Kotak Mahindra, Coal India, BEL Among 5 Stocks To Watch Today

The key benchmark indices BSE Sensex and NSE Nifty are likely to begin the trade on Monday with gains amid strong global cues. Asian markets were trading higher on Monday ahead key data from Australia and China. The Reserve Bank of Australia is set to release its rate decision on September 5 and China is scheduled to issue its trade balance for August on Thursday and inflation rate next weekend. Below are few stocks that may witness some action as the market opens today:

Kotak Mahindra Bank Ltd: Uday Kotak resigned as Managing Director & CEO of Kotak Mahindra Bank effective from September 1 and became a Non-Executive Director of the bank. Kotak Mahindra Bank shares are likely to witness some action today. Uday Kotak's tenure as CEO and MD of the bank will end on December 31, 2023. As an interim arrangement, Dipak Gupta, the joint managing director, is scheduled to perform the duties of the MD and CEO until December 31, subject to the approval of the RBI and the members of the bank.

Bharat Electronics: BEL is in pact with Israel Aerospace Industries in order to collaborate on short range air defense systems. Bharat Electronics shares hit 52-week high on September 1, 2023. BEL shares soared 8% in last 2-weeks only on BSE. Last trading price of BEL stock is Rs 137.75 per share on BSE.

Paytm: Antfin's shareholding in the company has come down from 23.79% to 9.90%. According to the BSE filing of One 97 Communications Ltd dated September 3, 2023, "We have been informed by Antfin, that their shareholding in the Company has reduced from 23.79% to 9.90% of the total equity share capital. Accordingly, no person affiliated

Oil and Natural Gas Corporation Ltd: Board of ONGC approved capital restructuring of ONGC Petro additions (OPAL) including buyback of convertible debentures of Rs 7,778 crore by ONGC and an investment of Rs 7,000 crore in equity/quasi-equity security of OPaL. Last trading price of ONGC share is Rs 181.65 per share with intraday gain of 4.25% on BSE as on September 1, 2023. It hit 52-week high also on Friday.

Coal India: Its production surged 13.2% year-on-year to 52.3 million tonnes in August 2023. Comparative production for the month rallied ahead by 6.1 MTs. Total coal supplies to all consuming sectors soared by 15.3% to 59 MTs in August 2023. Supplies were higher nearly 8 MTs in a single month. The stock witnessed spurt in volume by 3.69 times on Friday. Coal India shares rallied 2.93% on September 1 to Rs 236.85 per share.