Investors are waiting for the results of the assembly elections held on March 10 in five states. The exit poll results have predicted a victory for the Bharatiya Janata Party (BJP) in Uttar Pradesh and a big victory for the Aam Aadmi Party (AAP) in Punjab. Exit polls have also given the BJP a clear majority in Manipur, while predicting a tight end in Goa with the Congress in Uttarakhand.
ahead of today assembly election resultsTomorrow, Share Market increased by more than 2 percent. Against this background, BSE Sensex The index closed at 54,647 today, jumping 1,223 points or 2.3 per cent. On the NSE, the Nifty 50 closed at 16,345 with a gain of 332 points or 2 per cent. The benchmarks had hit intra-day highs of 54,894 and 16,418 respectively.
Here is a list of stocks to look for in trade today:
PNB Housing Finance
The housing finance company has approved raising funds up to Rs 2,500 crore through a rights issue.
Biocon
CRISIL has placed its ‘AA+’ rating on ‘Watch with Developing Implications’ on the company’s long-term bank facilities, following the acquisition of US-based Viatris Inc’s biosimilar assets by its subsidiary Biocon Biologics for $3.33 billion. The rating on short-term bank facilities has been reaffirmed to ‘A1+’.
Gufic Biosciences
The company forayed into the cancer immunology segment by having a research collaboration with Australia-based biotechnology company Cellvax Pty Ltd.
NTPC
The state-owned power generation company said the 660 MW Unit-3 of its subsidiary Nabinagar Power Generating Company has successfully completed the trial operation. and consequently it has been included in the installed capacity of NTPC Group. With this, the total installed capacity of Nabinagar Power Generating Company and NTPC Group has gone up to 1,980 MW and 68,567.18 MW respectively.
Arvind
The company said that its operations at the Ankur unit have fully resumed. Operation of Ankur unit was interrupted due to disconnection of Effluent Discharge connection. As a result, its revenue and EBIDTA have come down by about Rs 40 crore and Rs 10 crore respectively. The unit contributed 5 per cent to the company’s consolidated revenue and 6 per cent to the company’s consolidated EBITDA for the financial year 2011.
Bharti Airtel
The telecom operator has entered into an agreement to acquire a 9 per cent equity stake in a special purpose vehicle, Avada CleanTN Project Pvt Ltd. This SPV is formed to own and operate a captive power plant.
Stock in focus due to assembly election result 2022
Roop Bhutra – CEO, Investment Services, Anand Rathi Shares & Stock Brokers, suggests that sectoral play would be more appropriate than stocks as many companies have presence in the states. One can look at sectors that are more domestic oriented such as infra., agriculture, capital goods, construction, etc.
Echoing similar views, Nishit Master, Portfolio Manager, Axis Securities said: “Instead of specific stocks, there is a need to look at sectors where government policies have a meaningful impact on business. Thus, manufacturing companies, OMCs (ability to pass on the impact of higher crude oil price to consumers), and sin goods companies like alcohol beverage makers and cigarette makers will focus on Assembly Election Result Day.
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