Stocks To Watch: Infosys, TV18 Broadcast, Reliance Industries, Zee Entertainment, SBI, Max Healthcare

National Stock Exchange. (Source: Vijay Sartape/BQ Prime)

Asian benchmarks pointed to a mixed open, with Hong Kong down, Japan up and Australia marginally higher. As inflation pressure persists in the U.S., investors expect at least one more interest rate hike from Federal Reserve this year, which is rippling through global markets.

U.S. stock futures rose slightly in a cautious start to trading on Monday after the shares on the Wall Street ended lower on Friday.

The S&P 500 fell 0.2% Friday, trimming its gain for the week to 0.8%, while The Nasdaq 100 managed to squeeze out a 0.1% gain over the five days, as policy-sensitive technology names like Microsoft Inc. and Apple Inc. dragged on the benchmark.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.52%. Crude prices traded above $86-mark, while Bitcoin was above 30,000-level.

At 6:00 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index's performance in India, was down 0.32% at 17,813.

Indian benchmark indices—Sensex and Nifty—continued their rally for the ninth day in a row to end at a seven-week high with the longest winning streak in 2.5 years.

Indian rupee extended its gains against the U.S. dollar by a lot on a weaker greenback in the global market.

Foreign institutional investors were net buyers for the tenth straight day and mopped up stocks worth Rs 221.9 crore during the day. On the other hand, domestic institutional investors were net sellers for the third straight day and offloaded stocks worth Rs 273.7 crore, the NSE data showed.

Stocks To Watch

TV18 Broadcast/Reliance Industries/Bodhi Tree Multimedia: Viacom18, a subsidiary of the company, closed the merger of Reliance Storage with itself and integrated JioCinema as well. Viacom18 allotted shares to RIL group entities and Bodhi Tree Systems as consideration for the scheme of merger.
Brightcom Group: SEBI found that the company overstated profit after tax for fiscals 2019 and 2020 by more than Rs 1,280 crore. The regulator has ordered the company to publish correct shareholding pattern, and its managing director and directors not to sell their shares.
Zee Entertainment: CEO Punit Goenka settled with SEBI a case of insider trading norms violation related to the Zeeplex rollout for Rs 50.7 lakh.
State Bank of India: The bank kept 1-year MCLR-based lending rates unchanged across tenures for second month in a row.
Max Healthcare: The company completed acquisition of additional 34,000 shares of Eqova Healthcare for Rs 68.87 crore, taking its shareholding from 26% to 60%.
KIOCL: The company received two mineral exploration projects in Karnataka for reconnaissance survey for polymetallic mineralisation in Nagavanda gold and base metal block in parts of Dhanvangere, Haveri and Shimoga districts at Rs 1.48 crore, and preliminary exploration for amalgamated Kalaburagi limestone blocks in Jevargi region at Rs 2.33 crore.
HCL Technologies: Anand Birje, head of Digital Business Services, resigned from the company to pursue another opportunity.
Torrent Power: The company appointed Saurabh Mashruwala as chief financial officer, effective April 14, 2023, after the resignation of Lalit Malik from the post.

Earnings

Infosys Q4 FY23 (Consolidated, QoQ)

Revenue down 2.28% at Rs 37,441 crore (Bloomberg estimate: Rs 38,770 crore)
EBIT down 4.42% at Rs 7,877 crore (Bloomberg estimate: Rs 8,263 crore)
EBIT margin at 21.03% vs 21.5% (Bloomberg estimate: 21.6%)
Net profit down 6.86% at Rs 6,134 crore (Bloomberg estimate: Rs 6,582 crore)
The board recommended a final dividend of Rs 17.50 per share for the 2023 fiscal.

HDFC Bank Q4FY23

Net Profit: Rs 12,047 crore Vs Rs 10,055 crore (YoY) (Bloomberg Estimate: Rs 12,137 crore)
NII: Rs 23,352 crore Vs Rs 18,873 crore (YoY)
GNPA: 1.12% Vs 1.23% (QoQ)
NNPA: 0.27% Vs 0.33% (QoQ)