Stocks in Focus: Today the focus will be on these stocks including HDFC Bank, HCL and Maruti.
Market Outlook: The first trading day of this week today (January 17) is showing volatility in the domestic market. Volatility remains in the market. On Friday, the last trading day of last week, the market lost four days of gains and closed almost flat. After a fall in the initial trade, the market had recovered in intra-day but then closed with a fall due to slippage. According to Siddharth Khemka, Head – Retail Research, Motilal Oswal Financial Services, Nifty 50 has recovered more than 10 per cent in just 20 days from the recent low of 16400. However, according to Khemka, valuations are no longer cheap and for the market to remain bullish, it is important for companies to produce better results. Talking about individual stocks, today the focus will be on HDFC Bank, HCL, Maruti, SBI, Sun Pharma, Lupine and Oil India. On the other hand, you can bet on DLF, Eicher Motors and Indian Energy Exchange in intra-day.
Today the focus will be on these stocks
- HDFC Bank: In the private sector, the country’s largest bank HDFC Bank’s standalone net profit increased by 18.1 percent in the last quarter October-December 2021. In the December 2021 quarter, the bank’s standalone net profit stood at Rs 10342 crore, up 18.1 percent. In the third quarter of the last financial year, this figure of profit was Rs 8,758.29. However, on a year-on-year basis, the bank’s net NPAs or bad loans increased in the December quarter. According to HDFC Bank’s December quarter financial results, there was an increase in the bank’s band loans and gross NPAs (non-performing assets).
- HCL Technologies: Profit of IT giant HCA grew 5.4 per cent on a quarterly basis to Rs 3442 crore and revenue rose 8.1 per cent to Rs 22331 crore in the December 2021 quarter. Comparing this with HCL’s nearest rival Wipro, Wipro’s dollar revenue grew 3 per cent in constant currency in the December quarter.
- Maruti Suzuki: In the first nine months of the current financial year 2021-22, India’s export of Passenger Vehicles (PV) has increased by 46 percent. During this period, Maruti Suzuki India (MSI) remained at number one with export of 1.68 lakh vehicles.
- SBI: The country’s largest bank SBI has increased the rates of FDs of less than Rs 2 crore by 10 basis points (0.10 per cent). The new rates are effective from January 15. After this decision of the bank, now interest will be available at the rate of 5.1 percent instead of 5 percent on FD of 1-2 years. Apart from this, there has been no change in the rates of FDs of other tenures. SBI gives the highest interest (5.40 percent) on FDs of 5-10 years. SBI gives interest at the rate of 5.10 percent on FDs of 2-3 years and 5.30 percent on FDs of 3-5 years.
- Sun Pharma/Lupin: Pharmaceutical companies Sun Pharma and Lupine are recalling their products from the US for different reasons. According to a recent enforcement report by the US FD (Food and Drug Administration), Sun Pharma is recalling 696 bottles of 50 mg Pregabilon capsules used for epilepsy, anxiety and nerve pain from the US market. Lupine is recalling 50832 bottles of gatifloxacin ophthalmic solution, an antibiotic used to treat bacterial infections of the eye.
- Oil India: State-owned oil company Oil India has exited the American shale oil venture Neobarra Shale Asset. Oil India has sold 20 per cent stake to its venture partner for $25 million. In the last two months, two Indian companies, including Oil India, have come out of the US shale business.
You can bet on these stocks in intra-day
According to Reliance Securities, today you can bet on DLF, Eicher Motors and Indian Energy Exchange in intra-day.
- DLF: In the price range of Rs 410-414, a long position can be taken with a target price of Rs 428 and a stop loss of Rs 407.
- OAK MOT: In the price range of Rs 2840-2860, you can take a short position by placing a stop loss of Rs 2880 at the target price of Rs 2770.
- IEX: One can take long positions in the price range of Rs 260-263 with a target price of Rs 275 and a stop loss of Rs 257.
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. digitnews.in Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)