Infosys, Honasa Consumer, RateGain, Tata Steel, Welspun: Stocks to watch on Thursday

Stocks to watch: At around 8:07 a.m. on Thursday, November 23, the GIFT Nifty futures traded flat with a negative bias, down 0.01 per cent or 2.5 points, at 19,895.5, suggesting a muted start to trading on Dalal Street.

In the previous session, the Nifty 50 closed higher by 28.45 points, or 0.14 per cent, at 19,811.85, while the Sensex settled higher by 92.47 points, or 0.14 per cent, at 66,023.24.

Here is a list of stocks that will be in focus on Thursday, November 23: 

Infosys

The company announced a strategic, long-term collaboration with TK Elevator (TKE), one of the world’s leading urban mobility companies.

Both companies will work together to transition the operations of all TK Elevator’s business applications across North America and major markets in Europe to Infosys, thereby enabling integrated application management.

Honasa Consumer

The parent company of Mamaearth posted its Q2 results on Wednesday after market hours. The company’s consolidated profit increased from Rs 15.19 crore to Rs 29.44 crore on a year-on-year (YoY) basis.

RateGain Travel and Technologies

Shares of the company will be in focus as its 93,31,259 equity shares raised through Qualified Institutional Placement (QIP) will be admitted for trading on bourses from Thursday, November 23, 2023, as per a BSE circular. 

Welspun Corp

Investors will keep an eye on Welspun Corporation shares after its subsidiary, Sintex BAPL, received the Odisha Government’s nod for its proposal to invest Rs 479.47 crore for establishing a manufacturing unit for CPVC, UPVC, SWR, Agri Pipes, PVC fittings, and plastic tanks with an annual capacity of 37,520 MT in Sambalpur, Odisha.

The project is likely to be implemented over the next three fiscal years and create employment opportunities for 1,000 people, as per the filing.

Tata Steel

The company’s board approved the allotment of 7,58,00,309 fully paid-up equity shares to eligible shareholders of Tata Steel Long Products Limited (‘TSLP’). The shares have been allotted in terms of the scheme of amalgamation amongst Tata Steel Limited, Tata Steel Long Products Limited, and their respective shareholders.

Liberty Shoes

Liberty Shoes removed its Executive Director Adesh Kumar Gupta from the board after the National Company Law Tribunal (NCLT) dismissed his petition seeking exemption on requirements to file a plea, according to a regulatory filing.

Gupta, who along with some other shareholders holds a 5.83 per cent stake in the company, had filed a plea under Section 244 of the Companies Act, 2013, seeking a waiver of the requirements to file a plea alleging oppression and mismanagement.

Genesys International Corporation

Survey of India and Genesys International Corporation Ltd inked a strategic tie-up for the 3D digital twin mapping programme in India.

CE Info Systems

The company’s board will consider and approve the proposal of raising the funds by way of issuance of equity shares through permissible modes in a meeting on Monday, November 27, 2023.

Indian Energy Exchange

Zee Business analysts believe the fear of market coupling has been averted for now. As per the report, 70 per cent stakeholders are not in favour of market coupling.

TVS Motors

The company has made its foray into Vietnam in collaboration with distribution partner Minh Long Motors.

Interglobe Aviation

The company has received a Rs 1,687 crore order from the Income Tax Commissioner-Appeal. Now, the company will pursue a legal course of action against CIT-Appeals.

Selan Exploration

The company has received a scheme of arrangement with Antelopus Energy Private. In the share swap, for each equity share of Antelopus Energy Private Limited, investors will get 4,287 shares.

CDSL

The total number of demat accounts of the company crosses 10 crores. Nuvama increased the target price to Rs 2020 from earlier Rs 1670.

CE Infosystems

The company's board will meet on November 27 to mull fundraising via QIP, preferential issue, or other modes.

Gujarat State Petronet Limited (GSPL)

Mirae Asset acquired 7.4 lakh shares in the company on November 21 from the open market.

Two-wheeler stocks:

Stocks in the two-wheeler space will gain traction as JP Morgan has raised targets. For Bajaj Auto, the global brokerage maintained an overweight rating with an increased target of Rs 6,400. For Hero MotoCorp, too, it is overweight, with a raised target of Rs 3,750. Likewise, for TVS Motor, the brokerage is overweight and has suggested a target of Rs 1,830.

Oil & Gas Stocks in Focus, Paint Stocks, Tyre Stocks in focus

The meeting of OPEC+ has been deferred to November 30 from the earlier November 26, and in response, the crude oil price is highly volatile.

Corporate Actions

Amrutanjan Health Care, P&G Health, and Premco Global will trade ex-dividend, while Shaily Engineering Products will trade ex-split.

(With agency inputs)

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