Investors may approach the market cautiously after the two-day rally and given the uncertainty around the Omicron threat ahead of the weekend. As of 08:00 AM, the SGX December Nifty futures were quoted at 17,378, down 68 points. Meanwhile, here the top stocks to focus in trade today.
GSK Pharma: Laboratory analysis of the antibody-based Covid-19 therapy GlaxoSmithKline (GSK) is developing with US partner Vir has indicated the drug is effective against the new Omicron variant, the British drugmaker said on Thursday.
HCL Technologies: The stock has been the worst performer among Tier-1 IT companies over the past two months, declining about 13 per cent from its September high on weak second quarter (Q2) results and guidance cut for the products and platforms segment.
However, the stock has recovered since hitting its low last week (up 7 per cent) after brokerages upgraded it on the back of improved outlook in the services business and attractive valuations. Here’s what working in favour of the stock now. READ ANALYSIS
Auto stocks: Amid persistent increase in prices of metals, plastic, and other input costs, carmakers are looking to hike prices from January. Leading the pack, car market leader Maruti Suzuki India (MSIL) on Thursday said it would revise prices of its models upwards from next month to offset increase in cost. READ MORE
Bank stocks: Buoyed by the festival season euphoria, credit card spends for the first time crossed Rs 1 trillion in a month in October, RBI data shows. Spends in October registered a growth of over 25 per cent month-on-month, despite a high base of last month. On a year–on–year basis, credit card spends jumped 56 per cent. READ MORE
FMCG shares: Fast-moving consumer goods (FMCG) sales growth were down 14.4 per cent in November compared to October largely due to a drop in the number of active kirana outlets as well as stock liquidation post Diwali, according to data by retail intelligence platform, Bizom. However, on a year-on-year basis, sales of consumer goods was up 10.4 per cent. READ MORE
Reliance Infrastructure: In a relief to the Anil Ambani-led firm, the Supreme Court has dismissed a plea filed by Delhi Metro Rail Corporation (DMRC) seeking review of its judgement which upheld the 2017 arbitration award of around Rs 4,600 crore in favour of Reliance Infrastructure subsidiary, Delhi Airport Metro Express Pvt Ltd (DAMEPL), enforceable against it.
Reliance Capital: After superseding the board, RBI has now moved to National Company Law Tribunal (NCLT) for the insolvency and bankruptcy proceeding of Reliance Capital. In a statement on its website, the RBI said there would be an interim moratorium on and from the filing of the application till its admission or rejection by the NCLT.
Jet Airways: The airline is reportedly said to be in talks with plane-makers Boeing Co and Airbus SE for an order worth $12 billion.
Canara Bank: The state-owned has successfully raised Rs 1,500 crore by issuing Basel-III compliant bonds. “The bank received total bid amount of Rs 4,699 crore, out of which full issuance of Rs 1,500 crore was accepted at 8.05 per cent,” Canara Bank said in a regulatory filing.
Stocks in F&O ban: Indiabulls Housing Finance and Vodafone Idea are the only stocks in F&O ban today.