Benchmark equity indices settled in green for the sixth consecutive session on Tuesday after buying in banking and FMCG shares. The BSE Sensex spurted by 349.24 points or 0.48 per cent to close at 73,057.40 in a volatile trade. The broader NSE Nifty50 rose 74.70 points or 0.34 per cent to close at a new record level of 22,196.95. Sector-wise it was a mixed bag as realty, financial services and media rallied the most, while Auto and IT remained subdued.
"Amidst market volatility, the domestic market is once again poised to approach record highs. The latest upward trajectory is bolstered by gains in the banking sector, with private banks witnessing a rebound from a recent sharp correction. However, the decline in mid & small caps suggests that investors are continuing to exercise caution due to higher valuations. The forthcoming release of the US Fed minutes this week holds significance, particularly in light of recent sticky inflation data, which raises uncertainty regarding the timing of the Federal Reserve's initiation of its easing cycle," said Vinod Nair, Head of Research at Geojit Financial Services.
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Here Are The Key Stocks To Watch On 21 February:
DLF
DLF Home Developers Limited (DHDL), a subsidiary of the company, entered into a settlement agreement with Axis Trustee Services Limited for the acquisition of land parcels measuring 28.49 acres for around Rs 1,241 crore in Gurugram, Haryana.
Hindalco
Novelis Inc, a wholly-owned American subsidiary of Hindalco Industries, has confidentially filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC). The common shares are likely to be offered by Novelis’ sole shareholder.
TCS
The country's largest IT services company’s CEO K Krithivasan on Tuesday said he remain cautiously optimistic for the medium-to-long term and that the next year will be better than current one. He affirmed that the company does not plan on reducing hiring, though there may be changes in the process.
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ABB India
The electrification and automation company reported a 10.9 per cent year-on-year increase in net profit at Rs 338.7 crore for the fourth quarter that ended on 31 December, 2023. The company has posted a net profit of Rs 305.3 crore in the year-ago period. Revenue from operations increased 13.6 per cent to Rs 2,757.5 crore compared to Rs 2,427 crore in the corresponding period of the preceding financial year.
Union Bank of India
The public sector lender has received approval from the Committee of Directors for Raising Capital Funds to raise up to Rs 3,000 crore through a qualified institutional placement (QIPs). The floor price for the issue is fixed at Rs 142.78 per equity share.
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