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 up by 31 points or 0.14% at 22,265.50 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 ended up by 74.70 points or 0.34% to settle at 22,196.95, while the BSE Sensex gained by 349.24 points or 0.48% to 73,057.40.
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“Markets recovered strongly in the final hour of the trade to close at record high levels, continuing its winning streak for straight six sessions in a row. A Mixed trend was witnessed on the sectoral front. Wherein Realty, Fin service, and Media rallied the most, while Auto and IT remained subdued. A rebound in the private banking majors was the key highlight especially HDFC Bank. However, broader indices Midcap and Smallcap closed in red and lost 0.13% and 0.53% respectively,” said Ajit Mishra, SVP – Technical Research, Religare Broking Ltd.
Gold, silver rate today on August 29 in Mumbai, Delhi, Chennai, Kolkata: Here are latest prices of your city Stock Market Live: Markets at intra-day highs! Nifty above 25,100, Sensex near 82,000; Media and pharma shine Will Nifty continue to hold 25,000 on Thursday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Stocks To Watch: Reliance Industries, Vodafone Idea, Zomato, Wipro, InterGlobe Aviation
Mishra also said, The rebound in the banking majors helped the index to register a breakout from the consolidation and close above its intermediate hurdle of 22150 zone. Going ahead, if breakout holds successfully, we expect upward momentum to continue and index to scale higher towards 22500 levels.
Stocks to Watch on February 21, 2024
DLF
DLF, a prominent real estate company, has successfully acquired land parcels in Gurugram, Haryana, amounting to Rs 1,241 crore. This strategic move enables the partial redemption of bonds worth Rs 775 crore. The first tranche of land parcels has completed registration and transfer.
Hindalco Industries
Hindalco Industries’ wholly-owned American subsidiary, Novelis Inc., has confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).
TCS
K Krithivasan, CEO of Tata Consultancy Services (TCS), expressed cautious optimism for the medium-to-long term. He anticipates the next year to be better than the current one and affirmed that the company does not plan on reducing hiring, though there may be changes in the process.
Union Bank of India
Union Bank of India has received approval from the Committee of Directors for Raising Capital Funds to raise up to ₹3,000 crore through a qualified institutions placement (QIP). The floor price for the issue is set at ₹142.78 per equity share.
Swan Energy
Swan Energy has announced the commencement of a ₹4,000 crore fund raise through a qualified institutional placement (QIP), with the starting price fixed at ₹703.29 per share. The pricing of the issue will be determined on February 26.
Thermax
Energy and Environment solutions provider, Thermax, has signed a license and technical assistance agreement with South Korea-based Flowtech Co. The agreement aims to obtain technology for manufacturing Poly Carboxylate Ether products to strengthen Thermax’s construction chemicals business portfolio.
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Ashok Leyland
Ashok Leyland announces plans to set up a new integrated commercial vehicle plant in Uttar Pradesh, focusing on green mobility.
NTPC
NTPC Green Energy has signed an agreement with the Andhra Pradesh government to develop a green hydrogen hub in Visakhapatnam, including the construction of a production facility for 1,200 tonnes per day.
Devyani International
Yum Restaurant Private Ltd is expected to divest its entire 4.4% stake in Devyani International Ltd through block deals. The floor price for the transaction is set at ₹153.5 per share, representing a 7.45% discount to the current market price at the Bombay Stock Exchange (BSE).
Varun Beverages
Varun Beverages, through its unit, has entered into an exclusive snacks appointment agreement to manufacture and package ‘Cheetos’ in Morocco. Production from the company’s own manufacturing facility will commence on May 1, 2025, with a capex of Rs 100 crore.