Investors are likely eyeing fair valuations for the stocks of the PSU trading firms that fell substantially from their 52-week highs
Stocks to watch, 30 Apr: Stocks like Bajaj Finserv, Bharat Petroleum Corporation, Jana Small Finance Bank, UTI Asset Management Company, Star Health, Ceat, Shoppers Stop, CIE Automotive India, Praj Industries, Indostar Capital Finance, Fedbank Financial Services, and State Bank of India will be in focus on April 30.
Stocks To Watch, Dec 24: Stocks like Whirlpool of India, MMTC, TVS Motor Company, TVS Holdings, Kirloskar Brothers, SPML Infra, Allcargo Gati, Symphony, Nava, and Indian Bank will also be in focus on December 24.
The market is likely to remain in positive territory amid consolidation in the coming sessions. Here are some trading ideas for the near term.
One can add longs in HDFC Bank in the zone of Rs 1,400-1,425 for upside target of Rs 1,500 and stop-loss would be placed near Rs 1,368 on daily close basis.
The ministry cited lack of investor interest as the reason for closing the company.
There has been little interest from potential investors for its OFS, and the alternative mechanism may be asked to approve its closure instead.
Union Commerce Minister Piyush Goyal is slated to lead a high-level meeting on October 23 to explore the closure of MMTC, STC and PEC government-owned firms
The move comes after the three state-run entities were denotified last year as canalising agencies.
In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Anupriya Patel said the state-run trading firm has registered a profit of Rs 1,076.07 crore in 2022-23 against a loss of Rs 241.93 crore in 2021-22.
Meanwhile, shares of MMTC closed 0.69 percent lower at Rs 37.59 apiece on BSE on August 7. The scrip is down 2.36 percent on a year-to-date (YTD) basis