Stocks to Watch: TCS, Veranda, Voda Idea, Exim Bank, Cadila, Banks, IT

TCS is likely to announce results after market hours on Monday. The IT stocks will be in focus with Infosys too to announce earnings later this week.

The key benchmark indices are likely to start trade for the week on a quiet note amid subdued global cues. That apart, Q4 earnings led by IT shares are likely to dictate the market trend this week. As of 07:30 AM, the SGX Nifty April futures quoted at 17,811 as against the spot Nifty close of 17,784 last week.

Earnings Watch: TCS, Kesoram Industries, Delta Corp and Birla Tyres were some of the prominent companies to announce Q4 results today.

Q4 expectations: Brokerages expect another quarter of high double-digit growth in the earnings of the country’s top companies that are part of the benchmark Nifty50 index. According to brokerage estimates, the combined net profit of the companies in the index is expected to grow by 29.1 per cent year-on-year (YoY) in the January-March 2022 quarter (Q4FY22) to an all-time high of Rs 1.61 trillion, from around Rs 1.25 trillion a year ago. READ MORE

Veranda Learning Solutions: The stock is likely to make a decent debut on the bourses on Monday. The IPO was subscribed 3.5 times, with retail quota subscribed up to 10.8 times. As per the Grey Market Premium (GMP) the stock may see modest gains of 5-10 per cent in early deals.

Jindal Steel and Power (JSPL): The company plans to set-up the country’s second coal gasification plant at its Raigarh plant in Chhattisgarh. The company is already using the coal gasification technology to produce steel at its plant in Angul, Odisha. READ MORE

Vedanta: One of the group’s firm has said it is working on a solution to use hydrogen instead of coke in its manufacturing process so as to reduce carbon emissions. Vedanta's Sesa Goa Iron Ore Business said it is looking for a tie-up with IIT-Bombay to carry out a research for manufacturing pig iron ore using hydrogen in place of coke.

Export Import (Exim) Bank of India: The bank plans to raise around $3 billion in 2022-23 (FY23) via overseas bonds to support fresh lending and refinance a portion of the old debt. Harsha Bangari, managing director, India Exim Bank, said that treasury rates (yields on government bonds) have started going up in international markets. READ MORE

Time Technoplast: The company’s board has approved a proposal for restructuring of overseas business to capture the growth in Asian Countries, Middle East and USA through joint venture/ Special Purpose Vehicle by onboarding strategic partner/ investor partner by way of sale/ transfer/ disposal of part of assets/ investments of subsidiaries/ material subsidiaries/ step down subsidiaries. 

Further, the company will be benefitted by utilizing proceeds of the restructuring for repayment of debt, capex for Composite Cylinders (LPG/CNG/Hydrogen) & Core Business in India to meet huge market demand and benefit to the shareholders, it said in a release to the BSE.

Multiplex owners: Shares of the multiplex owners are likely to be in limelight as April promises to be as exciting as March was for Bollywood, going by the strong lineup of films and advance booking of tickets for blockbusters such as K.G.F: Chapter 2. K.G.F. 2, which releases on April 14. 

Cadila Pharmaceuticals: The pharmaceutical major said it has developed the world's first novel three-dose vaccine against rabies.

TCS:  A consortium led by the IT major has bagged a Rs 550 crore order from BSNL for deploying indigenously-designed 4G network, an official source said on Friday. The TCS consortium will initially deploy 6,000 mobile towers for BSNL 4G services. 

Banks: Taking a cue from the shift in policy stance and hardening yields, banks may look to revise lending rates albeit in a calibrated manner. Much of upward revision in loan rates is expected to happen when the RBI hikes policy rates like repo, bankers said. 

FMCG: Fast-moving consumer goods (FMCG) sales slowed in the March quarter on the back of a sharp rise in prices, especially in commodity products that include edible oil, retail Intelligence platform Bizom said. Homecare and personal care product sales have witnessed a slowdown. However, Bizom expects sales of beverages to pick up in the summer months. READ MORE

Jet Airways: Back to the airline boardroom after almost two years, Sanjiv Kapoor now has a job which has no precedence- to take back Jet Airways, which has been grounded for three years now back to skies. The airline shut operations in April 2019 after getting under a pile of debt and bankers refusal for any fresh funding. The airline is expected to take to the skies again by the third quarter of CY2022. Jet will be the first bankrupt airline to be revived. READ MORE

Wipro: The IT major appointment Anis Chenchah as a member of the Wipro Executive Board and Chief Executive Officer, APMEA (Asia Pacific, India, Middle East and Africa). Chenchah has over two decades of experience in Consulting, IT and Business Process Services. He joins from Capgemini where he was the Global CEO of Capgemini Business Services and member of the Group Executive Committee. 

ABB India: Even as it expands its Gujarat facility at Vadodara by inaugurating a digital substation products and systems plant, ABB India is also planning to expand its traction motor output for locomotives and metro rail projects with a new plant at the location.

Vodafone Idea: The Department of Telecommunication has returned bank guarantees worth Rs 15,000 crore to Vodafone Idea (Vi). This is in line with last year’s telecom reforms package which reduced bank guarantee requirements for licence fee and spectrum dues. 

Axis Bank, IDBI Bank: The Reserve Bank of India on Friday said it imposed a penalty of Rs 93 lakh on Axis Bank for non-compliance of certain regulatory directions. Similarly, IDBI Bank too was penalised for non-compliance of directions on 'frauds - classification and reporting by commercial banks and select financial institutions'.

Stocks in F&O ban: RBL Bank is the only stock in the F&O ban period on Monday.