Mid-Day Stock Watch on April 5

Hours since the markets opened today, after a careful observation of stocks' movements and analysis, we find the below mentioned five stocks worth watching during rest half of the day.

a) NTPC: NTPC’s board of directors approved two investment proposals. The company will invest in Mandsaur Solar PV Project (5x50 MW) in the state of Madhya Pradesh at an appraised estimated cost of Rs 1502.77 crore; and it will also invest into Bhadla Solar PV Project (4x65 MW) in the state of Rajasthan at an appraised estimated cost of Rs 1601.27 crore.

b) Mahindra & Mahindra: Mahindra & Mahindra launched new range of five Agri Specialist Tractors - Mahindra YUVO with Advanced Technology in the 30-45 HP range. The YUVO range comes in five models viz. 265 DI (32HP); 275 DI (35HP); 415 DI (40HP); 475 DI (42HP); and 575 DI (45HP) respectively. It will be available in 15 states and the prices will start at Rs. 4.99 lakh. The stock will be in focus for rest of the trading session.

c) Lupin: Lupin’s US subsidiary, Lupin Pharmaceuticals Inc. has launched the first product from its GAVIS pipeline, Zolpidem Sublingual Tablets, 1.75 mg & 3.5 mg. The launched product is generic equivalent of Purdue Pharma L.P’s Intermezzo Sublingual Tablets, 1.75 mg & 3.5 mg, having received final approval from the United States Food & Drug Administration (FDA).

d) Snowman Logistics: Snowman Logistics declared that construction of the Jaipur warehouse has been completed. The company’s newly constructed warehouse is now ready for operations with a capacity of 4200 pallets, thereby taking the total capacity of the company to 98,500 pallets. It will be in focus throughout the day.

e) SBI/HDFC Bank/ICICI Bank: The banking stocks will be in focus for the rest of the day. The Reserve Bank of India (RBI) eased monetary policy by 25 basis points. After RBI’s first bimonthly monetary policy for fiscal year 2017, the Bank Nifty declined by around 2.21 per cent on an intraday basis.