Overnight Digest: Stocks to keep an eye on July 15
Watch out for these stocks on Friday
The domestic equity benchmarks, BSE Sensex and NSE Nifty50 continued their losses in a consecutive fourth as the financial and IT pockets erased the gains in the second half of the session.
At close, the benchmark indices ended marginally lower with Sensex being down 98 points or 0.18 per cent at 53,416.15 level whereas Nifty slipped 28 points or 0.18 per cent ending at 15,938.70 level. ONGC, Sun Pharma, Kotak Mahindra Bank, Dr Reddy’s Labs and Maruti Suzuki were among the top Nifty gainers, while losers included Hero MotoCorp, Axis Bank, HCL Technologies, Tech Mahindra and SBI.
On the sectoral front, IT and PSU Bank indices slipped 1-2 per cent whereas Oil & Gas and Power indices zoomed between 1 and 1.6 per cent. In the broader markets, the BSE midcap and smallcap indices ended in the red.
Watch out for these stocks on Friday-
Wipro - As part of Wipro Consumer Care & Lighting's strategy for continuous growth, Wipro has announced its foray into packaged foods business in India. The company has charted an ambitious plan to be a significant player in the snack food, spices, and ready-to-eat market. The shares of Wipro traded in green during the first half of Thursday's trading session but ended 1.2 per cent lower fading the gains. The shares of Wipro touched a 52-week low of Rs 400.50 per share in today's trading session.
NMDC - In a rangebound market today, the shares of NMDC touched its 52-week low price of Rs 101.50 per share, plunging 4 per cent on an intraday basis and 7 per cent in the last three trading sessions. The fall came due to worries over the possibility of weak earnings coming from the company for Q1FY23 due to a decline in iron-ore prices. The shares of NMDC ended the trading session 3.6 per cent lower.
Torrent Power - The company announced that Solar Energy Corporation of India Limited (SECI) has granted a Letter of Award to the company for a Wind Power Project of 300 MW and confirmed a long-term Power Purchase Arrangement for the power generated from the proposed project. The project will be set up in the state of Karnataka and the estimated cost would be Rs 2,600 crore. The shares traded in green and ended 1.74 per cent higher on Thursday.
Butterfly Gandhimathi Appliances - The shares of Butterfly Gandhimathi Appliances touched their day-high price and made a new 52-week high price of Rs 1618.30 per share on reporting Q1FY23 earnings. Net profit stood at Rs 13.2 crore against Rs 0.9 crore on a YoY basis whereas revenue was up 85.7 per cent at Rs 253.5 crore as compared to Rs 136.5 crore on a YoY basis. EBITDA was recorded at Rs 25.8 crore in comparison with Rs 7.3 crore and the EBITDA margin improved to 10.2 per cent against 5.4 per cent.