Stocks to Watch: IndusInd, Suzlon, ASK Auto, Grasim, Adani Ports, HCL Tech | Mint
Active Stocks
Wed Feb 21 2024 14:56:31
  1. Tata Steel share price
  2. 143.35 1.63%
  1. Bharti Airtel share price
  2. 1,136.05 -0.71%
  1. State Bank Of India share price
  2. 770.30 1.34%
  1. Power Grid Corporation Of India share price
  2. 279.70 -2.87%
  1. ITC share price
  2. 402.20 -0.95%
Business News/ Markets / Stock Markets/  Stocks to Watch: IndusInd, Suzlon, ASK Auto, Grasim, Adani Ports, HCL Tech

Stocks to Watch: IndusInd, Suzlon, ASK Auto, Grasim, Adani Ports, HCL Tech

FIIs continued selling on Monday as domestic market consolidated on lack of investor activity amid the festive season and weak global cues. The investment by DIIs also moderated to ₹830 crore, which was much lesser than the foreign capital outflow on a weaker rupee.

Stocks to Watch for WednesdayPremium
Stocks to Watch for Wednesday

Here are the top stocks that could be in focus in today's trade:

IndusInd/Suzlon/Paytm/Persistent Systems: MSCI is set to adjust its MSCI Standard Index, drawing attention from analysts who are closely monitoring potential inclusions such as IndusInd Bank, Suzlon Energy, Persistent Systems, and One97 Communications. Nuvama Alternative & Quantitative Research predicts significant inflows into these stocks, estimating $290 million for IndusInd Bank, $264 million for Suzlon Energy, $258 million for Persistent Systems, and $163 million for One97 Communications, the parent company of Paytm.

ASK Automotive: ASK Automotive IPO listing date has been scheduled today. According to Kris Arun Kejriwal, Founder, Kejriwal Research and Investment Services an advisory firm, it is expected that the ASK Automotive shares will list between 300 and 310 from the issue price of 282. ASK Automotive IPO allotment was finalised on Friday, November 10, and refund process also started on the same date for individuals not given shares.

Grasim: Aditya Birla group flagship Grasim Industries Ltd on Monday said consolidated net profit for the second quarter rose 15.31% from a year ago to 1,163.75 crore, aided by its cement and financial services businesses. Consolidated revenue from operations rose 10% to 30,220.68 crore. Earnings before interest, taxes, depreciation, and amortization (Ebitda) on a consolidated basis slumped 19% to 4,509 crore with a margin of 15%, the company said in an exchange filing.

Adani Ports: Adani Ports and Special Economic Zone Ltd (APSEZ) has registered its highest ever half-yearly revenue of 12,894 crore and EBITDA of 7,429 crore in the second-quarter, according to a press release by Adani Ports and Logistics. The APSEZ announced its results for the second quarter and six months ending September 30, 2023, on Monday. Karan Adani said that the APSEZ reported a 48 per cent jump in cargo volumes to reach its life-time high monthly volumes of 37 MMT

HCLTech: IT services company HCLTech on Tuesday announced the appointment of Sonia Eland as executive vice president and country manager for its Australia and New Zealand operations with effect from April 1, 2024. Eland takes over from Michael Horton, who moves into a consulting role after a stint of close to 10 years, during which he helped establish HCLTech as a digital technology services partner in Australia and New Zealand, the company said in a release.

Federal Bank: Fedbank Financial Services received capital markets regulator Sebi's approval to raise funds through initial public offerings (IPO). Federal Bank obtained the watchdog's observation letters, an update with the regulator showed on Monday. Under the OFS, Federal Bank will offload 1.65 crore shares, and True North Fund VI LLP will divest 5.38 crore shares.

Tata Steel: Tata Steel on Monday said its Netherlands unit would scrap around 800 jobs at its under-pressure plant in IJmuiden near Amsterdam in a bid to “improve market conditions and bring down costs," reported AFP. "The steel market has been in dire straits for some time. In order to remain structurally competitive and profitable now and in the future, Tata Steel Netherlands is taking significant measures, including a reduction of 800 jobs in IJmuiden" near Amsterdam, Tata Steel said in a statement.

Manappuram Finance: Manappuram Finance on November 13 reported a consolidated net profit of 560.65 crore in the second quarter of fiscal year 2023-24 (Q2FY24), marking a growth of 37 percent as compared to 409.5 crore clocked in the year-ago period. Sequentially, the net profit increased by 12.5 percent, as compared to 498.02 crore reported in the quarter ending June 2023.

Kalyan Jewellers: Jewellery retailer Kalyan Jewellers on Tuesday reported a 27.33 per cent on-year growth in consolidated profit after tax (PAT) during the quarter ended September 30, at 134.87 crore. The company's PAT stood at 105.92 crore in the corresponding period of the previous financial year, the jewellery retailer said in a regulatory filing. Revenue from operations of the company grew by 27.11 per cent during the quarter under review at 4,414.53 crore, compared to 3,472.91 crores in the same period of the previous fiscal.

UPL: UPL will help Brazil to convert degraded pastures into productive land for agricultural uses to increase production and ensure food security, fighting hunger, said Brazilian agriculture and livestock minister Carlos Favaro. Brazil has an extensive landmass of 851 million hectares, with 66) covered by native forests and 18.6% allocated to pastures. Among these pasture lands, 40 million hectares have been identified as having substantial potential for agricultural development.


Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Nov 2023, 07:25 AM IST
Next Story footLogo
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App