Top stocks to watch on October 10, 2023: Avantel, Suzlon Energy, TCI, Ashok Leyland, Jonjua Overseas & others
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Vinod Nair, Head of Research at Geojit Financial Services said, "An unforeseen escalation in the Middle East has rekindled pessimism in global markets. Moreover, the rapid surge in oil prices presents a significant threat to the global market, which is already dealing with elevated inflation and interest rates. In the mid-and small-cap segments, we observe consolidation as investors reshuffle their portfolios due to premium valuations in this space. While consensus estimates for Q2FY24 remain positive, it's important to note that geopolitical tensions could potentially disrupt this optimistic outlook."
Share market outlook
On the stock-specific front, Avantel, TCI, Glenmark Lifesciences, Ashok Leyland and Suzlon Energy among others will be in focus today
Top stocks to watch on
October 10, 2023
The company's stock will trade ex-split in the ratio of 10:1 on Tuesday. The pharmaceutical firm has also fixed October 10 as the record date for the purpose of stock split. Themis Medicare announced this decision on May 13, 2023. The stock ended 2.01% lower at Rs 1849.80 in the last session
Themis Medicare
Shares of Avantel ended 0.04% lower at Rs 271.75 on Monday. The stock is in focus today as the firm announced its earnings for the quarter ended September 2023 on October 9
Avantel
Shares of Transport Corporation of India are in news today after the firm allotted 33,015 equity shares under ESOP-2017-fourth & fifth tranche on October 9, 2023. Subsequently, the paid-up share capital stands increased from 77,637,910 equity shares to 77,670,925 equity shares of face value of Rs. 2/- each
TCI
Shares of Glenmark Lifesciences are in news today after board of the firm declared an interim equity dividend for the financial year 2023-24 of Rs 22.50/- per equity share of Rs. 2 each. The record date for the said interim dividend shall be Tuesday, October 17, 2023. The interim dividend will be paid to such shareholders on or after October 23, 2023
Glenmark Lifesciences
Shares of Ashok Leyland are in news today as 6.25 million shares changed hands in two bunch of trades in the previous session, said reports. Details of the buyers and sellers were not known. The stock ended 0.20% lower at Rs 171.50 on October 9
Ashok Leyland
Shares of Jonjua Overseas are in focus as they will trade ex-bonus from today’s session. The company announced a bonus issue in the proportion of 9:50, which means for every 50 shares investors hold, they will be credited 9 additional shares. The record date for the bonus issue is also October 10
Jonjua Overseas
Shares of Suzlon Energy fell for the second straight session on Monday after the stock hit a 52 week high of Rs 29.82 on October 6, 2023. The renewable energy stock ended at the low point of the day, down 4.98% at Rs 27.69 on October 9
Suzlon Energy
"In the Nifty index, the range of 19,500-19,480 is now a crucial level, and a breach below this range could indicate bearish sentiment, with potential support levels at 19,400 and 19,350. Looking at the daily chart of the Bank Nifty, it appears to have formed a double top pattern and is currently trading near support levels. If the price breaks below the support level at 43,800, it may signal a bearish trend, with possible lower targets at 42,000 and 41,400 in the short term," said Mandar Bhojane, Equity Research Analyst at Choice Broking
Nifty outlook
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