Stocks to Watch on 22 Oct 2019

For the stock market trading session on 22 October 2019, major support level of Nifty is expected to be in the range of 11,550 to 11,439 whereas major resistance level is expected to be in the range of 11,710 to 11,775. Considering the prevailing condition of the market, here are top stocks to watch for 22 October 2019

Yes Bank Limited:

Last week share prices of Yes Bank Limited (YESBANK) jumped over 30 percent and closed at 51.40 with overall gain of 29.80 percent. Stock traded positive for the fifth consecutive session after media reports suggesting that Sunil Mittal and Sunil Munjal have expressed interest in acquiring a stake in it. However, the bank denied any such development and refused to comment.

PNB Housing Finance Limited:

On 18 October 2019 share prices of PNB Housing Finance Limited (PNBHOUSING) jumped over 17 percent intraday. In past two trading sessions stock has rallied over 26 percent from lower level ahead of the company planning to raise Rs 10,000 crore through secured and unsecured non-convertible debentures. Company's board will meet on 24 October 2019 to consider the fund-raising and to approve/record the financial results for the quarter.

Bajaj Finance Limited:

Board Meeting scheduled to be held on 22 October 2019 regarding revision in the limits approved for ECBs for an aggregate amount up to USD 750 million. Last week share prices of Bajaj Finance Limited (BAJFINANCE) traded up over 4 percent to hit its all-time high of 4199 on Friday.

Bajaj Holdings & Investment Limited:

As on 18 October 2019 shares price of Bajaj Holdings & Investment Limited (BAJAJHLDNG) gained 1.53 percent intraday. The stock has traded positive for the fifth consecutive session on Friday and closed at 3742.50 with overall gain of 6.2 percent on last week.

TVS Motor Company Limited:

Last week share price of TVS Motor Company Limited (TVSMOTOR) jumped over 15 percent after it reported a 20 percent jump in its second quarter of FY20 standalone net profit.

Bharat Heavy Electricals Limited:

Share price of Bharat Heavy Electricals Limited (BHEL) jumped more than 37 percent in past two trading session after a media reports which said that government may consider bringing down its stake in state-owned BHEL and National Mineral Development Corporation (NMDC).

SBI Life Insurance Company Limited:

As on 18 October 2019 share prices of SBI Life Insurance Company Limited (SBILIFE) jumped over 2 percent intraday to hit all time high of 930 and closed near to it.  Stock traded positive for the fourth consecutive session on Friday and closed at 925.95 with overall gain of 10.29 percent in last week.

Avenue Supermarts Limited:

As on 18 October 2019 share prices of Avenue Supermarts Limited (DMART) opened on flat note and traded sideways throughout the day after it formed its all-time high of 1964.90 and closed at 1924.85 with overall gain of 4.43 percent on weekly basis.

DLF Limited:

Last week share prices of DLF Limited (DLF) rallied over 16 percent as its new housing project that was launched in Gurugram, sold 376 flats worth Rs 700 crore on the first day, even after the demand slowdown in overall property market. The stock has rallied for consecutive sixth trading session on Friday and closed at 168.85 with overall gain of 3.05 percent on daily basis.

Piramal Enterprises Limited:

After negative closing for four consecutive weeks Piramal Enterprises Limited (PEL) rebound from its three-year low. In past two trading sessions it recovered more than 12 percent. On Friday, it closed at 1556.85 with overall gain of 14.05 percent on weekly basis.

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