GIFT Nifty hinted at a muted start for domestic indices BSE Sensex and NSE Nifty 50. Here’s a look at the top stocks in focus.
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Stocks in focus: The GIFT Nifty recorded a 0.10% loss during Friday’s early trading session, with a value of 19,537.5 indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex ended Thursday’s session in the green. The Nifty 50 advanced 29.45 points to 19,413.75 and the Sensex gained 0.25% to 65,558.89.
“Today’s domestic rally was supported by the contra bet buying of the IT stocks which was supported by stable margins, new generation business opportunities and moderation of USD, as latest US inflation is fast approaching the Fed’s target levels. The broad market was trading positively at the all-time high level in anticipation of buoyant Q1 result and low volatility (VIX). However, a mixed start to bank earnings, coupled with ongoing concerns about domestic inflation, attracted bearish sentiment towards the latter half,” said Vinod Nair, Head of Research at Geojit Financial Services.
Stocks to Watch on 14 July, 2023
Wipro
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IT major Wipro posted a profit of Rs 2870.10 crore for the first quarter of financial year 2023-24, up 12% in comparison to Rs 2563.60 crore during the same period last year.
Federal Bank
Federal Bank reported its fiscal first quarter profit forFY24 at Rs 880.12 crore, up 38.8% on-year from Rs 634.22 crore during the corresponding quarter in the last financial year, beating analyst expectations.
Patanjali Foods
Patanjali Ayurved’s offer to sell shares of Patanjali Foods received a good response, with the portion set aside for non-retail investors getting subscribed more than two times. Additionally, Patanjali Foods decided not exercise the greenshoe option in its OFS and to divest only 2.53 crore shares or 7%.
Rail Vikas Nigam
Rail Vikas Nigam received a letter of award from National Highways Authority of India for the rehabilitation and upgradation from 4 to 8 laning of the Chandikhole – Paradip section of NH-53 in the state of Odisha. The total consideration for this project is Rs 808.5 crore.
Bandhan Bank
Shares of Bandhan Bank will be in focus as the lender is set to announce its first quarterly earnings for the current financial year on 14 July.
CSB Bank
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FII Omers Administration Corporation offloaded its entire stake in CSB Bank via open market transactions on 13 July. 20.89 lakh shares were sold at the price of Rs 295.02 per share, while 15 lakh shares were divested at Rs 295 apiece.
DLF
DLF’s board of directors approved a dividend payout of Rs 4 per share, with the record date set as 28 July. The dividend, following shareholder approval, will be paid on or before 2 September.
