Stocks To Watch: Bajaj Finance, Wipro, JSW Energy, Adani Wilmar, Vi, Titan, Zee, Shyam Metalics, Nestle India
Here are the stocks to watch before going into trade today.
Major state-run lenders including Bank of India, Bank of Baroda and Punjab National Bank, and jewellery-maker Titan Co. will be in focus on Monday trade after they reported their fourth quarter business updates.
Indiabulls Real Estate Ltd. will raise up to Rs 3,910.9 crore via preferential issue of shares, while Nestle India Ltd. approved increasing royalty payment to its parent firm by 0.15% annually.
Stocks in the Asia-Pacific region were up in early trade on Monday following Wall Street's positive weekly close as jobs print indicated a strong US economy.
The KOSPI was trading 0.08% higher at 2,716, and the NIKKEI was trading 1.18% higher at 39,450 as of 6:20 a.m. Stock market in China will reopen after a two-day holiday.
US stocks ended the week on a higher note after a blowout jobs report signalled the US economy will continue to power Corporate America, Bloomberg reported.
The S&P 500 index and Nasdaq Composite ended 1.11% and 1.24% higher respectively, on Friday. The Dow Jones Industrial Average settled 0.80% higher.
Brent crude was trading 1.78% lower at $89.55 a barrel. Gold was down 0.94% to $2,307.75 per ounce.
The GIFT Nifty was trading 52.5 points or 0.23% lower at 22,674 as of 06:30 a.m.
India's benchmark stock indices erased earlier losses to close little changed on Friday, led by gains in rate-sensitive realty and banking stocks after the Reserve Bank of India kept the rate unchanged at policy. This helped the indices clock their third weekly gain.
The NSE Nifty 50 ended 10.85 points, or 0.048%, higher at 22,525.50, and the S&P BSE Sensex gained 20.59 points, or 0.028%, to end at 74,248.22.
Overseas investors turned net buyers on Friday after four days of selling. Foreign portfolio investors mopped up stocks worth Rs 1,659.3 crore and domestic institutional investors remained net sellers for the second day and offloaded equities worth Rs 3,370.4 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened about 16 paise to close at Rs 83.29 against the US dollar.
Stocks To Watch
Bajaj Finance: Bajaj Housing Finance is mandatorily required to list by Sept. 30, 2025. The company's board will undertake discussions with respect to the mandatory listing requirement, including considering various options based on the prevailing market conditions, at its meeting scheduled on April 24, 2024.
Wipro: The IT major appointed Srinivas Pallia as its new chief executive officer and managing director, following the resignation of Thierry Delaporte.
JSW Energy: The company raised Rs 5,000 crore via qualified institutional placements at an issue price of Rs 485 per share. The issue price is at a 4.92% discount to the floor price of Rs 510.09 per share.
Vodafone Idea: The company will raise Rs 2,075 crore via issuance of shares to Oriana Investments. The telecom company will issue 139.5 crore shares at Rs 14.87 per share.
Tata Power: The company signed a share purchase agreement and acquired 100% equity stake in Jalpura Khurja Power Transmission Ltd. It will build, own, operate and transfer electrical power transmission system to establish twin 400 KV GIS substations at Jalpura and Metro-Depo, Greater Noida.
Tata Steel: The company achieved highest ever annual crude steel production of 20.8 million tons, a growth of 4% year-on-year. It achieved debottlenecking across sites and achieving higher steel production at Neelachal Ispat Nigam Ltd.
Adani Wilmar: The company witnessed double-digit growth in edible oils and foods at the end of the fourth quarter. Food and FMCG volume growth stood at 10% YoY, while edible oil was at 13%.
Bandhan Bank: MD and CEO Chandra Ghosh will step down from the post after the completion of his current tenure.
Zee Entertainment Enterprises: MD and CEO Punit Goenka has proposed the implementation of a lean and streamlined management structure to the board.
Punjab National Bank: The company reported total deposits stood at Rs 13.7 lakh crore, up 7% YoY as of March 31, total advances stood at Rs 9.86 lakh crore, up 11.5%, and total business stood at Rs 23.56 lakh crore, up 8.8%.
Titan: The company revenue rose by 17% YoY in the fourth quarter, with the with the jewellery business up 18%, the watches and wearables business up 6%, the eye care business down 1%, emerging businesses up 24%, and the Carat Lane business up 30%.
Shyam Metalics: The company reported steel sales at 2.38 lakh tonne, up 26.4% YoY for the end of March and long steel sales at 1.36 lakh tonne, up 11.2% YoY and steel sales at 6.87 lakh tonne, up 6.5% QoQ for the end of the fourth quarter and long steel sales at 3.8 lakh tonne, up 12% QoQ.
Union Bank of India: The company reported total deposits at Rs 12.2 lakh crore, up 9.3% YoY, as of March 31 and total business stood at 21.3 lakh crore, up 10.3%.
Indiabulls Real Estate: The company approved raising up to Rs 3,910.9 crore in one or more tranches via preferential issue of shares. Investors include Utpal Seth, Blackstone, Poonawalla Finance, and Quant MF.
Nestle India: The board approved increasing royalty payments to its parent firm by 0.15% annually for the next five years, thereby enhancing them to 5.25% of net sales.
Bank of Baroda: The company reported domestic deposits at 11.3 lakh crore, up 7.75% YoY as of March 31. Domestic advances stood at Rs 8.97 lakh crore, up 12.8% YoY; global deposits stood at Rs 13.3 lakh crore, up 10.2% YoY; and global advances stood at Rs 10.9 lakh crore, up 12.4% YoY.
Bank of India: The bank reported domestic deposits at Rs 6.3 lakh crore, up 11% YoY; as of March 31, domestic advances stood at Rs 4.93 lakh crore, up 14%; global gross advances stood at Rs 5.86 lakh crore, up 13.6%; and global deposits stood at Rs 7.38 lakh crore, up 10.2%.
Utkarsh Small Finance Bank: The lender reported total deposits at Rs 17,473 crore, up 27.4% YoY, as of March 31 and its gross loan portfolio stood at Rs 18,299 crore, up 31%.
RITES: The company signed an MoU with IIT Madras to collaborate on green energy projects in the field of transport and mobility.
UCO Bank: The company appointed Sourav Kumar Dutta as its new chief technology officer on a contractual basis for 3 years.
Aurobindo Pharma: The USFDA inspected the company’s unit from March 28 to April 5 and closed with three observations.
Godrej Consumer: The company expects sales growth in the mid-single digits, driven largely by currency volatility and underlying volume growth is expected to be in the double digits.
Dr. Reddy's Laboratories: The company and Bayer signed a marketing and distribution agreement for the second brand of Vericiguat in India.
Mahindra EPC: The company received an order worth Rs 13.2 crore from the Office of the Assistant . Engineer to supply microirrigation systems for 2,700 hectares.
South Indian Bank: The company appointed Vinod Francis as CFO with effect from April 8, 2024.
Indiamart Intermesh: The company reappointed Dinesh Chandra Agarwal as MD and CEO for 5 years, effective Jan. 8, 2025.
Landmark Cars: The company will incorporate a wholly owned subsidiary, Landmark Premium Cars.
Greaves Cotton: The company’s unit entered into an into an agreement with Tsuyo Manufacturing to advance its presence in the low-speed electric 3-wheeler vehicle segment and appointed K. Vijaya Kumar as Executive Director and CEO.
Dodla Dairy: The company purchased land valued at Rs 6.5 crore in Karnataka and subsequently closed the leased plant in the region after the lease period concluded.
United Breweries: The company received a demand order worth Rs 264 crore for FY20 from the Maharashtra GST department.
Shalby: The company availed enhanced banking facilities up to Rs 168.53 crore from IndusInd Bank.
Jammu and Kashmir Bank: CFO Pratik D. Punjabi resigned from the position effective today.
Embassy REIT: The company will acquire Embassy Splendid TechZone For Rs 1,269 crore.
Electronic Mart India: The company commences commercial operation at new 8,500 sq feet multi-brand store in Telengana.
IPO Offering
Bharti Hexacom: The public issue was subscribed to 29.88 times on day 3. The bids were led by institutional investors (48.57 times), non-institutional investors (10.52 times), retail investors (2.83 times).
Block Deals
Camlin Fine Sciences: Anfima NV bought 23 lakh shares (1.37%), while Ashish Subhash Dandekar sold 23 lakh shares (1.37%) at Rs 97.99 apiece.
Bulk Deals
Vijaya Diagnostic Centre: Canara Robeco Mutual Fund A/C - Canara Robeco Small Cap Fund sold 6.92 lakh shares (0.67%) at Rs 664 apiece.
Who’s Meeting Whom
Supriya Lifescience: To meet analysts and investors on April 10.
Nippon Life India Asset Management: To meet analysts and investors on April 25.
Safari Industries: To meet analysts and investors on April 9.
Gandhar Oil Refinery (India): To meet analysts and investors on April 11 and 12.
Trading Tweaks
Price Band changes from 20% to 10%: Shipping Corporation of India Land and Assets.
Ex/record dividend: Indian Metals and Ferro Alloys, Sun TV Network.
Moved into short-term ASM framework: Genesys International, GOCL Corporation, Indraprastha Medical, Manali Petrochemical.
Moved out short-term ASM framework: Skipper.
F&O Cues
Nifty April futures down by 0.07% to 22,595.5 at a premium of 81.8 points.
Nifty April futures open interest down by 1.3%.
Nifty Bank April futures up by 1.02% to 48,658.1 at a premium of 65.05 points.
Nifty Bank April futures open interest up by 14.06%.
Nifty Options April 10 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,500.
Bank Nifty Options April 10 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 48,000.
Securities in ban period: Bandhan Bank, Hindustan Copper, Sail, Zee Entertainment Enterprise.
Research Reports
Brigade Enterprise - Targeting Consistent Growth Across All Segments: Motilal Oswal
IT Q4 Results Preview - A Forgettable Quarter; Expect Slow Recovery In FY25: ICICI Securities
Cement Q4 Results Preview - Healthy Demand; Pricing Muted: Axis Securities
Banks Q4 Results Preview - Earnings Growth To Remain Steady; NIM Contraction To Ease: Motilal Oswal
Oil & Gas Q4 Results Preview - Lower Gas Price To Boost Volume, Earnings: Systematix
Disclaimer: NDTV is a subsidiary of AMG Media Networks Ltd, an Adani Group Company.