The stock market is expected to open in the red today as trends on the SGX Nifty indicate a negative opening for the index in India.
The sharp downside momentum continued in the stock market on Thursday. NSE Nifty dipped 133 points and closed at 17,764 whereas BSE Sensex slipped 372 points and closed at 59,636 levels.
According to stock market experts, Nifty is now placed at the edge of the support of ascending trend line, which is connected through previous swing lows at 17,750 levels. This is not a good sign and this signal chance of downside breakout of the trend line support in the short term.
Here are stocks that investors should watch out for:
Reliance Industries: Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context.
Sun Pharmaceutical Industries: The drug maker is recalling over 1.10 lakh bottles of a generic medication used to treat erectile dysfunction in men in the US market due to a manufacturing error.
Cadila Healthcare: Zydus Cadila has received final approval from the USFDA to market Decitabine for injection in the strength of 50 mg/vial single-dose vial.
Bharti Airtel: The company has hiked prepaid tariffs effective November 26.
IRB Infrastructure Developers: The company said that its shareholders have passed a resolution that will enable a capital inflow of Rs 5,347 crore into the company.
Vedanta: The company said the Supreme Court has permitted the government to go ahead with the proposal to divest its complete stake in Hindustan Zinc Ltd in the open market. Hindustan Zinc is a subsidiary of Vedanta Ltd.
Havells India: The company has started commercial production of washing machines at its Ghiloth plant.
Biocon: Arohi Asset Management Pte Ltd acquired 0.108 per cent stake in the company via open market transaction, increasing shareholding to 5.071 per cent from 4.963 per cent earlier.
Parsvnath Developers: Realty firm Parsvnath Developers has tied up with Unity Buildwell to develop a 4 lakh square feet luxury retail mall in West Delhi and both partners expect a rental income of at least Rs 100 crore annually from this project.
SBI: State Bank of India (SBI) is yet to return Rs 164 crore of the undue fee charged from the account holders of Pradhan Mantri Jan Dhan Yojana (PMJDY) towards digital payments during April 2017 and December 2019, a report said.
Laurus Labs: The company acquired a substantial minority stake in a CAR-T cell therapy company - Immunoadoptive Cell Therapy.