Stocks to Watch: Wipro, Mazagon Dock, ITC, KPI Green, MOIL, Protean eGov, and more

Indian Stock Market: Indian equities are expected to open on a flat note on Tuesday, December 3, following a strong finish in the previous trading session. Sector-specific action is anticipated to dominate the day, with metal, mining, auto ancillaries, and construction stocks likely to remain in focus.

Asian markets opened in positive territory, tracking Wall Street’s tech-driven gains. However, China lagged as the yuan dropped to a one-year low against the dollar, reflecting concerns about its weak economy and rising tensions with the US.

Equity benchmarks rose in Japan, South Korea, and Australia. Hong Kong stocks saw fluctuations, while mainland Chinese markets edged lower. Meanwhile, US futures were flat after the S&P 500 recorded its 54th all-time high this year, and the Nasdaq 100 climbed over 1%.

The following stocks are expected to be in focus during today’s trading session:

Pricol: Automotive components maker Pricol on Monday said it will acquire Sundaram Auto Components’ injection moulding business for ₹215 crore. The company said it is making the acquisition through its wholly owned subsidiary, Pricol Precision Products Pvt Ltd.

According to a statement, this acquisition will provide Pricol with a consolidated topline addition of about ₹730 crore, in addition to Sundaram Auto Components’ (SACL) robust financial metrics.

Tobacco Stocks: The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco, and related products to 35 per cent from the present 28 per cent, an official said.

The Group of Ministers (GoM) on rate rationalisation under Bihar Deputy Chief Minister Samrat Chaudhary also decided to rationalise tax rates on apparel.

As per the decision, readymade garments costing up to ₹1,500 would attract 5 per cent GST, and those between ₹1,500 and ₹10,000 would attract 18 per cent. Garments costing above ₹10,000 would attract a 28 per cent tax.

Steel Stocks: Taking up the concerns of the domestic steel industry, the steel ministry on Monday proposed a 25 per cent safeguard duty on the import of certain steel items into the country.

The proposal came at a meeting between Union Minister of Steel H D Kumaraswamy and Commerce and Industry Minister Piyush Goyal in the national capital, PTI reported, citing sources.

Senior officials from both the ministries and executives of top steelmaking companies like SAIL, Tata Steel, JSW Steel, and AMNS India also attended the meeting, they said.

Health Insurance Stocks: Finance Minister Nirmala Sitharaman on Monday said the cost of insurance to the policyholder is expected to come down if the GST Council recommends a reduction in the GST rate on health and life insurance policies.

In a written reply in the Lok Sabha, she said the GST Council in its September 9 meeting had recommended to constitute a Group of Ministers (GoM) to holistically look into the issues pertaining to GST on life insurance and health insurance.

KPI Green Energy: The company on Monday announced securing a 300 megawatt solar project order from state-owned Coal India Ltd.

The contract for ground mounted solar plant includes operation and maintenance (O&M) services on comprehensive basis for a period of five years, the company said in an exchange filing.

Solar Industries: The company along with its subsidiary have received export orders worth ₹2039 crore for Supply of Defence Products, to be delivered over a period of 4 years.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.