Overnight Digest: Stocks to be kept an eye on April 12

On the sectoral front, BSE Power index dominated by jumping 5 per cent, followed by oil & gas and realty indices, which climbed over 2 per cent and 1 per cent, respectively.

On Monday, the European and Asian markets traded lower at the beginning of the week with key central bank meetings and US inflation prints. The domestic benchmark indices traded lower as offhand global sentiments and rising bond yields undermined the rally in the equities. 

Sensex was down by 482.61 points or 0.81 per cent at 58,964.57 level while Nifty was down by 109.30 points or 0.61 per cent at 17,675.00. About 2,072 shares have advanced, 1,393 shares declined, and 121 shares are unchanged. 

On the sectoral front, BSE Power index dominated by jumping 5 per cent, followed by oil & gas and realty indices, which climbed over 2 per cent and 1 per cent, respectively. The dragging sectoral indices were IT and capital goods indices, which plunged a per cent each. In the broader markets, BSE Midcap and small-cap indices were up by 0.4 per cent each. 

Keep a watch on these stocks for Tuesday's trading session: 

Tata Motors - Tata Motors is planning to ramp up the production of electric vehicles as demand continues to overcome the manufacturing activity by a huge margin. The company has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range. The company sells three electric products i.e. Nexon EV, Tigor EV, and XPRES-T in the domestic market. On a falling market day like Monday, the stock traded in green and ended 0.21 per cent higher.   

Hindustan Aeronautics - The company announced that it has signed a contract with the Nigerian Army for imparting Phase-II flying training on Chetak Helicopter for six officers of Nigerian Army Aviation. This marks the continuation of the contract signed in April 2021 for imparting Phase-I flying training to six Nigerian Army Aviation officers, which was successfully executed in December 2021. The Phase-II flying training on Chetak Helicopter is scheduled to commence on Monday and is expected to be completed by December 2022. The stock ended the trading session 3.68 per cent higher thereby, outperforming the equity markets.  

ITC - The shares of this FMCG major hit a two-year high of Rs 273.10 per share, up by nearly 2 per cent in an otherwise weak market. The stock has zoomed 6 per cent in the last two trading sessions on the expectation of robust earnings underpinned by improved cigarette volumes. The share price of ITC was trading at its highest level since July 2019. On a YTD basis, the stock has outperformed the market by ascending 25 per cent in comparison with a 1.6 per cent rise in BSE Sensex.  

Tejas Networks - The shares of this telecommunication company faded from its two-week gaining streak and froze at a 5 per cent lower circuit at Rs 578 per cent, contracting 10 per cent from their intraday high. In the past two weeks, it has soared. The stock has locked in a 5 per cent upper circuit on a consecutive basis in four out of the past six trading sessions. It is still trading above its key moving averages, which is likely to indicate a bullish sentiment towards the stock's performance. Keep a watch on this stock for further trading sessions.