" weightage="100" keywordseo="salman-khan" source="Orion">Salman Khan</keyword> was received at his office in the city, an official said. The sender of the e-mail, written in Hindi, said: "Goldy Bhai (Goldy Brar) wanted to talk with Salman <keyword id="6355601" type="General" weightage="80" keywordseo="khan" source="Orion">Khan</keyword> face to face to close the matter", adding, "Agli baar, jhatka dekhne ko milega (You'll see something shocking)". Apart from Bishnoi and Brar, the First Information Report, which was registered on Saturday, names one Rohit, the official said on Sunday. Bishnoi, currently lodged in the Bathinda jail, and Goldy Brar are accused in the Punjabi singer <keyword id="6408469" type="General" weightage="50" keywordseo="sidhu-moosewala" source="Orion">Sidhu Moosewala</keyword> murder case. The complaint was lodged with Bandra Police by one <keyword id="1255368" type="General" weightage="50" keywordseo="prashant-gunjalkar" source="Orion">Prashant Gunjalkar</keyword>, who according to police frequently visits the Bandra-based residence of Khan and runs an artist management company. When Gunjalkar was present in Khan's office in Galaxy Apartment on Saturday afternoon, he noticed an email had come from the ID "Rohit Garg", the official said quoting the FIR. The e-mail stated Salman Khan must have seen the interview given recently to a news channel by Lawrence Bishnoi, and if not, he should see it. Addressing Gunjalkar, it said if Khan wants to close the matter, he should talk face-to-face with Goldy bhai, adding "there is still time but agli bar, jhatka dekhne ko milega". The FIR was registered under sections 120-B (Punishment for criminal conspiracy), 506-II (Punishment for criminal intimidation) and 34 (common intention) under the Indian Penal Code. An interview with Bishnoi was broadcast recently by a private news channel. Notably, in June 2022, an unidentified person had threatened Salman Khan via a handwritten note. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-rvnl-reliance-industries-among-stocks-to-watch/articleshow/98792050.cms">Sensex, Nifty50 likely to open lower on negative global cues: Adani Enterprises, RVNL, Reliance Industries among stocks to watch</a> <a href="https://www.businessinsider.in/finance/news/credit-suisse-will-be-taken-over-by-banking-giant-ubs-says-swiss-government/articleshow/98791029.cms">Credit Suisse will be taken over by banking giant UBS, says Swiss government</a> <a href="https://www.businessinsider.in/business/corporates/news/hindenburg-fallout-adani-group-suspends-work-on-rs-34900-cr-petchem-project/articleshow/98790638.cms">Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project</a>

Salman Khan threat: Mumbai cops file FIR against gangsters Lawrence Bishnoi, Goldy Brar

Mumbai, The Heavy Civil Infrastructure business of <keyword id="747920" type="COMPANY" weightage="20" keywordseo="LT-Construction">L&amp;T Construction</keyword> has emerged as the lowest bidder for a Package 4 of new broad-gauge line between <keyword id="47181" type="LOCATION" weightage="20" keywordseo="Rishikesh">Rishikesh</keyword> and <keyword id="1736871" type="PERSON" weightage="20" keywordseo="Karnaprayag">Karnaprayag</keyword>, sources privy to the development said. The scope of this <keyword id="27859" type="ORGANIZATION" weightage="20" keywordseo="engineering">engineering</keyword> and construction project includes completing <keyword id="1363043" type="PERSON" weightage="20" keywordseo="Tunnel-Work">tunnel work</keyword> by Tunnel Boring Method (TBM) and New Austrian Tunnel Method (NATM) with formation, construction shaft and ancillary works from Chainage 47+360 to 63+117 Km in the Himalayan State of Uttarakhand. This will be the biggest Tunnel Boring Machine to be deployed in the Himalayan geology and the TBM bored tunnel length of 20.807 km is the maximum in any project in the region. The purpose of providing rail link between Rishikesh and <keyword id="831041" type="PERSON" weightage="20" keywordseo="Karanprayag">Karanprayag</keyword> is for facilitating easy access to pilgrimage centres situated in Uttarakhand, connecting new trade centre, development of hinterlands to serve the population there. The railway line traverses "very rugged Himalayan terrain", with the alignment oriented across and sometimes sub parallel to the major thrust zones of Himalaya with complex geological conditions. Project involves construction of 14.577 km upline and 13.123 km downline tunnel with embankment of approximately 800 meters at both ends. Out of 14.577 and 13.123 km; 10.49 Km and 10.317 km of tunnel will be excavated using two Brand New Hard Rock Tunnel Boring Machines (TBMs) of diameter 9.1 meters and balance tunnel will be excavated by <keyword id="1203105" type="COMPANY" weightage="20" keywordseo="New-Austrian-Tunnelling-Method">New Austrian Tunnelling Method</keyword> (NATM). The scope also includes construction of an Ellipsoidal construction cum Ventilation shaft of finished cross section of 79 square meters and depth of 32 meters. The company is already engaged in the construction of Rishikesh - Karanprayag Tunnel 2 package by RVNL comprising tunnels, bridges and formation works. This project, won by the Heavy Civil Infrastructure business of the company in December 2019, consists of the main tunnel with parallel escape tunnel and ballast-less track that runs inside the main tunnel. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-hdfc-tech-mahindra-lt-bajaj-finance-iifl-securities-sun-pharma-and-others/articleshow/80107597.cms">Top stocks to watch — HDFC, Tech Mahindra, L&amp;T, Bajaj Finance, IIFL Securities, Sun Pharma, and others</a> <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/india/news/bharat-biotech-sees-rivals-conspiracy-in-all-the-criticism-for-the-approval-for-covaxin/articleshow/80099818.cms">Bharat Biotech sees rivals’ conspiracy in all the criticism for the approval for Covaxin</a>

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Top stocks to watch today—IndiGo, SpiceJet, Hero MotoCorp, BPCL, Tata Steel, Glenmark Pharma and others

Navdeep Yadav