Overnight Digest: Stocks to keep an eye on September 2

At market close on Thursday, the markets plunged, owing to weak market cues, globally. Sensex settled at 58,766.59, dropping 770.48 points or 1.29 per cent while Nifty 50 closed at 17,542.80, down by 216.50 points or 1.22 per cent.

In Nifty Midcap 100 Group, the stocks of Ashok Leyland, Bharat Electronics, TVS Motor Company, Coromandel International, Bank of Baroda, Federal Bank, and Escorts Kubota hit their 52-week high prices today.

Keep a watch on these stocks for Friday's trading session –

TVS Motor Company: The sales of 3,33,787 units, up from 2,90,694 units in August 2021, represented a 15 per cent increase in the total sales for the two-wheeler manufacturer. In August 2022, 3,15,539 two-wheeler were sold overall, a 15 per cent increase from 2,74,313 units sold in August 2021. The domestic two-wheeler sales increased 33 per cent from 1,79,999 units sold in August 2021 to 2,39,325 units in August 2022. From 1,33,789 units in August 2021 to 1,57,118 units in August 2022, motorcycle sales increased 17 per cent. The company's scooter sales increased 40 per cent year-over-year from 87,059 units sold in August 2021 to 1,21,866 units sold in August 2022. The company is confident about the demand in the domestic two-wheeler sector given the upbeat market environment and the impending holiday season. The shares of TVS Motor Company made a fresh 52-week high on BSE today at Rs 1,028.75 per share.

Coal India Limited: With a total supply of 243.3 million tonnes (MT), Coal India Ltd (CIL) exceeded its annual action plan (AAP) target of 225.4 MT, which had been in place since August of FY23. Supplies exceeded the goal by over 18 MTs. Additionally, the company exceeded its AAP objective of 276 MTs for overall off-take, attaining 102.5 per cent satisfaction. During the reference period, the total supply increased significantly to 283 MTs, an increase of 7 MTs over the target. Including imported coal, coal storage at power plants was close to 30 MT as of August 22 (till August 29). This lowered fears about a coal shortage. This is significantly more than the 12.8 MTs in August 2021 when the stock fell by 11.2 MTs in a single month. The shares of CIL made a fresh 52-week high at Rs 236.75 a piece on BSE today.

Escorts Kubota Limited: As compared to the 5,693 tractors sold in August 2021, the company’s Agri Machinery segment sold 6,111 tractors in August 2022, a 7.3 per cent increase. Compared to 4,920 tractors sold in August 2021, domestic tractor sales increased 7.9 per cent to 5,308 tractors in August 2022. Some regions of the nation had significant rainfall this month, which had an impact on ground activations and the overall movement. This year's early festival season should result in a better September and, most likely, a three-month extended peak selling season. The general macroeconomic environment and farmer sentiment are still favourable. In August 2022, 803 tractors were sold as exports, an increase of 3.9 per cent over 773 tractors sold in the same month of the previous year. The scrip traded at its 52-week high price of Rs 2,042.35 per share on BSE today.