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 by 24.50 points or 0.11% at 22,514.50 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 ended up by 27.20 points or 0.12% to settle at 22,405.60, while the BSE Sensex gained 66.14 points or 0.09% to 73,872.29
“The market traded in a range-bound manner due to weak global cues, while investors turned stock-specific due to the prevailing caution on broader indices. Further, the tepid consumption data influenced investors to refrain from FMCG and discretionary stocks,” said Vinod Nair, Head of Research, Geojit Financial Services.
Nair also added that the global sentiment is likely to be cautious ahead of FED chair testimony and ECB policy later this week. Since inflation is above the target range, the FED is expected to keep its hawkish stance on interest rates and will be watchful of unemployment and nonfarm payroll data for more cues.
Stocks to Watch on March 5, 2024
Tata Motors
Tata Motors has approved a proposal to undergo a split, creating two distinct listed entities focusing on passenger and commercial vehicles. This move aims to enhance growth prospects and foster improved accountability within the company.
IIFL Finance
The Reserve Bank of India (RBI) has directed IIFL Finance to cease immediate disbursal of gold loans. However, the company is permitted to continue servicing its existing gold loan portfolio.
State Bank of India
State Bank of India has filed a plea with the Supreme Court, requesting an extension beyond the March 6 deadline to provide data related to the electoral bonds scheme.
Jio Financial Services
Promoters Sikka Ports and Terminals, Jamnagar Utilities and Power, plan to acquire up to 14 crore shares of Jio Financial Services.
AU Small Finance Bank
The Reserve Bank of India has granted approval for the merger of Fincare Small Finance Bank with AU Small Finance Bank.
Macrotech Developers
Macrotech Developers has launched its Qualified Institutional Placement (QIP) to raise Rs 3,300 crore.
Brigade Enterprises
Brigade Enterprises has announced the launch of Dioro at Brigade El Dorado, with a project size of around 6.1 million square feet and a potential revenue value of Rs 380 crore.
Easy Trip Planners
Easy Trip Planners, in collaboration with Punjab National Bank, has introduced the PNB EMT Co-branded Credit Card. The card offers rewards for travel-related spending, including flights, hotels, and holiday packages.
NTPC
NTPC’s unit has signed a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam for the development of renewable power parks and projects in Uttar Pradesh.
Jindal Stainless
Jindal Stainless has commenced the inaugural usage of green hydrogen in its stainless-steel plant located in Hisar, Haryana.
ONGC
Oil and Natural Gas Corp. (ONGC) has appointed Nandan Verma as the Executive Director.
NBCC
NBCC’s unit has received an order worth Rs 92 crore from the Post Graduate Institute of Medical Education and Research, Chandigarh.
Tanla Platforms
Tanla Platforms has announced the launch of Messaging as a Platform for Telcos to support Google Rich Business Messaging.
Exicom Tele-Systems
Shares of Exicom Tele-Systems are set to make their debut on the stock exchanges this Wednesday at an issue price of Rs 142 per share. The company’s Rs 429 crore Initial Public Offering (IPO) witnessed robust investor interest, subscribing a staggering 129.54 times on its third and final day.
Platinum Industries
Investors eagerly await the market debut of Platinum Industries shares, scheduled for Wednesday, following an issue price of Rs 171 per share. The company’s Rs 235.32 crore IPO saw moderate subscription, being oversubscribed 2.08 times on the third and final day of the offering.
