Overnight Digest: Stocks likely to be in focus on May 24
India VIX gained 1.29 per cent to end at 23.4 levels on Monday.
On Monday, markets erased the gains in afternoon trade after not being able to recover post the export tax imposed on steel products. The benchmark indices ended marginally lower in the volatile session on Monday.
At the close, Sensex was down 37.78 points or 0.07 per cent at the 54,288.61 level, and Nifty was down 51.50 points or 0.32 per cent at the 16,214.70 level.
Among sectors, auto, capital goods, and IT indices added 0.5-1 per cent whereas on the flip side metal index tumbled 8 per cent, and the realty, pharma, and oil & gas index slipped 1 per cent. In the broader markets, BSE midcap and smallcap indices ended in the red.
Keep a watch on these stocks for Tuesday's trading session -
Amara Raja Batteries - The share price of the company dipped 6 per cent on reporting a decline of 47.80 per cent in consolidated net profit at Rs 98.85 crore in Q4FY22. Revenue from the operations was 3.72 per cent up at Rs 2,180.96 crore during the quarter as compared to Rs 2,102.61 crore in the year-ago period. The stock ended the trading session 5.71 per cent lower at Rs 498.95 per share.
UPL - The company announced the launch of ZOATIN, a new biosolution that effectively facilitates plant uptake and utilisation of phosphorus to improve crop health and yield. ZOATIN is the first product launched as part of UPL’s partnership with global bioscience company Chr. Hansen to develop microbial biosolutions that will help growers around the world fight pests and diseases, and sustainably improve crop quality and yields. The share closed 2.12 per cent down on Monday.
Divis Laboratories - The company has posted a 78.2 per cent increase in its consolidated net profit of Q4FY22 standing at Rs 894.6 crore while revenue was up 40.8 per cent at Rs 2,518.4 crore. EBITDA improved 54.2 per cent at Rs 1,104.4 crore while EBITDA margin was recorded at 43.8 per cent. Divis Laboratories traded in green for the first half of the trading session but took a sharp downturn and ended the trading session around 10 per cent lower at Rs 3,892 post declaration of the results.
Tata Power Company- Tata Power Company and Tata Motors have joined hands for the development of a 7 MWp solar rooftop project at Tata Motors’ Passenger Vehicle Plant in Chikhali, Pune. This is the third phase of a joint 17 MWp on-site solar project developed by the two companies, of which a 10 MWp has been installed earlier. With this latest installation, the Tata Motors PV manufacturing unit, installed by Tata Power, will become home to India’s largest on-site solar project.