Overnight Digest: Stocks likely to be in focus on July 14

Stocks to watch out for Thursday's trading session.

On Wednesday, striking out the early gains, the domestic benchmark indices ended lower with Sensex slipping around 372 points and Nifty closing below the 16,000 level.  

Within Sensex, HUL, Sun Pharma, Asian Paints, Kotak Mahindra Bank, and NTPC emerged as the Top Gainers whereas the Top Losers dragging the index included IndusInd Bank, Bharti Airtel, HDFC twins & Reliance Industries.  

Among the sectors, FMCG, metal as well as pharma indices settled higher with nearly a per cent gain while oil & gas and power indices along with telecom & utilities slipped a per cent each. 

Keep an eye on these stocks for Thursday's trading session: 

RBL Bank - India Mortgage Guarantee Corporation (IMGC), India’s first and only mortgage guarantee company, announced its strategic partnership with RBL Bank to offer innovative mortgage guarantee (MG)-backed home loan products for salaried & non-salaried prospective customers. This partnership with IMGC will help RBL Bank extend MG-backed home loans to new borrower segments through its network of over 500 branches across the country. The shares of RBL Bank traded quite volatile during Wednesday's trading session, ending 0.18 per cent lower.  

Bharat Forge - The shares of Bharat Forge traded on an optimistic note today as the company has informed incorporation of a wholly-owned subsidiary in the name of Kalyani Lightweighting Technology Solutions Limited (KLTSL) on July 12, 2022. KLTSL has been incorporated with a focus to create a separate vertical for aluminium business and also, for light-weighting technology. KLTSL will concentrate on manufacturing aluminium components for automotive & industrial applications along with research and development activity on light-weighting through new materials & technologies.  

Varun Beverages - In an otherwise weak market, the shares of Varun Beverages gained more than 2 per cent on the expectation of strong earnings. The shares of VBL hit a new high of Rs 870 per share. For the past two consecutive years, the company has issued bonus shares in the ratio of 1:2 i.e. one bonus share for every two shares held in the company. On a one-month and six-month basis, the stock is seen outperforming the benchmark indices. VBL is a key player in the beverage industry and one of the largest franchisees of PepsiCo in the world (outside the USA). Keep this stock on your radar for the upcoming trading sessions.  

Care Ratings - The company announced that the board of directors of CARE Ratings would consider a buyback of shares on July 20, 2022. Reacting to the news, the shares of CARE Ratings were trading 9.6 per cent higher at the beginning of the trading session at Rs 455 per share due to heavy volumes. The trading volumes on the counter soared over five-fold, adding up to around 5,20,000 shares having changed hands on NSE & BSE. Throughout the trading session, the stock traded in a cheering mood and ended 14.81 per cent higher on BSE.