Stocks To Watch- L&T, Axis Bank, JSPL, SBI Life, Indraprastha Gas , RVNL, Dr Reddy’s Lab, Tech Mahindra, Nestle India
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down by 163 points or 0.57% at 24,251 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 ended down by 65.55 points or 0.27% to settle at 24,413.50 while the BSE Sensex fell 280.15 points or 0.35% to 80,148.89.
“The budget event has gone by leaving a mixed bias while reshuffling of capital gain tax is only a short-term negative surprise. The broad market seems to be losing momentum due to lack of further traction,” said Vinod Nair, Head of Research, Geojit Financial Services.
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Teerth Gopicon, DCG Cables & Wires – 3 IPOs to open this week
After the launch of Bharti Hexacom’s mega IPO, the mainboard IPO market is set for a brief respite with no new offerings scheduled for the week.
However, activity in the small and medium enterprises (SMEs) segment will continue, as three new public issues are poised to debut in the primary market.
IPO opening this week
Teerth Gopicon IPO
Teerth Gopicon’s IPO is scheduled to open for subscription on April 8, 2024, and will close on April 10, 2024. The fixed price issue amounts to Rs 44.40 crore, offering 40 lakh shares.
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RBI interest rate decision, global trends, earnings to dictate stock markets- Analysts
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI’s interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts.
The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities.
“On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8. The Q3 quarterly results season will continue to remain in focus. Bharti Airtel, Power Grid, Nestle, Lupin and Tata Power will announce their results this week,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
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FPIs sell $1.8 billion in financial services stocks amid market fall
Foreign portfolio investors (FPIs) offloaded shares worth $1.76 billion of financial services companies in the first half of August, the maximum outflow from the sector since January, according to the data from National Securities Depository (NSDL).
The financial services space contributed to around 78% of overall net outflows during the period, with the total selling figure standing at $2.24 billion.
Apart from financial services, shares of metals, construction material makers and services companies also took a beating.
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The selling, which was seen in the equities globally, was due to concerns over a potential recession in the US. So far in August,…
State-run energy firms line up for green IPOs
After NTPC Green’s Rs 10,000 crore initial public offer (IPO) expected around November, almost a dozen more such issues are likely to hit the market over the ensuing months, with state-run energy companies seeking to bolster the capital bases of their newly incorporated green subsidiaries.
These IPOs are part of a larger plan of these companies – Coal India, ONGC, SJVN, NHPC, India Oil and NLC India – to create robust climate-friendly asset bases, and enjoy the tax reliefs for new greenfield ventures (see chart). While a clearer picture will emerge only later, the combined value of these IPOs could easily run to tens of thousand crores, according to official sources and market experts.
While the sequence of the IPOs will unravel over the next few months, the government, especially the Department of Investment and Public Asset Management has been encouraging the energy sector CPSEs’ plans to float subsidiaries and joint ventures to take advanta…
225% jump in PSU market cap in 3 years- FM
The combined market cap of 81 listed Public Sector Undertakings (PSUs) including banks and insurance companies has grown by 225% in the last three years, aided by the government’s higher capital expenditure, better capital management and professionalism, finance minister Nirmala Sitharaman said on Wednesday.
In a rebuttal to Congress and Rahul Gandhi’s claim that PSUs are being “dismantled” and are in disarray under the Modi government, in a post on ‘X’, Sitharaman said the facts reveal a very different picture.”
PSUs which suffered and were neglected by the Congress-led UPA government, such as Hindustan Aeronautics Limited (HAL), have seen a resurgence under the Modi government, she said.
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FII, DII data- FPIs purchased shares worth Rs 252 Cr, DIIs added shares worth Rs 1111 Cr on October 23, Monday
Foreign institutional investors (FII) purchased shares worth net Rs 252.25 crore, while domestic institutional investors (DII) added shares worth net Rs 1,111.84 crore on October 23, 2023, according to the provisional data available on the NSE.
For the month till October 23, 2023, FIIs sold shares worth net Rs 13,159.47 crore while DIIs bought shares worth net Rs 12,995.64 crore. In the month of September, FIIs offloaded shares worth net Rs 26,692.16 crore while DIIs added equities worth a net Rs 20,312.65 crore.
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