Overnight Digest: Stocks to be watched on January 10
The domestic equity markets started 2022 on a positive note with most of the indices moving in upward direction this week. Despite the surge in covid cases in India and globally, the markets moved higher as the severity of Omicron variant seems to low. Sensex and Nifty inched up by 2.6 per cent each during the week.
In Friday's trading session, Grasim Industries, ONGC, Hindalco Industries, HDFC Life and Shree Cements were among the top Nifty gainers. Losers were M&M, Bajaj Finserv, L&T, Bajaj Finance and HDFC.
Keep a watch on these stocks for Monday's trading session:
JSW Steel - Union Steel Minister, Ram Chandra Prasad Singh laid the foundation stone for the new 5 MTPA project at JSW Steel Vijayanagar Works integrated steel facility in Ballari, Karnataka. This brown-field expansion project is being undertaken through JSW Vijayanagar Metallics Ltd, a wholly-owned subsidiary of JSW Steel Ltd. The company has earmarked a capex investment of Rs 15,000 crore for this expansion and is expected to be completed by FY24.
Century Plyboards - The company has made further investments to the extent of Rs 28 crore in its wholly-owned subsidiary company, Century Panels Limited, by way of subscription to 2 crore and 80 lakh fully paid-up equity shares of face value Rs 10 each through rights issue.
Reliance Industries - Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries has acquired, by way of off-market purchase, 1,84,00,000 equity shares of the face value of Re 1 each for Rs 375 per equity share aggregating Rs 690 crore from Shapoorji Pallonji and Company Private Limited, one of the promoters of Sterling and Wilson Renewable Energy Limited (SWREL). Consequent to such acquisition, RNESL holds 25.16 per cent of the total paid-up equity share capital of SWREL.
Upper Circuit stocks - The stocks of Suzlon Energy and MTNL are locked in the upper circuit on Friday. Keep an eye on them on Monday.