Stocks To Watch: TCS, DMart, Tata Steel, HCC, Federal Bank, Info Edge, Sobha, KEC, Indostar
Stocks are starting the week weaker as investors brace for bond-market volatility and assess the economic hit from the rapidly spreading Covid omicron variant.
Shares edged lower in Australia and South Korea. U.S. futures slipped after the S&P 500 posted the worst start to a year since 2016 as expectations of faster-than-anticipated U.S. interest-rate increases roiled bond markets. Japan is shut for a holiday Monday.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.5%, while MSCI Asia Pacific Index gained 0.1%. The NSE Nifty 50 Index added 0.4% Friday to 17,812.70.
TCS may react as the company plans to consider buyback. Foreign investors sold net Rs 1,700 crore of stocks on Jan. 6, according to NSDL website.
Here are the stocks to watch in trade today:
Sobha: The company reported Q3 sales volume of 1,322,684 square feet of super built-up area, an increase of 17% YoY. It was valued at Rs 1,048 crore, an 18% increase. It also reported the highest ever share of sale value of Rs 908 crore during the quarter, up by 34% YoY.
Tata Steel: India crude steel production rose 1.5% sequentially in Q3; overall deliveries were lower by 4% QoQ as increase in domestic deliveries was offset by lower exports.
SJVN: The company bagged 125 MW grid connected solar power project in UP Solar Park in Uttar Pradesh. It will build 75 MW grid connected solar power project at Gurhah, in Jalaun District and 50 MW grid connected solar power project at Gujrai, in Kanpur Dehat District in the state.
Indostar: The CEO R. Sridhar has stepped down and Deep Jaggi, the chief business officer has now taken over as the CEO of the company.
Tata Consultancy Services: Board will consider a proposal for buyback of equity shares on January 12, 2022.
Hindustan Construction: The company has defaulted on total loan payments of Rs 2162.35 crore.
KEC International: The company has secured new orders of Rs. 1,025 crores across its various businesses including Railways, Civil, Oil and Gas pipeline, Smart Infra and Cables.
Federal Bank: To raise funds by way of issue of Unsecured Basel III Tier-II Subordinate Bonds in the nature of Debentures, amounting up to Rs. 700 crore on a private placement basis.
Info Edge: The company declared an interim dividend of Rs. 8 per share.
GTL Infrastructure: The company has reported loan overdue of Rs 2882.19 crore as on Dec. 31, 2021.
Data Infrastructure: The company announced rights issue of units.
Reliance Infrastructure: The company has defaulted on loans of Rs. 2,807.43 crore as on Dec. 31, 2021.
Sintex: The company has defaulted on loans of Rs. 7,425.55 crore as on Dec. 31, 2021.
Seshasayee Paper and Boards: To announce Q3 results on Jan. 22.
Loyal Textile Mills: To announce Q3 results on Feb. 11.
Sportking India: To announce Q3 results on Jan. 22.
Cholamandalam Investment and Finance: To announce Q3 results on Feb. 1.
CEAT: To announce Q3 results on Jan. 19
Pledged Share Details
Mangalore Chemicals & Ferilisers: Promoter Zuari Agro Chemicals revoked a pledge of 3 lakh shares on Jan. 04.
D B Corp.: Promoter Group DB Consolidated revoked a pledge of 10 lakh shares on Jan. 07.
Comfort Intech: Promoter Luharuka Exports bought 1.22 lakh shares between Sep. 23 and Sep. 24, 2021.
Artefact Projects: Promoter Group Sushila Shah sold 35,000 shares between Jan. 03 and Jan. 05.
Innovative Ideals and Services: Promoter and Director Maqsood Dabir Shaikh sold 2 lakh shares between Jan. 05 and Jan. 06.
Filatex India: Penguin Trading & Agencies bought 25.85 lakh (1.14%) shares at the price of Rs 117 apiece.
Morgan Stanley Asia (Singapore) sold 19.90 (0.61%) lakh shares at Rs 19.18 apiece.
Spring Ventures sold 40 lakh (1.22%) shares at Rs 18.59 apiece.
CG Power and Industrial Solutions:
American Funds Fundamental Investors bought 17.63 lakh (1.3%) shares at Rs 199 apiece.
Amansa Holding sold 17.63 lakh (1.3%) shares at Rs 199 apiece.
Move Into Short-Term ASM Framework: Zee Learn, Jaiprakash Power Ventures, Black Box
Move Out Of Short-Term ASM Framework: Reliance Communications
Price Band Revised From 10% To 5%: JBM Auto
Avenue Supermarts: Raised to 'equal-weight' from 'under-weight' at Morgan Stanley, target price at Rs 4,338.
Spandana Sphoorty Financial: Cut to 'add' from 'buy' at ICICI Securities, target price at Rs 460.
Indian Hotels: ICICI Securities inititates coverage with 'buy', price target set at Rs 237.