Stocks to Watch, April 26: Bajaj Fin, IndusInd, Maruti, IndiGo, HCL Tech

Stocks to Watch on Friday, April 26, 2024: IndiGo has placed an order with European plane maker Airbus for 30 A350-900 widebody aircraft at a deal estimated to be between $4 billion and $5 billion

Stocks to Watch on Friday, April 26: Equity markets are looking to start Friday's trading session on a muted note amid mixed trends in global markets.

Investors, back home, will track March quarter (Q4FY24) results today, along with movement in bond yields, and foreign flows.

At 7:35 AM, Gift Nifty was quoting 22 points higher at 22,676 levels.

Elsewhere in Asia, Japan's Nikkei was up 0.3 per cent ahead of the Bank of Japan's interest rate decision.

South Korea's Kospi, Hong Kong's Hang Seng, and China's Shanghai Composite, too, added up to 1 per cent.

ASX 200, however, was down 1.15 per cent.

Overnight in the US, stocks tumbled after data showed the US gross domestic product expanded slower than expected at 1.6 per cent in the first quarter.

Additionally, the personal consumption expenditures price index increased at a 3.4 per cent pace, well above the previous quarter’s 1.8 per cent advance.

The Dow Jones Industrial Average slid 0.98 per cent, the S&P 500 dropped 0.46 per cent, and the Nasdaq Composite lost 0.64 per cent.

Meanwhile, here is a list of stocks to watch today:

Q4FY24 results on April 26: Maruti Suzuki India., HCL Technologies, SBI Life Insurance Co., Bajaj Finserv, Shriram Finance, SBI Cards and Payment Services, Supreme Industries, Atul, Aditya Birla Sun Life AMC, Mahindra Lifespace Developers, Motilal Oswal Financial Services, KSB, Mahindra Holidays & Resorts India, Bajaj Holdings and Investment, Bank of Maharashtra, Usha Martin, Mastek, Indiabulls Real Estate, Eveready Industries India, VST Industries, and Force Motors will report their March quarter results today, April 26.

Bajaj Finance: Bajaj Finance's March quarter net profit jumped 21 per cent year-on-year (Y-o-Y) to Rs 3,825 crore, beating estimates. The NBFC's assets under management (AUM) grew by 34 per cent to Rs 3.31 trillion.

IndusInd Bank: IndusInd Bank reported a higher-than-expected growth in net profit of 15 per cent Y-o-Y to Rs 2,347 crore in Q4FY24. Its net interest income orose 13.9 per cent to Rs 5,376 crore, while NIM came at 4.26 per cent (vs 4.28 per cent Q-o-Q).

Tech M: Tech Mahindra reported a 40.86 per cent Y-o-Y slide in consolidated net profit at Rs 661 crore in Q4FY24. Sequentially, however, the profit surged nearly 30 per cent. The company's revenue from operations decreased by 6.17 per cent on year to Rs 12,871 crore.

Cyient: Cyient reported a 28.5 per cent quarter-on-quarter increase in net profit at Rs 196.9 crore for Q4FY24, with revenue from operations growing 2.2 per cent to Rs 1,861 crore.

Other result reactions: UTI AMC, Schaeffler India, Olectra Greentech, Prime Securities, Som Distilleries, Tanla Platforms, Aavas Financiers, Zensar Technologies, KPI Green Energy, and LTTS.

InterGlobe Aviation (IndiGo): IndiGo has placed an order with European plane maker Airbus for 30 A350-900 widebody aircraft at a deal estimated to be between $4 billion and $5 billion.

Inox Wind: The Board of Inox Wind approved the issue of three bonus shares for every one share held at its meeting on Thursday. The record date is yet to be finalised.

Biocon: The National Company Law Tribunal (NCLT) hws approved the scheme of amalgamation of biofusion therapeutics with Biocon Pharma.

Laurus Labs: The company has fixed May 8, 2024 as the Record Date for determining eligible shareholders for dividend payment of Rs 0.4 (20 per cent) per equity share of Rs 2 each, for FY24.  

RITES: The company entered an MOU with Ultratech Cement for project management consultancy services for Rail Infra projects.

CRISIL: The rating agency's unit received Sebi license to commence the business of ESG Ratings Provider.

Tata Steel: The company will proceed with an investment worth GBP 1.25 billion in the Port Talbot furnace.

PG Electroplast: The company started a new AC manufacturing plant in Rajasthan.

NLC India: The company is commissioning a 3X660 MW Thermal Power Plant in Uttar Pradesh.