Overnight Digest: Stocks to keep an eye on July 19

Watch out for theses stocks on Tuesday's trading session

It was a happy Monday on the bourses as markets all over the world were trading in positive territory despite volatility and rising inflation. Sensex surged 1.41 per cent to end at 54,521.15 whereas Nifty 50 clocked in 229.30 points or 1.43 per cent to close at the 16,278.50 level.    

The major gainers on the bourses were IndusInd Bank, Infosys, Tech Mahindra, Bajaj Finserv, Axis Bank, Kotak Mahindra Bank, and Hindalco Industries. Sector-wise, IT outperformed the others, followed by metal, PSU, and private banks as the Q1FY23 results season commences.  

Watch out for these stocks on Tuesday-  

Quick Heal Technologies: After announcing that its board would meet on Thursday (July 21) to discuss a proposal for the buyback of the company's fully paid-up equity shares, Quick Heal Technologies surged 17.38 per cent to Rs 195.90 on BSE. The company's standalone and consolidated unaudited financial statements for the three months ended June 30, 2022, will also be discussed & approved by the board on the same day. The shares of Quick Heal ended higher by 19.98 per cent on BSE today.  

Tata Steel: Chief Executive Officer TV Narendran stated in an interview that Tata Steel plans to spend Rs 12,000 crore on capital expenditure (Capex) for its operations in Europe and India this fiscal year. The domestic steel industry giant intends to spend Rs 8,500 crore in India and Rs 3,500 crore on business endeavours in Europe. In India, the growth of Kalinganagar project & mining activities will be the main priorities while in Europe, the emphasis will be on sustainability, product mix enrichment, and environment-related capital expenditures. The scrip ended higher by 2.34 per cent at the time of market close on BSE.   

HDFC Bank: The bank on Saturday reported a nearly 21 per cent jump in its April-June quarter. Its net profit stood at Rs 9,579.11 crore on the back of solid loan growth and a rise in low-cost deposits. On a standalone basis, HDFC Bank's net profit increased to Rs 9,195.99 crore from Rs 7,729.64 crore in the year-ago period but was down from Rs 10,055.18 crore in the preceding January-March quarter. The bank registered a 21.5 per cent rise in loans to Rs 13,95,000 crore in the first quarter of this fiscal. The credit book was Rs 11,47,700 crore as of June 30 last year. The shares of the private lender ended lower by 0.53 per cent on BSE.  

Vedanta: The mining major plans to bring into operation two coal blocks in Odisha at Jamkhani & Radhikapur in this fiscal year and is working out a plan to fast-track the operationalisation of another coal mine in the eastern state. The shares of Vedanta closed 4.17 per cent higher at Rs 237.40 on BSE today.