As the domestic benchmark indices BSE Sensex and NSE Nifty50 are expected to open on a positive note today, here are some key stocks to keep an eye on:
1. Vedanta
Focus: Vedanta, led by Anil Agarwal, is in the spotlight as the company plans to offload a 2.6% stake in Hindustan Zinc via an offer for sale through stock exchanges. This move could potentially impact the stock price based on market response to the sale.
2. Ola Electric
Focus: Ola Electric is among the companies reporting their Q1FY25 results today. As a high-profile electric vehicle manufacturer in India, any significant announcements or financial results could influence market sentiment and investor interest.
3. Nykaa (FSN E-Commerce Ventures)
Focus: Investors will be watching Nykaa closely as the e-commerce giant, known for its beauty and wellness products, has been under scrutiny for its growth prospects and financial performance. Any updates or results could have a notable impact on its stock price.
4. NBCC (National Buildings Construction Corporation)
Focus: NBCC could see movement today as market participants look for updates on its project pipeline, execution capabilities, and any potential government contracts that could drive growth.
5. SJVN (Satluj Jal Vidyut Nigam)
Focus: As a key player in the power sector, especially in hydroelectric power, SJVN’s performance and any updates on its projects or financials could draw investor attention.
Q1FY25 Results to Watch
Hero MotoCorp: Posted a significant 47.3% Y-o-Y increase in consolidated net profit to ₹1,032 crore, driven by strong demand in the 110-125 cc motorcycle segment and the successful launch of the electric scooter Vida.
Hindalco Industries: Reported a 25.26% Y-o-Y increase in consolidated net profit to ₹3,074 crore for Q1FY25, supported by favorable macros, operational efficiencies, and lower input costs.
Global Cues
Positive global cues, especially from U.S. markets where major indices like the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average ended higher, could provide a supportive backdrop for Indian markets today.
Asian Markets
Mixed performance in Asian markets, with Japan’s Nikkei, the Asia Dow, and South Korea’s Kospi trading higher, while Shanghai Composite and Hong Kong’s Hang Seng were down, could influence investor sentiment during the trading session.
Keep an eye on these stocks and market indicators as trading unfolds today.
Related topics: