Buzzing stocks: The SGX Nifty hinted at a positive start for Nifty and Sensex today. Here’s a look at the key stocks to watch in trade today.
Stocks in focus: The SGX Nifty recorded a gain of 0.25% during Friday’s early trading session, with a value of 18,807 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. On Thursday, snapping the three-day gaining streak, the domestic indices NSE Nifty 50 and BSE Sensex ended the day in the negative territory. Sensex fell 310.88 points to 62,917.63, while Nifty 50 slipped 0.35% to close at 18,688.10.
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“The domestic market is responding to the Fed’s hawkish commentary, which suggests the possibility of 2 more rate hikes in the future this year, although they have currently opted for a halt. Due to concerns about inflation persisting above their target range, Fed officials have increased their rate projections by 47.5bps for the end of 2023 to 5.6%. Despite weakness in the benchmark index, there is buying interest observed with the Nifty Mid-cap index trading at an all-time high,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks to Watch on 16 June, 2023
Ramkrishna Forgings, Titagarh Rail Systems
A consortium between Ramkrishna Forgings and Titagarh Rail Systems has been awarded the contract to manufacture and supply 1.54 million forged wheels over a span of 20 years, under the Atma Nirbhar Bharat Initiative by the Ministry of Railways, Government of India. The total contract is valued at Rs 12,226.5 crore.
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HCL Technologies
HCL Technologies’ board of directors will convene on 12 July to consider the payment of the second interim dividend for the financial year 2024, among other things.
Wipro
Wipro shares will turn ex-date for the IT player’s share buyback today. The firm is set to buyback up to 269,662,921 equity shares with a face-value of Rs 445 apiece. The company also announced the opening of its new 5G-Def-i Innovation Center in Austin, Texas, to provide services to help customers develop new products and services and realise the benefits of 5G technology.
TVS Motors
TVS Motor Company sold 11.12 crore equity shares or its 43.54% stake in Emerald Haven Realty for Rs 166.83 crore to TVS Holdings, a promoter group company.
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Equitas Small Finance Bank
Equitas Small Finance Bank has fixed 28 July as the record date for determining the eligibility of shareholders for a dividend, if approved.
Angel One, HDFC Life, Power Finance Corporation
Angel One, HDFC Life, and Power Finance Corporation shares will trade ex-dividend today.
BHEL
BHEL signed a memorandum of understanding (MoU) with Volvo Eicher Commercial Vehicles to jointly develop and deploy type-IV cylinders (Hydrogen/CNG) in the commercial vehicle segment alert.
