Stocks to Watch on April 22: RIL, HDFC Bank, Wipro, Tata Group, Laurus Labs

Stocks to Watch on Monday, April 22, 2024: Reliance Industries, Rallis India, Mahindra Logistics, Hatsun Agro Product, and Tejas Networks will announce their March quarter earnings today

Stocks to Watch on Monday, April 22: After a roller coaster week, equity markets are looking for a promising start on Monday.

At 7:25 AM, Gift Nifty futures were up 114 points at 22,243 levels.

Elsewhere in Asia, all key benchmark indices in the region were ruling in the positive territory. The gains were led by ASX200 of Australia, and Hang Seng of Hong Kong, which were up 1 per cent each.

Futures of the S&P 500, meanwhile, rose 0.3 per cent. Nasdaq 100 futures gained 0.4 per cent, while those for the Dow Jones Industrial Average added 0.3 per cent.

Here is a list of stocks to watch today:

Q4FY24 results on April 22: Reliance Industries, Rallis India, Mahindra Logistics, Hatsun Agro Product, and Tejas Networks will announce their March quarter earnings on Monday, April 22, 2024.

In a Bloomberg poll, 12 analysts estimated RIL’s consolidated revenue at Rs 2.35 trillion and six analysts estimated net income adjusted at Rs 19,873 crore. READ PREVIEW HERE

HDFC Bank: The private sector lender reported 37.1 per cent growth in net profit for the quarter ended 31 March 2024 to Rs 16,512 crore. Net interest income, meanwhile, grew by 24.5 per cent to Rs 29,080 crore while core net interest margin was at 3.44 per cent on total assets, and 3.63 per cent based on interest earning assets.

Wipro: The IT company on Friday, post market hours, reported a net profit of Rs 2,835 crore for Q4FY24, down 7.9 per cent Y-o-Y/up 5 per cent Q-o-Q. Revenue for the quarter was Rs 22,208.3 crore, 4.2 per cent less on a Y-o-Y basis.

Jio Financial Services: Jio Financial Services Ltd reported a consolidated net profit of Rs 310.63 crore in Q4FY24, up 5.72 per cent sequentially. Consolidated revenue from operations was flat at Rs 418 crore.

Other March quarter result reactions: Sterling and Wilson Renewable, Bhansali Engineering Polymers, HDFC AMC, Ireda, Amal, and Benares Hotels.

Ultratech Cement: The cement major will buy a grinding unit from India Cements, with a capacity of 1.1 million tonnes per annum (mtpa), in Mahrashtra for a consideration of Rs 315 crore.

Tata Group stocks: The conglomerate's stocks would be in focus on Monday amid a Bloomberg report that Tata Group may strike a deal to take control of Pegatron Corp.'s iPhone manufacturing operations in India as soon as May.

NTPC: A massive fire broke out at NTPC's North Karanpura superthermal power plant in Jharkhand's Chatra district, officials said on Friday. The installation is a 660X3 mw coal-based power plant.

Meanwhile, in a separate development, the company's fully owned subsidiary NTPC Green Energy, and Indus Towers have signed a memorandum of understanding (MoU) to address the need for pacing green energy objectives.

Tata Steel: NCLT has approved the amalgamation of Angul Energy with the company.

Laurus Labs: Laurus Labs said that its API Manufacturing facility situated in Parawada, Anakapalli (Vishakapatnam), Andhra Pradesh has cleared the US Food and Drug Administration (USFDA) inspection with zero observations.

Sterlite Technologies: An arbitrator has rejected broadband technology company Sterlite Technologies' claims worth Rs 145 crore against BSNL in an optical fibre cable laying project.

Central Bank of India: The company signed an agreement with Aditya Birla Sun Life AMC for the distribution of mutual fund products.