Vodafone Idea, Tata Power, Nestle, Cadila Healthcare, Zydus Healthcare, PNB, HCL Tech stocks in focus

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September 21, 2021 8:34 AM

Trends on SGX Nifty suggested a positive opening for BSE Sensex and Nifty 50 on Tuesday, as Nifty futures surged in trade

Vodafone Idea, Tata Power, Nestle, Cadila Healthcare, Zydus Healthcare, PNB, HCL Tech stocks in focus17320-17245 should be treated as key support area whereas 17580-17635 should be seen as resistance levels.

Trends on SGX Nifty suggested a positive opening for BSE Sensex and Nifty 50 on Tuesday, as Nifty futures surged in trade. Globally, market participants were eyeing concerns from default of Chinese real estate giant Evergrande. On the back of weak global cues, Indian share market witnessed sell-off in the previous session. On the technical front, the Nifty has confirmed the shooting star pattern on daily chart. “17320-17245 should be treated as key support area whereas 17580-17635 should be seen as resistance levels. First signal of weakness would come only if Nifty slides below its lower range of 17245,” Aprajita Saxena, Research Analyst, Trustline Securities, told Financial Express Online.

Stocks to watch

Vodafone Idea: The promoters of Vodafone Idea — Vodafone and Aditya Birla Group — are likely to look for options wherein they could strengthen the company’s business and competitiveness rather than bank on the government converting its dues into equity in the company at the end of the four year moratorium on AGR and spectrum payments.

Tata Power: TP Saurya, a subsidiary of Tata Power, will build a 250 megawatt (MW) project at the Dondaicha solar park in Maharashtra’s Dhule district, Tata Power said on Monday. The company has received a ‘letter of intent’ from the Maharashtra State Power Generation Company (Mahagenco), which has also conveyed consent to purchase the power generated from the solar plant, Tata Power said in a statement.

Nestle India: Nestle India is increasing the number of its women employees as part of its gender diversity efforts. Presently, around 23 per cent of Nestle India’s workforce are women, its Chairman and Managing Director Suresh Narayanan said on Monday.

Cadila Healthcare, Zydus Healthcare: Cadila Healthcare on Monday said its subsidiary has inked a pact with Integrace Pvt Ltd to sell two brands — Mifegest and Cytolog. Zydus Healthcare Ltd, a wholly-owned subsidiary of the company, has inked the agreement with Integrace, a part of the portfolio companies of private equity firm True North.

PNB: Punjab National Bank (PNB) collected nearly Rs 170 crore by levying charges on customers for not maintaining the required minimum balance in their accounts during 2020-21, according to RTI information.

HCL Technologies: HCL Tech announced a five-year, digital transformation deal with MKS Instruments Inc., a global provider of instruments, systems, subsystems and solutions for advanced manufacturing processes, to improve performance, productivity and speed to market.

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