GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted opening. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 134.50 points or 0.60% at 22,452.50 indicating a weak start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 lost 234.40 points or 1.03% to settle at 22,519.40, while the BSE Sensex closed 793.25 points or 1.06% lower at 74,244.90.
Stocks to watch on April 15, 2024
Tata Consultancy Services
Tata Consultancy Services has been recording a fall in attrition from the previous sequential quarters, with it reaching a comfortable level of 12.5% in the fourth quarter. Going forward, the Tata Group company expects attrition to further fall by 30-50 basis points. The firm intends to hire 40,000 freshers this year too, its executive vice president and chief human resources officer Milind Lakkad told FE Rajesh Kurup in an interview.
Also, Tata Consultancy Services announced a robust 9.3% YoY jump in Q4 profit at Rs 12,502 crore as against Rs 11,436 crore profit in the same quarter last fiscal, surpassing estimates. The IT services major has reported Q4 revenue growth of 3.5% YoY at Rs 61,237 crore in comparison to Rs 59,162 crore.
Dixon Technologies
Dixon Technologies’ revenue from operations is expected to have risen to around Rs 18,000 crore in FY24, which is a near 50% year-on-year growth, according to people in the know. In FY23, the company’s revenue grew 14% YoY to Rs 12,192 crore.
Also, on Friday, Dixon Technologies partnered with Dassault Systemes to streamline its manufacturing processes, enhance quality control and improve production output.
Varun Beverages
On Saturday, Varun Beverages announced that it has initiated commercial production of carbonated soft drinks & energy drinks at its production facility at Gorakhpur, Uttar Pradesh.
Hindustan Unilever
The fight between HUL and Emami may intensify over the use of the Glow & Handsome men’s fairness cream trademark. HUL may challenge the Calcutta High Court’s single-bench order on April 9 restraining the use of the trademark as early as next week, sources have told FE. The appeal could be filed in front of a division bench of the court, experts said.
Vodafone Idea
On Friday, Vodafone Idea said it plans to raise up to Rs 18,000 crore through share sale in the biggest follow-on public offer. The company’s shares will be issued, under the FPO, in a price band of Rs 10-11 apiece against Friday’s closing price of Rs 12.96 on the BSE.
Bharti Hexacom
On Friday, Bharti Hexacom announced that the company’s board members, Sanjeev Kumar and Surajit Mandol, have resigned effective April 12, 2024.
Rail Vikas Nigam
Rail Vikas Nigam has received a Letter of Acceptance from NFR-CONST HQ-ELECTRICAL/N.F.RLY CONSTRUCTION for Engineering, Procurement, Construction of Design, Supply, Erection, Testing & Commissioning for Rs 95.95 crore. The work is for 50 Hz, Single Phase, AC, Electrification OHE and TSS Works of Araria – Thakurganj New line Section in connection with the New Line Project of Araria – Galgalia of N.F. Railway, including associated Works and Supply, erection, modification, testing and commissioning of SCADA.
State Bank of India
State Bank of India has approached the Reserve Bank of India to put a cap on non-banking financial companies’ lender base. Currently, many NBFCs borrow from over 50-60 lenders at the same time.