Illustration: Binay Sinha
Stocks to Watch on Thursday, February 15, 2024: Mirroring weak cues from global peers the Indian benchmark equity indices are likely to start Wednesday’s trading session on a dismal note.
At 07:30 AM, Gift Nifty futures quoted around 21,999, indicating a likely gap-up of 70-odd points on the Nifty50 index.
In Asia this morning, Taiwan soared over 3 per cent. Japan’s Nikkei was up 0.7 per cent. Kospi and Straits Times added 0.3 per cent.
Overnight on the Wall Street, benchmark indices ended higher on the back of positive surprises on the corporate earnings front. Dow Jones gained 0.4 per cent. The S&P 500 jumped 1 per cent, and Nasdaq soared 1.3 per cent.
The US 10-year bond yield eased a bit to 4.235 per cent as against 4.267 per cent the day before. Brent Crude Oil continued to hover around $81 per barrel.
That apart, following sharp surge in crypto stocks like Coinbase, Marathon Digital and Riot bitcoin’s market value crossed $1 trillion for the first time since November 2021.
Meanwhile, these are the stocks that are likely to be in focus on Thursday.
NMDC: Posted a 62.6 per cent growth in Q3 consolidated net at Rs 1,470 crore on a year-on-year basis, backed by 45.4 per cent jump in revenue from operations to Rs 5,410 crore.
Glenmark Pharma: Reported a consolidated net loss of Rs 449.60 crore for Q3FY24 as against a net profit of Rs 185.80 crore in Q3Fy23. Revenue from operations declined 19.1 per cent YoY to Rs 2,506.70 crore.
Utkarsh Small Finance Bank: Post passing a resolution for a reverse merger between the holding company Utkarsh Core Invest (UCL) and the bank, the UCL board has suggested initiating steps towards the same.
Vedanta: The parent company of the Indian miner may sell about $1 billion worth shares in the company to GQG Partners via block deals, reports suggested.
Stocks in F&O ban today: Aditya Birla Fashion Retail, Ashok Leyland, Aurobindo Pharma, Balrampur Chini, Bandhan Bank, Biocon, Delta Corp, Hindustan Copper, India Cement, Indus Towers, National Aluminium, PNB, SAIL and Zee Entertainment are the 14 stocks in futures & options ban period on Wednesday.
First Published: Feb 15 2024 | 7:53 AM IST