GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded flat at 21,474, indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Friday, the NSE Nifty 50 jumped 273.95 points or 1.29% to settle at 21,456.65, while the BSE Sensex soared 969.54 points or 1.37% to 71,483.75.
“The Nifty’s upward momentum persists with the bulls maintaining control in the market. Achieving a new all-time high, the index has marked its seventh consecutive weekly gain. The prevailing sentiment appears strongly in favor of the bulls, as indicated by the absence of any reversal signals on the technical charts. Resistance is observed at 21,500, while a potential further rally in the Nifty could occur upon breaching this level. Support is currently positioned at 21,300,” said Rupak De, Senior Technical analyst at LKP Securities.
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Stocks to Watch on December 18, 2023
Mankind Pharma
Mankind Pharma has acquired an additional 1.3% stake in Actimed Therapeutics, investing £999,900. With this move, Mankind Pharma’s stake in Actimed Therapeutics now stands at 10.19%.
Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders has inked individual shipbuilding contracts with a European client. The contracts involve the construction of three units of 7,500 DWT multi-purpose hybrid powered vessels, amounting to $42 million.
NBCC
NBCC conducted a successful auction, selling 2.23 lakh square feet of commercial space at World Trade Centre. The total proceeds from the sale amounted to Rs 905 crore, contributing to the overall sales of commercial inventory through e-auction, reaching Rs 9,656.6 crore.
Tata Power
Tata Power has signed contracts worth Rs 418 crore for the supply of 152 MWp DCR Solar PV Modules to NTPC.
Indian Bank
Indian Bank has raised Rs 4,000 crore by issuing 10.15 crore shares via Qualified Institutional Placement (QIP) at Rs 394 per share, representing a discount of 4.9% to the floor price.
Adani Green
Adani Green has incorporated two wholly owned subsidiaries, Adani Renewable Energy Fifty Eight and Adani Renewable Energy Sixty One.
United Spirits
United Spirits has received a claim worth Rs 365.33 crore from an institutional customer related to a previously concluded settlement. The financial implications of this claim are yet to be determined by the company.
Lupin
Lupin has received approval from the United States Food and Drug Administration (FDA) for its abbreviated new drug applications for Allopurinol Tablets USP and Sitagliptin Tablets USP.
Landmark Cars
Landmark Cars has received a letter of intent from MG Motor India for opening a dealership in Ahmedabad, Gujarat. The dealership will be established by Aeromark Cars Private Ltd., a wholly owned subsidiary of Landmark Cars.
Gandhar Oil Refinery
Gandhar Oil Refinery has reported consolidated revenue of Rs 1,000.9 crore in the second quarter, with a net profit of Rs 48.1 crore.
