Top 10 stocks to watch on December 6, 2023: Bank of India, SBI, Ion Exchange, PowerGrid, Adani Ports and more
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Share market outlook
"Market scaled fresh record highs as investors continue to bet big on India growth story. Nifty has support at 20,647-20,407 levels and resistance may be found around the 21,001-21,331 zone," said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Top stocks to watch on December 6, 2023
On the stock-specific front, Bank of India, SBI, Ion Exchange, PowerGrid, Adani Ports, ASK Automotive and some other counters will be in focus today.
SBI
Shares of State Bank of India (SBI) rose 2.31% to close at Rs 608.40 in the previous trading session. "The Executive Committee of the Central Board (ECCB) of the bank has accorded final approval for acquiring 20% stake held by SBICAPS in SBIPFPL by SBI," the lender stated in a BSE filing.
Ion Exchange
Shares of Ion Exchange (India) gained 3.56% to close at Rs 579.20. "The International Chamber of Commerce (ICC) tribunal has rejected Ethingen Inc's claim for damages against the company and has also refuted all other claims and requests of the parties," Ion stated in an exchange filing. Ethigen had filed an arbitration claim of $1,80,00,000 (Rs 149.56 crore) for damages against the company at the ICC alleging the wrongful termination and breach of terms of the agreement by Ion Exchange.
PowerGrid
Power Grid Corporation of India shares jumped 4.46% to close at Rs 222.40. PowerGrid has emerged as a successful bidder for setting up an inter-state transmission system project in Gujarat.
Uday Jewellery
Shares of Uday Jewellery Industries surged 9.91% to settle at Rs 204.60. The company issued a clarification to the exchanges over the sudden jump in stock price. "The price of gold in the market have given a positive sign for all jewellery industry players which has helped to drive up the share price," it stated.
Paul Merchants
Shares of Paul Merchants moved 2% to higher to close at Rs 3,334.55. The company has revised the record date for allotment of bonus shares from December 18 to December 19.
Bank of India
Shares of Bank of India (BoI) rose 0.87% to settle at Rs 110.15. The state-run lender launched a qualified institutional placement (QIP), set at a floor price of Rs 105.42 per equity share. This is BoI's first QIP since 2021.
ASK Automotive
Shares of ASK Automotive fell 1.18% to close at Rs 285.80. The Centre presented 'SAMAR' certificate to the company at DRDO Quality Conclave. SAMAR is a collaborative initiative of QCI and DRDO to enhance the defence manufacturing ecosystem in the country.
Dalmia Bharat
Shares of Dalmia Bharat settled with 1.85% gains at Rs 2,350.05. The company has appointed Puneet Yadu Dalmia as managing director and CEO and Mahendra Singhi as strategic advisor to the MD & CEO.
Adani Ports
Shares of Adani Ports and Special Economic Zone Ltd rallied 15.15% to close at Rs 1,011.85. Exchanges have sought clarification from Adani Ports on the share price movement.
K&R Rail Engineering
Shares of K&R Rail Engineering edged 0.39% lower to settle at Rs 732.60. Aijaz Investments and Estates Pvt Ltd (AIEPL) would cease to be a promoter group company and would be categorised in the public category, K&R Rail said.
Disclaimer
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.