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Top stocks to watch out for on September 12

Stocks
2 min Read Sep 12, 2024
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As investors gear up for a new trading day on September 12, several stocks are poised to capture attention. Here's a look at key players and market movements you might want to consider when deciding to buy shares online. 

Let's take a look at key stocks to watch:

  1. Route Mobile

Proximus Opal, one of the promoters of Route Mobile, is set to sell up to 38 lakh shares, equivalent to 6.03% of its equity, through an Offer for Sale (OFS) on September 12 and 13. The floor price for this sale has been set at ₹1,635 per share. With this major development, Route Mobile is likely to be in the spotlight for share market investors looking to capitalise on potential short-term price movements.

  1. Tata Steel

Tata Steel's stock is likely to experience positive momentum following news of a GBP 500 million funding agreement from the UK government. This funding aims to support the company's transition to greener steel production through the installation of an electric arc furnace (EAF) at the Port Talbot steelworks. Investors interested in long-term sustainability trends might find Tata Steel's commitment to green technology an attractive prospect for share market investment.

  1. IT Stocks

IT stocks could see a surge today, especially after the S&P 500 technology index gained 3.3% overnight in the US, with a notable rise in shares of Nvidia. The broader positive sentiment in the global tech sector is expected to reflect in the Indian share market as well. Investors eyeing tech-driven growth opportunities might consider focusing on key players in the IT sector.

  1. Honasa Consumer (Mamaearth)

Honasa Consumer, the parent company of Mamaearth, is set for a large block deal today. Reports suggest that existing investors will sell off up to 8.1% of the company's equity, valued at ₹1,260.7 crore, at a floor price of ₹480 per share. This move is anticipated to bring increased attention to the company, making it a stock to watch for those keen on the personal care and beauty industry.

  1. MapMyIndia

MapMyIndia, a leading player in digital mapping, has announced a strategic partnership with Zoomcar to enhance users' travel experience through seamless bookings and navigation via its Mappls app. This collaboration is expected to increase visibility for the company and boost investor confidence, especially in the tech-driven consumer services space.

Key takeaways

  1. Route Mobile: Proximus Opal's OFS at ₹1,635/share is likely to drive activity in the stock.

  2. Tata Steel: The £500 million green funding deal signals long-term potential, aligning with sustainability trends.

  3. IT Stocks: Positive momentum from the US tech sector could spill over into Indian IT stocks.

  4. Honasa Consumer: A large block deal valued at ₹1,260.7 crores could bring price volatility.

  5. MapMyIndia: A strategic partnership with Zoomcar might offer growth potential through expanded consumer reach.