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Stocks to Watch today: BSE, Honasa, Newgen, Eicher, Cello World, Siemens

Stocks to watch on Tuesday, November 28, 2023: Honasa, Siemens and Newgen Software in focus today as exchanges lower circuit limit, results announcement and a liberal 1:1 bonus share issue.

Markets, Stock market, sensex, stock market indices

Illustration: Ajay Mohanty

Rex Cano Mumbai

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Stocks to Watch on Tuesday, November 28, 2023: Equity markets are likely to resume trading on Tuesday after an extended holiday-break on a cautious note, amid subdued cues from global peers. 

At 07:10 AM, Gift Nifty futures quoted at 19,857 as against the NSE Nifty50 close of 19,795 on Friday.

Overnight, the US market ended modestly in red as the bulls took a breather post strong rally in the preceding week. This week the focus will be on Fed chair speech and inflation data.

Near home, Nikkei and Straits Times were down up to 0.3 per cent; whereas, Kospi and Taiwan added 0.4 per cent each.

In other news, S&P Global Ratings has raised India’s gross domestic product (GDP) growth forecast for the current financial year (FY24) by 0.4 percentage points to 6.4 per cent saying that robust domestic momentum seems to have offset headwinds from high food inflation and weak exports. The ratings agency, however, has lowered FY25 outlook for growth to 6.4 per cent from 6.9 per cent.

Meanwhile, here are the stocks that are likely to be in focus on Tuesday. 

BSE: Global brokerage firm Jefferies has initiated coverage on BSE with a ‘Buy’ rating and a price target of Rs 2,700, anticipating a 24 per cent upside from the current levels.Shares of the BSE have jumped 4 times in the past six months.

Siemens: To report September quarter results today.

Eicher Motors: Has launched a new Himalayan bike at an introductory price of Rs 2.69 lakh onwards. Further, Royal Enfield Shotgun 650 will be available at an ex-showroom price of Rs 4.25 lakh.

Newgen Software: The company’s board has approved the issue of bonus shares in the ratio of 1:1.

Honasa Consumer: Following the sharp movement in the share price, the exchanges have lowered the daily circuit limit for the stock from 20 per cent to 10 per cent.

Cello World: The recently listed company reported a net profit of Rs 17.70 crore for the quarter ended September 2023 as against a net profit of Rs 11.02 crore in the preceding June quarter. Total income was up 1.7 per cent QoQ at Rs 251.38 crore.

Satin Creditcare Network: Board to meet on November 30 to consider and approve fund raising proposal by way of issuance of shares or debentures on private placement basis.

Life Insurance Corporation (LIC): As part of its digital transformation exercise, the insurance behemoth is exploring the possibility of setting up a fintech unit, said chairman Siddhartha Mohanty. READ MORE

Realty: The luxury housing segment sales in India have surged up to 97 per cent in the last nine months as more people opt for larger spaces with mod-cons, including dedicated rooms for working from home. 

Fortis Malar Hospitals: To sell Malar Hospital at Gandhi Nagar in Chennai for Rs 45.50 crore to MGM Healthcare.

Adani Group: The Supreme Court on Friday reserved its order in the Adani-Hindenburg case and indicated it might pass some more directions to the Sebi. Meanwhile, the latter told the court it would not seek an extension to complete its investigation of the matter. READ MORE 

IndiGo: Noida International Airport has signed a Memorandum of Understanding (MoU) with IndiGo which has agreed to become the launch carrier for the airport, which is scheduled to be operational by the end of 2024.

Stocks in F&O ban today: Balrampur Chini, BHEL, Granules India, , Hindustan Copper, HPCL, Indiabulls Housing Finance and Zee Entertainment are in futures & options ban period on Tuesday. 

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First Published: Nov 28 2023 | 7:34 AM IST

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