Business

Stocks to watch: Tarson Products, Reliance Industries, Secret View, Indian Oil

Trends on SGX Nifty indicated a lower opening for the domestic markets.

New Delhi: Domestic stock markets are likely to trade in negative territory on Friday amid cues from global markets. Among Asian stocks, Japan’s Nikkei fell 2.07 per cent, South Korea’s KOSPI 0.43 per cent and the Shanghai Composite Index dropped 0.41 per cent. SGX Nifty trends also indicated a lower opening for the domestic markets. Nifty futures also known as SGX Nifty futures on the Singapore Exchange fell 0.64 per cent or 112.75 points to 17,455.50.

The benchmark BSE Sensex had closed 454.10 points or 0.78 per cent higher at 58,795.09 on Thursday; While the broader NSE Nifty was up 121.20 points or 0.70 per cent at 17,536.25.

Here are the stocks to watch during today’s session:

Tarson Products: Shares of Indian Labware Company will be listed on the stock exchange today. The Initial Public Offer (IPO) of Tarson Products was subscribed 77.49 times last week, mainly buoyed by the lot of interest shown by retail investors.

Reliance Industries: RIL and Saudi Aramco have scrapped a deal for the kingdom oil giant to buy a stake in the group’s oil-to-chemicals business, news agency Reuters reported, citing sources. RIL’s stock had surged over 5 per cent on Thursday after its board decided to implement a plan of arrangement to transfer the gasification undertaking to a wholly owned subsidiary.

Indian Oil: The state-owned oil marketing company has paid Rs 2,424 crore as dividend installment to the government. So far in the current financial year, the Center has received Rs 20,222 crore as dividend from several state-owned entities.

Incognito View Analytics: Shares of the data analytics company jumped for the third consecutive session on Thursday and crossed the Rs 700 mark for the first time since listing. Holders of Latent View shares purchased during the Initial Public Offering (IPO) have made more than 3 times the profit from the issue price of Rs 197 per share.

Also, aviation stocks will be in focus as Saudi Arabia has announced that it will lift travel restrictions for India and five other countries from December 1 this year.

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