Maruti Suzuki, Paras Defence, TCS, RIL, ONGC, Sterling and Wilson, Bank of India stocks in focus

Chartists say a small negative candle was formed on the daily chart beside the small positive candle of Wednesday

Nifty futures plunged 160.15 points or 0.91 per cent to 17,451 on Singaporean Exchange, hinting at a heavy sell-off in BSE Sensex and Nifty 50. Chartists say a small negative candle was formed on the daily chart beside the small positive candle of Wednesday. This pattern signal that the consolidation movement or weakness could extend for next session. The market continued with choppy movement, but the broad market showed a resilience. “Having moved below the immediate support of 17650 levels, there is a possibility of Nifty sliding down to the next support of 17475 levels amidst a range bound action in the next 1-2 sessions. There is a higher possibility of an emergence of buying interest from the lower levels. Immediate resistance is placed at 17750,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

Maruti Suzuki: Owing to a supply constraint of electronic components due to the semiconductor shortage situation, Maruti Suzuki is expecting an adverse impact on vehicle production in the month of October’21 in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Private Limited (SMG) in Gujarat. Though the situation is quite dynamic, it is currently estimated that the total vehicle production volume across both locations could be around 60% of normal production.

Paras Defence and Space Technologies: Paras Defence and Space Technologies equity shares are scheduled to make their stock market debut on Friday, 1 October 2021. The issue got 304.26 times subscription during September 21-23.

TCS: Tata Consultancy Services said that its board will announce the financial results for the quarter ending 30 September 2021 on 8 October. Along with that, the board may also declare its second interim dividend.

Sterling and Wilson Solar: The promoters of Sterling and Wilson Solar (SWSL), a Shapoorji Pallonji Group (SP Group) company, have repaid outstanding loans of Rs 740 crore ahead of Thursday’s deadline. The promoters — Shapoorji Pallonji and Company and Khurshed Daruvala — have made the repayment of debt along with interest accrued till date.

RIL, ONGC: The Union government has raised the price of domestically produced gas by 62% to $2.90 per million British thermal units (mmBtu) as lower production amid higher demand increased North American and European gas prices. The new prices will be effective for six months starting October 1.

Bank of India: State-owned Bank of India on Thursday said it has raised Rs 1,800 crore by issuing Basel-III-compliant bonds. The bank raised Rs 1,800-crore Basel-III-compliant tier-II bonds on September 29 on a private placement basis, it said in a statement