Stocks in Focus: GIFT Nifty traded up 468 points or 2.30% at 20,821, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 soared 418.90 points or 2.07% to settle at a record high of 20,686.80, while the BSE Sensex jumped 1383.93 points or 2.05% to 68,863.93.
“Indian equities celebrated BJP’s sweeping victory in the three states by rallying more than 400 points to hit fresh high of 20,702 levels. The outcome was overwhelmingly in favour of the incumbent BJP, strong macroeconomic data and easing global interest rate expectations boosted the market momentum. Nifty has rallied by 1865 points or 10% from its low of 18,837 made in October 23. We expect market sentiment to strengthen further as the ongoing pre-election rally is quite strong now. Given the government’s focus approach towards long-term capex across key areas, we expect BFSI, Industrials, Real Estate, Auto and Consumer Discretionary to do well going forward,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Stocks to Watch on December 5, 2023
Rail Vikas Nigam
President of India has approved the appointment of Shri Vivek Kumar Gupta, Principal Executive Director/Gati Shakti, Railway Board, as Part-time Government Director on the Board of Rail Vikas Nigam (RVNL) with immediate effect, till he holds the post of Principal Executive Director/Gati Shakti, Railway Board or further orders, whichever is earlier, according to the information available on the NSE.
HCL Technologies
HCL Investments UK, a company incorporated in the UK and a step-down wholly owned subsidiary of the Company has entered into a Memorandum of Understanding with its Joint Venture (JV) partner, State Street International Holdings, a US corporation (State Street), pursuant to which HCL UK is entering into discussions to finalise modalities for State Street to exercise its right of Call Option in the JV and acquire HCL UK’s entire 49% equity stake in the JV that was formed in the year 2012 to provide business operations services, the company said in a regulatory filing.
JSW Infrastructure
JSW Dharamtar Port, a wholly owned subsidiary of Company has entered into share purchase and other relevant transaction documents for acquisition of 50% plus 1 shares of PNP Maritime Services from SP Port Maintenance (A Shapoorji Pallonji Group Company). On Completion of the transaction, PNP Maritime Services will become the step-down subsidiary of the Company, the company said in a regulatory filing.
TVS Holdings
The company has applied with the Reserve Bank of India (RBI), for registration of the Company as a Core Investment Company (CIC).
Cupid
The company announced its acquisition of a new land parcel in an Industrial Area near Mumbai. This move is set to remarkably increase the company’s production capabilities, enhancing its position in the global market. The acquisition will enable Cupid to amplify its product on capacity by 1.5 mes the exis ng output. As a result, the annual production capacity will be augmented by approximately 770 million male condoms and 75 million female condoms. This expansion is in addition to the current production capacity of 480 million male condoms and 50 million female condoms, the company said in a press release.
(With agency inputs.)