New Delhi, May 23: Investors looking for stocks to buy or sell on May 23 should keep an eye on UltraTech Cement (NSE: ULTRACEMCO), Jio Financial (NSE: JIOFIN), RBL Bank (NSE: RBLBANK) as key corporate developments may influence market sentiment. This comes as The Nifty 50 erased all of its previous day’s gains and shed 0.8 percent on May 22, with above-average volumes. The index continued its lower-high formation for the fifth consecutive session. However, it managed to defend the crucial 24,450–24,500 zone on a closing basis, thanks to buying interest at lower levels.

This zone remains pivotal, as a breakdown could push the index further down toward 24,350, while holding above this level may open the path for a rebound towards the 24,800–24,900 range, according to experts. Now as we enter last day of the week, below are the stocks to buy or seel on Friday, May 23. Indian Stock Market: Nifty Ends at 24,609, Sensex Falls by 644 Points at Closing Bells Due to Weak Global Cues.

UltraTech Cement (NSE: ULTRACEMCO): The Aditya Birla Group’s flagship company has approved the acquisition of 100% equity in Wonder WallCare for an enterprise value of up to INR 235 crore. The transaction is expected to close within 90 days, subject to regulatory approvals. This move strengthens UltraTech’s presence in the wall care segment, making it a stock to watch. BEL Share Price Today, May 22: Stocks of Bharat Electronics Limited Plunge by 0.25% in Early Trade, Check Latest Price on NSE.

Jio Financial (NSE: JIOFIN): The company, along with BlackRock, has infused INR 66.5 crore into their joint venture, Jio BlackRock Investment Advisers. With total capital now at INR 84.5 crore, the venture is well-funded for expansion, keeping Jio Financial in focus for investors.

Nestlé India (NSE: NestleIND): The company has begun constructing its tenth factory in Khordha, Odisha, marking its first manufacturing unit in Eastern India. With an initial investment of INR 900 crore, this aligns with its expansion strategy under “Make in India.” The stock may attract positive interest.

Fortis Healthcare (NSE: Fortis) : The company’s subsidiary, International Hospital Limited, has received an income tax demand of INR 76.19 crore for AY 2019-20. Though Fortis states this won’t impact operations, legal challenges could create stock volatility.

RBL Bank (NSE: RBLBANK) : The bank posted a 7% YoY increase in total deposits, reaching INR 1.10 lakh crore. However, the CASA ratio dipped slightly. Investors should monitor its financial stability and growth trajectory.

With these updates, these stocks could see movement in today’s trading session.

(Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.)

(The above story first appeared on LatestLY on May 23, 2025 08:00 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).