Overnight Digest: Stocks to be watched out for on March 22

Overnight Digest: Stocks to be watched out for on March 22

Shreya Chaware
/ Categories: Trending, Mindshare

On Monday, only four Sensex stocks closed in green namely HDFC Bank, Sun Pharmaceuticals, NTPC and Titan.

On Monday, the benchmark indices started the session on a bit higher note but ended deep in the red amid volatility. Sensex fell 571.44 points or 0.99 per cent at 57292.49 level, and the Nifty was down 69.40 points or 0.98 per cent down at 17117.60 level.

Among the sectors, auto, banks, realty and power lost over a per cent each while metal stocks witnessed buying. In the broader markets, the midcap index shed half a per cent while the smallcap index added over 0.5 per cent. 

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

Greaves Cotton - The shares of this company rallied 6 per cent to Rs 187.50 per share on the BSE in Monday’s trading session, having gained 15 per cent in the previous two trading days due to heavy volumes after the company entered into a pact with Bounce Infinity to provide battery swapping stations for Greaves Electric Vehicles. With this collaboration, Greaves Retail becomes the first company to have hopped on to the Bounce Infinity battery-swapping network.

Zydus Lifesciences - The company received Prior Approval Supplement (PAS) approval from the USFDA to market Mycophenolate Mofetil for Injection USP, 500 mg/vial (US RLD: CellCept injection). The injection will be manufactured at the group’s injectables manufacturing facility at Jarod near Vadodara in Gujarat. The stock has ended Monday's trading session 1.59 per cent lower. 

Ruchi Soya - A part of the Patanjali Group, the company has fixed a price band at Rs 615 to Rs 650 per share for its follow-on public offer. The follow-on public offering (FPO) of Ruchi Soya Industries Limited will open on Thursday, March 24, 2022, for subscription and will close on Monday, March 28, 2022. The FPO comprises fresh issuance of equity shares for an amount aggregating to Rs 4,300 crore. The issue also includes a reservation of up to 10,000 equity shares for subscription by eligible employees. On Monday, the stock has plunged 9.92 per cent on an intraday basis.

IT stocks - Information technology (IT) companies gained up to 2 per cent on the bourses on Monday as investors assessed the implications of Accenture's solid Q2FY22 results for the Indian IT sector. Wipro, Tech Mahindra, Infosys, Coforge and Mphasis from the Nifty IT index zoomed in the range of 1 per cent to 2 per cent in the intra-day trade. Meanwhile, Nifty IT index gained 0.8 per cent in intraday trade. 

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