Stocks To Watch Include Reliance Industries, ONGC, Oil India, HDFC Bank, Infosys, Wipro, Maruti, And Hindustan Copper
The domestic equity share market standards BSE Sensex and Nifty 50 got off to a bad start on Monday, according to early trade trends on the SGX Nifty. On the Singaporean Swap, Nifty futures fell 27.50 points, or 0.2%, to 17,715.5. The Indian share market kicked off the new fiscal year 2023 with a bang, hitting two-month peaks on the first day. The gains were assisted by Asian stock markets, the GST election, and lower oil prices. “At this point, almost all sectors are devoting to the rebound, but the banking pack’s devoting is critical if Nifty is to test the 17,800-18,100 area in the near future.” Contestants should align their roles and avoid contrarian trades, according to Religare Broking’s V.P. Research, Ajit Mishra.
Keep an eye on these stocks.
RIL, ONGC, and Oil India:- These are the three companies that make up RIL, ONGC, and Oil India. According to Morgan Stanley analysts, the profitability of upstream oil and gas firms Oil and Natural Gas Company (ONGC), Oil India, and Reliance Industries (RIL) is expected to increase in FY23 due to a 110 percent increase in household biogas price to $6.1/mmBtu. However, other than CNG and PNG are still cheaper than petrol, diesel, and LPG, the margins of city gas distribution (CGD) industries like Indraprastha Gas, Mahanagar Gas, and Gujarat Gas would shrink.
Hindustan Copper Limited (HCL):- Hindustan Copper Limited has devised a plan to increase its copper ore capabilities by fivefold, to 20.2 million tons annually (mtpa), for Rs 5,500 crore.
HDFC Bank :- As from March 31, 2022, HDFC Bank’s advances increased by 20.9 percent year over year (y-o-y) and 8.6 percent sequentially to Rs 13.69 trillion. The bank’s deposits rose by 16.8% year on year and 7.8% serially to Rs 15.59 trillion.
Infosys :- As per sources, Infosys is relocating its facilities from Russia to other worldwide distribution centres. The move comes as UK Chancellor Rishi Sunak faces growing pressure over Infosys’ Russian appearance, a corporation in which his wife, Akshata Murty, owns stock.
Tata Power :- Tata Power announced on Friday that the National Company Law Tribunal (NCLT) has approved its totally owned subsidiary Coastal Gujarat Power (CGPL) to be merged with the corporation.
Wipro :- Wipro partnered with the University of South Carolina and the Indian Institute of Technology, Patna to advance AI-driven advancement.
TVS Motor Company :- For 1,163,070 pounds, TVS Motors subsidiary TVS Motor (Singapore) Pte Ltd purchased a 70% stake in EBCO, U.K. (United Kingdom)-based.
Maruti Suzuki India :- Maruti Suzuki hopes to sell 4-6 lakh CNG vehicles in the current fiscal year, based on the availability of critical elements.