The Indian stock market crashed on Friday due to the fresh scare about the new Covid variant identified in South Africa. NSE Nifty nosedived almost 3 per cent on Friday whereas weekly, the 50-stock index fell a massive 4.16 per cent, the highest since Jan 2021.
The Indian indices are likely to open lower amid weak global cues.
The Nifty futures were trading higher around 17,085 level on the Singaporean Exchange at 7:30 IST. Asian markets are trading lower, while US markets ended on a weak note.
According to stock market experts, this pattern indicates a sharp downside breakout in the market after a minor upside bounce. This also reflects the chances of more weakness in the stock market this week.
Here are stocks that investors should watch today:
State Bank of India: Reserve Bank of India has imposed a penalty of Rs 1 crore on the bank for contravention of the provision.
Coal India: The dispatch of coal to the power sector by state-owned miner rose 22.7 per cent to 291.72 million tonne (MT) in the first seven months of the ongoing fiscal year. Coal India Ltd (CIL) had dispatched 237.75 MT of coal to the power sector in April-October period of 2020-21.
Hero MotoCorp: The company has appointed Rajnish Kumar as an Additional and Independent Director, and Vasudha Dinodia as an Additional and Non-Executive Director.
ITC: The FMCG conglomerate said it will acquire a 16 per cent stake in Mother Sparsh, a D2C Ayurvedic and natural personal care brand, for Rs 20 crore through a share subscription agreement.
Sterlite Technologies: The company has completed the divestment of a minority stake in Metis Eduventures.
Tata Steel: The domestic steel giant will focus on augmenting iron ore production from 30 million tonne per annum to 45 mtpa in the next five years.
Aro Granite Industries: Lodha Chanchal Devi bought additional 1 lakh shares in the company at Rs 78.45 per share on the NSE, the bulk deals data showed.
IndusInd Bank: The Hindujas, who had earlier applied to RBI seeking to increase their holding in the lender, welcomed the RBI move to allow promoter holding of up to 26 per cent in private sector lenders.
Welspun Corp: Capri Global Holdings bought 15 lakh equity shares in the company at Rs 167.45 per share on the NSE, the bulk deals data showed.
Colgate-Palmolive: The FMCG player has introduced a sustainable innovation to the oral care industry with launching of 100 per cent recycled plastic handle toothbrushes. The company had recently unveiled the country's first recyclable toothpaste tubes.
Sharika Enterprises: The company has received an order from LS Cable India for the supply of optical ground wire amounting to Rs 10.47 crore.
GHCL: The leading chemical and textile company would invest Rs 500 crore in Tamil Nadu and a memorandum of understanding was signed with the government to this effect.
Salasar Techno Engineering: The company has secured orders worth Rs 170 crore from RITES.
Bhageria Industries: The company has completed the acquisition of 51 per cent equity shares of Bhageria and Jajodia Pharmaceuticals.