The market may attempt to continue its upward journey amid rangebound trading in the upcoming sessions. Below are some short-term trading ideas to consider.
Stocks to Watch, 21 Apr: Stocks like Infosys, HDFC Bank, ICICI Bank, HDFC Life Insurance Company, Yes Bank, Jio Financial Services, Tata Elxsi, Just Dial, IndusInd Bank, Tata Consultancy Services, ABB India, and NIIT will be in focus on April 21.
The shares will be acquired from ICICI Bank Limited (1.9 million shares, 18.79 per cent stake) and individual shareholders (50,000 shares, 0.49 per cent stake).
The market is likely to trade with a negative bias amid ongoing consolidation. Below are some trading ideas for the near term.
The party in the midcap IT space is basking on expectations of strong growth prospects and reasonable valuations offered by this pocket in the market. Aside from these sectoral expectations, stock-specific triggers also led to the spike in several midcap IT names.
Oil and Natural Gas Corporation, Transport Corporation of India, Alembic Pharmaceuticals, Bharat Electronics, Trent, Uno Minda, IDFC, Lemon Tree Hotels, and Bharat Dynamics will also be in focus on August 26.
A company statement said the results include the impact of the demerger of NLSL from NIIT Limited from April 1, 2022.
About 2,113 shares advanced, 1,427 shares declined, and 126 shares were unchanged
The shares have been on a strong upswing after the company on September 10 announced that it has allotted 1,01,666 equity shares to its employees under ESOP