Coal India reported a 3.4 per cent rise in production at 51.7 million tonnes in November
The domestic stock markets are likely to open on a cautious note, after closing at record highs in Tuesday’s session, going by indications from SGX Nifty trading. Early SGX Nifty trends indicate a negative opening for the index in India, with a 22-point loss. At 7:30 am, the Nifty futures were trading at 13,129, lower by 22 points or 0.2 per cent on the Singapore Stock Exchange.
Market participants are awaiting RBI’s scheduled bi-monthly policy review due later this week for near-term triggers.
Here are few stocks that will be in focus in Wednesday’s (December 2) session:
Coal India
Coal India shares are likely to be in the limelight after the state-owned company reported a 3.4 per cent rise in production at 51.7 million tonnes (MT) in November, against an output of 50 MT in the corresponding month of the previous fiscal.
Dr Reddy’s Labs
Dr Reddy’s Labs counter may witness buying interest after the pharma giant, in collaboration with Russian Direct Investment Fund (RDIF), commenced clinical trials of Sputnik V vaccine in India.
Auto companies
Auto companies, including Tata Motors, Hero MotoCorp and Eicher Motors, are set to hog the limelight on the bourses after reporting stellar sales performance for the month of November.
Tata Motors’ sales in the domestic and international markets rose by up 20.7 per cent to 49,650 vehicles in November 2020, from 41,124 units in the corresponding month of the previous year.
Hero MotoCorp sold 5,91,091 units of motorcycles and scooters in November 2020, as against 5,16,775 units in November 2019.
And Eicher Motors sold 63,782 motorcycles in November 2020, against 60,411 motorcycles in November 2019.
Ajanta Pharma
Ajanta Pharma shares may see some action after the company received approval from the US FDA for its high blood pressure drug, Chlorthalidone.