GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded slightly down by 13.50 points or 0.06% at 21,470.50, indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 dropped 38 points or 0.18% to settle at 21,418.65, while the BSE Sensex ended lower by 168.66 points or 0.24% to 71,315.09.
“On the daily chart, the Nifty has formed a Bearish Harami candlestick pattern, suggesting a potential interruption in the ongoing rally. Additionally, the RSI indicator on the hourly timeframe has undergone a bearish crossover within the oversold zone, hinting at a waning bullishness in the market. A decline below 21350 could lead a correction towards 21220/21100 in the short term. Conversely, resistance is anticipated at 21500 on the higher end,” said Rupak De, Senior Technical analyst at LKP Securities.
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Aman Sehrawat to face Puerto Rico’s Darian Cruz in wrestling bronze medal match today – When and where to watch
Stocks to Watch on December 19, 2023
HDFC Bank
HDFC Bank raises a substantial Rs 7,425 crore through its inaugural 10-year infrastructure bond issue, securing funds at a 7.71% coupon rate.
Sun Pharma
Sun Pharmaceutical Industries acquires a 16.7% stake in Massachusetts-based Lyndra Therapeutics for $30 million, expanding its global presence.
Vedanta
Vedanta board approves a second interim dividend of Rs 11 per share, totaling Rs 4,089 crores; record date set for December 27.
Nestle India
Nestle India sets a record date of January 5 for a 1:10 stock split, determining shareholders’ entitlement post-approval on October 19.
Devyani International
Devyani International ventures into the Thailand market with the acquisition of 274 KFC outlets for Rs 1,066.10 crore; additionally invests Rs 340 crore in its Dubai-based global arm.
IDFC First Bank
IDFC First Bank receives regulatory approval from the RBI for the merger of IDFC and IDFC Financial Holding Co. with itself.
India Glycols
India Glycols secures a major order from oil marketing and oil companies for the supply of 16.55 liters of ethanol, valued at Rs 1,164 crore, under the Ethanol Blended Petrol Programme.
KPI Green
KPI Green initiates a Qualified Institutional Placement (QIP) aiming to raise up to Rs 300 crore, setting the floor price at Rs 1,245 per share, reflecting a 9.64% discount to the previous day’s closing.
Olectra Greentech
National Company Law Tribunal dismisses Olectra Greentech’s petition against MLR Motors for the recovery of Rs 10 crores.
Biocon
Biocon Biologics, a unit of Biocon, successfully completes the transition of the acquired biosimilars business across 120 countries in advanced and emerging markets.