Stocks to Watch: Bank of Baroda, Eicher Motors, LIC, ONGC

Stocks in Focus: GIFT Nifty traded up 27 points or 0.14% at 19,862, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Friday, the NSE Nifty 50 slipped 7.30 points or 0.04% to settle at 19,790.55, while the BSE Sensex dropped 47.77 points or 0.07% to 65,970.04.

“Markets consolidated in a range for yet another session and ended unchanged. It is a healthy consolidation in the Nifty so far and we feel only a decisive gap-up move above 19,850 could pave the way for a new high else range bound bias would continue. Participants should keep a close watch on the US markets and the performance of the banking majors for cues. Meanwhile, stay selective and avoid contrarian trades,” said Ajit Mishra, SVP – Technical Research, Religare Broking.

Eicher Motors

The company’s subsidiary, Royal Enfield, unveiled the Royal Enfield Shotgun 650 in Goa, with a special colorway and edition: the Shotgun 650 Motoverse Edition. While the continuous production motorcycle will be launched early next year, the Shotgun 650 Motoverse Edition is a limited-release, custom-designed colorway. The Shotgun 650 Motoverse Edition is priced at INR 4,25,000 (ex-showroom), and delivery of these 25 motorcycles will begin in January 2024, the company said in a press release.

Maruti Suzuki India

The Company has planned to increase the prices of its cars in January, 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the Company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market, Maruti Suzuki said in a regulatory filing.

Life Insurance Corporation

LIC has initiated a total digital transformation project DIVE (Digital Innovation and Value Enhancement) and appointed a consultant to steer the project, LIC Chairman Siddhartha Mohanty told PTI in an interview. “Our objective is to get best-in-class digital initiatives for all our stakeholders, customers, intermediaries, marketing people and everybody through the project DIVE,” he said.

Fortis Healthcare

Fortis Malar Hospitals said it will sell Malar Hospital at Gandhi Nagar in Chennai for Rs 45.5 crore to MGM Healthcare. The company has signed a definitive agreement for the sale of its business operations pertaining to Malar Hospital at Gandhi Nagar, Adyar, Chennai, to MGM Healthcare (MGM), a prominent healthcare delivery service provider, Fortis Malar Hospitals said in a regulatory filing.

ONGC, BPCL, HPCL

India’s top oil and gas producer ONGC has signed term contracts with refiners to sell crude oil it produces from Mumbai offshore fields at a premium to international benchmark Brent, reported PTI. Oil and Natural Gas Corporation (ONGC) has signed deals to sell about 4.5 million tonne of crude oil each to Bharat Petroleum Corporation and Hindustan Petroleum Corporation.

DLF

The Enforcement Directorate searched the premises of realty major DLF in Gurugram as part of a money laundering investigation against real estate firm Supertech and its promoters, official sources said on Saturday. The central agency has recovered some documents during the action that was carried out over the last two days, they said. The action is linked to the ED investigation against Supertech, the sources said.

(With agency inputs.)