Stocks to Watch: Maruti, Axis Bank, JSW Steel, NMDC, Rel Capital, FMCGs

The markets seem set for a pull-back this morning owing to the positive cues from the Asian markets and SGX Nifty. As of 08:20 AM, the December Nifty futures on SGX were quoted 63 points higher at 17,147 this morning. Meanwhile, here the top stocks to focus in trade today.

Maruti: The car market expects December production at its Gujarat and Haryana plant to be impacted by the ongoing semiconductor shortage. According to a release issued to the stock exchanges, the total vehicle production at both the plants could be 80-85 per cent of the normal production. READ MORE

Shriram Group stocks: Financial services major Shriram Group’s founder, R Thyagarajan, on Tuesday came out with a succession plan through the trust route by appointing a board of management to run the Shriram Ownership Trust (SOT).

The four-member board of management – D V Ravi, managing director (MD) of Shriram Capital; Umesh Revankar, MD of Shriram Transport Finance; Jasmit Gujral, MD of Shriram General Insurance; and R Duruvasan, former MD of Shriram City Union Finance – will run the group’s business, and Thyagarajan will act as a mentor to the new board. READ MORE

Axis Bank: In a relief to the private lender, the Securities Appellate Tribunal (SAT) has quashed a direction issued by NSE that funds lying in the bank account of Karvy Stock Broking are the assets of the exchange’s defaulter committee. READ MORE

NMDC: The state-owned mining company on Tuesday slashed prices of lump ore by Rs 750 a tonne and fines Rs 200 per tonne, with immediate effect.

Reliance Capital: After superseding the board of Reliance Capital, the RBI on Tuesday appointed an advisory committee tasked with assisting the administrator appointed to the company in discharging his duties.

FMCG stocks: India’s fast-moving consumer goods market grew 12.6 per cent in the quarter ended September compared to the same period last year largely led by higher prices and an increase in urban consumption, NielsenIQ said in its release.

Rural markets witnessed a slowdown due to consumption decline with value growth at 9.4 per cent which was largely led by price increase. Volumes contracted 2.9 per cent due to lower consumption of items like cooking oil, packaged grocery, hot beverages and fabric care, the release added.

Mining shares: JSW Steel and Adhunik Power & Natural Resources were among the seven companies to have submitted bids for four coal blocks put up for sale under “second attempt” of auction process for 11 mines for commercial mining.

Weizmann: The company’s board has set December 07, 2021, as the record date for the proposed buyback of 14, 12, 515 equity shares at Rs 60 each.

SMS Lifesciences: The company’s board has approved sale of up to 10 per cent in its wholly owned subsidiary Mahi Drugs to US-based strategic investor ChemWerth, on a private placement basis.

Bombay Rayon Fashions: The company reported a turnaround in March quarter standalone earnings, with a net profit of Rs 388.01 crore as against a net loss of Rs 285.32 crore in the quarter ended March 2020. Total income, however, was down 63 per cent at Rs 42.79 crore from Rs 115.65 crore.

Stocks in F&O ban: Indiabulls Housing Finance is the only stock in F&O ban today.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor