Stocks To Watch: Tata Motors, Axis Bank, Yes Bank, Gland Pharma, Dilip Buildcon, Sula Vineyards
Here are the stocks to watch before going into trade today.
Tata Motors Ltd. will be in focus on Tuesday after the luxury car unit grew its global wholesales by a fourth, excluding China, as improved production met global demand.
Axis Bank Ltd. and Gland Pharma Ltd. will see block deals as key shareholders plan to offload shares.
India's benchmark stock indices kicked off the week by surging to a fresh record closing level on Monday, led by gains in automobile stocks. The market cap of BSE Ltd.-listed firms crossed the Rs 400 lakh crore mark and the Bank Nifty also recorded the highest closing level of 48,581.7.
The NSE Nifty 50 ended 147.25 points, or 0.65%, higher at 22,660.95, and the S&P BSE Sensex rose 494.28 points, or 0.67%, to close at 74,742.5.
Overseas investors turned net sellers of Indian equities on Monday after a day of buying. Foreign portfolio investors offloaded stocks worth Rs 684.7 crore and domestic institutional investors turned net buyers and mopped up equities worth Rs 3,470.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened by 3 paise to close at Rs 83.32 against the US dollar.
Markets in Asia-Pacific region rose despite a rise in U.S. Treasury yields as market participants await for the CPI print to get fresh cues about the Federal Reserve's rate outlook.
The Nikkei 225 was trading 250.09 points or 0.64% higher at 39,597.13, and the S&P ASX 200 was trading 36.70 points or 0.47% higher at 7,825.80 as of 06:26 a.m.
The world’s biggest bond market kicked off the week on the back foot as geopolitical pressures abated and traders positioned for this week’s key inflation data, Bloomberg said.
The S&P 500 index fell 0.04% and Nasdaq Composite rose 0.18% as on Monday. The Dow Jones Industrial Average fell by 0.03%.
Brent crude was trading 0.51% higher at $90.84 a barrel. Gold rose 0.07% to $2,340.77 an ounce.
The GIFT Nifty was trading 5 points or 0.02% lower at 22,833.00 as of 06:33 a.m.
Stocks To Watch
Tata Motors: The company reported JLR wholesales at 4 lakh units, up 25% YoY, for the end of FY 24, while JLR retail sales is up 22% at 4.3 lakh units and for the end of quarter fourth JLR wholesales stood at 1.1 lakh units, up 16% YoY, JLR retail sales at 1.1 lakh units, up 11% YoY.
Axis Bank: Bain Capital is looking to sell its entire stake in Axis Bank through a block deal.
Yes Bank: The company received Rs 244 crore from a single trust in the Security Receipts Portfolio after the sale of NPA Portfolio to JC Flower ARC in December 2022.
Gland Pharma: Shareholder Nicomac Machinery and RP Advisory Services plan to sell up to 4.9% stake in the company at a floor price of Rs 1,725 apiece which represents a discount of 7.34% from current market price.
Shilpa Medicare: The company has opened its qualified institutional placement and set the issue price at Rs 477.33 apiece which indicates a 10% discount to current market price. The QIP will result in equity dilution of 11.24% after the issue.
Sula Vineyards: The company recorded double-digit revenue growth in the fourth quarter as well as the whole of FY24. Net revenue grew by 10% YoY to Rs 131.8 crore in Q4, sales from own brands was up 9% at Rs 113 crore, and wine tourism stood at Rs 16.4 crore, up 31%. It also announced the acquisition of N D Wines.
Dilip Buildcon: The company received order worth of Rs 1,092 crore from Haryana Rail Infrastructure Development Corp on EPC mode.
Rail Vikas Nigam: The company has incorporated a subsidiary company “RVNL INFRA MIDDLE EAST" in Oman.
SJVN: The company's arm SJVN Green Energy signed a joint venture agreement with Assam Power Distribution Company to develop renewable energy projects, parks. The arm will hold 51% shareholding in joint venture company.
Paisalo Digital: The company will hold it board meeting on April 12 to consider fundraising through allotment of NCDs through Private Placement basis.
IRB Infrastructure Developers: The company saw a 30% YoY rise in toll revenue for March 2024, reaching Rs 480.9 crore. Assets under IRB Infrastructure Trust recorded a 40% increase in toll collection.
H.G. Infra Engineering: The company incorporated a wholly owned subsidiary company namely 'H.G. Chennai-Tirupati' to undertake the project worth of Rs 862.11 crore awarded by National Highways Authority of India.
UCO Bank: The lender reported total business at Rs 4.5 crore, up 9.6% YoY as on March 31, while total advances were up 15.9% at Rs 1.87 crore, total deposits up 5.5% at Rs 2.63 crore.
PCBL: The company's arm commissioned 12 MW power plant in Tamil Nadu. The total capacity of the cogeneration power of the company stands at 122 MW.
Cupid: The company reported net revenue up Revenue up 51.56% at Rs 62.9 crore for the end of fourth quarter and Profit after tax of Rs 23.7 crore up 185%.
Omaxe: The company's unit will develop India's first integrated multi-sports stadium, retail, and hospitality hub in Delhi for around Rs 1,500 crore. The cost of construction will be funded through internal accruals and the company is expecting a revenue of around Rs 2,500 crore through the sale of retail units.
Hikal: The company has acquired a 5.73% stake in FPEL Ujwal for Rs 4.12 crore to meet captive electricity requirements under the Indian Electricity Act, 2003.
Jana Small Finance Bank: Rajesh Rao has resigned from the position of Chief Operating Officer.
Sterlite Technologies: The QIP opened on Monday with a floor price of Rs 119 per share.
Bulk Deals
RBL Bank: Citigroup Global Markets Mauritius bought 66.97 lakh shares (1.11%), while Copthall Mauritius Investment sold 66.97 lakh shares (1.11%) at Rs 255.4 apiece.
South Indian Bank: Citigroup Global Markets Mauritius bought 1.76 crore shares (0.84%), while Copthall Mauritius Investment 1.76 crore sold shares (0.84%) at Rs 28.78 apiece.
Who’s Meeting Whom
Ajmera Realty and Infra India: To meet analysts and investors on April 11.
Union Bank of India: To meet analysts and investors on April 15.
Krystal Integrated Services: To meet analysts and investors on April 12.
Va Tech Wabag: To meet analysts and investors on April 12.
Trading Tweaks
Price Band changes from 20% to 10%: Abans Holdings, Indo Tech Transformers.
Price Band changes from 10% to 5%: Eimco Elecon (India).
Moved into short-term ASM framework: Action Construction Equipment, Abans Holdings, Coffee Day Enterprises, Gravita India, Indostar Capital Finance, Paramount Communications, Reliance Infrastructure, SEPC, Ujjivan Small Finance Bank,
Moved out short-term ASM framework: Indraprastha Medical, Jyoti CNC Automation, Sanghvi Movers.
F&O Cues
Nifty April futures up by 0.69% to 22,748.5 at a premium of 82.2 points.
Nifty April futures open interest up by 8.05%.
Nifty Bank April futures up by 0.05% to 48,691.15 at a premium of 109.45 points.
Nifty Bank April futures open interest down by 4.02%.
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, Sail, Zee Entertainment Enterprise.
Reseach Reports
Bajaj Finance - Standing The Test Of Time; ICICI Securities Initiates Coverage With A Buy
Star Cement - Positives Galore; ICICI Securities Initiates Coverage With A Buy
Pharma Q4 Results Preview - U.S. Pricing Pressure Eases; Margins Improve: Nirmal Bang
Cement Q4 Results Preview - Modest Volume Growth; Price Pressures Hurt Profitability: Systematix
Metals, Mining Q4 Results Preview - Steel Margins Under Pressure; Base Metals Shine: Axis Securities
Consumer Sector Q4 Results Preview - On The Course Of Volume Pickup: Motilal Oswal
Chemical Sector Q4 Results Preview - Slower Than Expected Demand Pick-Up: Dolat Capital