MCX, Tata Steel, TCS, IDFC First Bank, Oil & Gas stocks and Titan among top stocks to watch today

Stocks to watch: The Indian share market closed in positive territory on Friday, October 6, after the Reserve Bank of India (RBI) kept the repo rate unchanged, which helped rate-sensitive stocks edge higher. Broad-based buying was seen on the sectoral front.

Representative image. Source: Pexels

Stocks to watch: At around 8:15 a.m. on Monday, October 9, the GIFT Nifty futures traded 51.35 points, or 0.26 per cent, lower at 19,636.5, suggesting a negative start to trading on Dalal Street.

The Indian share market closed in positive territory on Friday, October 6, after the Reserve Bank of India (RBI) kept the repo rate unchanged, which helped rate-sensitive stocks edge higher. Broad-based buying was seen on the sectoral front.

At close, both indices were 0.55 per cent higher. The S&P BSE Sensex was up 364.06 points at 65,995.63, and the NSE Nifty was up 107.75 points at 19,653.5.

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Multi Commodity Exchange (MCX): Market regulator, the Securities and Exchange Board of India (SEBI), has lifted the ban on new software of MCX after the recommendation of the Technical Advisory Committee.

IDFC First Bank: The board has approved the issuance of 33.24 crore shares through QIP, with the floor price fixed at Rs 90.25 per share.

TCS: Tata Consultancy Services Ltd. (TCS), India's largest technology services company, will be considering a proposal for a buyback of equity shares on October 11, it said in an exchange filing.

Titan: Titan on Friday reported a 20 per cent growth in standalone revenue for the second quarter ended September 30, 2023. During the period, it added 81 stores across verticals, taking the group's retail presence to 2,859 outlets, according to a quarterly update by Titan. Its jewellery division reported revenue growth of 19 per cent.

CLSA has maintained an 'Outperform' rating on the stock and has raised the target price to Rs 3,540. Macquarie has also maintained an 'outperform' rating and raised the target price to Rs 3,600.

Tata Steel: The company reported production volume at 4.99 MT against year-on-year (YoY) 4.8 MT, up 4 per cent. The delivery volume stood at 4.82 MT against 4.91 MT a year ago, down 1.8 per cent. Tata Steel Europe logged production Volume at 1.99 MT against 2.4 MT a year ago, down 17 per cent. The delivery volume stood at 1.79 MT against 1.87 MT, down 4.2 per cent.

Oil & Gas stocks / Paint / Tyre stocks: Brent crude is up around five per cent due to the Israel -Palestine War.

ACE and BEML: The commerce and industry ministry has recommended anti-dumping duty between 18.84 and 82.71 per cent of the cost, insurance, and freight (CIF) value for five years on wheel loaders imported from China.

Bank of Baroda: In its Q2 business update, the bank reported an increase in total deposits, which grew by 4.15 per cent quarter-on-quarter (QoQ) and an impressive 14.63 per cent year-on-year (YoY), reaching a total of Rs 12 lakh crore.

Prestige Estate: Realty firm Prestige Estates Projects Ltd on Friday released its operational performance update for the quarter and half year ending on September 30, 2023. The group achieved record-breaking sales of Rs 11,007.3 crore during the first half of FY24, marking a solid 69 per cent YoY increase.

Metropolis Healthcare: The company said in its Q2 update that its core business revenue was up 13 per cent YoY and operating margin increased QoQ due to operating leverage and product mix.

Liquor and sugar stocks: The Goods and Services Tax (GST) Council on Saturday decided to reduce GST on molasses to 5 per cent, from 18 per cent, and exempt alcohol for human consumption from the levy. ENA (potable alcohol) for human consumption will be exempt from GST.

BSE price band revision: 413 stocks on BSE will have a price band revision from 10 per cent to 20 per cent. Apollo Micro Systems, IRFC, Railtel, India Pesticides, Johnson Controls-Hitachi Air Condition, and Hindustan Oil Exploration are some of the names on the list.

Rail Vikas Nigam (RVNL): Received orders worth Rs 256.2 crore for five projects from MMRCL.

Biocon: Biocon partners with Canada's Juno Pharma for innovative diabetes and obesity treatments.

Puravankara: Realty firm Puravankara Ltd. confirmed on Friday that the Income Tax Department is currently conducting a search at the company's registered office and various other premises.

Sigachi Industries: The ex-date for the stock split is today.

H.G. Infra Engineering: Received orders worth Rs 997.11 crore under hybrid annuity mode (HAM).

Shakti Pumps: Order worth Rs 149.71 crore received from Ajmer Vidyut Nitaran Nigam.

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