GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down by just 12.50 points or 0.06% at 21,766.50 indicating negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 gainned 141.25 points or 0.66% to settle at 21,658.60, while the BSE Sensex ended higher by 490.97 points or 0.69% to 71,847.57.
“The Nifty’s swift recovery following two bearish days indicates continued dominance by the bulls in the market. The present sentiment suggests a promising trajectory towards 21800-21850 for the Nifty. If it surpasses 21850, we might anticipate a further climb toward 22000. Notably, the index appears to have a short-term support level around 21500. A downward shift would likely initiate only if it falls below this mark; until then, it seems favorable for buyers to take advantage of market dips,” said Rupak De, Senior Technical Analyst at LKP Securities.
Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Infosys, Coal India, Bank of Baroda, Maruti Suzuki, Tata Steel
Stocks to Watch on January 05, 2024
Dabur
Dabur India forecasts a mid-to-high single-digit revenue growth in Q3, primarily propelled by the flourishing food business. The food and beverage category is poised for high-single-digit expansion, while the home and personal care division is expected to achieve record growth in the mid-single digits.
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Grasim Industries
Grasim Industries has priced its Rs 4,000-crore rights issue at Rs 1,812 per share, presenting a 12.47% discount to the prevailing market price. The rights issue, involving up to 2.2 crore shares on a partly-paid basis, aims to further strengthen the company’s financial position.
Jupiter Wagons
Jupiter Wagons secures a substantial order worth Rs 473 crore from the Ministry of Defence for the manufacturing and supply of 697 Bogie open military wagons, marking a significant development in the defense sector.
State Bank Of India
State Bank of India concludes the placement of a BBB-rated Green Bond valued at $250 million, reflecting the bank’s commitment to sustainable financing practices.
Lupin
Lupin receives tentative approval from the USFDA for Dapagliflozin and Saxagliptin tablets, positioning the pharmaceutical major to market a generic equivalent of AstraZeneca AB’s Qtern tablets.
REC
REC Power Development and Consultancy, a unit of REC, signs a Memorandum of Understanding (MoU) worth Rs 2,094 crore with the Gujarat Government for the implementation of a smart metering project in Paschim Gujarat Vij Company.
Power Finance Corp
Power Finance Corp increases its market borrowing plan for FY24 to Rs 1.05 lakh crore from the earlier Rs 80,000 crore, signaling confidence in the financing landscape.
L&T Finance Holdings
L&T Finance Holdings projects a robust performance in its retail segment, estimating a retail loan book of Rs 74,750 crore (up 31% YoY), retail disbursement of Rs 14,500 crore (up 25% YoY), and a portfolio realization of 91% by the end of Q3. The company successfully raises Rs 500 crore through private placement of non-convertible debentures.
RBL Bank
RBL Bank reports a 13% YoY increase in total deposits (Rs 92,743 crore) and a 20% YoY growth in gross advances (Rs 81,870 crore), with a CASA ratio of 33.8%, showcasing steady progress.
Brightcom Group
Vijay Kancharla resigns as Chief Investment Officer and Executive Director of Brightcom Group, citing personal reasons, effective January 2.
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Utkarsh Small Finance Bank
Utkarsh Small Finance Bank reveals a robust financial performance, with a 30.8% YoY surge in the gross loan portfolio (Rs 16,408 crore) and a 17.6% YoY increase in total deposits (Rs 15,111 crore), while maintaining a CASA ratio of 20%.
Waaree Renewable Technologies
Waaree Renewable Technologies announces its consideration of a stock split in an upcoming board meeting scheduled for January 20.
Jammu and Kashmir Bank
Jammu and Kashmir Bank reports a 9% YoY rise in total deposits (Rs 1.28 lakh crore) and a 14.1% YoY increase in gross advances (Rs 93,626 crore), with a CASA ratio of 50.59%, showcasing a robust financial performance.
