Stocks in Focus: Today the focus will be on many stocks including Zee, Reliance, Vodafone Idea and SBI.
Stocks in Focus: A day before the weekly F&O expiry, the domestic equity market benchmark indices BSE Sensex (BSE Sensex) and Nifty 50 (Nifty 50) may see strength in Asian markets today. A trading day earlier, the Sensex closed with a gain of 497 points at 56,319 and the Nifty was up 157 points at 16,771 after two days of heavy fall. According to analysts, after a correction of more than 10 per cent, Nifty is now trading at 19.2x FY23 P/E and is no longer in the expensive zone. According to Siddharth Khemka, Head-Retail Research, Motilal Oswal Financial Services, the domestic market may also remain volatile due to the Omicron variant and volatility in global markets, but long term investors should take advantage of this volatility in the market and trade at lower levels. You should increase your portfolio. During trading today, the focus will be on stocks like Metro Brands, CE Info Systems (MapmyIndia), Indian Oil, Exide Industries, Reliance, Bharti Airtel, Vodafone Idea, SBI, Adani Transmission and Zee Entertainment.
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Today the focus will be on these stocks
- Metro Brands: The shares of Metro Brands, a leading footwear retail company owned by Big Bull Rakesh Jhunjhunwala, are listed today. This IPO of Rs 1368 crore was open for subscription between December 10-14 and was subscribed 3.64 times. The price band for this IPO was fixed at Rs 485-500 per share.
- CE Info Systems (MapmyIndia): Fidelity Investment Trust Fidelity Series Emerging Markets Fund has bought 3.18 lakh equity shares of the company at the rate of Rs 1404.47 and Goldman Sachs India Equity Portfolio has also bought 3.76 lakh equity shares at the rate of Rs 1392.99 through bulk deal on NSE.
- Indian Oil Corporation: The board of Indian Oil has approved the purchase of 36.93 lakh equity shares in Indian Gas Exchange Limited (IGX) with a face value of Rs 10, which is equivalent to 4.93 per cent stake.
If the weightage of Reliance may increase in the Sensex, then the stature of many big companies including TCS, HDFC Bank is likely to decrease.
- Exide Industries: Exide Industries will set up a greenfield multi-GW Lithium Ion Cell manufacturing plant in the country as part of the government’s plan to be a part of the PLI (Production-Linked Incentive) scheme to increase cell manufacturing. The company informed on Tuesday that the Board of Directors has given in-principle approval for this.
- State Bank of India: The country’s largest bank SBI has invested Rs 100 crore in JSW Cement through the company’s compulsorily convertible preference share. This investment will help JSW Cement to increase its capacity of 1.4 million tonnes per annum to 2.5 million tonnes per annum.
- Adani Transmission: Adani Transmission informed on Monday that it has completed the construction of 897 circuit km long intra-state transmission line in Uttar Pradesh.
- Airtel, Voda Idea, Reliance Industries: In October alone, Reliance Jio added subscribers and added 17.6 lakh wireless subscribers. Talking about other telecom companies, according to TRAI data, Bharti Airtel lost 4.89 lakh subscribers and Vodafone Idea 9.54 lakh subscribers in October.
- ZEEL: Zee Entertainment on Wednesday informed that the Board of Directors in its meeting on December 21 has approved the plan for the deal between Zee Entertainment Enterprises Limited (ZEEL), Bangla Entertainment & Private Limited (BEPL) and Sony Pictures Networks India Private Limited. .
Advice to bet on these stocks in intra-day
According to Reliance Securities, today you can bet on AU Small Finance Bank, Voltas and Persistence Systems in intra-day.
- AUBANK: In the price range of Rs 1,022- Rs 1,015, take a long position with a target price of Rs 1060 and a stop loss of Rs 994.
- VOLTAS: In the price range of Rs 1,162- Rs 1,154, you can take a long position with a stop loss of Rs 1130 and a target price of Rs 1210.
- PERSISTENT: In the price range of Rs 4,395- Rs 4,365, you can take a long position with a target price of Rs 4,540 and a stop loss of Rs 4,320.
(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.)
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