GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down by 36 points or 0.16% at 21,812.50, indicating negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 dropped 47.30 points or 0.22% to settle at 21,731.40, while the BSE Sensex ended lower by 170.13 points or 0.23% to 72,240.26.
“Nifty remained sideways during the session, fluctuating within the range of 21650-21750. A doji pattern has formed on the daily chart, indicating indecisiveness in the market. This sentiment requires confirmation through a decisive breakout above 21750 or a breakdown below 21650. If it falls below 21650, the Nifty could potentially decline towards 21500. Conversely, if there’s sustained trading above 21750, the index might aim for 22000,” said Rupak De, Senior Technical Analyst at LKP Securities.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Will Nifty reclaim 24,900 on Thursday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Will Nifty hold 24,300 on Tuesday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility
Stocks to Watch on January 01, 2024
Grasim Industries
Grasim Industries has augmented its annual advanced materials capacity by an additional 1.23 lakh tons at the Bharuch plant in Gujarat. With a total capacity of 2,46,000 tons per annum.
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Dr. Reddy’s Laboratories
The global arm of Dr. Reddy’s Laboratories has acquired a 6.46% stake in the Israel-based biotechnology company Edity Therapeutics at $1.97 per share.
Aditya Birla Capital
Aditya Birla Capital has extended the completion timeline for the sale of a 50% stake in Aditya Birla Insurance Brokers until March 31, 2024. This extension is subject to approval from the Insurance Regulatory and Development Authority of India.
ACC
ACC has successfully commissioned a new cement manufacturing unit with a capacity of 1.0 MTPA at Ametha, Madhya Pradesh, reinforcing its position in the cement industry.
Hikal
The Gujarat Pollution Control Board has imposed a fine of Rs 17.45 crore on Hikal for alleged violations of environmental laws.
Torrent Power
Torrent Power has established a wholly-owned subsidiary dedicated to generating electricity from renewable sources in Gujarat, aligning with the company’s commitment to sustainable energy practices.
Edelweiss Financial Services
Edelweiss Financial Services unit, Zuno General Insurance, has received a GST demand amounting to Rs 32.39 crore along with penal interest of Rs 3.23 crore.
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SKF
SKF India has successfully acquired a 26.74% stake in Sun Strength Renewables for Rs 2.31 crore, strengthening its presence in the renewable energy sector.
Nazara Technologies
Nazara Technologies’ subsidiary has signed agreements to subscribe to a convertible note of Freaks 4U Gaming GmbH at a consideration of Rs 33.26 crore, to be paid in cash.
Oil India
Oil India has appointed Anfor Ali Haque as the resident chief executive, effective from January 1, signaling a key leadership change in the company.
Auto Stocks
Eicher Motors, Tata Motors, Here MotoCorp, Bajaj Auto, TVS Motors and other auto stocks to remain in focus as monthly sales numbers to be announced today.
