GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 160 points or 0.71% at 22,715 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Wednesday, the NSE Nifty 50 ended up by 111.05 points or 0.49% to settle at 22,753.80, while the BSE gained 354.44 points or 0.47% to 75,083.15.
“Indian markets sustained their upward momentum, buoyed by a robust performance in the broader market, albeit slightly lagging behind its Asian and European counterparts. Investor attention remains fixated on the impending release of the FOMC minutes and US inflation data later today,” 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
Also Read
Nair also added that following the release of strong US job data, market sentiments are inclined towards an anticipation of spike inflation, thereby reducing the likelihood of a near-term rate cut. Additionally, Fitch’s recent downgrade of China’s credit rating could potentially reverberate through the global economy, warranting a caution.
Stocks to Watch on April 12, 2024
Maharashtra Seamless
Maharashtra Seamless clinched a substantial work order from ONGC worth approximately Rs 674 crore. The order entails the provision of casing seamless pipes and will be fulfilled through gradual dispatches spanning 44 weeks.
Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories launched its drug-free migraine management device, Nerivio, in Germany through its subsidiary Betapharm.
Wipro
Wipro appointed Malay Joshi as the CEO for its Americas 1 Strategic Market Unit.
Phoenix Mills
The Phoenix Mills reported a 27% year-on-year jump in total consumption, reaching Rs 2,818 crore in the fourth quarter. Gross retail collections surged by 37% to Rs 791 crore. For the financial year 2024, total consumption rose by 22% year-on-year to Rs 11,327 crore, with gross retail collections up 27% at Rs 2,743 crore.
HDFC Life Insurance
HDFC Life received a GST order from the Deputy Commissioner State Tax, Dehradun, concerning erstwhile Exide Life Insurance Company Limited. The order pertains to GST compliance for the period from April 1, 2018, to March 31, 2019, with a tax demand, interest, and penalty totaling Rs 40.55 lakh.
Quick Heal
Quick Heal Technologies Ltd. joined the U.S. Artificial Intelligence Safety Institute Consortium (AISIC), becoming the only cybersecurity-focused firm from India to do so. The AISIC is dedicated to advancing AI safety and trustworthiness.
CAMS
The Reserve Bank of India granted authorization to Computer Age Management Services (CAMS) to operate as an online payment aggregator. CAMSPAY, the payment business unit of CAMS, achieved a record-setting registration of more than 1.2 million mandates for UPI Autopay in March.
L&T
Larsen & Toubro announced the completion of the divestment of L&T Infrastructure Development Projects Limited (LTIDPL), a joint venture with Canada Pension Plan Investment Board (CPP Investments).
Also Read
Varun Beverages
Pepsico bottler Varun Beverages disclosed plans to acquire up to 14% stakes each in Huoban Energy 11 Private Limited and Aspirative Creative Ventures.
M&M
Mahindra & Mahindra received an order from the Punjab Pollution Control Board regarding non-compliance with certain provisions of the Water (Prevention & Control of Pollution) Act, 1974. The company is directed to submit a Bank Guarantee amounting to Rs 50 lakh within seven days.
Bharti Hexacom
Bharti Hexacom’s shares are poised to make their debut on the stock exchanges this Wednesday, priced at Rs 570 apiece. The company’s IPO, valued at Rs 4,275 crore, garnered significant investor interest, being oversubscribed 29.88 times by the end of its third and final day.
Cupid
The company announced on April 10, 2024 that the signing of a lucrative agreement to provide 5.9 million pieces of Female Condoms (FC) in Brazil. The total value of the FC supplies amounts to US Dollars 2.773 million, equivalent to Rs 23.07 crores.
Earnings In Focus on Apr 12, 2024
Tata Consultancy Services and Anand Rathi Wealth.
