Overnight Digest: Stocks to watch out for on July 28
Keep an eye on these stocks for Thursday's trading session
Witnessing a broad-based rally, domestic markets faded the morning losses and ended sharply higher on Wednesday. At the close, the Sensex was up 547.83 points or 0.99 per cent at the 55,816.32 level, and the Nifty was up 158.00 points or 0.96 per cent at the 16,641.80 level.
Sun Pharma, Divis Laboratories, L&T, Asian Paints, SBI, TCS, Ultratech Cement, and Grasim were in the lead rising over 2 per cent each. On the flip side, Bharti Airtel, Bajaj Auto, Kotak Bank, Reliance Industries, and HDFC Life were the only losers, slipping up to 1 per cent.
On the sectoral front, Nifty Pharma and PSB indices rose over 2 per cent each, whereas the Nifty IT index was up 1.7 per cent and the Nifty Bank index gained 1 per cent. The broader markets underperformed as BSE MidCap and SmallCap indices advanced only up to 0.90 per cent.
Keep an eye on these stocks for Thursday's trading session:
TCS - TCS announced a multi-year, multi-million-dollar deal with Marks & Spencer, to transform the British retailer’s human resource operations. The demand for IT services remains strong in Europe and the UK despite macro headwinds like inflation, rate tightening, political turmoil in the UK, and the ongoing Russian invasion of Ukraine. The shares of TCS were trading in green and ended the trading session 2.31 per cent higher.
Larsen & Toubro - The shares of L&T were seen soaring up to 4 per cent during Wednesday's trading session. The move comes after the EPC major reported a healthy set of numbers for the quarter ended Q1FY23. The company’s strong order book stood at Rs 3,63,448, crore which indicated optimistic revenue visibility for the future. L&T reported nearly 45 per cent growth in its consolidated net profit to Rs 1,702 crore for Q1FY23 from Rs 1,174 crore in the corresponding quarter.
Hero MotoCorp -Accenture has been selected by Hero MotoCorp to scale up and enhance its future-ready supply chain. The program will include supply chain strategy, planning optimisation, logistics cost optimisation, and development of an end-to-end digital supply chain suite thereby, enabling Hero MotoCorp to manage the increasing complexity in products, markets & supply chain networks while driving cost reduction in an inflationary environment.
Shoppers Stop - The shares of Shoppers Stop made a fresh 52-week high of Rs 603.70 and jumped 11 per cent on reporting strong Quarterly Results for Q1FY23. The company reported a profit after tax (PAT) of Rs 23 crore in the June quarter, driven by a healthy operational performance against a loss of Rs 118 crore in Q1FY22. In Q1FY23, the company's sales jumped nearly five-fold to Rs 942 crore as against Rs 201 crore in Q1FY22. Keep a watch on this stock for the upcoming trading sessions.