Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others
- At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50.
- Here's a list of stocks to watch for in trade today.
- Check out the latest news and updates on Business Insider.
AdvertisementIndian stock-market indices are likely to start lower on Wednesday, led by mixed cues from the global markets.
At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50. However, the US stocks ended higher on Tuesday, as investors took advantage of the previous session's slump to buy back, ahead of the outcome of the Senate elections in the state of Georgia. The Dow Jones Industrial Average closed 167 points higher, and the S&P 500 was up 0.71%.
These are the stocks to watch out for during the trading session today:
The country's largest private sector lender HDFC Bank logged in a loan growth of 19% to ₹10,82,000 crore during the third quarter ended December 2020. Meanwhile, the bank's CASA (current account savings account) ratio rose to around 43%, compared to 39.5% in December 2019.
BEML has bagged orders worth ₹758 crore for supply of high mobility vehicles from the Ministry of Defence.
The government-owned Life Insurance Corporation (LIC) has increased its stake in Hero MotoCorp to 9.16% from 7.14% earlier.
The Reserve Bank has imposed a penalty of ₹2.5 crore on Bajaj Finance, Pune for breaching regulatory compliance norms. RBI also stated that there were complaints about recovery and collection practices.
AdvertisementIndia’s aviation regulator has given the green light for IndiGo to operate its Pratt & Whitney powered Airbus A320/A321 neo fleet on longer overseas routes or as extended diversion time (EDTO) flights. EDTO allows a multi-engine aircraft to divert to a nearby airport in case of an emergency situation and is mainly applicable for international flights.
Godrej Consumer Products
FMCG player Godrej Consumer Products said it expects to deliver "close to low double-digit sales growth" in the domestic market during the October-December 2020 quarter, led by soaps and household insecticides segments. The company has also witnessed a "sharp recovery" in its hair colour segment, which is expected to deliver mid-teen growth.
The cement manufacturer ACC has started operations at its new grinding unit in Dhanbad district of Jharkhand. This will result in an additional capacity of 1.4 million tonnes per annum to the existing 3 million tonnes units — taking the total capacity at Sindri to 4.4 million tonnes per annum.
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