Stocks To Watch: Vodafone Idea, Axis Bank, DMart, L&T Finance, Vedanta, GE Power

Here are the stocks to watch before going into trade today.

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Axis Bank Ltd. will be in focus on Thursday after the Competition Commission approved the proposed infusion of Rs 1,612 crore in Max Life Insurance Co.

L&T Finance Holdings Ltd., Suryoday Small Finance Bank Ltd., and DMart (Avenue Supermarts Ltd.) reported quarterly business updates, while KEC International Ltd. and GE Power India Ltd. secured new orders.

India's benchmark indices ended little changed amid volatility on Wednesday, ahead of the Fed Chair's speech at the Macroeconomics and Monetary Policy Conference.

The Nifty closed 18.65 points, or 0.083%, lower at 22,434.65, and the Sensex declined 27.09 points, or 0.037%, to end at 73,876.82.

Overseas investors sold stocks worth Rs 2,213.56 crore, while domestic institutional investors remained net buyers for the 11th day and mopped up equities worth Rs 1,102.41 crore, the NSE data showed.

The Indian currency weakened by 5 paise to close at Rs 83.43 against the U.S. dollar.

Recovering sell-offs, share indices in Asia-Pacific region rose on Thursday after the Federal Reserve Chair Jerome Powell reiterated rate cuts are imminent this year.

The Nikkei 225 was trading 749.38 points or 1.90% higher at 40,201.23, and the S&P ASX 200 was up 39.00 points or 0.50% up at 7,821.50 as of 06:32 a.m.

Powell said the recent strong inflation report did not "materially" change the broader picture offered for risk assets. However, the central bank will adhere to wait and watch mode before pulling down the borrowing cost, Bloomberg reported.

The S&P 500 Index and Nasdaq Composite rose 0.11% and 0.23%, respectively, as of Wednesday. The Dow Jones Industrial Average fell by 0.11%.

Brent crude was trading 0.24% higher at $89.59 a barrel. Gold gained 0.10% at $2,302.33 an ounce.

The GIFT Nifty was trading 44 points or 0.2% higher at 22,599.00 as of 6:37 a.m.

Stocks To Watch: Vodafone Idea, Axis Bank, DMart, L&T Finance, Vedanta, GE Power
NSE Cites Broad-Based Participation For Nifty Lot Size Halving

Stocks To Watch

  • Axis Bank: Competition Commission has approved the proposed infusion of Rs 1,612 crore by company in Max Life Insurance.

  • KEC International: The company secured orders worth Rs 816 crore across various businesses.

  • L&T Finance Holdings: The company reported retail loan book at Rs 80,010 crore in the fourth quarter, up 31% YoY and retail disbursements at Rs 15,030 crore, up 33% YoY.

  • Brigade Enterprises: The company signed a joint development agreement with United Oxygen to develop a ‘Grade A’ office space with a leasable area of 3.0 lakh square feet and the project has a gross development value of around Rs 340 crore.

  • Avenue Supermart: The company’s standalone revenue from operations stood at Rs 12,393.5 crore, up 19.9% YoY for the fourth quarter. Total number of stores was 365 as on March 31.

  • Vodafone Idea: The board will meet on April 6 to consider shares issuance proposal of equity and/or convertible shares on preferential basis.

  • Vedanta: Vedanta Aluminium has expanded its alumina refining capacity to 3.5 million tonne per annum.

  • Suryoday Small Finance Bank: The company reported disbursements at Rs 2,340 crore, up 39% YoY in the fourth quarter, gross advances at Rs 8,650 crore, up 41% YoY and total deposits at Rs 7,775 crore, up 50% YoY.

  • RBL Bank: The company reported total deposits at Rs 1.03 lakh crore up 22% YoY as on March 31 and gross advances at Rs 85,640 crore, up 5% YoY.

  • GE Power: The company received orders worth Rs 774.9 crore from Jaiprakash Power.

  • Thomas Cook: The company has inaugurated a new branch in Bhuj, Gujarat to capitalise on the strong and growing demand from Gujarat.

  • Punjab and Sindh Bank: Arnab Goswamy has been appointed as Chief Financial Officer for a period of 3 years from the date of his joining.

  • Electronics Mart India: The company has commenced the commercial operations of a new Multi brand specialized store under the brand name ‘AUDIO and BEYOND’ on April 3.

  • Royal Orchid Hotels: The company’s arm signed agreement(s) with Masa Hotels for running and operating HOTEL MASA having 300 Keys, Restaurant, bar, Banquet halls and meeting rooms.

  • Gufic Biosciences: Incorporated a wholly owned subsidiary “VEIRA LIFE FZE” in Dubai for marketing, distribution, and sale of pharmaceutical products.

  • Cyient DLM: Ram Dornala ceases to be the chief operating officer of company effective today.

  • Veranda Learning Solutions: The company’s increased its stake to 51% in Tapasya Educational Institutions.

PFC Pays Record Rs 2,033 Crore In Interim Dividend To Government

IPO Offering

  • Bharti Hexacom: The public issue was subscribed to 0.34 times on day 1. The bids were led by institutional investors (0.29 times), non-institutional investors (0.36 times), retail investors (0.48 times).

Bulk Deals

  • Medi Assist Healthcare Services: Edelweiss Broking sold 4.82 lakh shares (0.7%) at Rs 500.02 apiece.

  • Edelweiss Financial Services: CLSA Global Markets PTE bought 2.72 crore shares (2.88%) at Rs 69.16 apiece, while The Pabrai Investment Fund IV LP sold 272.08 lakh shares (2.88%) at Rs 69.15 apiece.

  • On Mobile Global: Anshul Saigal bought 5.32 lakh shares (0.5%) at Rs 75.15 apiece.

Vodafone Idea Gets Shareholder Nod For Rs 20,000 Crore Fundraise, Board To Meet On April 6

Pledge Share Details

  • Chambal Fertilizers and Chemicals: Promoter revoked the pledge of 17.15 lakh shares on March 30.

Who’s Meeting Whom

  • Capital Small Finance Bank: To meet analysts and investors on April. 9.

  • Hindustan Foods: To meet analysts and investors on April 12.

  • Tips Industries: To meet analysts and investors on April 8.

  • HDFC Asset Management Company: To meet analysts and investors on April 19.

GE Power Bags 2 Orders Worth Rs 775 Crore From Jaiprakash Power Venture

Trading Tweaks

  • Price Band changes from 10% to 5%: HLV.

  • Price Band changes from 5% to 20%: Shipping Corporation of India Land and Assets.

  • Ex/record stock split: Cupid

  • Ex/record bonus: Cupid

  • Ex/record dividend: Sundaram Clayton, Varun Beverages.

  • Moved into short-term ASM framework: Technocraft Industries (India).

  • Moved out of short-term ASM framework: Manoj Vaibhav Gems N Jewellers.

Union Bank Raises $500 Million From Overseas Market

F&O Cues

  • Nifty April futures down by 0.14% to 22,546.8 at a premium of 112.15 points.

  • Nifty April futures open interest up by 2.42%.

  • Nifty Bank April futures up by 0.08% to 47,931.1 at a premium of 306.85 points.

  • Nifty Bank April futures open interest up by 6.2%.

  • Nifty Options April 4 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 22,000.

  • Bank Nifty Options April 10 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 47,500.

  • Securities in ban period: Hindustan Copper, Sail, Zee Entertainment Enterprise.

Indian Oil In Talks With State Nuclear Firm For Small Reactors
Stocks To Watch: Vodafone Idea, Axis Bank, DMart, L&T Finance, Vedanta, GE Power

Research Reports

Aster DM Healthcare Concludes Separation Of India, Gulf Businesses