GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded flat at 21,845, indicating lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 gained 10.50 points or 0.05% to settle at 21,741.90, while the BSE Sensex ended higher by 31.68 points or 0.04% to 72,271.94.
“Nifty remained volatile throughout the session as traders remained indecisive. On the hourly chart, the Nifty fell below 20 DMA on intraday basis before closing on positive note. Going forward a decisive fall below 21650 might call for directional fall in the market. On the higher end, a close above 21750 might take the index towards the higher levels,” said Rupak De, Senior Technical Analyst at LKP Securities.
Stocks to Watch on January 02, 2024
Hindustan Unilever
Hindustan Unilever has been served Goods and Services Tax (GST) demand notices from five different states, totaling nearly Rs 450 crore.
Life Insurance Corp
Life Insurance Corp increased its stake in Asian Paints from 4.995% to 5%. However, it received a demand order cum penalty notice of Rs 806.3 crore from Maharashtra tax authorities. The company plans to appeal before the Commissioner of Appeals, Mumbai.
Coal India
Coal India reported an 8.2% YoY increase in coal production for December, reaching 71.9 MMT. The 9-month coal production also rose by 11% YoY, reaching 531.9 MMT.
BHEL
Bharat Heavy Electricals clarified that it has not secured the Rs 19,400 crore order from NLC India Ltd.
SJVN
SJVN received approval from the Department of Investment and Public Asset Management to establish four joint venture companies with the Ministry of Power.
Gensol Engineering
Gensol Engineering approved raising funds up to Rs 300 crore through qualified institutional placement.
G R Infraprojects
G R Infraprojects received a letter of intent for establishing a 1,000 MW transmission system in Madhya Pradesh, with an annual transmission charge of Rs 41.97 crore.
Religare Enterprises
Religare Enterprises received Goods and Services Tax demands amounting to Rs 35.92 crore, along with a penalty of Rs 3.59 crore from Principal Commissioner Central Goods & Service Tax & Central Excise Commissionerate Chandigarh.
Rites, MSTC
Manobendra Ghoshal has been relieved from Rites and appointed as Chairman & Managing Director of MSTC, ceasing to be among the senior management of Rites.
Tata Motors
Tata Motors reported a 5% YoY increase in December passenger vehicle sales and a 1% YoY increase in commercial vehicle sales. Domestic sales were up by 4.3% YoY.
TVS Motor
TVS Motor recorded impressive December sales, with a 25% YoY increase in total vehicle sales, 27% YoY increase in two-wheeler sales, and a 19% YoY increase in motorcycle sales.
Eicher Motors
Eicher Motors reported a 7% YoY decrease in December motorcycle sales and a 29% YoY decrease in motorcycle exports.
Nestle India
Nestle India received a GST demand order of Rs 46 crore and announced plans to challenge the order.
Power Grid Corp
Power Grid Corp appointed Ravindra Kumar Tyagi as the Chairman and Managing Director. The company also received a letter of intent for a 20 GW inter-state transmission system in Rajasthan.
UltraTech Cement
UltraTech Cement reported a 2% QoQ increase in total sales volume for Q3, reaching 26.06 MT.