These stocks are likely to be in focus on September 7
On Tuesday, the domestic benchmark indices faded early gains to settle on a flat note, tracking mixed global cues.
The energy crisis and future European Central Bank (ECB) interest rate decisions dominated the sentiments in European markets.
Benchmark indices ended the session with Sensex being down by 48.99 points or 0.08% at the 59,196.99 level, while Nifty dropped 10.20 points or 0.06% at the 17,655.60 level.
On the sectoral front, buying was seen in oil & gas, power, and metal names, while financials, FMCG, and IT indices ended lower.
Keep an eye on these stocks for Wednesday’s trading session:
Adani Power - Billionaire Gautum Adani plans to start exporting electricity from a coal-fired plant in eastern India to Bangladesh before the end of the year, helping to alleviate energy shortages in the South Asian nation. Adani Power will commission a 1.6 GW facility in Jharkhand state and a dedicated transmission line for the exports by December 16. On this news, the share of Adani Power soared 5% in an otherwise dull market.
Tyre Stocks – On the prediction of robust demand and expansion of margins, Tyre stocks were seen running in a substantially upward direction in an otherwise weak market. JK Tyre & Industries jumped 8% to Rs 159.50, while, MRF, TVS Srichakra and Goodyear India elevated by 4%. Apollo Tyres gained 7% to reach Rs 272.35 while Ceat surged 5% to Rs 1,458.40, simultaneously hitting their respective 52-week highs. Watch out for these stocks in upcoming trading sessions.
Kalpataru Power – The shares of Kalpataru Power heavily outperformed in Tuesday’s trading session shooting up 9% on an intraday basis. Investors' sentiments were hoisted after the company and its international subsidiaries secured new orders worth Rs 1,345 crore. The company has received orders in India and overseas markets in the transmission and distribution (T&D) business along with pipeline laying works and metro rail electrification in India.
Price Volume Breakout Stocks – Some of the stocks which have shown a price volume breakout in today’s weak trading session comprised of Central Bank of India, Brigade Enterprises, Varun Beverages, NLC India and Crompton Greaves Consumer Electricals. These stocks have gained up to 6.74% during the trading session.
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