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Friday, Aug 19, 2022
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Stocks In Focus Today: Yes Bank, Hero MotoCorp, Parag Milk Foods, And More

IndusInd Bank stole the show in the Sensex pack, surging more than 7 per cent on Monday, followed by Bharti Airtel, HCL Tech, Tata Steel, Tech Mahindra and SBI.

Stocks In Focus Today: Yes Bank, Hero MotoCorp, Parag Milk Foods, And More
Stocks In Focus Today: Yes Bank, Hero MotoCorp, Parag Milk Foods, And More
outlookindia.com
2021-11-02T08:52:57+05:30

Indian Benchmark indexes closed more than 1 per cent higher on Monday after three straight sessions of losses. Sensex reclaimed the 60,000 level by rallying 831 points or 1.4 per cent to close at 60,138 on Monday.

Similarly, the NSE Nifty rose 258 points or 1.4 per cent to 17,929.6. IndusInd Bank stole the show in the Sensex pack, surging more than 7 per cent, followed by Bharti Airtel, HCL Tech, Tata Steel, Tech Mahindra, Dr Reddy’s and SBI.

Here are some stocks that investors should watch out for today, as per Moneycontrol.

Yes Bank: The bank completed the transaction for the sale of a stake in YES Asset Management and YES Trustee to GPL Finance & Investments.

Hero MotoCorp: The company sold 5.48 lakh units in October 2021 against 8.07 lakh units sold in October 2020.

Parag Milk Foods: The company reported a sharply higher consolidated profit at Rs 22.7 crore in Q2FY22 against Rs 15.9 crore in Q2FY21, revenue rose to Rs 532.3 crore from Rs 498.2 crore YoY.

MOIL: The government announced wage revision for the company's workers. It will be making the arrear payment in one go which will have a financial impact of Rs 218 crore.

Muthoot Finance: The Reserve bank of India (RBI) canceled the company's White Label ATMs business license.

Burger King India: The company to acquire 83.24 percent stake in PT Sari Burger Indonesia which has 177 restaurants.

Eicher Motors: Royal Enfield sales fell 44,133 units in October 2021, against 66,891 units in October 2020.

ABB India: Life Insurance Corporation of India sold 2.04 per cent stake in the company via open market transaction, reducing shareholding to 3.51 per cent from 5.55 percent earlier.

PI Industries: Since Ind Swift Laboratories has not been able to complete several pre-agreed conditions precedents, the Business Transfer Agreement with Ind Swift stands terminated.

Meanwhile, commenting about the market, Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said Monday's sharp upside bounce could be an indication of the strong comeback of bulls from the lows. But, having formed a negative chart pattern recently, we expect this pullback to halt around 18100-18200 levels before showing another round of weakness from the highs., reported Mint.

He said if the hurdle of 18200 gets broken decisively on the upside, then the present negative chart pattern could be nullified and the market could continue with further upside.

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