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Stocks to watch today: Domestic markets are likely to keep winning streak momentum intact for the fourth straight day, amid mixed global cues, and quarterly result season of India Inc.
As of 7:30 am, the SGX Nifty signaled a firm start at 17,792 levels, up 33-odd points.
Globally, the US markets were mixed overnight as they awaited big tech earnings. While Dow Jones, and the S&P 500 indices managed to close in green, NASDAQ Composite index declined 0.2 per cent.
Asia-Pacific markets, too, mirrored moves from Wall Street as Nikkei 225, and Topix indices rose up to 0.7 per cent this morning. On contrary, Kospi, Hang Seng indices dropped up to 0.4 per cent.
Meanwhile, back home here are few stocks to watch out in Tuesday's trading session:
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Earnings today: Nestle India, Bajaj Auto, Tata Consumer Products, AU Small Finance Bank, HDFC AMC, Dalmia Bharat, Nippon Life India AMC, Mahindra CIE Automotive, among others will report the January-March quarter (Q4FY23) results.
IndusInd Bank: The lender clocked 50 per cent year-on-year (YoY) jump in its standalone net profit to Rs 2,040 crore for Q4FY23, as against Rs 1,361 crore in Q4FY22. That apart, the board has also recommended a dividend of Rs 14 per equity share. Net interest income (NII), meanwhile, rose 17 per cent YoY to Rs 17,592 crore, during the quarter. READ MORE
Nykaa: The company appointed leaders for itst technology, finance, business, and marketing roles, in order to steer growth forward. P Ganesh was appointed as its new chief financial officer (CFO), while Rajesh Uppalapati as chief technology officer (CTO). This move comes after the company saw five high-profile employee exits. READ MORE
HDFC Bank: The group company recieved nod from the Monetary Authority of Singapore for the acquisition of shares in Griha Pte. Griha Pte is a wholly-owned subsidiary of HDFC Investments and a boutique private equity fund manager, which specialises in real estate private equity investments in India. READ MORE
Tata Motors: The automaker inked pact with the Kendriya Police Kalyan Bhandar (KPKB), in order to offer vehicles at special rates to more than 34 lakh police personnel across the country.
Bharti Airtel: The telecom operator inked pact with Secure Meters to deploy Narrow Band-Internet of Things (NB-IoT) services to power 1.3 million homes in Bihar via a smart meter solution.
Welspun India: The board will mull a proposal to buyback equity shares of the company at a meeting scheduled to be held on April 27, 2023. The outcome of the board meet will be informed to the exchanges as it concludes.
Mahindra Lifespace: The realty firm secured project to redevelop a housing society in Mumbai with an expected revenue potential of Rs 850 crore. The management said that the project is estimated to augur a revenue potential of around Rs 850 crore.
Sunteck Realty: The realty firm reported a 23 per cent YoY increase in sales bookings at Rs 1,602 crore for FY23. Collections, on the other hand, reached Rs Rs 1,250 crore in FY23, up 19 per cent YoY.
YES Bank: The lender plans to acquire a microfinance institution (MFI) in 18 months and open 150 branches in semi-urban and rural areas in FY24. In FY23, the bank had added 83 new branches in FY23, taking the branch count to 1,192, including 450 in semi-urban and rural areas.
IPCA Laboratories: The board approved the acquisition of 33.38 per cent of the paid-up share capital of Unichem Laboratories for Rs 1,034 crore from one of its promoter shareholders. Ipca is acquiring the stake at Rs 440 per equity share.
Tata Steel: The steelmaker is conducting a trial for hydrogen gas injection in a blast furnace at Jamshedpur Works, in order to reduce carbon emissions by cutting coke rate.The trial started on Sunday and will continue for four or five days straight.
S Chand and Company: The edu-content firm will acquire a stake in test preparation startup ixamBee (AToZLearn Edutech Private Limited). The management said that the synergy with ixamBee will help meet aspiration of future workforce of the country via quality content development, and marketing.
Tamilnad Merchantile Bank: The bank posted an 11 per cent increase in net profit at Rs 253 crore in Q4FY23, as against Rs 227 crore in the same period in FY22. NII, too, increased 8 per cent YoY to Rs 527 crore in Q4FY23.
