Buzzing stocks: The SGX Nifty hinted that Indian share market will open on a flat-to-positive note. Here’s a look at some of the key stocks to watch.
Stocks in focus: The SGX Nifty gained 0.1% in trade on Thursday morning, signaling that domestic indices NSE Nifty 50 and BSE Sensex would open on a flat basis. Nifty futures were 18 points higher on the Singaporean exchange at 18,196. After trading in the green, Nifty 50 and Sensex erased their gains to end lower. Nifty gave up 52 points in trade, closing at 18,130 while Sensex declined 130 points or 0.2% to 61,432.
Read More: State Bank of India: How to open a PPF account on SBI
“Positive developments in debt-ceiling negotiations in the US had a favourable impact on global market sentiments. However, the domestic market experienced a subdued mood in the latter half, mainly attributed to the mixed earnings reported by sector majors. India’s VIX at lower levels indicates market stability, instilling confidence in investors and encouraging long-term investment,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks to Watch on 19 May, 2023
SBI
State Bank of India (SBI) posted fiscal fourth quarter profit at Rs 18,343.25 crore, up 83.5% in comparison to Rs 9,993.76 crore in the same quarter last year, beating estimates. It posted a total income of Rs 1,36,852.39 crore during the fourth quarter, up 26.7% from Rs 1,08,034.68 crore in Q4FY22.
Read More: PAN-Aadhaar Link Check: Know Status Online Before Last Date, Step-By-Step Guide
ITC
ITC reported a rise in profit of 23.4% on-year for Q4FY23 to Rs 5,175.48 crore, against Rs 4,195.69 crore on-year. The board also recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share.
GAIL (India)
GAIL (India) posted a profit fall of 81.5% on-year, to Rs 642.74 crore in the fiscal fourth quarter of FY23 against Rs 3473.77 crore in the corresponding quarter in FY22. The company had posted a 90% on-year decline in profit for the December quarter to Rs 397.59 crore, owing to losses in the petrochemical and gas marketing business.
Pfizer
Pfizer, an American pharmaceutical company, has warned doctors in India to stop using life-saving antibiotics, Magnex, Zosyn, Magnamycin injections and Magnex Forte in ICUs. The pharma company said it observed ‘out-of-specification’ deviations during its routine environmental monitoring at Astral SteriTech’s manufacturing block.
Jubilant FoodWorks
Jubilant FoodWorks is gearing up to launch Domino’s Pizza on the government’s Open Network for Digital Commerce (ONDC) platform. “We are organising ourselves to launch Domino’s on ONDC. Wherever customers are, we want to serve them with Domino’s Pizza,” Sameer Batra, president and chief business officer at Jubilant FoodWorks.
Read More: Invest Rs 45 every day, get Rs 25 lakh through this LIC policy, here’s how
Zydus Lifesciences
Zydus Lifesciences reported a 25.36% decline in consolidated net profit at Rs 296.6 crore for Q4FY23 as it was impacted by impairment of goodwill of a wholly-owned subsidiary. The company posted a consolidated net profit of Rs 397.4 crore in Q4FY22.
PNB Housing Finance
PNB Housing Finance reported an almost 65% jump in its fourth-quarter profit, led by increased demand for housing loans.
