Buzzing stocks: As the SGX Nifty hinted at a flat open today for domestic indices BSE Sensex and NSE Nifty 50, here’s a look at the key stocks to watch in trade on Thursday.
Stocks in focus: The SGX Nifty recorded a marginal gain of 0.07% during Thursday’s trading session, with a value of 18,824.5, indicating a flat opening for the domestic indices NSE Nifty 50 and BSE Sensex. The equity indices are moving towards all-time highs as Nifty 50 closed yesterday at 18,726, higher by 127 points, and Sensex concluded the day at 63,142.96, jumping 0.56%.
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“Investors are becoming more optimistic due to the anticipation of a positive revision in the RBI’s inflation forecast during the ongoing MPC meeting. It is expected that the RBI will maintain its pause on rate hikes, considering the significant improvement in inflation, which has now come within the RBI’s comfort zone. Furthermore, the participation of FIIs as net buyers, after a brief halt, contributed to today’s market rally, particularly driven by mid- and small-cap stocks,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks to Watch on 8 June, 2023
NHPC
NHPC signed an agreement with the Maharashtra government to build pumped storage hydro projects totalling 7,350 MW capacity with an investment of Rs 44,000 crore.
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Wipro
Wipro launched a private 5G-as-a-Service solution in partnership with Cisco. Customers can integrate private 5G with their existing LAN/WAN/Cloud infrastructure.
Bajaj Finance
Bajaj Finance allotted 59,500 secured, redeemable Non-Convertible Debentures (NCDs), at the face value of Rs 1 lakh each and in case of re-issuance at the face value of Rs 10 lakh, aggregating to Rs. 1,473.49 crore.
LIC, Tech Mahindra
The Life Insurance Corporation of India raised its stake in Tech Mahindra Ltd by about 2% to 8.8% through an open market acquisition.
Banking shares
Banking stocks will be in focus today following the RBI MPC policy announcement. Most experts are factoring in a continuation of the “non-committal” pause in rate changes. Shares of public and private banks, NBFCS and more, will react to the interest rate verdict to be delivered later today.
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Tata Elxsi’
Tata Elxsi partnered with the Indian Space Research Organization (ISRO) to enable the upcoming Gaganyaan Mission. The firm designed and developed Crew Module Recovery Models (CMRM) for recovery team training of the space mission.
Mazagon Dock Shipbuilders
thyssenkrupp Marine Systems and Mazagon Dock Shipbuilders signed a memorandum of understanding (MoU) in the presence of the German Minister of Defense Boris Pistorius to build submarines for and in India.
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Aether Industries
Aether Industries signed a Letter of Intent (LoI) with an oil field services company based in the USA, towards the finalization of a strategic supplier and contract manufacturing partnership.
