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Stocks to Watch on Thursday, November 23, 2023: The market is likely to start Thursday’s trade on a cautious note, amid mixed cues from the Asian peers. Further, the Nifty weekly expiry may add to the market volatility.
At 07:30 AM, Gift Nifty futures quoted at 19,886 as against the NSE Nifty50 close of 19,812 on Wednesday.
Overnight, the US market ended higher on hopes that Fed may be done with rate hikes after data suggested that the economy is easing but may stay strong enough to avoid recession.
Near home, Nikkei, Kospi and Taiwan gained 0.1 – 0.3 per cent, while Hang Seng and Shanghai indices slipped up to 0.7 per cent.
Meanwhile, here are the stocks that are likely to be in focus on Thursday.
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Honasa Consumer: The Mamaearth parent firm reported a in net profit to Rs 29.40 crore for Q2FY24 as against a net loss of Rs 15 crore in the year ago period. Consolidated revenue grew 21 per cent YoY to Rs 496.10 crore. READ MORE
InterGloble Aviation: The parent of IndiGo plans to challenge tax demands worth over Rs 1,666 crore. In a regulatory filing, the company said a demand of "Rs 7,39.68 crore (AY 2016-17) and Rs 9,27.03 crore (AY 2017-18) was raised by the Assessing officer, against which the company had preferred appeal before CIT-Appeal". READ MORE
Liberty Shoes: Ousts its Executive Director Adesh Kumar Gupta from the board after the National Company Law Tribunal (NCLT) dismissed his petition seeking exemption on requirements to file a plea.
Infosys: Inks a strategic long-term collaboration with TK Elevator to help in its digital transformation with an artificial intelligence (AI)-first strategy. The financial details of the engagement were not disclosed.
State Bank of India (SBI): Plans to increase interest rates on unsecured loans - personal loans - following RBI’s move to mandate higher risk weighting for those segments. The increase in risk weighting for unsecured loans will have an impact of 2-3 basis points on SBI’s net interest margin (NIM), chairman Dinesh Khara said on Wednesday.
Stocks in F&O ban today: BHEL, Hind Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, MCX, NMDC, RBL Bank and Zee Entertainment are in futures & options ban period on Thursday.
