Overnight Digest: Stocks to keep an eye on May 08!
Watch out for these large-cap stocks in Monday’s trading session!
Indian benchmark indices have fallen sharply, primarily due to the substantial losses suffered by financial services, banking and metal sectors. The BSE Sensex plunged 1.13 per cent to 61,054 level at the close. The Nifty 50 index tumbled 1.02 per cent to a level of 18,069.
Watch out for these Large-Cap stocks in Monday’s trading session -
HDFC Bank - Being the worst performers on the BSE Sensex, shares of HDFC Bank and HDFC Ltd slumped more than 5 per cent following MSCI's announcement that the weight of the merged entity of HDFC Bank and HDFC Ltd would be calculated using an adjustment factor of 0.50.
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Titan Company Ltd - Shares experienced a strong rally and ended the session 2.44 per cent higher, making them the top Sensex gainer. As a result of robust demand for the festive season, the company reported better than expected Quarterly Results. It reported an outstanding growth of more than 50 per cent in its net profit.
Ambuja Cements - Despite reporting a lacklustre quarter performance, shares of the company climbed 3.10 per cent to lead gains in BSE's largecap index. For the quarter ended March 2023, the cement manufacturer reported a marginal growth in its net profit. The board has recommended a dividend of Rs 2.50 per equity share of face value of Rs 2 each.