These stocks are likely to be in focus on January 24
Indian equity markets corrected this week in line with the global market sell-off.
At close, the Sensex dropped by 427.44 points or 0.72 per cent ending at 59,037.18 level and the Nifty squeezed by 139.85 points or 0.79 per cent settling at 17,617.15 level.
On the sectoral front, capital goods, pharma, IT, metal, oil & gas and realty indices closed down 1% each. However, buying was seen in the auto stocks. BSE midcap and smallcap indices were down 1% each.
These stocks are likely to be in focus for Monday’s trading session -
Persistent Systems – The share price gained up to 6% to trade at Rs 4,500 on Friday after the company showed improved performance for the quarter ended December 2021. Persistent Systems has posted a 45.87% jump in its net profit at Rs 176.39 crore for the quarter ended last December against Rs 120.92 crore a year back. The Q3FY21 consolidated revenue was up 38.71% at Rs 1,491.71 crore against Rs 1,075.39 crore, YoY. The board of directors of the company has approved the payment of an interim dividend of Rs 20 per equity share of Rs 10 each for FY22
Kajaria Ceramics – The company has announced its investment in Kajaria Ultima Private Limited (KUPL). KUPL is yet to set up its state of art slab plant in Gujarat to commence manufacturing of slab/tiles. After completion of the proposed investment, KUPL would become a wholly-owned subsidiary of the company and KUPL would carry out the manufacturing of slabs/tiles. This investment aims at capturing the potential of bigger size tiles and slabs. The stock has plunged 5.95% in Friday’s trading session.
52-week high stocks – From the BSE 200 pack, the stocks of Adani Green, Adani Transmission, Tata Elxsi and Powergrid Corporation of India have hit their 52-week high price on Friday.
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