Stocks to watch: Shares of firms like RIL, Paytm, Tata Elxsi, Adani Ent, HDFC Bank, Hero MotoCorp, and others will be in focus on Tuesday’s trade.
Stock To Watch On April 23: Equity markets traded with a positive bias as Nifty opened gap up for the second consecutive day and picked up momentum on Monday. In today’s trade, shares of Tata Consumer, ICICI Pru, RIL, Adani Enterprises, Hero MotoCorp among others will be in focus due to various developments and quarterly results.
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Tata Consumer, ICICI Pru, Tata Elxsi, M&M Finance, 360 One Wam, MCX, Cyient DLM
Shares of Tata Consumer, ICICI Pru, Tata Elxsi, M&M Finance, 360 One Wam, MCX and Cyient DLM will be in focus as the companies will announce their fourth quarter results today.
Reliance Industries: Missing analysts’ estimate, Mukesh Ambani-promoted Reliance Industries reported a 1.8 per cent year-on-year (Y-o-Y) decline in its consolidated net profit for Q4FY24 because of higher tax expenses. At Rs 18,951 crore, the net profit, however, was nearly 10 per cent higher sequentially. The energy-to-entertainment conglomerate’s revenue in Q4 increased by 11.1 per cent from a year ago to Rs 2.37 trillion, which was up 5.1 per cent quarter-on-quarter.
Adani Enterprises: According to a Reuters’ report, market regulator Sebi has discovered that twelve offshore funds, which had invested in Adani group companies, had violated disclosure regulations and exceeded investment limits.
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According to the report, eight of these offshore funds have submitted a written request to the regulator, seeking to resolve the charges by paying a penalty without admitting guilt.
Paytm: The fintech giant, on Monday, launched two Made-in-India soundboxes for UPI and credit card on UPI payments.
HDFC Bank: Japan’s Mitsubishi UFJ Financial Group (MUFG) is considering sweetening its $1.7 billion offer for a minority stake in HDFC Bank’s non-banking unit, a Bloomberg report said on Monday.
Both the sides are looking to reach an agreement for a 20 per cent stake in HDB Financial Services in about a month.
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Wipro: The company’s step-down unit Synchrony Global has been voluntarily dissolved.
Hero MotoCorp: CTO Arun Jaura resigned from his position effective April 30.
Inox Wind: Inox Wind has secured an order to supply 210 MW of its wind turbines for a project in South India. The order was placed Indian independent power producer Hero Future Energies (HFE).
KP Energy: KP Energy has received an order for development of 9MW wind power project forming part of the wind-solar hybrid power project to be developed in Gujarat. The project was awarded by Bhathwari Technologies.
Indian Overseas Bank: The company to raise up to Rs 1,000 crore via debt and Rs 5,000 crore via equity
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