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Dalal Street remained cautious ahead of the US Fed meeting, with Sensex and Nifty flat; Bajaj Housing Finance continued its rally.

With interest rate cuts expected this year, non-banking financial companies (NBFCs) are set to benefit significantly. Analysts highlight the potential for growth in NBFC assets under management, especially in consumer finance and gold-based lending. Stocks like Bajaj Finance, M&M Financial Services, and Shriram Finance are recommended for investment due to their strong asset quality and favorable loan compositions.

The Nifty Realty index, representing top real estate stocks, has declined by 7% over the past three months due to election-related delays in project approvals and launches. Despite this, some stocks remain strong performers. Experts anticipate that interest rate cuts and the festival season could boost real estate demand.

​So, should that happen in the US, that would give room to the policymakers here in Asia, particularly RBI to cut rates. Because there is growth slowdown and I have been in India for the last couple of days and there are visible signs of slowdown, whether it is real estate in northern India or consumption part of the economy.

Investors are split on whether the Fed will kick off its easing campaign with a standard 25 basis point cut or a larger one. A half-point reduction may raise doubts about the health of the US economy, outweighing any enthusiasm about a stimulatory effect from the cut.

Nandan Denim, a multibagger small-cap company, is attracting attention today as the board of directors has set September 19 as the record date for its 1:10 stock split. Consequently, today is the last opportunity for investors to purchase shares and qualify for the split. The company had approved the share sub-division earlier in June before announcing the record date in September.

September 2024 has already seen Nifty falling by 1.19% (till 9th Sep’24) tracking weak macro data from the US, deepening China-U.S. trade disputes, unpredictability surrounding the U.S. presidential election, and a dearth of stimulus policies from China to spur economic expansion.

Investors including Quadria Capital and Denmark-based pharmaceutical major Novo Nordisk are among those interested in a minority stake and engaged in early discussions, they said. In February, Novo Holdings, the holding company of Novo Nordisk, acquired US-based publicly-listed contract development and manufacturing organisation Catalent for $16.5 billion.

Mankind Pharma is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations and consumer healthcare products.

Torrent Power has received Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co. Limited (MSEDCL) for procurement of 1,500 MW/ 12,000 MWh energy storage capacity for pumped hydro storage project.