GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Friday. Here’s a look at the key stocks to watch in trade.Come from Sports betting site
Stocks in Focus: GIFT Nifty traded down by 52.50 or 0.24% at 22,015 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 ended down by 152.05 points or 0.69% to settle at 21,995.85, while the BSE plunged 454.69 points or 0.62% to 72,488.99.
“Domestic benchmarks extended losses amid mixed sentiments, emerged from escalating geopolitical tensions in the Middle East, and as hopes of US rate cuts waned. Investors are adapting to prolonged higher US interest rates due to strength in the labour market and progress in inflation so far,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC
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Nair also added that The broader market has also witnessed profit booking, led by the weakness in heavy weight sectors like banking and FMCG. Meanwhile, investors will closely monitor the Q4 outcomes for further directions.
Stocks to Watch on April 19, 2024
Infosys
Infosys, one of India’s leading IT services companies, announced a remarkable 30% year-on-year growth in its consolidated net profit for the quarter ending March 2024. The net profit stood at Rs 7,969 crore compared to Rs 6,128 crore in the same quarter last year, with revenue from operations reaching Rs 37,923 crore, up 1% from the previous year.
Gokaldas Exports
Bengaluru-based apparel manufacturer Gokaldas Exports initiated a Qualified Institutional Placement (QIP) aiming to raise Rs 600 crore. The issue price was set at Rs 775 per share, representing a 4.05% discount to the last closing price, with a floor price of Rs 789.99.
Nestle
Nestle, the global food and beverage giant, issued a statement clarifying recent media reports and reiterating its dedication to maintaining high standards of nutrition, quality, and safety. The company emphasized that the media coverage had no significant impact on its operations or performance.
Bajaj Auto
Bajaj Auto recorded a consolidated net profit of Rs 2,011.43 crore for the fourth quarter of FY2023-24, marking an 18 percent increase from Rs 1,704.74 crore reported during the corresponding period last year.
BSE
The Bombay Stock Exchange (BSE) issued a clarification regarding a fake video circulating on social media purportedly featuring MD and CEO Sundararaman Ramamurthy. The company emphasized that the CEO does not endorse any investment advisory communication based on the circulated video.
Rail Vikas Nigam
Rail Vikas Nigam inked a Memorandum of Understanding (MoU) with Turkish engineering consulting and contracting firm TUMAS India to collaborate on public transportation and infrastructure projects in India.
ITC
ITC’s subsidiary, ITC Infotech, announced plans to acquire 100% share capital of Blazeclan Technologies for Rs 485 crore, aiming to bolster its technological capabilities.
CONCOR
Container Corporation of India (CONCOR) and PSA MESA Supply Chain signed an MoU to collaborate in offering seamless and cost-effective end-to-end logistics services to customers.
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Hindustan Construction Company
Hindustan Construction Company announced the resignation of Rahul Rao from the position of Chief Financial Officer and Key Managerial Personnel, effective April 18, appointing Girish Gangal as his successor.
SJVN
SJVN’s unit incorporated a Joint Venture (JV) named “SGEL Assam Renewable Energy Limited” with an Assam power distribution company to engage in power generation from renewable sources, including hydropower.
Hinduja Global Solutions’ unit entered into an agreement to acquire a 51% stake in Seven Star Balaji Broadband for Rs 18.36 crore, aiming to capitalize on growth opportunities in internet services, particularly in Mumbai.
Earnings in Focus Today
Wipro, Hindustan Zinc, Jio Finance, HDFC AMC, Elecon Engineering.
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