As the Indian stock market navigates through a phase of heightened volatility, investors are keenly observing key stocks that are expected to make significant moves. On Monday, the benchmark indices, Sensex and Nifty, ended lower as cautious sentiment prevailed ahead of the US Federal Reserve’s interest rate decision. This was compounded by weak global cues, selling pressure in the metal and IT sectors, and sluggish economic data from China.
Market Overview
The Sensex dropped 384 points, while the Nifty settled below the 24,700 mark, reflecting a broader trend of selling across various sectors. The rupee’s depreciation against the dollar further dampened investor sentiment, leading to a cautious approach among market participants. As traders await critical economic signals from the US Fed, several stocks are poised to attract attention due to recent developments.
Key Stocks in Focus
Here are some stocks that are expected to be in the spotlight today:
1. Vedanta
Vedanta’s board has approved a fourth interim dividend of ₹8.5 per share for FY25, amounting to ₹3,324 crore. The record date for this dividend is set for December 24, making it a key stock to watch as investors react to this positive news.
2. Wipro
Wipro has announced its acquisition of Applied Value Technologies, Inc., along with its affiliates in Singapore and the Netherlands. This strategic move is aimed at strengthening Wipro’s application services capabilities and is expected to open new growth avenues for the IT giant.
3. Zomato
In a potential game-changer for the food delivery sector, the GST Council is considering reducing the tax on food delivery charges by e-commerce platforms from 18% to 5%. This could significantly impact Zomato’s operational costs and profitability, making it a stock to keep an eye on.
4. HDFC Bank
HDFC Bank has received an administrative warning letter from SEBI regarding alleged non-compliance with disclosure norms under SEBI Listing Regulations. Investors will be watching closely how this situation unfolds and its implications for the bank’s stock performance.
5. Rail Vikas Nigam (RVNL)
RVNL has secured a ₹270 crore order from Maharashtra Metro Rail Corporation for constructing elevated metro stations. This contract not only bolsters RVNL’s order book but also highlights its growing role in India’s infrastructure development.
6. Hindustan Petroleum Corporation (HPCL)
HPCL’s board has approved a ₹4,679 crore modernization project at its Mumbai refinery, which aims to enhance lube oil base stock production and improve output quality. This development could positively influence HPCL’s operational efficiency and market position.
7. Godavari Biorefineries
Godavari Biorefineries plans to invest ₹130 crore in establishing a new corn and grain-based ethanol distillery with a capacity of 200 KLPD (kilo litres per day). This investment aligns with India’s push towards renewable energy sources and could enhance the company’s growth prospects.
Conclusion
As investors brace for potential market fluctuations influenced by external economic factors and internal corporate developments, these stocks are likely to be at the forefront of trading activity today. Keeping an eye on these key players could provide valuable insights into market trends and investment opportunities.
Disclaimer
Investors should conduct their own research or consult with financial advisors before making any investment decisions based on this information. The stock market is inherently risky, and past performance is not indicative of future results.
