Stocks To Watch: Maruti Suzuki, Aditya Birla Fashion, Infosys, IIFL Finance, Ashok Leyland
Here are the stocks to watch before going into trade today.
Big auto stocks will be in focus on Tuesday trade after they reported their monthly sales figures, including Maruti Suzuki India Ltd., Hero MotoCorp Ltd., Ashok Leyland Ltd. and TVS Motor Co.
Aditya Birla Fashion and Retail Ltd. plans to vertically demerge its Madura Fashion and Lifestyle business into a separate listed company, while AU Small Finance Bank Ltd. has announced the merger of Fincare Small Finance Bank with itself.
India's benchmark equity indices ended higher for the third straight day on Monday, led by gains in Larsen & Toubro Ltd., Tata Steel Ltd., and banking stocks.
The NSE Nifty settled 135.10 points, or 0.61%, higher at 22,462.00, and the S&P BSE Sensex rose 363.20 points, or 0.49%, to end at 74,014.55.
Overseas investors in Indian equities turned net sellers on Monday after three consecutive sessions of buying. Foreign portfolio investors offloaded stocks worth Rs 522.3 crore and domestic institutional investors remained net buyers and mopped up equities worth Rs 1,208.4 crore, the NSE data showed.
The Indian currency and bond markets were closed on Monday.
Asia-Pacific markets were mostly higher in early trade on Tuesday as investors await for jobs data for further insight into the U.S. labour market.
The Nikkei 225 index was 288.57 points or 0.72% higher at 40,091.66, and the S&P ASX 200 was trading 4.30 points or 0.054% higher at 7,901.20 as of 06:32 a.m.
Market participant will be assessing the U.S. Job Openings and Labour Turnover Survey data, scheduled for release later today, to get fresh cues about the Federal Reserve's stance on monetary policy going forward. This data will be crucial after strong U.S. factory data.
The world’s biggest bond market came under pressure and stocks erased gains as solid U.S. factory data reinforced speculation that the Federal Reserve will be in no rush to cut interest rates.
The S&P 500 index and Nasdaq Composite rose 0.20% and 0.11%, respectively, as of Monday. The Dow Jones Industrial Average dropped by 0.60%.
Brent crude was trading 0.30% higher at $87.72 a barrel. Gold was 0.04% to trade at $2,250.61 an ounce.
The GIFT Nifty was trading 11.5 points or 0.05% higher at 22,504.50 as of 06:35 a.m.
Stocks To Watch
Maruti Suzuki India: The company produced 1.63 lakh units of passenger vehicles for the month of March vs. 1.50 lakh units last year and total production volume was 1.67 lakh units vs. 1.54 lakh units.
Ashok Leyland: The company reported total domestic vehicle sales of 21,317 units vs. 22,885 units, down 7% YoY, and total domestic plus export vehicle sales of 22,866 vs. 23,926, down 4%.
Aditya Birla Fashion: The company plans to vertically demerge its Madura Fashion and Lifestyle business into a separate listed company.
Hero MotoCorp: The company recorded total sales at 4.9 lakh units vs. 5.19 lakh units YoY and motorcycle sales at 4.57 lakh units vs. 4.86 lakh units.
JTL Industries: The company reported its highest-ever annual sales volume of 3,41,846 MT vs. 2,40,316 MT in FY24, up 42.25%.
AU Small Finance Bank: The board of AU Small Finance Bank has announced the merger of Fincare Small Finance Bank with itself.
NMDC: The company reported 4.86 MT of production for the month of March 2024 vs. 5.6 MT in March 2023 and sales for the month of March stood at 3.96 MT vs. 4.84 MT in March 2023.
Infosys: The company received a tax demand order worth Rs 341 crore for FY20–21.
TVS Motor: The company reported total sales at 3.55 lakh units vs. 3.17 lakh units, up 12% YoY, and motorcycle sales at 1.72 lakh units, up 22%.
CSB Bank: The company reported total deposit as of March 31 at Rs 29,719 crore, up 21.27% YoY, and gross advances at Rs 24,574 crore, up 17.91%.
Bharat Dynamics: The company reported a turnover of Rs 2,350 crore for FY24 vs. Rs 2,489 crore for FY23. Its order book position stands at Rs 19,468 crore as of April 1.
IIFL Finance: The company received NSE approval to acquire shares aggregating up to Rs 284.4 crore of the bourse from FIH Mauritius Investments through off-market transfer.
Atul Auto: The company sold 3,128 vehicles for the month of March and reported total sales of 26,039 units for FY24, up 1.92%.
IREDA: The company's loan was sanctioned as of March 31 at Rs 37,354 crore, up 14.63% YoY. Loan book outstanding as of March 31 was Rs 59,650 crore, up 26.71 YoY.
Paisalo Digital: The board will meet on April 4 to consider fundraising through NCDs.
Uflex: The company started commercial operations of the CPP Film production line at Flex Films Rus LLC, Russia, with an installed capacity of 18,000 MT per year.
UNO Minda: The company received communication from Honda Motorcycle and Scooter India informing about the global recall of their bikes on account of leakage of oil observed from the engine caused by the dislodgement of the sealing plug cone out of the engine cover, which was supplied by the company's plant situated in Bawal, Haryana. The OEM has estimated that the recall will cost Rs 76 crore.
Bulk Deals
Suraj Estate Developers: BNP Paribas Arbitrage sold 2.22 lakh shares (0.5%) at Rs 302.97 apiece.
Who’s Meeting Whom
Datamatics Global Services: To meet analysts and investors on April. 2.
Azad Engineering: To meet analysts and investors on April 5.
Navin Fluorine International: To meet analysts and investors on April 5.
Five-Star Business Finance: To meet analysts and investors on April 4.
Trading Tweaks
Price band revised from 10% to 5%: MSP Steel and Power.
Ex/record dividend: TVS Holdings, Bharat Dynamics, GPT Healthcare.
Moved into short-term ASM framework: Dynacons Systems and Solutions.
Moved out into short-term ASM framework: Dishman Carbogen Amcis, Zaggle Prepaid Ocean Services.
F&O Cues
Nifty March futures up by 0.55% to 22,602.6 at a premium of 140.6 points.
Nifty March futures open interest down by 7.2%.
Nifty Bank March futures up by 0.84% to 47,913.7 at a premium of 335.45 points.
Nifty Bank March futures open interest down by 41.53%.
Nifty Options April 4 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 22,300.
Bank Nifty Options April 3 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 47,000.
Securities in ban period: Nil.
Research Reports
Aavas Financiers - Play On Affordable Housing Finance; IDBI Capital Initiates Coverage With A Buy
Inox India - Tanked Up And Ready To Roll; ICICI Securities Initiates Coverage With A Buy
ICICI Lombard - Tech Initiatives To Drive Long-Term Efficiencies: Motilal Oswal
Indian Home Textile Sector - Taking ‘Home’ To The World: Systematix Initiates Coverage On The Sector
NMDC - Volume Growth, Capacity Enhancement To Drive Next Leg Of Performance: Motilal Oswal
Astra Microwave - Big Order Win Boosts Prospects: ICICI Securities