Oil stocks, auto stocks, Hindustan Zinc, Vedanta, JSW Infra, HUL and Concor among top stocks to track today

Stocks to watch: At around 8:05 a.m. on Tuesday, October 3, the GIFT Nifty futures traded 134.5 points, or 0.68 per cent, lower at 19,579, suggesting a negative start to trading on Dalal Street.

After three days of gap, the share market will resume operations on Tuesday, October 3, 2023, with a focus on IT, auto, metal, and oil stocks. The bourses on Friday ended higher, with the BSE Sensex finishing 0.49 per cent, or 320.09 points, at 65,828.41 and the Nifty 50 finishing up 0.59 per cent, or 114.75 points, at 19,638.30. 

Financial markets were closed on Monday, October 2, on account of Gandhi Jayanti.

ZeeBiz takes you through the list of stocks that can gain traction as the market opens on Tuesday.

Oil stocks: Oil stocks such as ONGC and Oil India will be in focus as the benchmark Brent Futures touched the $97 per barrel mark.

It will put inflationary pressure on India's economy, given that the country imports much of its oil from abroad.

On Friday, the government also increased the windfall tax on domestically produced crude, increasing it to Rs 12,100 per tonne from Rs 10,000 per tonne.

The oil stocks are expected to be under selling pressure after the government's decision.

Banking stocks: Banking stocks such as SBI, HDFC Bank, and ICICI Bank will be on the radar in a week when the Reserve Bank of India reviews its bimonthly data in a three-day monetary policy meeting starting Wednesday (October 4).

IT stocks: IT stocks are expected to gather the limelight this week since TCS, HCL, and Infosys are all set to announce their quarterly numbers in a few days.

Auto stocks: Auto stocks such as Tata Motors, Maruti Suzuki, Bajaj Auto, and Hero MotoCorp will stay in the limelight since most of the automakers have met their sales targets, barring a few, with the most noteworthy being Maruti Suzuki. 

Coal India: The supply of coal to the power sector by state-owned Coal India increased 3.4 per cent to 294.8 million tonnes in the first six months of the current fiscal, even as demand for electricity touched record highs in the past two months, the Maharatna firm said on Monday.

The total amount of coal supplied was 1.8 MT more than the 293 MT demand projected for this period, Coal India Ltd (CIL) said in a statement.

Hindustan Zinc: Vedanta group firm Hindustan Zinc Ltd. said on Monday that its production of mined metal dropped marginally by one per cent to 2,52,000 tonnes in the second quarter of the ongoing fiscal.

Hindustan Zinc Ltd's (HZL) mined metal production was 2,55,000 tonnes in the second quarter of the previous fiscal.

Adani Power: Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027 as it looks to capture the energy transition business, as per reports.

JSW Infrastructure: Shares of JSW Infrastructure will be listed on the NSE and BSE today. 

Manoj Vaibhav Gems 'N' Jewellers: The company's shares will be listed on the stock exchanges today. 

Vedanta: The company's board has approved the demerger of different businesses and will divide the business among six listed companies. For every share of Vedanta Limited,  one additional share will be issued to newly formed companies (5). The entire process is expected to be completed by FY25. Except for Vedanta, the remaining five companies will be listed.

1-Vedanta Aluminum

2-Vedanta Oil and Gas

3-Vedanta Power

4-Vedanta Steel and Ferrous Material

5-Vedanta Base Metal.

UltraTech Cement: The company reported consolidated sales of 26.69 million tonnes (MT) in the second quarter ended September 30, 2023, registering a growth of 15.54 per cent from the same period last fiscal.

Coal India: Production in September increased by 12.6 per cent to 51.4 million tonnes (MT) against 45.7 MTs year-on-year (YoY). OFFTAKE increased by 12.6 per cent in September to 55.1 MTs against 48.9 MTs (YoY). Supply to power plants increased to 10 MTs

Oil & Gas / Aviation / QSR stocks: The windfall gain tax increased on domestic crude oil exports from Rs 10000/tonne to Rs 12100/tonne. Duty on Air Turbine Fuel (ATF) was also reduced from Rs 3.50/litre to Rs 2.50/litre. Aviation fuel prices are around Rs 5,779.84/KL, up 5 per cent.

Oil marketing companies increased the prices of commercial gas cylinders by Rs 209. 

Crude oil prices fell by 6.3 per cent since Friday's close. 

MGL / IGL / Gujarat Gas: The government has increased the prices of domestic natural gas from $8.60/mBtu to $9.20/mBtu, up 7 per cent. Aramco propane prices will be hiked in November from $550/t in October to $600/t in November, up 9 per cent.

Mahanagar Gas has cut the CNG prices by Rs 3 per kg and domestic PNG by Rs 2/SCM (around Mumbai). Jefferies has double upgraded to 'buy' from 'hold' and has raised the target to Rs 1,320 apiece from Rs 1,100. 

MOIL: Grade Mn-44 per cent and above Ferro manganese ore prices are reduced by 1.8 per cent and the prices of grades below Mn-44 per cent prices have been increased by 1.5 per cent. The company has logged a record growth of 54 per cent in sales in the first half of FY24. 

NMDC: As per reports, the company has increased the prices of iron ore to Rs 250/tonne. 

Kalpataru Projects International Ltd: The company has bagged new orders worth Rs 1,016 crore.

RVNL: The company is declared as the L1 bidder for a project worth Rs 1,098 crore. 

KSB Ltd: The company received an order worth Rs 55 crore from Nuclear Power Corporation.

ASTRA MICROWAVE PRODUCTS: The company's joint venture company, Astra Rafael Comsys, gets orders worth Rs 96.5 crore.

CONCOR and Gateway Distriparks: The Indian railways have increased haulage charges on container traffic by 10 per cent due to the busy season. New rates will apply from October 1, 2023, to March 31, 2024, and then from April 1, 2024, to June 30, 2024.

Aurobindo Pharma: The US Food and Drugs Administration (USFDA) has investigated the Telangana formulation manufacturing unit and issued an objection with Form 483. USFDA investigation continued from September 22 to September 29.

Granules: ANDA approval was received from the USFDA for tablets for hypertension, blood pressure, and stroke. The current market size of this tablet in the US is (607 crores) $73 million.

HUL: CLSA has upgraded the stock to 'buy' and has raised the target to Rs 3,135. Macquarie has maintained 'Outperform' and has raised the target to Rs 3,000 apiece. 

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