Overnight digest: Stocks to keep a watch out for on August 24
At the start of the week, the domestic market witnessed strong buying interest and traded in the green. For the maximum time, Sensex and Nifty traded above the previous close on Monday. IT stocks along with the financial stocks sparkled today whereas the broader market faced a notable hit in today's trading session.
Following stocks are likely to be in focus on Tuesday:
Zydus Cadila - Zydus Cadila has received final approval from the US health regulator to market Tofacitinib extended-release tablets, used in the treatment of rheumatoid arthritis, in the American market. The stock has zoomed 2.5 per cent today. Keep a watch on this stock to know whether the positive outlook continues for Zydus Cadila or not.
HCL Technologies - The stock of this company has zoomed attractively today on the announcement of signing a contract with Munich Re, which is one of the world’s leading reinsurers, to create a next-generation digital workplace for its workforce.
Vodafone Idea - The government is not in favour of the merger of beleaguered Vodafone Idea with state-owned BSNL and MTNL. The stock is likely to be in focus for Tuesday's trading session for witnessing the impact of this news on the stock.
HDFC Bank - The bank is focussing on regaining lost market share in credit cards in the coming 3-4 quarters post the removal of the ban by the central bank imposed more than eight months ago. It is among the top-performing stock in the banking space today. The news announced today has infused some positive sentiments among the investors and is likely to be on investors' radar during Tuesday’s trading session.
Tata Motors - Tata Motors has now revealed its newest SUV christened as ‘Punch’. The SUV will be launched during the festive season. The company reports that it is its first SUV built on agile light flexible advanced architecture (ALFA-ARC), developed under Impact 2.0 design language. Keep this stock on your radar to know how the stock price of the company reacts to the launch of a new product.
IT stocks - IT stocks like MindTree, Larsen & Toubro Infotech, TCS, L&T Technology Services hit their 52-week highs today whereas the IT sector turned out to be the top gaining sector as compared to other sectors. These stocks may be in focus regarding the continuation of their upward trajectory.