Stocks to Watch – On Thursday, the share market ended on a negative note mainly dragged by Reliance Industries. The Sensex ended 323 points lower at 38,980 points while Nifty closed with a loss of 88 points at 11,516 points, making the investors rethink their investments made in different stocks.
So, here is the list of some of the stocks to watch out for a good investment in the share market.
Auto sector stocks
After the coronavirus hit the auto industry, automakers are looking towards foreign parents to boost the efficacy to decrease the vehicle prices instead of looking towards the government to decrease the taxes. This step will improve the demand chain which was disrupted by the pandemic.
During this unlocking phase, many more passengers are booking their flight tickets than three months ago. This increased air travel booking is indicating an increase in the air traffic and openness of the sector.
Happiest Minds Technology
On Thursday, Shares of the Happiest Minds Technology increased more than doubled at their debut. This indicates an increased demand for software services firms amid the ongoing pandemic. The shares started at Rs.350, a whopping premium of 110.84 percent over its issue price of Rs. 166 per share.
State Bank of India
On Thursday, the SC dismissed a petition which was filed by the State Bank of India (SBI). The bank filed the petition seeking to lift a stay on initiating personal bankruptcy proceedings against Anil Ambani.
US-based Rosen Law Firm has filed a class-action lawsuit against HDFC Bank for losses suffered by some investors because of allegedly false and misleading statements by the lender.
Telcom sector stocks
According to the Telecom Regulatory Authority of India (TRAI), the adjusted gross revenue (AGR) of the telecom sector increased nearly by 10 percent on a sequential basis during the March quarter. This may help the sector gain its momentum.