As the GIFT Nifty hints at a lackluster opening, here are key stocks likely to influence trading.
The GIFT Nifty suggested a marginal decline, setting the stage for a subdued opening on Monday. Previously, the NSE Nifty 50 rose by 0.24% to 21,710.80, and the BSE Sensex increased by 0.25% to 72,026.15.
Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, noted that the market is witnessing bullish activity after a quick rebound from the support at 21,500. However, resistance at 21,750 could pose a challenge, with immediate support at 21,600. A conclusive close above 21,750 may drive Nifty toward 22,000.
Stocks in Focus:
TVS Motors
TVS Motors has committed to investing Rs 5,000 crore over the next five years in Tamil Nadu, as per a Memorandum of Understanding (MoU) with the state government. The agreement also aims to generate 500 jobs, with support from the Tamil Nadu government.
Titan
Titan reported a robust 22% YoY revenue growth in Q3 and added 90 new stores during the quarter. The total store count now stands at 2,949.
Reliance Industries
Reliance Industries, under the leadership of Mukesh Ambani, is set to venture into renewable energy and green hydrogen in Tamil Nadu. With a committed investment of $10 billion over the next three years, RIL aims for net carbon-zero status by 2035.
Federal Bank
The Reserve Bank of India (RBI) is inquiring about succession plans at Federal Bank, requesting at least two fresh names for Managing Director and Chief Executive Officer roles.
Marico
Marico witnessed a low single-digit decline in consolidated revenue YoY in Q3 but showcased robust gross margin expansion.
Bajaj Auto
Bajaj Auto’s board is discussing a share buyback, marking the second instance within two years.
Tata Steel
Tata Steel reported a 6% YoY increase in India’s steel output to 5.32 million tons in Q3, with a 10% YoY growth in deliveries, totaling 4.88 million tons.
Adani Wilmar
Adani Wilmar recorded heightened demand in the branded oil and foods segment during the festive and wedding seasons.
JSW Steel
JSW Steel’s unit acquired 2,678 acres of forest land from the Odisha government for setting up an integrated steel plant with a capacity of 13.2 MTPA crude steel manufacturing.
Other Stocks
JK Cement’s subsidiary acquired the remaining 20% stake in Acro Paints.
– SJVN Green Energy, a unit of SJVN, signed a power usage agreement to supply 200 MW of solar power from the under-construction 1,000 MW Bikaner project.
– Reliance Power entered into an agreement with DBS Bank India to settle its borrowings.
– Godrej Industries’ chemical division committed to investing Rs 600 crore over the next four years.
– Jupiter Wagons secured a Rs 100 crore contract from a leading automobile manufacturer.
– Union Bank reported advances at Rs 8.96 lakh crore, up 11.4% YoY.
– Bank of Baroda recorded global business at Rs 22.95 lakh crore, up 10.7% YoY.
– ONGC achieved ‘First Oil’ production from the KG-DWN-98/2 Deepwater block in Krishna Godavari.
These developments indicate diverse market movements, suggesting a day of nuanced trading.
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