 "Stocks to Watch today: Voda Idea, SpiceJet, Jana SFB, Angel One, Bandhan Bk")
Stocks to Watch on Friday, February 23, 2024: After yesterday’s sharp recovery, benchmark indices are likely to extend gains Thursday morning on the back of upbeat cues from the US market.
At 07:30 AM, Gift Nifty futures quoted around 22,313, suggesting a likely gap-up of over 50-odd points on the Nifty 50 index.
The S&P BSE Sensex, which closed at 73,158 may attempt to strike a new summit today. The all-time high of BSE benchmark stands at 73,427.
Overnight, the US market ended with solid gains powered by AI-stocks driven rally led by Nvidia. The latter not only beat December quarter analysts expectations, but also forecasted for a more upbeat outlook for Q1.
Tech-laced index Nasdaq zoomed 3 per cent, the S&P 500 surged 2 per cent and Dow Jones gained 1 per cent.
However, the US 10-year bond yield edged higher to 4.331 per cent as a drop in US employment benefits signaled that job growth remained solid thus reducing any urgency for Fed to start cutting rates.
More From This Section
Brent Crude Oil futures continued to hover around $83 per barrel level.
That apart, Minutes of the latest RBI monetary policy committee meeting showed that officials decided not to drop their guard against inflation, basing themselves on the thinking that the last mile to achieve the target of 4 per cent rate could be the most challenging.
Meanwhile, these are the stocks that are likely to be in focus on Friday.
Vodafone Idea: Board to meet on February 27 to consider fundraising proposals.
SpiceJet: The Delhi High Court on Thursday asked the low-cost carrier to return the engine leased to Engine Lease Finance BV, in Belgium, at its own expense by March 10 after settlement talks between the parties failed.
Meanwhile, SpiceJet said it successfully raised a second tranche of Rs 316 crore under the preferential issue of equity and warrants.
Jana Small Finance Bank: Q3 net rose 12.8 per cent year-on-year (YoY) to Rs 134.64 crore when compared with Rs 119.34 crore in the year ago period. Net interest income was up 24.4 per cent YoY at Rs 548.5 crore.
Ashok Leyland: Said it achieved the production milestone with the rollout of its three millionth vehicle.
Olectra Greentech: The firm in association with Evey Trans has received a Letter of Award valued at Rs 4,000 crore from Mumbai-based Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for the supply, operation and maintenance of 2,400 electric buses.
Angel One: Plans to raise Rs 2,000 crore to tap opportunities in the fintech space. The brokerage intends to expand its offerings beyond equity and mutual funds.
Tata Elxsi: Announced a strategic partnership with Accuknox, to telecom operators roll out secure 5G networks with inline mitigation and makes the network future-ready for 6G.
Texmaco Rail: Board to meet on February 27 to consider a proposal for raising funds.
Gujarat Ambuja Exports: Fixed March 08 as the record date for the proposed 1:1 bonus issue.
Bandhan Bank: Appoints ex-Citi CEO with over 25 years of experience Rajeev Mantri as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective from February 22, 2024.
Stocks in F&O ban today: Aditya Birla Fashion Retail, Ashok Leyland, Balrampur Chini, Bandhan Bank, Biocon, GMR Infra, GNFC, Hindustan Copper, Indus Towers, National Aluminium, Piramal Enterprises, PVR Inox, RBL Bank, SAIL and Zee Entertainment are the 15 stocks in futures & options ban period on Friday.