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Stocks in focus: Defence, PSU, Railway and Auto stocks to remain in focus

Upstox
By Upstox News Desk

2 min read | Updated on June 03, 2024, 08:49 IST

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SUMMARY

The GIFT nifty indicates a 3% jump in NIFTY at market opening on Monday after exit poll results. Stocks in the Defence, PSU, and Railway sectors will remain in focus, particularly on Monday.

Stock list

CANBK
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HAL
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IRCTC
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MARUTI
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RVNL
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SBIN
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stock-624712_1280.jpg

Defence, PSU, Railway stocks will remain in focus post exit polls result

Indian markets are set to open 3% higher as GIFT NIFTY indicates a jump of nearly 650 points after exit polls suggest a thumping majority win for the existing NDA government at the centre. 

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On the other hand, global markets are trading positively, taking cues from US markets, which closed higher on Friday after the key gauge of inflation came in lower than expected, aiding hopes for softer policy rates in the US. 

Key Stocks to Focus

Defence, PSU, and Railway stocks, including HAL, Bharat Dynamics, IRCTC, RVNL, SBI, Bank of Baroda, NMDC, IREDA, and more, will remain in focus as exit polls indicate the continuation of the current NDA-led government. 
Canara Bank will remain focused after announcing two key developments post-market hours on Friday. First, the bank will raise nearly ₹8,500 crore via different routes to aid the company's capital base. Second, the bank will also sell a 14.5% stake in Canara HSBC life insurance via IPO.
Maruti Suzuki, India's market leader in the passenger vehicles segment, recorded a 2% year-on-year (YoY) decline in total sales during May 2024. In addition, Maruti Suzuki also cut the prices of AGS variants of Swift, Baleno, and other models.
Automobile major Mahindra & Mahindra's total sales in May 2024 increased 17% year-on-year (YoY) to 71,682 units. The surge in total sales was largely driven by SUV vehicle sales, which increased by 31% YoY to 43,218 units.
Tata Motors' auto sales rose by 2.3% YoY for the month of May, as the company sold 76,766 vehicles in May 2024 compared to 74,973 vehicles in May 2023.
Coal India's production for the month of May increased by 7.5% YoY to 64.4 MT vs 59.9 MT in the previous year.
Poonawala Fincorp informed through exchange filing that it had achieved a significant milestone in the asset quality of the company. The company's total GNPA' stood below 1% and NNPA below 0.5% as of 31st May 2024.
Ahluwalia Contracts bags orders worth ₹2,157 crore from India Jewellery Park for the design, engineering, procurement, and construction of a gems and jewellery park in Mahape, Navi Mumbai.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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