Overnight Digest: Stocks to be watched out on March 4
These stocks are likely to be in focus on Friday
The core equity indices ended in red with Nifty below 16500 in the highly volatile market on Thursday dragged by the auto and financial names. Sensex dropped 0.66 per cent closing at 55,102.68 level and Nifty closed 0.65 per cent lower at the 16,498 level.
On the sectoral front, auto, capital goods and bank slipped 1-2 per cent whereas FMCG and realty indices ended 0.5 per cent lower respectively. On the other hand, metal, IT, oil & gas, power indices rose 1-2 per cent. BSE midcap index shed 0.6 per cent and BSE smallcap index rose 0.35 per cent.
Keep an eye on these stocks for Friday's trading session :
Vodafone Idea - The stock of this telecom company zoomed 7 per cent to Rs 11.17 on Thursday in an otherwise bearish market ahead of the board meeting to consider fundraising. The stock quoted higher for the fourth straight day and has gained 16 per cent during the period. The stock had hit a 52-week high of Rs 16.79 on December 10, 2021.
Sugar stocks - The sugar stocks were seen in a sweet spot on Thursday. The shares of sugar companies were in talks with most of the frontline stocks trading up to 8 per cent higher. This was due to higher ethanol demand on the back of rising oil prices. Balrampur Chini Mills, Dhampur Sugar Mills, Triveni Engineering, Shree Renuka Sugars, Dwarikesh Sugar Industries and Dalmia Bharat Sugar and Industries gained between 5 per cent and 8 per cent on an intraday basis.
Sterlite Technologies - The company has announced a partnership with ASOCS and VMware to roll out an end-to-end private 5G network solution for campuses, enterprises and venues. The private networks will be set up using STL's O-RAN 5G indoor and outdoor small cells, CYRUS, Open Distributed Unit and Centralised Unit from ASOCS and VMware's Edge Compute Stack. Sterlite Technologies ended the trading session at Rs 185.65, up 2.88 per cent on the BSE.
Adani Green - The share price of Adani Green Energy (AGEL) rose 6 per cent to Rs 1,995.95 on an intraday basis on Thursday, soaring 9 per cent in the last two trading days, post the company's announcement that its arm has received a Letter of Award (LOA) to set-up 150 MW solar power project. The company had participated in a tender issued by Punjab State Power Corporation for procurement of 250 MW solar power from ground-mounted grid-connected solar PV power plants.