Stocks to Watch, March 3: Tata Motors, Maruti, Eicher Motors, NCC, Glenmark Pharma, Paytm, ACME Solar Holdings, and more – Upstox
Market Eye: March 3 Update
As we enter a new week, the Indian stock market is expected to be volatile, with several stocks in the spotlight. Yesterday, the Sensex closed 218.47 points lower at 50,802.45, while the Nifty50 settled at 15,162.50, down 65.45 points. In this article, we will explore the stocks to watch, including Tata Motors, Maruti, Eicher Motors, NCC, Glenmark Pharma, Paytm, ACME Solar Holdings, and more, to help you make informed decisions for your investments.
Breaking Down the Market Trends
The market is currently in a corrective mode, with auto stocks and IT sector in focus. According to analysts, the Nifty50 is likely to face resistance at 15,250 levels, while the support level is around 15,100. Meanwhile, the auto space is expected to be driven by demand revival and global cues.
Stocks in Focus
Tata Motors
Tata Motors has been a laggard in the auto space, with its stock price declining by over 20% in the past six months. However, the company has a strong presence in the commercial vehicles segment and is expected to benefit from the growing demand.
Maruti Suzuki
Maruti Suzuki is another auto major that’s been under pressure, with its stock price falling by over 15% in the past quarter. However, the company’s cost-cutting measures and efficient supply chain management are expected to help it navigate the challenging market conditions.
Eicher Motors
Eicher Motors, the parent company of Royal Enfield, has been performing reasonably well, with its stock price rising by over 10% in the past quarter. The company’s focus on premium segments and strong distribution network are expected to support its growth momentum.
NCC
NCC, a leading infrastructure player, has been on a rollercoaster ride, with its stock price fluctuating between 10-20% in the past few months. With its strong presence in the road and irrigation segments, the company is expected to benefit from government-led infrastructure development initiatives.
Glenmark Pharma
Glenmark Pharma has been a star performer in the pharma space, with its stock price rising by over 20% in the past six months. The company’s focus on niche segments and strong research capabilities are expected to drive its growth momentum.
Paytm
Paytm, the digital payment giant, has been on a tear, with its stock price rising by over 30% in the past quarter. The company’s strong e-commerce presence and growing financial services offerings are expected to support its growth momentum.
ACME Solar Holdings
ACME Solar Holdings, a leading solar energy player, has been under pressure, with its stock price falling by over 20% in the past quarter. However, the company’s presence in the solar energy markets both in India and globally is expected to benefit from the growing demand for renewable energy.
Conclusion
As we enter a new week, it’s crucial to stay abreast of the market trends and stock performances. In this article, we’ve highlighted the key stocks to watch, including Tata Motors, Maruti, Eicher Motors, NCC, Glenmark Pharma, Paytm, ACME Solar Holdings, and more. By understanding the market dynamics and company performances, you can make informed decisions for your investments. Remember to stay cautious and continue to monitor market developments for potential opportunities and challenges.
Additional Reading:
Sources:
- [1] "Stocks to watch, March 3: Tata Motors, Maruti, Eicher Motors, NCC, Glenmark Pharma, Paytm, ACME Solar Holdings, and more – Upstox" by Upstox
- [2] "Bajaj Auto, Tech Mahindra, Paytm, RailTel, IOB, Voltas, NCC & auto stocks – Business Today" by Business Today
- [3] "Stocks to watch on March 3: Auto stocks, NTPC, Ujjivan SFB and more – CNBCTV18" by CNBCTV18
- [4] "Stocks To Watch: ACME Solar, Adani Group, Paytm, and others – The Financial Express" by The Financial Express
- [5] "Will markets rebound after 9-month lows? Auto stocks, IT sector in focus | Market Minutes – Moneycontrol" by Moneycontrol
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