Stocks to watch today: Shares of firms like Wipro, Mindtree, Railtel, L&T, and others will be in focus in Tuesday’s trade
After four days of massive break, our markets started the week on a miserable note, taking unfavorable global cues into a consideration. The weakness extended as the day progressed and in the process, the Nifty went on to slide below 17,100. Fortunately, some respite was seen at lower levels and due to modest recovery towards the end, the Nifty ended the session with over 1.70 per cent cut, a tad below the 17,200 mark. On Tuesday, Nifty futures on the Singapore Exchange-traded 43.5 points, or 0.25 per cent, higher at 17,269.50, signaling that Dalal Street was headed for a positive start on Tuesday.
Results Today: ACC, Larsen & Toubro Infotech, Mastek, Tata Steel Long Products, PCBL, Benares Hotels, Godavari Drugs, and Longview Tea Company will release quarterly earnings on April 19.
Mindtree
IT company Mindtree on Monday said it has registered a 49.1 per cent jump in its consolidated net profit at Rs 473.1 crore in the fourth quarter of FY22 compared to the year-ago period. The company had recorded a net profit of Rs 317.3 crore in the same period of the previous fiscal.
RailTel
RailTel Corporation of India, a Mini Ratna central government PSU under the Ministry of Railways, has received a work order from Rail Vikas Nigam Limited (RVNL) worth Rs 11.57 crore for the installation of multi-protocol label switching (MPLS) virtual private networks (VPNs) at 33 locations across the country.
Rail Vikas Nigam
The firm signed a memorandum of understanding with Mahanadi Coalfields.
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SJV
State-owned SJVN on Monday said the Himachal Pradesh State Co-Operative Bank will provide a loan of nearly Rs500 crore for setting up a 66 MW hydro electric project in Himachal Pradesh.
Wipro
IT major Wipro Limited has appointed Satya Easwaran, a former senior executive at consultancy KPMG, as its India head. Easwaran will be in charge of strengthening Wipro’s business in India across key industry sectors through strategic consulting, transformation and modernisation engagements, it said in a statement on Monday.
IT stocks
Heavy sell-off in the sector on Monday could offer an opportunity for investors to make an entry.
TVS Motor
Jwalamukhi Investment on Monday offloaded TVS Motor Company’s shares worth Rs 212 crore through an open market transaction.
Mahindra Lifespace
Mahindra Lifespace Developers Ltd said it has bought 11.5 acres of land in the suburban Pimpri, in Pune. The land is estimated to have a developable potential of about 2 million sq ft of saleable area and a gross development value of Rs ,700 crore.
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Bank stocks
State Bank of India (SBI) has raised loan rates for corporates and some retail borrowers by 10 basis points, setting the stage for a wave of rate hikes across the banking sector. The rate hike, the first from India’s largest lender in more than three years, indicates the turn in the interest rate cycle, as rising inflation prompts central banks to exit easy money policies.
Oil & Gas stocks
Crude oil prices continue to remain high and are likely to have an impact on stocks of oil & gas firms.
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