GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index waas trading 53 points or 0.23% lower at 23,884 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 closed the session 258 points or 1.07% lower at 23,883, while the BSE Sensex rose 821 points or 1.03% to close at 78,675.
Stocks to watch on November 13, 2024
Britannia Industries
The urban slowdown within the domestic fast-moving consumer goods (FMCG) market that has hurt the financial performance of most majors in the September quarter is due to rising housing prices and low wage hikes, Britannia’s vice chairman and MD Varun Berry said during an earnings call on Tuesday
Nykaa
Beauty and fashion firm FSN E-commerce, which operates Nykaa, posted a 66% jump in profit after tax (PAT) year-on-year to Rs 13 crore compared to Rs 7.8 crore a year ago. Its revenue from operations stood at Rs 1,874.7 crore, up 24% from Rs 1,507 crore in Q2FY24.
Tata Chemicals
Tata Chemicals said its wholly-owned subsidiary Tata Chemicals Europe is planning to invest 60 million Euro (Rs 655 crore) to build a 1,80,000 tonnes per annum pharmaceutical grade sodium bicarbonate plant in Northwich in the UK. This new plant will triple TCEL’s production capacity of pharmaceutical-grade sodium bicarbonate in the UK, Tata Chemicals said in a regulatory filing.
Reliance Industries
Reliance Industries signed a memorandum of understanding to invest Rs 65,000 crore in setting up of 500 compressed biogas (CBG) plants in Andhra Pradesh (AP).
Larsen & Toubro
Larsen & Toubro informed the exchanges that it has received a ‘limited notice to proceed’ from NTPC for setting up thermal power plants worth over Rs 15,000 crore. L&T does not disclose the exact value of its order wins. However, analysts estimate it to be around Rs 22,000 crore.
Indian Oil Corp
Indian Oil Corp expects to complete the expansion of its refineries in Panipat, Gujarat and Barauni by December of next year. “We see all three refinery expansions converging by December 2025,” reported Reuters citing sources familiar with the information,
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