Overnight Digest: Watch out for these stocks on January 12
On Tuesday, domestic benchmark indices portrayed a flattish trend with positive bias on the back of expectations of a strong quarter amid concerns over rising cases, supply issue and inflationary pressure.
HCL Technologies, Adani Ports, ONGC, HDFC and Tech Mahindra were among the top Nifty gainers. Losers were JSW Steel, Tata Steel, BPCL, Hindalco Industries and Coal India.
Among sectors, metal index fell over 2 per cent, while buying was seen in the IT, power, oil & gas and realty stocks. The BSE midcap and smallcap indices ended flat.
Keep a watch on these stocks in Wednesday's trading session:
Shriram Transport Finance - The company has successfully raised USD 475 million Fixed Rate Senior Secured 144A /Reg S Bond (available ECB limit for FY 22) for a 3.5-year tenor at an interest rate of 4.15 per cent. The proceeds from the STFC social bond would be used for employment generation, including through micro, small, and medium-sized enterprise (MSME) financing. The stock has traded flat in Tuesday's trading session.
One97 communications - One 97 Communications, the operator of digital payments platform Paytm, fell more than 2 per cent to hit a fresh record low on Tuesday, despite more than four times jump in loan disbursals in December 2021 quarter. Keep a watch on this stock for further trading sessions.
Metal Stocks - BSE Metal Index plunged 2.13 per cent in Tuesday's trading session underperforming the benchmark indices. Jindal Steel, SAIL, JSW Steel, Tata Steel and Vedanta were the top losing stocks within the BSE Metal Index. Keep metal stocks on your radar for Wednesday's trading session.
Vodafone Idea - The stock of Vodafone Idea came tumbling down almost 20 per cent in Tuesday's trading session. The company announced that the board has approved the conversion of the full amount of interest related to spectrum auction instalments and AGR dues into equity. Following the conversion, the government will become the single-largest shareholder of the company with a 35.8 per cent stake and the promoter shareholders would hold 28.5 per cent (Vodafone Group) and around 17.8 per cent (Aditya Birla Group), respectively. The stock has a high chance of being on investors radar for further trading sessions.