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Stocks to Watch on Friday, December 01, 2023: After having logged the biggest monthly gain in the calendar year 2023 so far, benchmark indices are likely to start December on a positive note backed by better-than-expected Q2 GDP numbers.
India’s Gross Domestic Product (GDP) grew at 7.6 per cent in the September quarter much ahead of RBI’s projection of 6.5 per cent.
At 07:20 AM, Gift Nifty futures quoted at 20,330, suggesting a gap-up of 50-odd points on the Nifty50.
Overnight, the US market ended mixed, with Dow Jones up 1.5 per cent, and Nasdaq in red, albeit off the day’s low owing to stock specific actions. Tonight, the focus will be on manufacturing and construction data along with the US Fed chair Jerome Powell speech.
Nearer home, among the markets in Asia – Kospi had slipped nearly a per cent. Nikkei and Taiwan too were marginally in red.
Meanwhile, here are the stocks that are likely to be in focus on Friday.
Flair Writing Industries: The stock will make its debut on the bourses today, and grey market premium suggests a listing gain of up to 25 per cent. The company’s IPO received strong response and was subscribed 49.3 times.
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UltraTech Cement, Kesoram Industries: UltraTech has entered into an agreement with Kesoram to acquire its cement business in an all-stock deal. READ MORE
JSW group: The Sajjan Jindal-led group has marked its foray into the automobile sector by signing a strategic joint venture with SAIC Motor of China. JSW will hold a 35 per cent stake in the joint venture. READ MORE
Defence stocks: According to reports the government has approved defence acquisition projects worth Rs 2.23 trillion.
Whirlpool: The American parent company plans to sell up to 24 per cent stake in its Indian arm, Whirlpool of India, next year to raise funds to reduce debt.
Honasa Consumer: Has reportedly distributed excess stock of its products through its offline supply chain ahead of its IPO. This move has resulted in distributors in Maharashtra and Goa holding goods of around 90 days’ of inventory.
Also Read: Despite secondary market volatility, IPO charm is here to stay: Analysts
Also Read: Despite secondary market volatility, IPO charm is here to stay: Analysts
Tata Coffee: Board has approved capacity expansion of its Vietnam-based wholly-owned subsidiary firm at an investment of Rs 450 crore.
PVR Inox: Plans to open 150 new screens in the next fiscal with an investment of about Rs 500 crore, a top company official said. The firm presently runs 118 screens across 23 properties.
H G Infra Engineering: The company's arm has bagged Rs 1,303.11 crore order from the National Highways Authority of India for construction of the Greenfield Varanasi-Ranchi-Kolkata highway.
ITD Cementation: Won Rs 1,001 crore contract for civil and hydro-mechanical work in Andhra Pradesh.
