GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up 27 points or 0.14% at 19,862, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Friday, the NSE Nifty 50 slipped 7.30 points or 0.04% to settle at 19,790.55, while the BSE Sensex dropped 47.77 points or 0.07% to 65,970.04.
“Markets consolidated in a range for yet another session and ended unchanged. It is a healthy consolidation in the Nifty so far and we feel only a decisive gap-up move above 19,850 could pave the way for a new high else range bound bias would continue. Participants should keep a close watch on the US markets and the performance of the banking majors for cues. Meanwhile, stay selective and avoid contrarian trades,” said Ajit Mishra, SVP – Technical Research, Religare Broking.
Stocks to Watch on November 28, 2023
Bank of Baroda
Reserve Bank of India (RBI), has imposed an aggregate penalty of Rs 4.34 crore on Bank of Baroda, for non compliance with certain directions issued by RBI on (i) Reported incorrect data on large exposure to CRILC (ii) Loans and Advances- Statutory and Other Restrictions and (iii) Interest paid on term deposits not as per the schedule of interest rates, the Bank said in a regulatory filing on NSE.
Eicher Motors
The company’s subsidiary, Royal Enfield, unveiled the Royal Enfield Shotgun 650 in Goa, with a special colorway and edition: the Shotgun 650 Motoverse Edition. While the continuous production motorcycle will be launched early next year, the Shotgun 650 Motoverse Edition is a limited-release, custom-designed colorway. The Shotgun 650 Motoverse Edition is priced at INR 4,25,000 (ex-showroom), and delivery of these 25 motorcycles will begin in January 2024, the company said in a press release.
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Maruti Suzuki India
The Company has planned to increase the prices of its cars in January, 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the Company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market, Maruti Suzuki said in a regulatory filing.
Life Insurance Corporation
LIC has initiated a total digital transformation project DIVE (Digital Innovation and Value Enhancement) and appointed a consultant to steer the project, LIC Chairman Siddhartha Mohanty told PTI in an interview. “Our objective is to get best-in-class digital initiatives for all our stakeholders, customers, intermediaries, marketing people and everybody through the project DIVE,” he said.
Fortis Healthcare
Fortis Malar Hospitals said it will sell Malar Hospital at Gandhi Nagar in Chennai for Rs 45.5 crore to MGM Healthcare. The company has signed a definitive agreement for the sale of its business operations pertaining to Malar Hospital at Gandhi Nagar, Adyar, Chennai, to MGM Healthcare (MGM), a prominent healthcare delivery service provider, Fortis Malar Hospitals said in a regulatory filing.
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ONGC, BPCL, HPCL
India’s top oil and gas producer ONGC has signed term contracts with refiners to sell crude oil it produces from Mumbai offshore fields at a premium to international benchmark Brent, reported PTI. Oil and Natural Gas Corporation (ONGC) has signed deals to sell about 4.5 million tonne of crude oil each to Bharat Petroleum Corporation and Hindustan Petroleum Corporation.
DLF
The Enforcement Directorate searched the premises of realty major DLF in Gurugram as part of a money laundering investigation against real estate firm Supertech and its promoters, official sources said on Saturday. The central agency has recovered some documents during the action that was carried out over the last two days, they said. The action is linked to the ED investigation against Supertech, the sources said.
(With agency inputs.)
