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 86.50 points or 0.40% at 21,614.50, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 34.45 points or 0.16% to settle at 21,453.10, while the BSE Sensex ended higher by 122.10 points or 0.17% to 71,437.19.
“Nifty found support just above the 21EMA on the hourly chart, prompting a strong recovery in the latter part of the session. The momentum indicator maintains a positive crossover, suggesting ongoing strength. The bullish trend is expected to persist as long as it stays above 21350 consistently. On the upper side, Nifty is likely to encounter resistance from call writers at 21500. A definitive breakthrough above 21500 could potentially initiate a substantial market rally; until then, consolidation appears probable,” said Rupak De, Senior Technical analyst at LKP Securities.
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility
Stocks to Watch on December 20, 2023
Bharat Petroleum
Bharat Petroleum Corp has greenlit a proposal to establish a 400 KTPA polypropylene unit at its Kochi refinery. The project, costing Rs 5,044 crore, will be financed with a debt-equity ratio of 65:35.
Also Read
IT Companies
Major IT companies are expected to witness a decline in freshers’ hiring for the current fiscal year as they contemplate freezing intake, reports suggest.
Nippon Life India AMC
IndusInd Bank is set to sell a 2.86% stake in Nippon Life India AMC through a block deal, with the floor price fixed at Rs 426 per share—a 5% discount to the previous day’s closing price.
Rail Vikas Nigam
Rail Vikas Nigam, in a joint venture with KRDCL, emerged as the lowest bidder for a project worth Rs 123 crore to upgrade the Varkala Sivagiri railway station in Kerala.
Glenmark Life Sciences
The Competition Commission of India has granted approval for Nirma to acquire a majority shareholding in Glenmark Life Sciences.
JK Tyre and Industries
JK Tyre and Industries have commenced a Qualified Institutional Placement (QIP) to raise up to Rs 500 crore, setting the floor price at Rs 358.96 per share—a 5.2% discount to the stock’s previous close.
Varun Beverages
Varun Beverages is set to acquire South Africa’s ‘The Beverage Company’ and its subsidiaries for ZAR 3 billion (Rs 1,320 crore). The company has also signed an MoU with the Jharkhand Government for a manufacturing plant in Patratu with a capital outlay of Rs 450 crore.
Jubilant FoodWorks
Jubilant FoodWorks Netherlands, a unit of Jubilant FoodWorks, has initiated a cash offer to acquire the remaining 45.33% share capital of DP Eurasia, a subsidiary company, at Rs 95 pence per share.
Also Read
DOMS Industries
DOMS Industries is poised to make its market debut today as its shares hit the stock exchanges at an issue price of Rs 790 apiece. The Rs 1,200-crore Initial Public Offering (IPO) witnessed robust investor interest, being subscribed 93.52 times during its three-day offering.
India Shelter Finance Corp
India Shelter Finance Corp is set to make its maiden appearance on the stock exchanges today, with its shares priced at Rs 493 each. The housing finance company’s Rs 1,200-crore IPO, which ran for three days, garnered a subscription of 36.71 times.
