GIFT Nifty traded up by 126.50 points or 0.59% at 21,703 indicating positive opening for domestic indices. Here are the top stocks to watch for the day.
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 126.50 points or 0.59% at 21,703 indicating positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 dipped 197.80 points or 0.91% to settle at 21,513, while the BSE Sensex ended lower by 670.93 points or 0.93% to 71,355.22.
“Nifty ended the day close to its support at 21,500 and the short-term 14-day moving average, accompanied by a bearish engulfing candlestick pattern. This indicates a change in market sentiment. If 21,500 is breached in closing figures, Nifty may move towards the next support level at 21,200. The support of 21500 if held can see recovery towards 21650 which is the immediate hurdle zone,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Read More: Tata Steel Fixes Record Date To Allot Shares To TCIL Shareholders
Stocks to Watch on January 09, 2024
Bajaj Auto
Bajaj Auto has greenlit a Rs 4,000-crore buyback via a tender offer, intending to repurchase 40 lakh fully paid-up equity shares at Rs 10,000 apiece, with a face value of Rs 10 each.
Adani Group
Adani Group has signed a Memorandum of Understanding (MoU) for a substantial investment of over Rs 42,700 crore in various projects in Tamil Nadu.
Zee Entertainment
Bloomberg reports that Sony Group is contemplating calling off the $10 billion merger pact with Zee Entertainment Enterprises.
Read More: Kalyan Jewellers shares rise 4% post Q3 business updates; check details
Eicher Motors
Royal Enfield, a unit of Eicher Motors, has signed a non-binding MoU with the Tamil Nadu government, committing to invest around Rs 3,000 crore over eight years in greenfield and brownfield projects.
Ashok Leyland
Ashok Leyland has signed an MoU with the Tamil Nadu government, outlining plans to invest Rs 1,200 crore in the state over the next three to five years.
Bajaj Finserv
Bajaj Finserv’s unit, Bajaj Alliance, announced a total new business premium of Rs 962 crore and gross direct premium of Rs 1,425.1 crore for December.
BEML
BEML has clinched an order worth Rs 329.87 crore from the Ministry of Defense for the supply of Mechanical Minefield Marking Equipment Mark-II.
Read More: Bajaj Auto Share Buyback: Board To Meet Today To Consider Buyback; Stock Trades Higher
Cipla
Cipla’s UK-based arm has entered into a Joint Venture with Kemwell Biopharma and Manipal Education & Medical Group to develop novel cell therapy products for major medical needs in the US, Japan, and EU regions.
Brigade Enterprises
Brigade Enterprises has signed an MoU with the Tamil Nadu government, committing to invest over Rs 3,400 crore in multiple construction projects.
Tata Motors
Tata Motors has reported robust year-on-year growth in Jaguar Land Rover wholesales and retail sales, with a strong order book.
Adani Enterprises
Adani Enterprises’ unit Mumbai International Airport has obtained relief from an arbitration panel regarding payment issues with the Airports Authority of India during the Covid-19 period.
Gujarat State Fertilizers and Chemicals
Gujarat State Fertilizers and Chemicals has commissioned a manufacturing plant in Vadodara for the production of ammonium sulphate, with an installed capacity of 1,32,000 MT.
Gujarat Mineral Development Corp
Gujarat Mineral Development Corp has received environmental clearance from the Ministry of Environment, Forest, and Climate Change to expand the capacity of Surkha(N) Lignite Mine from 3 MTPA to 5 MTPA.
