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Stocks to Watch: TCS, HDFC, Oil, Tata Steel, KEC, Banks, Coal India

Stocks to Watch Today: The markets are likely to trade on Tuesday on a positive note tracking the near about 2.5-per cent rally in the US markets. At 07:40 AM, the SGX Nifty futures quoted at 17,085, indicating a gap-up of around 150 points on the Nifty 50 index.

In the primary market, Electronics Mart India IPO will open for subscription today. The company is the fourth largest consumer durable and electronics retailer in India. The offer price is the Rs 56 to Rs 59 band, and the company aims to garner Rs 500 crore from the issue, which closes on October 7, 2022. The company intends to utilize the net proceeds towards capital expenditure, debt repayment and incremental working capital requirements.

Meanwhile, following are the stocks that are likely to some action in trades on Tuesday.

TCS: Tata Consultancy Services (TCS) is set to win a $2 billion deal from BSNL to roll out its 4G and 5G services across the country. According to sources, the final approvals may take a couple of months. READ MORE

Zee Entertainment: The Subhash Chandra-led firm, which is seeking to merge its operations with Sony Pictures Networks India, may exit the Marathi entertainment space in a bid to allay concerns raised by the Competition Commission of India (CCI). READ MORE

HDFC: The mortgage lender said, its loans assigned grew by 28.2 per cent in Q2FY23 to Rs 9,145 crore from Rs 7,132 crore in a year ago period.

Oil-related: Shares of oil related companies will be in focus, as the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, are to scheduled meet on Wednesday to finalize output quotas for November. According to reports, OPEC+ will be considering an output cut by over 1 million barrels per day.

Tata Steel Long Products: The company, a subsidiary of Tata Steel, informed exchanges that it achieved a major milestone with the restarting of the Blast Furnace at the Kalinganagar plant of its newly acquired arm – Neelchal Ispat Nigam – within 90 days.

Banking shares: Following the Reserve Bank of India’s (RBI’s) decision to raise the repo rate by 50 basis points (bps) to 5.9 per cent on September 30, several banks, including State Bank of India (SBI), ICICI Bank, Yes Bank and Bank of India have increased lending rates. Thus making the cost of borrowing and EMIs on home loans costlier.

Eicher Motors: The stock has been on an uptrend since its lows in May, and has gained 34 per cent year-to-date. Going forward, analysts expect volume growth aided by festive season sales and response to upcoming launches to be the near term triggers for the stock. READ ANALYSIS

KEC International: The company has secured new orders worth Rs 1,407 crore across all segments. The company’s year-to-date order book now stands at Rs 8,400 crore.

Coal India: India’s overall coal output rose a 12 per cent to 57.93 million tonnes in September. Coal India registered a growth of 12.35 per cent by producing 45.67 MT coal last month, as per the provisional statistics of the coal ministry.

Motilal Oswal: A private equity fund promoted by Motilal Oswal garnered commitments of Rs 4,500 crore for a new platform. With the latest close, the overall assets under management for Motilal Oswal touched Rs 14,000 crore.

Anupam Rasayan: The company’s board has approved a proposal to raise up to Rs 500 crore by way of placement of equity shares to QIBs (Qualified Institutional Buyers) at Rs 725 per share.

Dilip Buildon: The company’s joint venture – RBL-DBL has bagged a Rs 1,061 crore contract from Surat Metro Rail project in Gujarat.

IRB Infrastructure: The company has received credit rating affirmation from Acuite Ratings & Research for its Rs 350 crore secured redeemable non-convertible debentures (NCDs), Rs 150 NCDs and Rs 25 commercial paper.

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