HCL Tech, Patanjali Foods, Garden Reach Shipbuilders, Gabriel India: Stocks to watch out for on Tuesday
Stocks to watch on Tuesday: At close, the NSE Nifty 50 index ended 418.9 points or 2.1 per cent higher at 20,686.8, while the S&P BSE Sensex finished the day with a gain of 1,383.9 points or 2.1 per cent at 68,865.1. Both the indices also had record closing highs after scaling record overall highs during the session.
Stocks to watch on Tuesday: At 08:164AM, GIFT Nifty traded 45.5 points, or 0.22 per cent lower at 20,815, indicating a negative start for domestic equities on December 5, Tuesday.
After the Bharatiya Janata Party registered thumping wins in five of the three assembly elections, both domestic benchmark indices finished at record highs with Sensex surpassing the 68,900 level and Nifty crossing the 20,700 mark.
At close, the NSE Nifty 50 index ended 418.9 points or 2.1 per cent higher at 20,686.8, while the S&P BSE Sensex finished the day with a gain of 1,383.9 points or 2.1 per cent at 68,865.1. Both the indices also had record closing highs after scaling record overall highs during the session.
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As per analysts, the rally was primarily driven by the landslide victory of the BJP in elections in three states with the anticipation that the country would witness a stable government post 2024 Parliamentary elections.
The high-beta Nifty Bank also registered a record closing high, finishing the day 1,617.2 points or 3.61 per cent higher at 46,431.4.
Here are some stocks that will be in focus on Tuesday, December 5:
M&M Financial Services:
In its monthly business update, the company said it estimated the overall disbursement at approximately Rs. 5,300 crores, delivering a 16 per cent growth over the previous year.
The company's UK arm will sell a 49 per cent stake in a joint venture to State Street for $170 million plus net book value on the date of closing. The transaction is expected to be completed in the second calendar quarter of 2024.
The company will hold analyst and investor meetings on December 5, 2023, and December 6, 2023, respectively, from 9:00 a.m. onwards.
Garden Reach Shipbuilders & Engineers:
Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd on Monday delivered the “largest-ever” survey vessel to be built in the country- INS Sandhayak- to the Indian Navy, according to PTI.
The company submitted an application with the Reserve Bank of India (RBI) for registration as a Core Investment Company.
National Cooperative Exports Ltd (NCEL) has been allowed by the government to export nearly 9 lakh tonnes of broken rice and about 35,000 tonnes of wheat and wheat products to various countries.
The company informed investors through a filing that the company had challenged an Assessment Order from the office of the Commercial Tax Officer (GST Department) under the jurisdiction of Salem, Tamil Nadu (‘Authority’) and has received a favourable outcome.
The Court has set aside the said order, directed the authority to reconsider the matter, and provided an opportunity for a personal hearing for the company.
The company sold the said balance equity shares, representing 0.02 per cent held in Optimus to Sekhmet for Rs 67.47 crore.
The board in a meeting will consider raising funds by issuing secured/unsecured listed/unlisted non-convertible debt securities through a private placement basis. The meeting will be held on December 8.
The company completed the acquisition of KPark Sunbeat Private Limited by acquiring a 99.90 per cent stake.
Fireside Ventures will offload 61 lakh shares or 1.9 per cent stake via a block deal. The deal is expected to be completed at a discount of 4 per cent to the previous close.
November volume has increased 17.5 per cent year-on-year (YoY) to 9136 MU. Term-Ahead-Market (TAM) also saw an increase by 24 per cent.
For the industrial minerals company, production grew 35 per cent YoY in November, while sales increased 18 per cent YoY.
The promoter Aga Khan Fund for Economic Development has evinced interest to buy equity worth 83.43 crore. The investment shall be to boost the bank's capital position as well as growth plans.
The company has entered into a definitive agreement of Rs 50 crore for an investment in Compulsory Convertible Preference Shares of GODI India Private Ltd (“GODI India”), which on a fully diluted basis will provide an equity shareholding of 31% in the company.
Promoter Great Terrain sold 93 lakh shares in the depositories company. Buyers in the bulk deal were Morgan Stanley, Goldman Sachs, JP Morgan, Citigroup, Kotak MF, HDFC Standard Life and many more,
360 ONE WAM:
Promoters sold 2.77% stake in the financial services firm at Rs 600 per share On the other hand, ICICI Prudential Mutual Fund bought 35 lakh shares (0.97%) at Rs 600 per share.
Metal and IT stocks to be under pressure:
In the overnight trade, the US metal index declined over 2 per cent. Meanwhile, Chennai floods will also impact IT stocks.
Bharat Forge/ Ramakrishna Forgings:
In November, the sales of Class-8 truck logged 7 per cent YoY increase to 36,750 units.
(With PTI inputs.)
09:17 AM IST