GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up 26 points or 0.13% at 19,828, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 dipped 33.40 points or 0.17% to settle at 19,731.80, while the BSE Sensex dropped 187.75 points or 0.28% to 65,794.73.
“The Nifty has largely traded within a range, showing a predominantly bullish sentiment. Over the past two to three days, a ‘buy on dips’ approach has been loved by the street since the Nifty crossed the crucial 19,500 mark. The trend is expected to stay positive as the Nifty consistently concludes trading sessions above the critical moving averages. Support levels are situated at 19,630/19,500 on the lower end, while resistance is placed at 19,850/ 20,000 on the higher end,” said Rupak De, Senior Technical analyst at LKP Securities.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC
Stocks to Watch on November 20 November, 2023
Bajaj Finance:
The Reserve Bank of India’s directive has led Bajaj Finance, a leading NBFC, to temporarily halt the issuance of ‘Existing Member Identification’ cards to new customers.
SBI Cards and Payment Services:
SBI Cards anticipates a 400 basis points decline in capital adequacy, attributed to the Reserve Bank of India’s revised credit risk weights.
Adani Power:
Adani Power sees strategic investments with Ardour Investment holding Ltd. acquiring 1.93% and Emerging Market Investment DMCC acquiring 0.13% of the company’s shares. Promoters now hold 71.14% in Adani Power.
Larsen & Toubro:
Larsen & Toubro contests the imposition of a Rs 111.31 crore penalty for 2016-2017 and Rs. 127.64 crore for 2017-2018 by Qatar’s General Tax Authority, deeming it arbitrary and unjustified.
IndusInd Bank:
The Reserve Bank of India approves the appointment of Arun Khurana as the whole-time executive director of IndusInd Bank for a three-year term, effective from Nov. 16, 2023.
Ashok Leyland:
TheCompany has received bookings of 10,000 battery-driven light trucks and has unveiled the two new e-LCVs in Chennai.
Tamilnad Mercantile Bank:
The Enforcement Directorate orders Tamilnad Mercantile Bank to transfer a 3.31% stake held by MGM Maran. This follows the attachment of assets worth Rs 205 crore under PMLA in 2016.
Rites:
Rites secured bids in two tenders from CFM Mozambique, winning contracts for the supply of 10 diesel electric locomotives and 300 high side wagons.
Dalmia Bharat Sugar:
Dalmia Bharat Sugar reports operational disruptions at its Kolhapur and Ninaidevi units in Maharashtra due to Farmer’s Sangathan Agitation.
BPCL:
Bharat Petroleum Corporation Limited (BPCL) announces plans to expand its fuel retail network by two-thirds, aiming for strategic growth in the sector.
