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Stocks to Watch: HCLTech, Cyient, Siemens, RIL, Suven Pharma, Voda Idea

Stocks to Watch today: HCLTech reported better-than-expected results for Q4FY23. The company posted a net profit of Rs 3,983 crore for the quarter, down 2.8% QoQ and up 11% YoY

Sensex, Nifty, BSE, NSE, stock market

Harshita Singh New Delhi

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Equity benchmark indices eyeing a flat to positive open on Friday nothwithstanding weakness in the US overnight. As indicated by the SGX Nifty, which was quoting at 17,668 levels, the Nifty index may open around 30 points higher. 

Overnight, disappointing earnings from Tesla pulled US markets as the Dow Jones dropped 0.33 per cent and the S&P 500, and Nasdaq fell 0.6 per cent and 0.8 per cent, respectively.

Asia-Pacific markets traded mixed this morning. Nikkei 225, and Topix indices gained marginally while the S&P 200, Kospi, and Hang Seng indices fell up to 1 per cent.

Meanwhile, here are some stocks to watch out in trade today: 

Q4 earnings today: Reliance Industries, Aditya Birla Money, Hindustan Zinc, Tejas Networks, Bheema Cements, Metalyst Forgings, Rajratan Global Wire, and Wendt (India). 

HCLTech: HCLTech reported better than expected results for Q4FY23. The company posted a net profit of Rs 3,983 crore for the quarter. This was up 10.8 per cent year-on-year (YoY). Sequentially, profit was down 2.8 per cent. Revenue for the quarter grew 17.7 per cent YoY at Rs 26,606 crore, although revenue growth was flat sequentially. 

Cyient: Cyient Ltd posted a net profit of Rs 163 crore in Q4FY23, up 5.5 per cent YoY. The net profit was up 4.5 per cent sequentially. The revenue from operations in Q4 climbed 30 per cent YoY to Rs 1,751.4 crore.

Vodafone Idea: After a hiatus of nearly 2 years from the company, Aditya Birla Group (ABG) chairman Kumar Mangalam Birla has been inducted back as a non-independent and non-executive additional director, subject to shareholder approval.

Sterling & Wilson Renewable Energy: The firm reported a consolidated loss of Rs 417.5 crore for the fourth quarter ended March 31, 2023. The company had reported a net loss of Rs 126.3 crore in the year ago period. Its revenue from operations also declined 91.7 per cent to Rs 88.4 crore in Q4FY23.  

ICICI Prudential Life Insurance: The insurer reported a 27 per cent growth in net profit in January-March quarter of FY23, aided by a robust growth in value of new business (VNB). Net profit for the quarter stood at Rs 235 crore in Q4FY23, compared to Rs 185 crore in the year ago period. 

Insurance companies: Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India’s premiums, albeit on a high base. READ

Suven Pharmaceuticals : The Competition Commission of India (CCI) on Thursday said it has cleared Berhyanda Ltd's acquisition of a 76.10 per cent stake in pharmaceutical firm Suven Pharmaceuticals Ltd. Berhyanda Ltd is a wholly-owned subsidiary of Berhyanda Midco Ltd, which is an affiliate of Advent International Corporation.

Greenpanel Industries: The company resumed manufacturing operations at MDF plant in Rudrapur, Uttarakhand on the April 19. The plant was closed on April 1 for routine maintenance.

Rail Vikas Nigam/Siemens: The consortium of Rail Vikas Nigam and Siemens received two separate orders from Gujarat Metro Rail, for phase 1 of Surat Metro and phase 2 of Ahmedabad Metro. Siemens' share in the order is Rs 678 crore. 
 
India Grid Trust: The company announced that the International Finance Corporation (IFC) has subscribed to a listed NCD issuance of IndiGrid aggregating to Rs 1,140 crore. With a total tenure of 18 years, the NCDs were priced at a competitive rate that is fixed for a long tenure. IndiGrid plans to utilize this debt for funding its upcoming refinancing opportunities in FY24. 

Oberoi Realty: The company's booking value came at Rs 6,023 crore vs Rs 632 crore QoQ in Q4FY23. For the period from January 1, 2023 to March 3, 2023, Oasis Realty sold 63 units amounting to Rs 3,403 crore of booking value to Oberoi Realty. 

Laxmi Organic: The company's board has approved borrowing up to Rs 2,000 crore. 

Finolex Cables: The electrical and telecommunication cables manufacturer would set up a plant at the Urse facility in Pune to produce optical fibre preforms as well as expand on its fibre draw capacity. The plant with an initial capacity of 100 tons of preforms, is being set up at a cost of Rs 290 crore and would be funded entirely out of internal accruals.

Oricon Enterprises: The company has reached an amicable settlement with the Labour Union and consequently the company will resume operations in a phased manner for manufacturing of Crowns and Pilfer proof caps at its Murbad Plant w.e.f. April 22.
 
Texmaco Rail & Engineering: The company has entered into a binding Joint Venture Agreement with NYMWAG CS to manufacture freight wagon and/or its components.

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First Published: Apr 21 2023 | 7:56 AM IST

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