GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded at 20,029 up 166 points or 0.84%, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 95 points or 0.48% to settle at 19,889.70, while the BSE Sensex jumped 204 points or 0.31% to 66,174.21.
“After last week’s range-bound trend, markets registered gains led by uptick in power, metal and auto stocks as hopes of strong growth momentum going ahead and receding worries of rate hikes in the US strengthened the mood. FIIs turning net buyers of local equities in the last few sessions too has brought some cheers to the market, even as caution could prevail in next few sessions ahead of monthly F&O expiry and exit poll results of five state elections later this week. Technically, Nifty could find support in the 19,797-19,689 range and resistance at 20,000-20,551,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
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Stocks to Watch on November 29, 2023
Bharat Heavy Electricals
BHEL and Electricité de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide, have signed a Memorandum of Cooperation (MoC) to explore the opportunity to maximize the local content of the Jaitapur Nuclear Power Plant Project (6×1650 MWe) to be established by NPCIL in India, the company said in a regulatory filing.
Zomato
Chinese payments group Alipay plans to sell its 3.4% stake in Indian food delivery giant Zomato (ZOMT.NS) for nearly $400 million through block deals on Indian stock exchanges, reported Reuters. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed.
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Tata Power
The company’s subsidiary Tata Power Renewable Energy bagged a 200 MW firm and dispatchable renewable energy (FDRE) project from SJVN. FDRE provides round-the-clock power supply and supports the discoms in meeting renewable purchase obligation (RPO) and energy storage obligation (ESO), Tata Power said in a regulatory filing.
Siemen
The company posted a 36% rise in net profit at Rs 534 crore in the September quarter compared to the year ago, mainly on the back of higher revenues. The company, which follows the October to September fiscal year, had reported a net profit of Rs 392 crore a year ago, a company statement said.
Indian Renewable Energy Development Agency
The shares of IREDA are scheduled to make their debut on the bourses today.
JSW Steel
The company has paid a penalty of Rs 2,79,718 levied by the Reserve Bank of India on the erstwhile JSW Ispat Special Products Limited (JISPL), in response to a Compounding application made by it for delayed filing of Form FC-GPR under Regulation 13.1(2) of FEMA Regulations 2017, in relation to issue of shares to a person resident outside India, the company said in the regulatory filing.
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Canara Bank
RBI has accorded approval to the bank for divesting its shareholding (70%) in its unlisted subsidiary Canbank Factors. Bank is exploring/evaluating the procedures with regard to same. Canara Bank is holding 69.14 % shares in its unlisted subsidiary, Canbank Computer Services (CCSL) and proposes to buy out shares of other shareholders i.e Bank of Baroda (BOB) and DBS Bank India (DBIL). Canara Bank is also exploring transferring the credit Card and other digital product portfolio of the Bank to CCSL, the Bank said in a regulatory filing.
(With agency inputs.)
