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Stocks to Watch on 23 Sep 2019

23 Sep 2019

For the stock market trading session on 23 September 2019, major support level of Nifty is expected to be in the range of 11145 to 11850. Whereas major resistance level is expected to be in the range of 11382 to 11550. Considering the prevailing condition of the market, here are top stocks to watch for  23 September 2019

HDFC Bank Limited:

As on 20 September 2019 HDFC Bank Limited (HDFCBANK) gained most in past 30 months after govt cut corporate tax rate. HDFC Bank had an effective tax rate of 33.40 percent. It will reap tidy  benefit from the tax rate cut.

Bajaj Finance Limited:

As on 20 September 2019 Bajaj Finance Limited (BAJFINANCE) jumped more than 10 percent intraday after the historic move by the government, the FM announced reduction in corporate tax to 22 percent.

Tata Steel Limited

As on 19 September Tata Steel Limited (TATASTEEL) jumped more than 10 percent after govt cut corporate tax rate. Stock ended up at 368.55  with overall gain of 6.93 percent.

Lupin Limited:

On Friday share price of Lupin Limited (LUPIN) jumped to 756.30 which was 2.03 percent up as compare to previous day closing. It received approval for Levothyroxine Sodium Tablets from  USFDA.

Strides Pharma Science Limited:

As on 20 September 2019 shares of Strides Pharma Science Limited (STAR) gained more than 3 percent intraday, as board approved additional investment in Stelis Biopharma. However all its gain eroded before the closing. It closed at 360.10 with marginal gain of 0.15 on daily basis.

Unichem Laboratories Limited:

As on 20 September 2019 shares price of Unichem Laboratories Limited (UNICHEMLAB) up nearly 6 percent intraday post no observation from USFDA However it closed with overall gain of 0.15 on daily basis.

ICICI Securities Limited:

ICICI Securities Limited (ISEC) was the top gainer among  Nifty Midcap100. As on 20 September 2019 Nifty Midcap100 posted biggest gain in past 10 years. Stock closed with overall gain of 17.44 percent.

Page Industries Limited:

As on 20 September 2019 Page Industries Limited (PAGEIND) jumped more than 15 percent intraday, after announcement of cut in corporate tax by Finance Minister Nirmala Sitharaman. It closed at 22632.80 which was highest since 20 May 2019.

UltraTech Cement Limited:

Shares of UltraTech Cement Limited (ULTRACEMCO) jumped more than 10 percent intraday on 20 September 2019 after corporate tax cut.  Stock closed at 4269.65 with overall gain of 10.43 percent on daily basis. As on  20 September 2019 it closed above its 50 & 200 Days EMAs.

Maruti Suzuki India Limited:

On Friday Maruti Suzuki India Limited (MARUTI) jumped more than 10 percent intraday ahead of corporate tax cut.  As on 20 September 2019 Nifty Auto gained 9.90 percent. Shares price of Maruti Suzuki India Limited closed above its three months high.

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