GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 73.50 or 0.33% at 22.458 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 ended up by 189.40 points or 0.86% to settle at 22,336.50 while the BSE soared 560.29 points or 0.77% to 73,648.62.
“The Indian market extended last Friday’s relief rally as Middle East tension saw some respite, though the situation remains fluid. The recovery was broad-based across sectors, with renewed interest in mid- and small caps. Gold and oil prices showed some relief but are still at elevated levels,” said Vinod Nair, Head of Research, Geojit Financial Services.
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: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL
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Nair also added that Hawkish remarks from the US FED, driven by persistent inflation and robust economic data, spurred a rally in bond yields. The prevailing higher interest rate environment is expected to persist longer than expected which, along with the moderating earnings growth, suggests a continuation of the consolidation in the near-term.
Stocks to Watch on April 23, 2024
Reliance Industries
In the January-March quarter of the fiscal year 2023-24, the conglomerate, spanning from oil to telecom and retail sectors, recorded a consolidated net profit of Rs 18,951 crore, equivalent to Rs 28.01 per share. This figure reflects a decrease from the same period a year ago, which saw a net profit of Rs 19,299 crore, translating to Rs 28.52 per share. Company’s Oil & Gas segment witnessed a notable surge in revenue, jumping by 42% to Rs 6,468 crore. This increase was primarily fueled by higher volumes from the KG D6 block. In comparison, the segment had reported revenue of Rs 4,556 crore during the same quarter last year.
Adani Group
According to Reuters, SEBI uncovered violations related to shareholding disclosures and breach of investment limits in offshore funds associated with the Adani Group. Eight offshore funds are set to settle the charges through penalties without admitting guilt.
Indian Overseas
Indian Overseas Bank has announced plans to raise capital, aiming to collect up to Rs 1,000 crore via debt and Rs 5,000 crore through equity.
Patel Engineering
Patel Engineering initiated a qualified institutional placement (QIP) with a floor price set at Rs 59.50 per share. The company aims to raise around Rs 400 crore through this offering.
PSP Projects
PSP Projects is gearing up to launch a qualified institutional placement (QIP) to raise ₹244 crore. The indicative issue price for the QIP has been set at Rs 670.00 per share.
R R Kabel
R R Kabel’s Board approved the termination of Dinesh Aggarwal as CEO, effective immediately. Shreegopal Rameshwarlal Kabra, the company’s Managing Director, will assume the roles and responsibilities of the CEO.
IndusInd Bank
On Monday, IndusInd Bank announced the successful execution of the Reserve Bank of India’s programmable Central Bank Digital Currency (CBDC) pilot, marking the first instance of its kind by any bank.
Patanjali Foods
Patanjali Foods has incorporated two wholly owned subsidiaries, Contemporary Agro and Rishikrishi Farming, with an initial capital of Rs 20 lakh each.
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Hero MotoCorp
Arun Jaura, Chief Technology Officer of Hero MotoCorp, has tendered his resignation, effective April 30.
Tejas Networks
Tejas Networks, a domestic telecom gear-maker, recorded a net profit of Rs 146.8 crore for the fourth quarter ending March 31, 2024, compared to a net loss of Rs 11.5 crore in the corresponding quarter of the previous fiscal. The company’s revenue also soared by 343.40% to Rs 1,326.9 crore.
Mahindra Logistics
Mahindra Logistics reported a net loss of Rs 11.9 crore for the fourth quarter ending March 31, 2024, contrasting with a net profit of Rs 0.20 crore in the same period last year. However, the company witnessed a 14% increase in revenue, reaching Rs 1,450.8 crore.
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Tata Consumer Products, ICICI Prudential Life Insurance Company, Tata Elxsi, Mahindra & Mahindra Finance, MCX, Huhtamaki India, Cyient DLM, and 360 One WAM.
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Update: The Diablo 4 team are investigating reports of RTX 3080 Ti graphics cards crashing or dying while playing the game’s closed beta. Customer support says Blizzard is “working closely with Nvidia to identify affected hardware configurations and gather as many data points as possible to assist in the investigation.”
For affected users, the team offers the following advice in a forum thread:
If your card is still not working, try these troubleshooting steps:
- Conduct a complete power cycle (AC OFF->AC ON) and see if GPU can be detected under Windows.
- If GPU can be found under Windows, do a clean driver install.
Original story: Fresh reports suggest some RTX 3080 Ti graphics cards are running horribly, or even dying, while playing the Diablo 4 closed beta over the weekend.
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Lords Mobile has been home to some neat collaborations over the years: Kung Fu Panda, Pagani, and even Armored Combat Worldwide. As cool as those are, the latest crossover may be the coolest one to date: Lords Mobile x THE KING OF FIGHTERS XV.
That’s right, IGG’s MMORTS is teaming up with SNK’s bombastic fighting game to bring new Castle Skins, Leader Skins, Collab Avatars, Collab Emotes, Artifacts, and a Guild Frame across a range of events between now and July 31. Lords will be teaming up with Kyo Kusanagi and Mai Shiranui—two iconic characters from THE KING OF FIGHTERS XV roster—to conquer the Kingdoms of Athena and scoop up some limited-time goodies along the way.
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Blackbird Interactive announced today that its upcoming space opera RTS Homeworld 3 has been delayed. Instead of arriving in the first half of 2023 as expected, the studio now says it will be out in February 2024.
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And the other surprising thing is that some AMD folk I spoke to at the show didn’t seem to know that was a thing, either.
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