Overnight Digest: Stocks to keep an eye on June 7
Tata Steel, IndusInd Bank and Mahindra & Mahindra were the top gainers while Shree Cements, Asian Paints and BPCL were the top losers.
On Monday, making a gap down opening and recovering in the afternoon session, the benchmark indices were not able to sustain the gains due to global cues. Sensex ended 93.91 points or 0.17 per cent lower at 55,675.32, and the Nifty shed 18.50 points or 0.11 per cent at 16,565.80. Tata Steel, IndusInd Bank and Mahindra & Mahindra were the Top Gainers while Shree Cements, Asian Paints and BPCL were the Top Losers.
Among the sectors, the indices ended with mixed performance where oil & gas and metals indices rose the most while realty, capital goods and consumer durables indices fell the most. In the broader markets midcap and smallcap indices also ended lower.
Watch out for these stocks for Tuesday's trading session -
Oil India Limited - During the early trade on Monday, oil prices rose more than $2. In an otherwise dim market, the shares of Oil India zoomed more than 12 per cent as prices of Brent crude oil moved higher on hiking of prices by Saudi Arabia for its crude sales in July. The stock of Oil India was seen trading near its 52-week high level of Rs 267.70 per share made on October 1, 2021. In the past one week, it has outperformed the market by advancing 17 per cent in comparison to a 0.61 per cent decline on BSE Sensex.
Anupam Rasayan India - The shares of Anupam Rasayan hit a 52-week low of Rs 619.3 on Monday, tumbling 9 per cent. Over the last one month, the stock has declined 25 per cent as compared to a 1.3 per cent rise in BSE Sensex. In March 2022, Anupam Rasayan acquired 24.96 per cent of the total equity shareholding of and joint control of Tanfac Industries Ltd (TIL) from Birla Group Holdings. Meanwhile, in Q4FY22, Anupam Rasayan's EBITDA margins expanded 700 bps to 31 per cent from 24 per cent in Q4FY21. The shares of Anupam Rasayan ended the trading session lower by 4.78 per cent.
TVS Motor Company - TVS Motor Company is in advanced talks to raise Rs 4,000-5,000 crore from private equity firms to fund the expansion of the group’s new electric mobility arm. The two-wheeler firm aims to build a ‘sustained dominant play’ in the electric vehicle (EV) segment by leveraging various government initiatives such as the production-linked incentive (PLI) scheme, etc. TVS Motors seeks to increase its share of revenues from its EV business, capitalising on the increasing demand for EVs globally. The share of TVS Motor ended Monday's trading session lower by 0.45 per cent.
Tata Power Company - Tata Power has partnered with Kolte-Patil Developers (KPDL), a leading Pune-based real estate developer, with a growing presence in Mumbai and Bengaluru, to set up charging stations across its projects in the cities of Pune, Mumbai & Bengaluru for providing comprehensive charging solutions to the EV owners. With its expertise and proven track record, Tata Power will offer best-in-class EV charging to residential customers of Kolte-Patil Developers, additionally easing their e-mobility journey, and providing a uniform and ubiquitous EV charging experience. Post the announcement, the share of Tata Power entered the green territory and ended 0.45 per cent up on Monday.