Diwali Stock Market Outlook: Key Stocks Like Tata Investment Corporation and Welcure Drugs to Watch

The upcoming Diwali, celebrated on Amavasya Tithi from October 20 at 3:44 PM to October 21 at 5:54 PM, brings optimism to the stock market. Investors are closely monitoring several stocks for potential valuation changes and increased liquidity. This article focuses on seven major stocks, including Tata Investment Corporation and Welcure Drugs, which are drawing attention due to corporate actions like stock splits and bonus share offerings.

Welcure Drugs & Pharmaceuticals has announced a bonus issue of 1:10 and a stock split from Rs.10/- to Rs.1/-. This means one equity share of face value Rs. 10/- will be split into ten shares of face value Rs. 1/- each. The record date is set for October 16, with the ex-date also on October 16. A R Ramachandran noted, "Welcure Drugs stock price is bullish on the Daily charts with strong support at 6.64. A Daily close above resistance of 7.78 could lead to a target of 9.77 in the near term."

Globe International Carriers is undergoing a sub-division of each equity share from Rs.10/- to Rs.5/-, along with a bonus issue in a 1:1 ratio. The record date is October 15, with the ex-date on the same day. A R Ramachandran commented, "Globe International stock price is bullish but also overbought on the Daily charts with next resistance at 193. Investors should be booking profits as a Daily close below support of 170 could lead to a target of 155 in the near term."

Tata Investment Corporation is implementing a stock split from Rs.10/- to Rs.1/-. The record and ex-date are both on October 14. Riyank Arora stated, "Tata Investment continues its strong uptrend, sustaining above key moving averages with higher highs and firm volumes. The RSI indicates steady bullish momentum, while MACD remains in positive territory, confirming trend strength. The stock shows accumulation near ₹8800-₹9000, offering a healthy risk-reward. Momentum traders can maintain a buy-on-dips strategy with a stop loss at ₹8700 and targets of ₹9400-₹9600."

Sunrakshakk Industries India plans a stock split from Rs.10/- to Rs.2/-. The record date is October 17, with the ex-date also on October 17. A R Ramachandran mentioned, "SUNRKSHakk Industries stock price is bearish & also overbought on the Daily charts with strong resistance at 1369. Investors should be booking profits as a Daily close below support of 1229 could lead to a target of 1029 in the near term."

A B Infrabuild will execute a stock split from Rs.10/- to Rs.1/-. Both the record and ex-date are set for October 17. A R Ramachandran observed, "AB InfraBuild stock price is bearish on the Daily charts with strong resistance at 207. A Daily close below support of 195 could lead to a target of 180 in the near term."

Gokul Agro Resources plans to split its shares from Rs.2/- to Rs.1/-. The record and ex-date are both on October 14. A R Ramachandran commented, "Gokul Agro stock price is bearish on the Daily charts with strong resistance at 388. A Daily close below support of 360 could lead to a target of 321 in the near term."

Market Outlook

Rolex Rings will undergo a stock split from Rs.10/- to Rs.1/-. The record date is October 17, with the ex-date also on October 17. A R Ramachandran noted, "Rolex Rings stock price is slightly bullish on the Daily charts with strong support at 1308. A Daily close above resistance of 1358 could lead to a target of 1450 in the near term."

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