GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a weak opening. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 108.50 points or 0.48% at 22,499.50 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 lost 8.70 points or 0.04% to settle at 22,453.30, while the BSE Sensex closed 110.64 points or 0.15% lower at 73,903.91.
Stocks to watch on April 03, 2024
Mahindra & Mahindra Financial Services
Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL
On Tuesday, Mahindra & Mahindra Financial Services recorded Q4FY24 disbursements at about Rs 15,300 crore, up 11% on-year. For the full year, the disbursement came in at approximately Rs 56,200 crore, registering a growth of 13% YoY. For March 2024, the company estimates the overall disbursement at approximately Rs 6,100 crore, reporting a 9% growth over the previous year.
Vodafone Idea
Vodafone Idea CEO Akshaya Moondra on Tuesday said the promoter shareholding in the company will fall to about 40% from 50% now, post the equity fund-raise of Rs 20,000 crore. The company expects to complete the fund-raise in the coming quarter. Currently, the promoters- Aditya Birla Group and Vodafone Group –collectively hold a 48.91% share in Vi.
UltraTech Cement
UltraTech Cement, India’s largest cement producer, has earmarked Rs 32,400 crore as capex for the next three years for expansion of its production capacity, which will include completing its acquisition of Kesoram Cement. The Aditya Birla Group’s cement flagship firm intends to expand the capacity of grey cement to 198.2 million tonnes per annum (MTPA).
Shree Cement
Shree Cement’s Rs 2,500-crore Guntur plant in Andhra Pradesh was commissioned on Tuesday, six months ahead of the schedule, increasing the firm’s total manufacturing capacity to 56.4 million tonnes per annum (MTPA). The plant is expected to generate a total of 2,000 jobs.
Blue Star
Blue Star is targeting the sale of 100,000 smart AC (air-conditioner) units in FY25, a big jump over the 5,000 it sold last year. With this, the company hopes to grow its market share to 15% in FY25 from its current market share of around 13.7%.
Hindustan Zinc
On Tuesday Hindustan Zinc recorded its highest-ever quarterly refined metal production at 273 kt during the fourth quarter of FY24, up 6% sequentially. The growth, it added, was on account of better plant availability. On a yearly basis, the Q4 growth was up 1% in comparison to 269 kt during the same period last year.
HCL Technologies
HCL Technologies’ step-down wholly-owned subsidiary HCL Investments UK signed a pact with joint venture partner State Street International Holdings to divest its entire 49% holding in the JV, according to a filing.
JSW Energy
On Tuesday, JSW Energy said that it wants to raise Rs 5,000 crore through a qualified institutional placement (QIP) program. The company aims to accomplish this by selling shares to high-net-worth investors in one or more tranches.
Zee Entertainment Enterprises
Zee Entertainment Enterprises’ managing director and chief executive officer (CEO) Punit Goenka will take a 20% cut in his remuneration.
Shriram Properties
On Tuesday, Shriram Properties said its arm, Shriram Properties and Infrastructure received a penalty order worth Rs 446.79 crore from the office of the Deputy Commissioner of Income Tax, Central Circle Chennai.
