Stocks in Focus: During the trading today, the focus will be on these stocks including Indian Oil and TCS.
Market Outlook: After three consecutive days of rally this week, today (December 24) also the domestic equity market may remain strong. In the last trading session, on the day of weekly F&O expiry, the Sensex rose by 384 points to 57315 and the Nifty 50 also closed at 17073 with a gain of 117 points. According to Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities, if the bullish trend continues in the Nifty, then it can reach the level of 17150-17200. However, if it slips below the psychological level of 17000, then it may slide to the level of 16930-16850. Talking about individual stocks, today the focus will be on Data Patterns, Indian Oil, TCS, L&T, REC and Adani Total Gas. Reliance Securities has suggested some stocks for intra-day.
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Today focus will be on these stocks
- Data Patterns India: The shares of Data Patterns (India), a company supplying electronic systems for the defense and aerospace sectors, are listed today. The Rs 588 crore IPO was open for subscription between December 14-16 and received an overwhelming response from investors. This issue was subscribed 119.62 times. Under this issue, new shares worth Rs 240 crore have been issued. The issue price is Rs 585 per share.
- IOC: State-owned oil company Indian Oil is setting up a new crude oil pipeline system. It will have a capacity of 17.5 million tonnes per annum from Mundra Port City in Gujarat to Panipat Refinery in Hariyama.
- TCS: Mobilidre, the oldest private non-life insurance company in the Swiss market, has chosen India’s IT giant Tata Consultancy Services (TCS) as its long-term strategic partner. Through this partnership, Mobilidre will fulfill its digital transformation agenda.
- L&T Finance Holdings: Foreign lender HSBC has announced that its asset management arm will acquire L&T Mutual Fund. The value of this deal is about $ 425 million (Rs 3192 crore).
L&T Mutual Fund: L&T Mutual Fund will be sold to HSBC AMC for Rs 3200 crore
- REC: Navratna company Rural Electrification Corporation (REC) has entered into a deal with KfW Development Bank. Under this, it has got power finance sector and renewable energy projects worth $ 169.5 million.
- Adani Total Gas: State-run oil companies Indian Oil and Adani Total Gas have bid for the highest number of licenses in the recent city gas bidding rounds ranging from retail CNG to automobiles and piped cooking gas. Adani Total Gas is a joint venture between the gas giant Gautam Adani’s gas company and Total of France.
- Tega Industries: The company has approved the setting up of an additional large plant in Chile.
- Medplus Health: On Thursday, there was a great listing of the shares of Medplus Health. Its shares opened in the stock market at a premium of about 31 percent i.e. Rs 1,040 per share on BSE against the issue price of Rs 796.
Advice to bet on these stocks in intra-day
According to Reliance Securities, today you can bet on Colgate Palmolive, LIC Housing Finance and Siemens in intra-day.
- COLPAL: In the price range of Rs 1,456- 1,448, you can take a long position with a target price of Rs 1,495 and a stop loss of Rs 1,432.
- KOTAKBANK: In the price range of Rs 361- 359, you can take a long position with a stop loss of Rs 350 and a target price of Rs 374.
- CUMMINSIND: You can take a long position in the price range of Rs 2,416- Rs 2,402 with a target price of Rs 2,495 and a stop loss of Rs 2,374.
(The stock recommendations given in the story are from 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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