Stocks To Watch: IRCTC, TVS Motor, Coal India, HCL Tech In Focus Today
Domestic stock markets are likely to start the last session of the week on a positive note, a day after the S&P BSE Sensex index halted a five-day rally that pushed it past the 46,000 mark for the first time ever. The Singapore Exchange (SGX) Nifty futures — an early indicator of the National Stock Exchange's Nifty 50 benchmark — rose 35.75 points, or 0.26 per cent, to touch 13,571.50 at the strongest level recorded ahead of the opening of Indian markets. Analysts awaited macroeconomic data for near-term cues. The markets have been riding on hopes of a fast recovery from the coronavirus-caused slowdown and also on foreign fund inflows. At  8:33 am, the SGX Nifty futures traded 12.45 points, or 0.09 per cent, higher at 13,534.20. (Catch Latest Updates Here)
Asian markets moved lower as concerns about US stimulus and climbing COVID-19 cases weighed globally on optimism. MSCI's broadest index of Asia Pacific shares outside Japan was down 0.26 per cent at the last count. Japan's Nikkei 225 benchmark traded 0.54 per cent lower. Â
Overnight in the US, the Dow Jones Industrial Average fell 0.23 per cent and the S&P 500 lost 0.13 per cent, but the technology stocks-heavy Nasdaq Composite added 0.54 per cent.
Here are some stocks to watch in Friday's (December 11) session:
IRCTC
The government is selling an up to 20 per cent stake in IRCTC. Retail investors will be allowed to bid on Friday. A floor price of Rs 1,367 per share has been set for the offer. The government currently holds a 87.4 per cent stake in the Rs 2,275-crore public sector railway undertaking, which was listed on the bourses last year.
TVS Motor
Members of the TVS family agreed on Thursday to subscribe to the terms of a memorandum of family arrangement, TVS Motor Company said in a regulatory filing on Thursday. TVS Motor Company is part of the TVS Group, which essentially consists of businesses started by the original founder TV Sundaram Iyengar and his lineal descendants constituting the TVS family.
Senior nominated members of the TVS family will deliberate on how best to further implement this arrangement, the company said. This arrangement will not affect the management and functioning of the company in any way, TVS Motor said.Â
HCL Tech
HCL Technologies on Thursday announced its entry into Vietnam. In a regulatory filing, HCL Tech said it aims at boosting employment, providing resources and skilling local talent to serve its global clients.
HCL began its business operations in Vietnam in July 2020, with a goal to hire more than 3,000 local university graduates and experienced professionals over the next three years. A key part of HCL's business and development strategy in Vietnam will be to provide the right skilling and platforms to train graduates for career opportunities in hi-tech domains and provide them with the requisite exposure of working on global assignments, it said.
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