Markets

Stocks To Watch: JSW Energy, Shree Cement, HCL Technologies And Others In News

Here are the stocks to watch during the trading session on Wednesday

Sensex
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Sensex and Nifty closed in red on Tuesday after a day of volatile trading activity. Sensex ended the day at 73,903 after recording a 110 point fall while Nifty closed at 22,453, a decline of 8 points as compared to the previous close.

Market experts are anticipating some consolidation in the days ahead as investors keenly watch updates from the US economy. Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, said, "Global markets are expected to remain volatile ahead of key economic data scheduled to be released within two days. Further, US Fed Chair Powell's speech is also due on Wednesday which will be keenly looked upon."

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RBI's Monetary Policy Committee (MPC) meeting is also set to start from today. The meet will conclude on April 5 following which Governor Shaktikanta Das will deliver the statement on policy. Investors are keenly awaiting any sign of possible rate cuts by the central bank.

Ahead of the trading session today, here are the stocks to watch:

1) JSW Energy: The company informed that its board has approved a fundraise of Rs 5,000 crore via QIP. The floor price of shares has been set at Rs 510.09. Its shares jumped 4.54 per cent to close at Rs 542 on Tuesday.

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2) Shree Cement: The company commissioned its Rs 2,500 crore plant in Guntur, Andhra Pradesh on Tuesday. The total capacity of the company has now increased to 56.4 million tonne per annum. Its shares closed 0.26 per cent higher at Rs 26,528 on Tuesday

3) HCL Technologies: The company completed divestment in joint venture with US-based State Street. It offloaded 49 per cent stake in the JV. Its shares closed at Rs 1,531.95 after declining 1.59 per cent on Tuesday.

4) Hindustan Zinc: The company's mined metal output declined one per cent year on year to reach 2.99 lakh tonne in Q4 FY24. However, silver output posed a 4 per cent year on year rise to reach 6.1 million ounces. Its shares closed at Rs 315.20 after gaining 2.96 per cent on Tuesday.

5) Mahindra and Mahindra Finance: The company's disbursements recorded a 11 per cent year on year growth to reach Rs 15,300 crore in Q4 FY24. Its share gained 3.5 per cent on Tuesday to close at Rs 297.

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