MARKET FATAFAT: Stocks to keep on your radar

Mumbai: Market Fatafat is designed for viewers to know what stocks are buzzing in trade today. We take up a handful of stocks that are showing sharp movements and discuss why they are the newsmakers for today.

Let's talk about a few stocks that were in focus today and the ones you should be keeping on your radar.

1. VARROC ENGINEERING:

This stock was one of the biggest losers in trade today, down about 7% in trade. This comes on the back of news flows surrounding the company, the major one being that the company has amended its agreement to sell its lighting business which was announced in April 2022. Now, instead of the pre-decided 600 million euros, Varroc will only receive 520 million euros. Additionally, Varroc has entered into a settlement agreement with Valeo Vision towards out of court settlement of IPR infringement litigation. Varroc will pay 51.1 million euros to Valeo. Varroc marks its biggest single day decline since May 4, and is trading below all key DMA levels.

2. TITAN:

The stock is buzzing in trade today on its Q2 operational update. The company witnessed healthy double-digit growth across most businesses, with overall sales clocking in at ~18% YoY. Titan also added 105 stores pan-India in this quarter.

3. RATTANINDIA ENTERPRISES:

A solid buzzer in trade today, this stock saw an uptick of about 8.5%. This surge was based on the news flow that the company is going to acquire 100% stake in Revolt Motors.

4.KALYAN JEWELLERS:

The stock was surging in trade today, up about 4.5% due to robust momentum in footfalls and revenues across all markets. The company clocked in consolidated revenue growth of approximately 20% in Q2, while its Middle Eastern customer sentiments continued to remain buoyant.

5.HERO MOTOCORP:

Hero Moto was a newsmaker today as it launched its first ever electric scooter, Vida. This news flow was taken positively by the markets as the EV sector is a booming space right now, and the stock sat comfortably in the green today.

6. EQUITAS SMALL FINANCE BANK:

This microfinance lender made the buzz today and was surging high in trade on the back of its strong Q2 numbers, with both deposits and advances up by 20% YoY.

7. NYKAA:

This stock was a newsmaker today as it entered into a strategic alliance with Middle East based Apparel Group to recreate Omnichannel Beauty Retail Platform in the Gulf area. The company will undertake multi-branded retail in the Gulf.

8. DIXON TECH:

Dixon was a stock that was tanking in trade, in tandem with the benchmark indices. The stock took an approximate hit of 3% in trade today on the news that Xiaomi may shift its operations from India to Pakistan. Although Xiaomi has stated that this news is false and baseless, Dixon tech, which manufactures TV sets for Xiaomi was down in trade today.

9. TATA CHEMICALS:

Morgan Stanley upgraded Tata Chemicals to an overweight, with a target of Rs. 1,319 per share. The brokerage house holds a favorable view on the soda ash markets, and believes that Tata Chemicals demonstrated very strong cost efficiencies in Q1.

10. MARUTI:

Another stock that was buzzing in trade today on the back of a brokerage note was Maruti. Goldman Sachs has initiated coverage on the stock with a Buy, and has set a target of Rs. 10,500 per share. Maruti has multiple SUVs in the launch pipeline over next 18 months.