GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 33 points or 0.15% at 22,214 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 ended up by 118.95 points or 0.54% to settle at 22,123.65, while the BSE gained 526.02 points or 0.73% to 72,996.31.
“Stock-specific actions and positive undercurrents due to a healthy economic growth forecast led the market towards a positive closure. However, due to the holiday-led truncated week, investors are now focusing on US GDP data tomorrow and next week’s RBI policy announcement to gauge market direction,” said Vinod Nair, Head of Research, Geojit Financial Services.
Nair also added that, The mid- and small-cap space are outperforming as investors got bargaining opportunities, but volumes are low.
Stocks to Watch on March 28, 2024
UltraTech Cement
UltraTech Cement, a leading player in the cement industry, has successfully completed debottlenecking initiatives across various locations as part of its capacity expansion programs. These efforts have resulted in an additional production capacity of 2.4 million metric tonnes per annum (mtpa), enhancing the company’s total domestic grey cement manufacturing capacity to 140.8 mtpa.
Dr Reddy’s Laboratories
Dr Reddy’s Laboratories has entered into a distribution partnership with Sanofi Healthcare India Private. Under this collaboration, Dr Reddy’s will promote and distribute Sanofi’s vaccine brands in India, including well-established paediatric and adult vaccines, further strengthening the healthcare offerings in the country.
NHPC
NHPC’s board has approved plans to borrow Rs 6,100 crore from the market in tranches for the fiscal year 2025. Additionally, the board has given in-principle approval for the closure of Loktak Downstream Hydroelectric project in Manipur, pending government approval, as part of its operational streamlining efforts.
Cyient
Cyient, a global engineering and technology solutions company, has announced a strategic partnership with Deutsche Aircraft for detail design and manufacturing (DFM) of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft, signaling advancements in aerospace innovation.
Bharat Heavy Electricals
Bharat Heavy Electricals has secured an order worth Rs 4,000 crore from Adani Power for setting up a thermal power plant in Chhattisgarh, bolstering its position in the power infrastructure sector.
Zydus Lifesciences
Zydus Lifesciences underwent a cGMP USFDA inspection at its manufacturing plant in Ahmedabad from March 18 to March 27, 2024. The inspection concluded with four observations, highlighting the company’s commitment to quality compliance.
REC
REC, a leading public infrastructure finance company, has approved a market borrowing plan of Rs 1.6 lakh crore for the fiscal year 2025, utilizing various financial instruments to support its operations.
Texmaco Rail & Engineering
Texmaco Rail & Engineering’s Rs 250-crore Qualified Institutional Placement (QIP) witnessed participation from prominent entities including Samena Capital, Abu Dhabi Investment Authority, Societe Generale, and Mahindra Manulife Mutual Fund, indicating investor confidence in the company’s growth prospects.
Tata Elxsi
Tata Elxsi, a leading design and technology services provider, has announced a collaboration with Dräger, a global leader in medical and safety technology. This partnership aims to advance critical care innovation in India, addressing the evolving healthcare needs of the country.
Maruti Suzuki India
The country’s largest manufacturer Maruti Suzuki today announced organisational changes across engineering, marketing and sales, supply chain and human resources. Effective from April 1st, Tarun Aggarwal is set to assume the mantle of Head of Engineering, succeeding C V Raman. Partho Banerjee will take over from Shashank Srivastava as the new Head of Marketing & Sales. Manoj Gautam is slated to succeed Rajesh Uppal as Head of Information Technology, while Deepak Thukral will step into the role of Head of Supply Chain, succeeding Sunil Kakkar. These transitions signify a strategic realignment within the company’s leadership hierarchy.
