Overnight Digest: Stocks to be watched out on March 25
Dr Reddy's Laboratories, Coal India, Hindalco Industries, UltraTech Cement and Tech Mahindra were among the top Nifty gainers, while losers were Kotak Mahindra Bank, Titan Company, HDFC Bank, ICICI Bank and HDFC.
On Thursday, Indian markets opened with mixed cues following the Asian market as investors focused on easing COVID measures which could help in economic recovery and also kept an eye on today's NATO summit focused on Ukraine.
The benchmark indices ended marginally lower in the volatile session with Sensex being down 89.14 points or 0.15 per cent at 57,595.68 level and the Nifty declining 22.90 points or 0.13 per cent at 17,222.80 level. About 1426 shares have advanced, 1888 shares declined, and 100 shares are unchanged.
On the sectoral front, IT, oil & gas, metal and pharma indices rose 1 per cent each whereas bank index was lowered 1 per cent. In opposite to benchmark indices, BSE midcap and smallcap indices ended marginally higher.
Keep a watch on the following stocks for Friday's trading session:
Larsen & Toubro - The board of directors of L&T at its meeting held approved long-term borrowings up to Rs 10,000 crore, including refinancing, through external commercial borrowings, term loans, non-convertible debentures or any other instrument as may be appropriate. The share has ended the trading session flat 0.23 per cent on the upper side in Thursday's trading session.
Hinduja Global Solutions - HGS Digital LLC, the technology services arm of Hinduja Global Solutions Ltd announced a partnership with Khoros, the award-winning leader in digital-first customer engagement software and services. The partnership furthers the companies’ shared mission of helping the most admired brands worldwide deliver frictionless CX with solutions to improve customer engagement, drive deeper brand loyalty, optimize operations, reduce costs and increase revenue.
Shoppers Stop - On Thursday, shares of Shoppers Stop surged 6 per cent and hit a fresh 52-week high of Rs 460 per share. The stock gained for the fourth straight day, zooming 14 per cent during the period after its promoters hiked stake in the company via open market. Besides, the stock has rallied 27 per cent in the past six trading sessions. In the last 2 trading sessions, the stock has broken its current resistance level and the RSI, as well as MACD indicators, are trading in positive territory as well.
NELCO - The shares of this Tata Group company froze in a 5 per cent upper circuit after the company and Omnispace announced a strategic cooperation agreement to enable and distribute 5G non-terrestrial network (NTN), direct-to-device satellite services.
"The collaborative effort will expand the reach of 5G using satellite communication throughout India and South Asia. This agreement with Omnispace allows Nelco to expand its services by including 5G satellite direct-to-device connectivity solutions to its portfolio of satcom services for serving existing and new customers across South Asia, using the world’s first global 5G NTN network," the company said in a press release.