Overnight Digest: Keep these stocks on your radar for February 1
On Monday, the frontline equity indices, i.e., Sensex and Nifty ended on a higher note, a day before the announcement of the Union Budget 2022.
Overnight Digest: Keep these stocks on your radar for February 1
On Monday, the frontline equity indices, i.e., Sensex and Nifty ended on a higher note, a day before the announcement of the Union Budget 2022.
At close, the Sensex was up by 813.94 points or 1.42 per cent at 58,014.17 and the Nifty was up by 237.90 points or 1.39 per cent at 17,339.85.
These stocks are likely to be in focus for Tuesday's trading session:
Bharti Airtel Limited: Bharti Airtel has announced an agreement to acquire an approximately 25 per cent equity stake in Bengaluru based technology start-up, Lavelle Networks. The agreement is subject to applicable statutory approvals. The home-grown Lavelle Networks specialises in Software-defined Wide Area Network (SD-WAN) solutions and it serves a range of industry segments. Its platform has connected several thousands of Indian enterprises from the nation's largest financial institutions to e-commerce networks. Airtel’s stock was at Rs 729.40, up by 1.89 per cent on the BSE.
Alkem Laboratories Limited: Alkem Laboratories Limited and Johns Hopkins University, have entered into an exclusive license agreement for the development and commercialization of JHU's novel target and technology that will help patients with colorectal cancer. This technology, a novel target, will serve as a bona fide biomarker and antagonist in human colorectal cancer based on angiogenesis and inflammation. The shares of Alkem Labs were at Rs 3539.75, up by 3.63 per cent at market close on Monday.
United Phosphorous Limited: UPL Ltd today reported a net profit of Rs 937 crore for the December quarter, up 18 per cent from a year ago. The agro-chemical company's revenue witnessed a growth of 24 per cent to Rs 11,297 crore, led by healthy growth in volumes and better product realizations. It was Rs 793 crore in the same quarter last year. Q3 FY22 EBITDA grew by 21 per cent YoY to Rs 2,666 crore as against Rs 2,209 crore in Q3 FY21. The stock of UPL was down by 1.08 per cent at Rs 782 per share on Monday.
52-week high stocks – From the BSE 500 pack, the stocks of MMTC, Canara Bank, Bank of Baroda, Bharat Dynamics, ONGC, and IDFC also have hit their 52-week high on Monday.