Overnight Digest: Stocks to keep an eye on July 26
Keep a watch on these stocks for Tuesday's trading session.
On Monday, the fears of a global economic slowdown coupled with a slew of major quarterly earnings gripped the sentiments in the domestic market.
At the time of market closing, Sensex plunged 306.01 points or 0.55 per cent at the 55,766.22 level while Nifty tumbled 88.50 points or 0.53 per cent at the 16,631 level.
Among the sectors, a mixed trend was witnessed with the metal index gaining 1.5 per cent whereas the auto index contracted nearly 2 per cent. In the broader markets, BSE Midcap and Smallcap indices settled on a flat note.
Keep a watch on these stocks for Tuesday's trading session-
Mahindra CIE - The shares of Mahindra CIE Automotive rose more than 3 per cent in an otherwise weak market. The company clocked nearly 39 per cent year-on-year growth in consolidated profit at Rs 188.85 crore for the quarter ended June 2022, backed by revenue and other income. Its revenue grew by 32.5 per cent to Rs 2,707.2 crore for the quarter.
Equitas Small Finance Bank - Subsidiary of HDFC Bank, HDFC Securities Limited has announced its partnership with Equitas Small Finance Bank to provide its clients with a Demat account and its broking/investment services. With this partnership, Equitas Small Finance Bank can offer its customers a 3-in-1 account that helps them access the services of HDFC Securities.
Finolex Industries - The shares of Finolex Industries dropped up to 5 per cent, underperforming the market on Monday. Finolex Industries reported a 32 per cent year-on-year fall in consolidated profit at Rs 99.22 crore in the quarter ended June 2022, due to weak operating performance. Meanwhile, its revenue grew by 23.2 per cent to Rs 1,189.8 crore during the same period with PVC pipes & fittings volume improving 29 per cent and PVC resin volume rising 25 per cent on a YoY basis.
Elecon Engineering - The shares of Elecon Engineering Company Ltd (EECL) jumped 19 per cent in a weak market to Rs 392, making a new high. The shares surged 25 per cent in the past two trading days. The shares of this company are seen trading with a more-than-doubled price. Since April 9, the market price of EECL has zoomed 117 per cent from a level of Rs 169.50 hit on BSE.