TCS, Tata Motors, IOCL: Stocks to watch out for on Wednesday

Stocks to watch out for on Wednesday: At 08:14 AM, GIFT Nifty traded 19 points, or 0.09 per cent higher at 20,146.5, indicating a flat start with a positive bias for domestic equities on Wednesday, November 29.

Benchmark equity indices Sensex and Nifty snapped two days of losses and closed higher on Tuesday following last-hour buying in auto, power, and metal shares, helped by fresh foreign fund inflows.

The 30-share BSE Sensex rose by 204.16 points, or 0.31 per cent, to settle at 66,174.20 in a volatile trade.

The Nifty gained 95 points, or 0.48 per cent, to settle at 19,889.70 as 39 of its components closed in the green and 11 ended lower.

Among the Sensex firms, Tata Motors, Bajaj Finserv, UltraTech Cement, Bharti Airtel, Bajaj Finance, NTPC, Titan, and Axis Bank were the major gainers.

ITC, Hindustan Unilever, ICICI Bank, and Power Grid were among the laggards.

In this write-up, ZeeBiz takes you through the list of shares that can grab the headlines as the market opens on Wednesday (November 29).

TCS

The tech giant announced on Tuesday that its share buyback would open on December 1.

The closing date for the same is December 7, 2023, TCS said in a BSE filing.

The IT major's board earlier gave the nod to buy back up to 4,09,63,855 equity shares of the company for an aggregate amount not exceeding Rs 17,000 crore, representing 1.12 per cent of the total paid-up equity share capital, at Rs 4,150 apiece, in a meeting held on October 11.

To avail of the offer of the latest buyback from the IT company, one needs to own TCS shares in their demat account as of the record date, which was November 25.

Oil stocks 

Oil stocks such as ONGC, Indian Oil (IOCL), Hindustan Petroleum (HPCL), and Bharat Petroleum (BPCL) will stay in focus amid the OPEC+ meeting, which is set to take place on Thursday at 13:00 GMT.

In the meeting, individual quotas and supply cuts will remain the central topics. Lower crude prices can help oil stocks rise. Shares of HPCL, BPCL, and IOCL hit their respective 52-week highs on Tuesday after crude oil prices fell below $80 on Monday. Further, BPCL shares will gain traction as its board will meet today to mull the interim dividend for FY24.

Auto Stocks

Auto stocks will be in focus after industry body FADA, releasing data on festive season sales, said on Tuesday that the automobile sector logged 19 per cent retail sales volume growth during the 42-day festive period.

At the same time, automakers are also increasing the prices of their vehicles.

Amid two important factors, auto shares such as Tata Motors, Maruti Suzuki, TVS Motor, and Eicher Motors will be on investor radar on Wednesday. 

Fertiliser stocks 

Fertiliser stocks like Coromendal International Limited, Chembal Fertilisers and Chemicals Limited, and Tata Chemicals will be in focus on Wednesday after sources told Zee Business that the mining ministry would invite bids for domestic potash mining for the first time in the country. Bids will be invited for two blocks in Hanumangarh, Rajasthan.

Siemens Ltd

Siemens Ltd shares are expected to draw investor interest on Wednesday as the firm reported its second-quarter results on Tuesday evening. Margin at the company during Q2 logged an increase and jumped to 11.7 per cent as against 10.8 per cent in the same quarter last year. Profit also gained 36.2 per cent year-on-year (YoY).

Hindustan Aeronautics

Zee Business Research expects the defence major to sell 12–15 advanced light helicopters to the Philippines. Also, the research team said the company is expected to increase its fighter jet manufacturing capacity by 2025.

Zomato

China's Alipay Singapore Holding, with a 3.44 per cent stake in the food services aggregator (Rs 29.6 crore), can pare the stake in the company. The offloading is seen to be at a price of Rs 111.28, which is at a discount of 2.2 per cent to the last traded price of Rs 113.8.

Aster DM Healthcare

The company's board, together with its subsidiary, has given their go-ahead to segregate the company's India and GCC (Gulf Cooperation Council) businesses. From the deal, the company's subsidiary is seen to get Rs 8215 crore. Further, the proceeds will be distributed among Aster DM Healthcare's shareholders as dividends.

PCBL Limited

The company has acquired a 100 per cent stake in Aquapharm Chemicals Private Limited in a deal valued at Rs 3,800 crore. Through the move, the company will foray into the space of water treatment chemicals and oil and gas chemicals.

BHEL

The Ministry of Defence (MoD) has inked a contract worth Rs 2,957 crore with a heavy electrical equipment company. As part of the deal, the company will manufacture 16 advanced Super Rapid Gun Mounts and its accessories for the Indian Army. 

Tata Power

The utility company's subsidiary has received a contract from SJVN to develop a 200 MW renewable energy project.

Havells

The consumer durable major has launched its brand Lloyd in the Middle East market. And for the distribution of its product in the newly tapped market, Havells has inked an agreement with TeknoDome.

Orchid Pharma 

The company's promoter sold 13 lakh shares, aggregating to 2.56 per cent equity in the company at Rs 571.28 per share. Meanwhile, UTI MF bought 4.45 lakh shares (0.87 per cent) at Rs 571 per share.