Stocks in Focus: During trading today, there will be focus on stocks like Reliance, TCS and Avenue Supermarts.
Market Outlook: In the new year 2022, the domestic market entered with strength and Sensex and Nifty were bullish for most of the trading days of this year. Domestic benchmark indices also strengthened on Friday. This business week the focus will be on the financial results of IT companies. Apart from this, inflation data in India and America will also affect the movement of the market. Market experts believe that volatility may remain on the higher side and investors need to be careful. Talking about individual stocks, the focus will be on Reliance, Tata Steel, D Mart, TCS, Adani Enterprises, DLF, TCS, 5Paisa Capital, ICICI Bank and CSB Bank.
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Today focus will be on these stocks
- Reliance Industries: Mukesh Ambani-owned Reliance informed about the acquisition of 73.37 percent of New York’s premium luxury hotel Mandarin Oriental. The deal was done by the company through its subsidiary Reliance Industrial Investments and Holdings Ltd., worth $ 98.5 million (Rs 728.13).
- Tata Steel: Tata Group’s steel company has increased its stake in Medica TS Hospital Pvt Ltd from 26 per cent to 51 per cent in a joint venture. Tata Steel has informed that it has converted 5102 optionally convertible debentures of Rs 1,000 each into fully paid-up 510200 equity shares of Rs 10 each.
- DMart: Radhakishan Damani’s Avenue Supermarts (D Mart) consolidated net profit grew 23.62 per cent to Rs 552.53 crore in the December 2021 quarter. The company’s revenue from operations grew 22.22 per cent to Rs 9217 crore in the December quarter on a year-on-year basis.
- TCS: On Friday, the giant IT company TCS gave information about the proposal of buyback of the company’s shares. According to the information, in the meeting on January 12, the Board of Directors will consider the proposal for buyback of shares.
- Adani Enterprises: Adani Enterprises, owned by Gautam Adani, has formed a new subsidiary, Adani New Industries. This new company will complete green hydrodon projects and make wind turbines, solar modules and batteries.
- DLF: Real estate giant DLF has informed the stock exchanges about the launch of a luxury residential address ‘One Midtown’ in New Delhi.
- CSB Bank: In a regulatory filing on Saturday, CSB Bank informed that the bank’s MD and CEO CVR Rajendran has taken premature retirement. He decided to leave his post on the advice of doctors to look after his health.
- ICICI Bank: The central bank RBI has re-appointed Anup Bagchi as executive director of ICICI Bank for a period of three years.
You can bet on these stocks in intra-day
According to Reliance Securities, today you can bet on Polycab, Ambuja Cements and Havells in intra-day. POLY CAB, AMBUJA CEMENT, HAVELLs,
- POLYCAB: One can take short positions in the price range of Rs 2,445- Rs 2,430 with a target price of Rs 2,530 and a stop loss of Rs 2,414.
- AMBUJACEM: In the price range of Rs 391- 389, you can take a long position by placing a stop loss of Rs 384 at the target price of Rs 404.
- HAVELLS: One can take short positions in the price range of Rs 1,390- Rs 1,405 with a target price of Rs 1,340 and a stop loss of Rs 1,430.
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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