Stocks to Watch on Tuesday, April 2: The rally in domestic equities, which began last week, may take a breather on Tuesday. At 7:50 AM, Gift Nifty was down 52 points at 22,551.
Rising crude oil prices, the manufacturing PMI data for March, and foreign flows will be among the key factors driving the markets today.
Elsewhere, Asian indices are off lows with Hang Seng up 2.4 per cent, Nikkei 0.37 per cent, and Kospi 0.2 per cent.
Overnight, the 30-stock Dow Jones Industrial Average lost 0.6 per cent on Wall Street, and the S&P 500 dipped 0.2 per cent. The tech-heavy Nasdaq Composite added 0.11 per cent.
Here is a list of stocks to watch out today:
Oil-linked stocks: Lower oil supply output, and tensions in the Middle-East have lifted oil prices to five-month high. Brent crude oil is quoting near $88 per barrel-mark. Oil-linked stocks such as oil marketing companies (IOCL, BPCL, HPCL), oil exploration firms (OIL India, Hindustan Oil, RIL), users of oil derivatives (Asian Paints, Berger Paints, tyre firms) will be in focus.
Hero MotoCorp: The company sold 490,415 units of motorcycles and scooters in March, recording a decline of 5.57 per cent year-on-year. It closed FY24 with sales of 5,621,455 units of motorcycles and scooters, up 5.49 per cent Y-o-Y.
Infosys: It has received a tax demand of Rs 341 crore from the Income Tax Department for the assessment year 2020–21 (including interest).
TVS Motor Company: The two-wheeler maker sold a total of 354,592 vehicle units in March 2024, up 12 per cent Y-o-Y. Of this, total two-wheeler sales increased 12 per cent to 344,446 units, including 8 per cent growth in domestic sales.
It posted a record 14 per cent Y-o-Y growth in total sales in FY24 at 4.19 million units.
Ashok Leyland: The company’s total sales declined 4 per cent Y-o-Y to 22,866 units in March 2024.
AU Small Finance Bank: AU SFB, on Monday, completed the merger of Fincare Small Finance Bank with itself. Besides, Rajeev Yadav, former managing director and chief executive officer of Fincare SFB, has been redesignated as deputy CEO of AU Small Finance Bank.
Maruti Suzuki India: MSIL’s total production for the month of March 2024 stood at 166,730 units as against 154,148 units in March 2023.
NTPC: The power generation company has signed a supplementary joint venture agreement (SJVA) with UP Rajya Vidyut Utpadan Nigam (UPRVUNL) to provide existing UPRVUNL land to the joint venture company, MUNPL, for the Obra-D (2X800 MW) and Anpara-E (2X800 MW) projects on a lease basis at a nominal rate of Re 1 per acre per year, aiming to reduce power tariffs.
Telecom data: Reliance Jio added 4.17 million mobile subscribers in January 2024; Bharti Airtel increased its wireless subscriber count by 7.52 lakh; Vodafone Idea lost 1.52 million wireless users.
IIFL Finance: IIFL Finance has received approval from the National Stock Exchange of India (NSE) to acquire shares aggregating up to Rs 284.4 crore of the bourse from FIH Mauritius Investments Ltd.
Ireda: Ireda recorded the highest-ever loan sanctioned at Rs 37,354 crore in FY24, and loan disbursement at Rs 25,089 crore. With this, total loan book stands at Rs 59,650 crore, up 26.71 per cent Y-o-Y, at the end of FY24.
For Q4FY24, loans sanctioned stood at Rs 23,796 crore, and loan disbursements were Rs 12,869 crore.
CSB Bank: The lender recorded a 17.9-per cent Y-o-Y growth in gross advances at Rs 24,574 crore for Q4FY24. Its total deposits, meanwhile, rose 21.27 per cent to Rs 29,719 crore. Of this, CASA grew 2.5 per cent and term deposits 30.17 per cent.
Bharat Dynamics: BDL recorded a turnover of Rs 2,350 crore for the financial year ended on March 31, 2024, down from Rs 2,489.39 crore in FY23, mainly on account of current geopolitical situation prevailing in Europe and the Middle East, which has affected the supply chain of the company.
The order book position of the company as on April 1, 2024 is Rs 19,468 crore.
South Indian Bank: The bank’s gross advances increased 11.44 per cent Y-o-Y to Rs 80,337 crore at the end of Q4FY24, and total deposits 11.21 per cent to Rs 1.01 trillion. CASA improved 8 per cent Y-o-Y.
JTL Industries: It posted its highest-ever sales volume in FY24, reaching an unprecedented 341,846 MT. JTL increased its sales of value-added products by 34.45 per cent on year, climbing from 74,243 MT in FY23 to 99,818 MT in FY24.
NMDC: The company recorded iron ore production of 4.86 million metric tons in the month of March 2024, down 13.2 percent over the previous month.
Jubilant Pharmova: The company has received orders for a tax demand of Rs 228.75 crore for the Income Tax Department.
First Published: Apr 02 2024 | 8:04 AM IST