Stocks to Watch, April 4: Voda Idea, OMCs, Suryoday SFB, DMart, KEC, PFC

Stocks to Watch on Thursday, April 4: State-owned Union Bank of India has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth

Stocks to Watch on Thursday, April 4: The Services PMI for March, weekly F&O expiry, coupled with global cues will guide the domestic equities on Thursday

At 7:30 AM, Gift Nifty futures were up 53 points at 22,596 levels.

Globally, Asian shares were higher with the Nikkei, and Kospi surging 1.7 per cent and 1 per cent, respectively. 

China, Hong Kong, and Taiwan markets are closed today.

Overnight, the Wall Street indices ended mixed after the US Federal Reserve chair Jerome Powell said it would take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain.

The Dow Jones Industrial Average slipped 0.1 per cent, but the S&P 500, and the Nasdaq Composite added 0.1 per cent and 0.2 per cent, respectively.

Here is a list of stocks to watch today:

Sun Pharmaceuticals: Dheeraj Sinha has been appointed as the executive vice president and chief information officer effective from April 3, 2024. He will replace Anil Rao, senior vice president and chief information officer.

Oil-related companies: The Central government has increased windfall tax on crude petroleum to Rs 6,800/tonne from Rs 4,900/tonne effective April 4.

Vodafone Idea: VIL, post market hours on Wednesday, said that the telecom services provider will hold a board meet on Saturday, April 6, to consider issuing equity or convertible securities worth Rs 2,075 crore on a preferential basis to one or more promoter group entities.

Power Finance Corporation: State-owned power financier has paid record Rs 2,033 crore as interim dividend to the central government in fiscal 2023-24 (FY24).

Union Bank of India: State-owned Union Bank of India has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing.

RBL Bank: The lender's deposits increased 22 per cent year-over-year (Y-o-Y) to Rs 1.03 trillion in Q4FY24. Its loan advances, meanwhile, jumped 19 per cent Y-o-Y to Rs 85,640 crore.

Royal Orchid Hotels: The company’s arm signed agreement(s) with Masa Hotels for running and operating HOTEL MASA having 300 Keys, Restaurant, bar, Banquet halls and meeting rooms.

Suryoday Small Finance Bank: At the end of March 2024, the bank's gross advances stood at Rs 8,650 crore, up 41 per cent Y-o-Y. Total deposits, on the other hand, were up 50 pec cent Y-o-Y to Rs 7,775 crore. Loan disbursements in the reporting quarter were up 39 per cent Y-o-Y at Rs 2,340 crore.

Avenue Supermart: The company's standalone revenue from operations stood at Rs 12,393.5 crore, up 19.9 per cent Y-o-Y in Q4FY24.

KEC International: KEC International has secured new orders of Rs 816 crore across its various businesses, including Civil, Mining, Transmission and Distribution, and Cables.

Federal Bank: As per the bank's quarterly business update for three months ending March 2024, its gross advances rose 20 per cent Y-o-Y to Rs 2.13 trillion. Total deposits reached Rs 2.52 trillion, a growth of 18 per cent Y-o-Y.

Vedanta: Vedanta Aluminium has expanded its alumina refining capacity to 3.5 million tonne per annum.

GE Power: The company received orders worth Rs 774.9 crore from Jaiprakash Power.