Stocks in Focus: Today the focus will be on companies like Reliance, Bank of Baroda, ONGC, Asian Paints and HUL.
Market Outlook: Today (January 20) on the day of weekly F&O expiry, there has been a weak start in the domestic market. According to analysts, volatility is expected to remain in intra-day today. According to Prashant Taapsee, Vice President (Research), Mehta Equities, technically Nifty needs to hold above 17900 to regain the bullish trend. According to Taapsee, if the Nifty reaches above 18389, then once a bullish trend can be seen in it. However, if it slips below 17900, selling pressure can be seen on it.
Talking about individual stocks, today Reliance, Bank of Baroda, ONGC, Oil India, VA Tech Wabeg, Sterlite Tech, JSW Energy, Bajaj Auto, HUL, Biocon, Asian Paints, Bajaj Finserv, Havells India, PNB Housing, CCI, Mphasis The focus will be on companies like Shoppers Stop and Bank of Maharashtra. On the other hand, experts have bet on IPCA Laboratories, Delta Corporation and Tata Chemicals in intra-day.
Join here for Live Updates related to Stock Market
Focus on these stocks today
- Reliance: Telecom sector giant Reliance Jio has fully paid the spectrum payments due before March 2021. Jio has paid Rs 30791 crore to the Department of Telecommunications. With this decision of Reliance Jio, it will save about Rs 1200 crore because this due could have been paid from FY 2023 to FY 2035 but then interest would have to be paid on it at 9.3-10 per cent per annum. Reliance Jio has saved interest by paying it ahead of time.
- Bank of Baroda: Bank of Baroda plans to raise Rs 1 thousand crore by issuing additional Tier-1 bonds under Basel-3 next week. However, the bank can increase this amount as it is still under process.
- ONGC, Oil India: Oil and Natural Gas Corporation (ONGC) production fell 3 per cent in December and 16.5 million tonnes of crude oil was produced due to delays in mobilizing equipment in the western offshore fields. However, Oil India’s production increased by 5.4 per cent to 2,54,360 tonnes.
- VA Tech Wabag: Chennai-based pure-play water technology company VA Tech is betting big on Wabeg desalination projects. The company believes that there is a lot of room for growth in India, North Africa and West Asia (mainly Saudi Arabia and Egypt) over the next five years.
- Sterlite Technologies: Sterlite Technologies incurred a loss of 137 crores in the December 2021 quarter due to one-time provisioning for a customer. A year ago, in the December 2020 quarter, the company had a profit of Rs 86.64 crore. However, in the third quarter of the current financial year, revenue increased by 3.12 percent to Rs 1370.96 crore.
- JSW Energy: JSW Energy’s consolidated operating profit grew 31 per cent year-on-year to Rs 790.14 crore in the December 2021 quarter. The company’s profit increased due to reduction in higher short-term (merchant) sales, operations and maintenance cost.
- Bajaj Car: Due to lower sales, the consolidated profit after tax of two-wheeler giant Bajaj Auto fell by 17 per cent to Rs 1430 crore in the December 2021 quarter. A year ago this profit was Rs 1716 crore.
- Results of these companies today: Today the results of many companies including HUL, Biocon, Asian Paints, Bajaj Finserv, Havells India, PNB Housing, CCI, Mphasis, Shoppers Stop and Bank of Maharashtra will come.
You can bet on these stocks in intra-day
According to Reliance Securities, today you can bet on IPCA Laboratories, Delta Corporation and Tata Chemicals in intra-day.
- IPCALAB: One can take long positions in the price range of Rs 1,056- 1,048 with a target price of Rs 1,105 and a stop loss of Rs 1,024.
- DELTACORP: In the price range of Rs 289- 286, you can take a long position by placing a stop loss of Rs 278 at the target price of Rs 304.
- TATACHEM: One can take long positions in the price range of Rs 1,006- 998 with a target price of Rs 1,040 and a stop loss of Rs 979.
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
.