Stocks to watch today | GIFT Nifty traded up by 60.50 points or 0.27% at 22,511 indicating a 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 Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 60.50 points or 0.27% at 22,511 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Saturday’s special session, the NSE Nifty 50 ended up by 39.65 points or 0.18% to settle at 22,378.40, while the BSE Sensex gained 60.80 points or 0.08% to 73,806.15
“The strong resilience in India’s Q3 GDP growth numbers propelled Sensex & Nifty to fresh record highs amid a rally in index heavyweights such as Reliance Industries, Tata Steel and banking stocks. Despite the sharp rally, volatility cannot be ruled out due to ongoing concerns like delay in rate cuts, conflicts in the Middle East and expensive valuations of local stocks,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Tapse also added that, the upsurge shows that investors are willing to place bullish bets on Indian stocks amid continuity in economic policies and robust investment climate. From a technical perspective, if today’s bullish trading action is any indication, then Nifty’s next goal post is seen at its psychological 22500 mark followed by aggressive targets placed at 23000 mark, while the make-or-break support is at 21861 mark.
Read More: Dividend Stocks: Marico, Sanofi India, among others to trade ex-dividend next week; check full list
Stocks to Watch on March 4, 2024
Zee Entertainment Enterprises
A Delhi court has ordered Bloomberg to take down an article alleging corporate governance issues at Zee Entertainment Enterprises. The article also reported that the market regulator discovered a $241 million accounting issue at the company.
Jio Financial Services
The Bombay Stock Exchange has announced the periodic reconstitution of S&P BSE Indices, with Jio Financial Services being the sole addition to the S&P BSE Large Cap.
One 97 Communications
The Financial Intelligence Unit of India has imposed a penalty of Rs 5.49 crore on Paytm Payments Bank for violations of the bank’s obligations under the Prevention of Money Laundering Act, 2002.
Read More: Paytm Shares Fall 2.5% Following Government Penalty On Payments Bank
Axis Bank
Axis Bank has approved raising Rs 4,000 crore via long-term bonds, non-convertible debentures, and other debt instruments. The fundraising includes a base issue size of Rs 1,000 crore and a green shoe option of Rs 3,000 crore.
Torrent Power
Torrent Power has received a Rs 2,700 crore order from Railway Energy Management for installing approximately 325 MW of renewable capacity. Additionally, the company has been awarded a project by NTPC Vidyut Vyapar Nigam for supplying power from a gas-based power project.
Asian Paints
Asian Paints is set to establish a new water-based paint manufacturing facility in Madhya Pradesh with a capacity of 4 lakhs KL per annum. The approximate investment for the facility is Rs 2,000 crore.
Cipla
The U.S. FDA conducted a pre-approval inspection at Cipla’s manufacturing facility in China, which concluded from Feb. 26 to March 1 with zero Form 483 observations.
Read More: Sona Machinery IPO: Check Subscription Window, Allotment Date And Other Details
Tanla Platforms and Vodafone Idea
Tanla Platforms has signed a definitive Memorandum of Understanding with Vodafone Idea Business Services Ltd. to deploy ‘Messaging as a platform’ in India.
Angel One
Angel One has collaborated with a group of seasoned wealth managers to lead its tech-led omnichannel wealth management business.
PFC
Power Finance Corporation has incorporated Bhuj II Transmission and Angul Sundargarh Transmission for the development of specific transmission projects.
Larsen and Toubro
Larsen and Turbo’s arm has transferred the remaining 25% stake in the step-down unit IIML to Allianz Infrastructure Luxembourg on Feb. 29.
Maruti Suzuki
Maruti Suzuki India reported a total production volume of 1.78 lakh units in February, compared to 1.59 lakh units YoY.
Hero MotoCorp
Hero MotoCorp recorded total sales of 4.68 lakh units, up from 3.94 lakh units YoY. Total exports stood at 23,153 units, compared to 12,143 units.
FSN E-Commerce Ventures
FSN E-Commerce Ventures expands its global footprint with the launch of Nysaa, the first-ever beauty retail store in Dubai, in collaboration with Apparel Group.
