Overnight Digest: Keep these stocks on your radar for January 28
HCL Technologies, Tech Mahindra, Dr Reddy’s Laboratories, TCS and Wipro were the top Nifty losers, while gainers included Axis Bank, SBI, Maruti Suzuki, Cipla and Kotak Mahindra Bank.
On Thursday, benchmark indices ended in red with Nifty settling below 17,200 in the highly volatile session after Federal Reserve in its policy outcome indicated interest rates hike soon.
Among sectors, the PSU bank index was up 5 per cent, while auto and bank indices rose 0.3-1 per cent. However, FMCG, realty, pharma, and IT indices lost 1-3 per cent.
In the broader markets, BSE midcap and smallcap indices fell 0.8-1.2 per cent.
Keep a watch on these stocks for Friday's trading session-
Zomato - The shares are experiencing a free fall. In the last five trading sessions, the stock has rattled over 30 per cent. The door has been closed for the traders and investors who want to exit. Trading in the shares has been frozen at the lower end of the 10 per cent intra-day circuit filter Rs 90.45. Keep a watch on this stock for further trading sessions.
Torrent Pharmaceuticals - The shares of Torrent Pharma tumbled 14 per cent to Rs 2,705 on the BSE in Thursday’s intraday trade after the company reported results for the December quarter (Q3FY22). Profit after tax (PAT) declined 16 per cent year on year (YoY) to Rs 249 crore. In Q3FY22, earnings before interest tax and depreciation and amortization (EBITDA) margins declined 490 bps YoY to 25.5 per cent driven by price erosion in the US. Revenues grew 5.7 per cent YoY to Rs 2,108 crore, due to 15 per cent YoY growth in domestic formulations business to Rs 1,072 crore.
Aviation Stocks - Shares of aviation companies were observed to be under selling pressure due to rising crude oil prices with InterGlobe Aviation declining by 7 per cent to Rs 1,838.75 and SpiceJet had hit a 52-week low at Rs 57.70, down 5 per cent on the BSE in Thursday’s trading sessions. These companies have decent exposure to the price movement of Aviation Turbine Fuel (ATF) which is a derivative of crude oil.
Upper Circuit Stocks - TV18 Broadcast, Network18, Deepak Fertilisers, Suzlon and Brightcom Group have locked in the upper circuit on Thursday amid a bearish day for equity markets.