Produced by: Prashun Talukdar Designed by: Manoj Kumar
"Due to lack of fresh positive triggers, investors are trading cautiously and taking selective bets. Technically, Nifty needs to reclaim the 19,889 mark for fresh upside, while the support is placed at 19,471," said Prashanth Tapse, Senior VP (Research), Mehta Equities.
On the stock-specific front, Welspun Corp, P&G Health, Mamaearth, Tata Steel, Axis Bank and some other counters will be in focus today.
Shares of Welspun Corp slipped 2.07% to close at Rs 538.40 in the previous trading session. The company said its wholly-owned subsidiary, Sintex BAPL, has got Odisha government's nod to invest Rs 479.47 crore for establishing a manufacturing unit in the state.
Shares of Procter & Gamble Health rose 0.22% to close at Rs 5173.85. The stock will trade ex-dividend today. The company has announced a final dividend of Rs 50 for the financial year 2023-24 (FY24).
Premco Global shares settled 1.26% lower at Rs 423.30. The scrip will also trade ex-dividend today. The company has announced an interim dividend of Rs 3.
Shares of Amrutanjan Health Care settled with 1.08% losses at Rs 602.65. The stock will turn ex-dividend too. And, the dividend amount is Re 1.
Shares of Shaily Engineering gained 1.51% to close at Rs 1,880.20. The counter will go ex-split from Rs 10 to Rs 2 today.
Shares of Honasa Consumer, Mamaearth's parent, dived 4.05% to settle at Rs 352.10. The company reported 93% surge in consolidated net profit at Rs 29 crore for the quarter ended September 30, 2023, as against Rs 15 crore in the year-ago period.
Shares of Tata Steel shed 0.12% to close at Rs 126.10. The steelmaker has approved the allotment of 7.58 crore shares of the company to eligible shareholders of its long products unit that is merging with the parent. 67 fully paid-up equity shares of Tata Steel of face value Re 1 each will be allotted for every 10 shares of Tata Steel Long Products of face value Rs 10 each, based on the scheme of amalgamation approved by the National Company Law Tribunal, the filing said.
Shares of TVS Motor Company rose 0.80% to close at Rs 1,738.25. The automaker has announced its entry into Vietnam in collaboration with Minh Long Motors.
Shares of Central Depository Services (India) fell 0.41% to settle at Rs 1,717.95. CDSL said it became first Indian depository to register 10 crore Demat accounts.
Shares of Axis Bank moved 0.66% up to close at Rs 998.20. The private lender said credit rating agency ICRA Ltd has assigned '[ICRA] AAA (Stable)' fresh ratings to Infrastructure Bonds of the bank amounting to Rs 5,000 crore and has withdrawn rating to Infrastructure Bonds amounting to Rs 5,000 crore on account of its maturity.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.