Stocks to Watch: Tata Coffee, J B Chemicals, Hindustan Petroleum, Azad Engineering
Here are some stocks to watch out for ahead of Friday’s trading session
Tata Coffee: Tata Group company’s Tata Coffee will complete the merger with Tata Consumer Products Ltd (TCPL), and Tata Beverages and Foods Ltd (TBFL) on Monday, the company said in its stock exchange filing on Thursday. Tata Coffee shares closed 1.33% higher at ₹308.15 per share on Thursday.
J B Chemicals and Pharmaceuticals Ltd: JB Chemicals looks to continue its growth momentum, driven by the geographical expansion of legacy brands, scale-up in Sanzyme, Azmarda, and Razel franchises, MR productivity improvement, scale-up of contract manufacturing business and new product launches across markets. The shares closed lower at ₹1,614 on Thursday.
Hindustan Petroleum: Shares of Indian oil marketing companies are on an uptrend and scored record-high levels on Thursday. Hindustan Petroleum Corporation Ltd (HPCL) surged significantly and were locked at 10% upper circuit to hit a 52-week high mark of ₹425.45 apiece on the BSE. HPCL emerged as one of the top gainers on BSE on Thursday.
Suzlon Energy Ltd: Suzlon Energy won an order for the development of a 300-MW wind power project for Apraava Energy, the company said in a filing on Thursday. Last week, the company bagged a repeat order for the development of a 193.2 MW wind power project from The KP Group. The shares of the company closed 3% up at 38.15 on Thursday.
Zomato Ltd: Online delivering platform Zomato Ltd share price closed 3% down at ₹123.20 on Thursday after the company said that it has received a show cause notice from the Goods and Services Tax (GST) office for supposed tax liability of ₹401.7 crore, in addition to interest and penalty on the delivery fee collection from its customer from the period of 29 October 2019 to 31 March 2022.
Asian Paints: Despite the competition from new entrants, Asian paints has been able to maintain its market leadership as well as enjoys premium valuation led on the back of its product portfolio, strong presence in decorative space and its foray into allied segments as well as healthy distribution reach. The shares closed at ₹3,397 on Thursday.
Lemon Tree Hotels: The company signed a franchise agreement for an upcoming hotel in Mussoorie, Uttarakhand. This opening will be in addition to existing eight and seven upcoming hotels and resorts in the state. The shares of the company closed 1.1% up at ₹119.60 on Thursday.
Indian Oil: Shares of Indian Oil Corporation (IOC) were locked at over 5% upper circuit to hit its fresh 52-week high of ₹133.95 apiece on the BSE. OMCs in India will find support with international crude oil prices sustaining below the $80 per barrel mark in the near-term. Oil prices steadied as concerns eased about shipping disruptions along the Red Sea route.
Azad Engineering: Azad Engineering’s IPO made a decent stock market debut on Thursday as the shares were listed at ₹720 apiece on the NSE, a premium of 37.40% to the issue price of ₹524 per share. On the BSE, Azad Engineering shares began trading at ₹710.00 apiece, witnessing a premium of 35.50% to the issue price. The shares closed 30% up at ₹677 after touching ₹727 on Thursday.
Equitas Small Finance Bank: The Reserve Bank of India approved ICICI Prudential Asset Management Company Ltd to acquire ‘aggregate holding’ of up to 9.95% of the paid-up equity capital or voting rights in Equitas Small Finance Bank. The shares of Equitas Small Finance Bank closed 1.4% down at ₹106.75 on Thursday.
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Published: 29 Dec 2023, 06:52 AM IST
