Key Stocks As Nifty Opens Lower: Suzlon Energy, Coal India, Mcleod Russel & More

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Key Stocks As Nifty Opens Lower: Suzlon Energy, Coal India, Mcleod Russel & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The domestic market opened the new week lower, tracking weak cues from Asian markets, while oil prices surged almost 3.5% on Monday following reports of the OPEC+ to consider supply cuts at an upcoming meeting in the week after plummeting 11.2% in September.

At 9:37 am, Nifty50 traded 0.62% lower and Sensex declined 0.7% or 394 points. Nifty Bank tanked 0.82%.

Here are some stocks in focus on Monday.

Suzlon Energy (NS: SUZL ): The renewable energy company’s founder, chairman and MD Tulsi Tanti passed away on Saturday evening due to cardiac arrest. He was known as India’s ‘wind man’.

Coal India (NS: COAL ): The Maharatna PSU’s output surged 19.7% YoY in H1 FY23, producing 299 million tonnes, already achieving 43% of the financial year’s target of 700 MT production. Its coal off-take in the Apr-Sept 2022 period exceeded the target, depicting a 101.7% satisfaction.

APL Apollo Tubes (NS: APLA ): The structural steel tubes manufacturer’s quarterly sales volume surged 41% YoY to 6.02 lakh tonnes in Q2, marking its highest quarterly sales. In H1FY23, the figure jumped 28% YoY to 10.25 lakh tonnes.

Spandana Sphoorty (NS: SPAD ): The micro-finance company has been removed from Crisil’s 'watch with developing implications' radar and has been reaffirmed an ‘A’ rating with a stable outlook for bank loan facilities worth Rs 3,500 crore.

HFCL (NS: HFCL ): The telecom company has launched the 5G Lab-as-a-Service to provide 5G solutions and services to the government and private sectors and offer an automated test environment. 

McLeod Russel India (NS: MCLE ): The tea company expects banks to support its debt restructuring plan, which is currently looking out for clearances from credit rating agencies.

63 Moons Technologies (NS: 63MO ): The financial company will provide software support services to Multi Commodity Exchange of India (NS: MCEI ) (MCX) for three months, starting October, 2022.

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