GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 48 points or 0.21% at 22,638 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 ended down by 150.40 points or 0.67% to settle at 22,419.35 while the BSE plunged 609.28 points or 0.82% to 73,730.16.
“Markets witnessed profit taking on Friday and shed over half a percent, tracking feeble global cues. After the flat start, the Nifty gradually inched lower as the day progressed and finally settled around the day’s low at 22,419.95 (-0.7%). Meanwhile, a mixed trend was witnessed on the sectoral front wherein pharma, realty and IT posted decent gains while financials and banking ended in the red. The broader indices outshined the benchmark and gained in the range of 0.6%-0.8%,” said Ajit Mishra – SVP, Research, Religare Broking.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility
Also Read
Will Nifty scale up above 22,650 or more downfall in store? See GIFT Nifty, FII data, F&O ban, crude, more before market opens
Mishra also added that The intermediate volatility is normal during the earnings season and mixed global cues are further adding to the choppiness. We suggest continuing with stock-specific trading approach and utilizing dips to add quality names.
Stocks to Watch on April 29, 2024
ICICI Bank
The bank disclosed a net profit of Rs 10,757.5 crore, with net interest income reaching Rs 19,092.8 crore. Gross Non-Performing Assets (NPA) decreased to 2.16% from 2.3% in December, while net NPA reduced to 0.42% from last year’s 0.44%. Management noted ongoing discussions with the RBI regarding IT infrastructure and periodic feedback. They anticipate Net Interest Margins (NIMs) to stay within a certain range until there’s a revision in repo rates.
Maruti Suzuki
The net profit recorded Rs 3,877.8 crore, falling short of the anticipated Rs 4,104 crore. Margin fell short of estimates by 120 basis points, standing at 12.2%. However, year-on-year, the margin saw an improvement of 170 basis points. The company announced a dividend of Rs 125 per share. Profit growth reached 47.8% compared to the previous year but was constrained by increased tax expenses.
Yes Bank
Indian private lender YES Bank posted a 123% year-on-year surge in net profit in Q4FY24, soaring to Rs 452 crore from Rs 202.4 crore in the corresponding quarter last year, significantly exceeding analysts’ forecasts. Net Interest Margins (NIM) remained stable at 2.4% for Q4FY24, consistent with the preceding quarter. The bank witnessed notable enhancement in asset quality, with the Gross Non-Performing Asset (GNPA) ratio declining to 1.7% and the Net Non-Performing Asset (NNPA) ratio dropping to 0.6%.
HCL Technologies
The FY25 revenue growth forecast is anticipated to range between 3% to 5% year-on-year, which falls short of CNBC-TV18’s projected growth of 5% to 7%. Constant currency revenue growth stood at 0.3%, compared to December’s 6% and lower than the expected 0.4%. The EBIT margin of 17.6% also trailed behind the estimated 18.3%. Company management clarified that the growth guidance is weighted towards the latter part of the year.
RBL Bank
RBL Bank has reported its highest operating profit growth in 21 quarters, along with the lowest Gross NPA and Net NPA in 13 quarters. The credit-deposit ratio is the lowest in six quarters, while RoA and RoE are the highest in 19 quarters. Net Interest Income met expectations, while net profit marginally exceeded forecasts. Slippages amounted to Rs 680 crore, up from Rs 666 crore, and write-offs totaled Rs 721 crore, up from Rs 356 crore.
L&T Finance
L&T Finance’s Net Interest Income of Rs 1,909 crore fell short of Equirus’ estimates of Rs 1,955.2 crore, while net profit of Rs 554 crore also missed expectations of Rs 661.6 crore. Disbursements increased by 24.8% year-on-year and 3.4% sequentially to Rs 15,366 crore, with Asset Under Management (AUM) growing by 5.7% year-on-year to Rs 85,564 crore. Gross NPA decreased to 2.84% from 2.95%, and Net NPA decreased to 0.62% from 0.64%.
Small Finance Banks
The Reserve Bank of India (RBI) has called for applications from Small Finance Banks (SFBs) meeting specified criteria, including a minimum net worth of Rs 1,000 crore, to become regular or universal banks. This includes approximately a dozen SFBs, such as AU Small Finance Bank, Equitas Small Finance Bank, and Ujjivan Small Finance Bank.
Macrotech Developers
Macrotech Developers has obtained approval from the National Company Law Tribunal (NCLT) for its resolution plan for V Hotels. Under the plan, the company will pay Rs 900 crore over 270 days. The first tranche of Rs 90 crore has already been remitted.
Also Read
Near-term returns may be constrained
Adani Enterprises
Adani Enterprises’ Mauritius-based arm has finalized the acquisition of a 49% stake in Abu Dhabi-based Adani Esyasoft Smart Solutions for $24,500.
Vodafone Idea
ATC Telecom Infrastructure sold 144 crore shares (2.95%) of Vodafone Idea at Rs 12.78 apiece, while Citigroup Global Markets Mauritius acquired 49.12 crore shares (0.98%) at Rs 12.7 apiece.
Key Earnings Today
UltraTech Cement, Trent, KPIT Technologies, Poonawala Fincorp, Tata Chemicals, Birlasoft, PNB Housing Finance, KFIN Technologies, Can Fin Homes, Shoppers Stop, Vesuvius India, Spandana Sphoorty Financial, Rossari Biotech, UCO Bank, and Gillette India.
Related Posts
Green-and-black game hardware maker Razer announced today that it's acquired Nextbit, a California-based startup responsible for the "Robin" (pictured) Android-powered smartphone.
This is a notable purchase for Razer, which in recent years has snapped up both THX and Ouya as it launched first an Android-powered micro-console and then its own VR headset.
While the terms of the deal have not been disclosed, game makers should be aware that the folks at Nextbit intend to cease selling their Robin smartphone and work as an independent division within Razer.
"Nextbit will operate as an independent division inside Razer, focused on unique mobile design and experiences," reads a Nextbit blog post attributed to company chief Tom Moss. "To put it…
Microsoft has embarked on a new multiplatform direction for several of its Xbox games, and former PlayStation boss Shawn Layden believes that this new initiative could work in the company’s favor if handled correctly–much like it has for Sega. Layden believes that Microsoft can benefit from having a wider market to sell its games to as part of its new multiplatform strategy, but the downside to this is that it could possibly make it harder for the company to attract more people to its platform.
“Multiplatform is a strategy, particularly in a world where the cost of development is increasing dramatically,” Layden said to YouTube channel Kiwi Talks. “Multiplatform means widening your addressable market, as the marketing guys say. How do you create the fear of missing out, trying to do that by bringing everyone to your platform? Saying, ‘If you’re not here you’re missing out,’ but if it’s available on all platforms, that’s one of your marketing tactics. You can’t say it’s only a…
Nintendo historically holds Nintendo Direct briefings in February, and it seems that tradition will continue this year. Podcaster NateTheHate has reported that Nintendo will host a Nintendo Direct event focused on games for the original Switch sometime next month.
He said this during the same podcast where he correctly predicted the Nintendo Switch 2 reveal event would take place on January 16. Brazilian journalist Pedro Henrique Lutti Lippe backed up this reporting (via VGC), saying a Nintendo Direct for Switch 1 games is coming in February.
As for what games Nintendo could highlight if it does indeed host a Nintendo Direct in February, that’s anyone’s guess, but some possibilities include Pokemon Legends: Z-A, Xenoblade Chronicles X Definitive Edition, and Metroid Prime 4: Beyond, among other possibilities.
Beyond the OG Switch Nintendo Direct event supposedly on tap for February, Nintendo has confirmed a Nintendo Direct for the Switch 2 is coming on April 2, 20…
Just over a year ago, the performers in SAG-AFTRA went on strike against the major Hollywood studios and streamers over a variety of issues including a lack of AI protections Come from malaysia online casino . Now, the actors are on strike again against video game studios whom they claim have refused to offer the same AI protections that SAG-AFTRA secured following last year’s strike.
“We’ve made deals with the studios and streamers,” said SAG-AFTRA national executive director Duncan Crabtree-Ireland during an interview with the Associated Press. “We’ve made deals without a strike with the major record labels and with countless other employers, which provide for informed consent and fair compensation for our members. And yet, for some reason, the video game companies refuse to do that and that’s what’s going to be their undoing.”
SAG-AFTRA members authorized a strike last week after negotiations between …
Alan Wake 2 is coming this October, adding another entry in the growing Remedy universe. The studio recently showed a new cinematic trailer at the PlayStation showcase, and now has followed up with our first look at gameplay during Summer Game Fest.
The gameplay demonstration confirmed Remedy isn’t messing around when it called this its first survival-horror game. With a slower, creepy pace, a camera closer to the character, and lengthier enemy encounters, it resembles something more like Resident Evil than the original Alan Wake. One of Alan Wake 2’s marquee new features is the new playable character, Saga Anderson Come from online casino bangladesh . Watch as she explores an abandoned general store in the woods near Cauldron Lake before taking on, well, a Taken. Then, after she narrowly escapes with her life, you’ll see some new investigative gameplay built around the FBI agent’s background.
…
Best Buy is offering steep discounts on a variety of PlayStation, Xbox, and Switch games, including hits such as Deathloop, Dying Light 2, and more. It’s unclear how long the big price cuts will last, so we’d recommend looking at the catalog now and seeing if anything catches your eye.
If you’re yet to check out Halo Infinite, consider picking it up while it’s on sale Come from bangladesh online casino . Not only is it currently discounted to just $25 (down from $60), but you’ll also get a steelbook and an in-game weapon skin. A similar steelbook deal is available for Doom Eternal, too, with the game listed for just 15 bucks.
Dying Light 2 released earlier this year, and it’s already on sale for just $40. Given how massive Dying Light 2’s world is, you’re getting a lot of g…
Fire Emblem spent years in relative obscurity in the West, known mostly for the appearance of some swordfighters in Super Smash Bros. Melee. That changed in 2013 with the release of Fire Emblem: Awakening, the series’ first big breakout hit in North America. Since then the tactical RPG has become one of Nintendo’s most popular and critically-acclaimed series. The latest entry in the series, Fire Emblem: Three Houses, was named one of our Best Games of 2019. So needless to say, a new Fire Emblem is enough to get us very excited.
Fire Emblem Engage is that new game, a fresh entry in the long-running series that pays special homage to its own history. This game centers a major story and gameplay mechanic around summoning characters from past Fire Emblem games, letting us see some of our favorites or learn about characters from games that passed us by. Here’s everything we know about Fire Emblem Engage.
Story
Like many antholog…
Shares of Happiest Minds Technologies dropped over 8% to an intra-day low during early trade on Tuesday as 1.27 crore shares, or 8.3% equity, worth Rs 1,076 crore, changed hands in a large trade at an average price of Rs 847 per share. The share price fell 8.69%, hitting an intra-day low of Rs 837.55 on the NSE.
On Monday, June 24, CNBC-TV18 reported that the IT firm’s promoter and executive chairman, Ashok Soota, had initiated a block deal to sell a 6% stake in the company, with the total offer size amounting to Rs 754 crore.
Also Read
IT and Realty stocks top picks for Geojit Financial ahead of Budget 2024
According to media reports, the floor price for the sale was set at Rs 826 per share, representing a 10% discount to the last closing price. Kotak Securities is the sole broker for the transaction. Sources added that there is a six-month lock-up period on the residual stake held by Soota.
Primary steel producers could report ma…
The Initial Public Offer (IPO) of Jyoti CNC Automation got subscribed 3.92 times on the second day of bidding on Wednesday. The IPO received bids for 6,87,09,015 shares against 1,75,39,681 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) received 11.08 times subscription while the portion for non-institutional investors got subscribed 6.49 times. The quota for Qualified Institutional Buyers (QIBs) attracted 22 per cent subscription.
Jyoti CNC Automation on Monday raised Rs 448 crore from anchor investors. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The public issue, with a price band of Rs 315-331 per share, will conclude on Thursday.
Byju assures employees of speedy resolution, says he’s not a fugitive, will raise personal debt if required Vision for ‘Viksit Bharat’ by 2047 laid out: India Inc reacts to PM Modi’s I-Day speech Ola Electric IPO fully subscribed on Day 2 Ceiga…
By Riyank Arora
On Tuesday, the benchmark index opened with a gap up of around 98 points and fell nearly 122 points towards the closing. The Nifty ended 23 points lower, while the Sensex was down by 58 points. Among sectors, the Nifty Auto Index led the fall, with the Metal stocks performing well, trading positively.
Media stocks witnessed significant profit booking in Tuesday’s session. Technically, the market is trading well above its support level of 22,600. The major resistance lies at 22,800 levels. Overall, the trend remains positive as we trade above the minor support mark of 22,700 as well.
Stock Recommendations:
MCX BUY | CMP: 3732.10 | TARGET: 3900.00 | SL: 3700.00
The stock has given a falling wedge breakout on its daily charts, indicating good signs of momentum and strength.
Market rally leads to higher regulatory fees for stock exchanges Is the world prepari…