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 just 112 points or 0.50% at 22,693 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 172.35 points or 0.76% to settle at 22,475.85 while the BSE plunged 732.96 points or 0.98% to 73,878.15.
“Profit booking and a degree of caution ahead of the release of the US non-farm payroll resulted in selling pressure in the market. However, the absence of significant negative surprises in Q4 earnings thus far, along with a decline in oil prices, might help to mitigate the downside,” 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: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers 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
Also Read
Will Nifty trade above 22,650 after positive global cues, or consolidate ahead? See GIFT Nifty, FII data, F&O ban, crude, more before market opens
Nair also added that though the correction was broad-based, the large-cap stock was the key underperformer due to the moderation of FIIs exposure to the domestic market.
Stocks to Watch on May 6, 2024
Britannia Industries
In Q4FY24, the company reported a marginal growth in revenue, reaching Rs 4,069 crore, a 1.14% increase from the previous period’s Rs 4,023 crore. However, EBITDA declined by 1.67% to Rs 787 crore compared to Rs 801 crore, leading to a 55 basis points reduction in margin to 19.35% from 19.9%. Net profit also saw a decrease of 3.76%, settling at Rs 537 crore compared to Rs 558 crore. Britannia Industries also declared a dividend of Rs 73.5 per share.
Kotak Mahindra Bank
The Net Interest Income stood at Rs 6,909 crore, whereas the private sector bank reported net profit of Rs 4,133.3 crore. During the quarter, provisions worth Rs 157 crore were released for AIF. However, write-offs totaling Rs 1,455 crore in the retail and unsecured book contributed to Gross NPA. The quarter also witnessed a favorable tax credit of Rs 200 crore. Notably, Gross NPA decreased to 1.39% from 1.73% in December, while Net NPA remained flat at 0.34%.
Titan Company
In Q4FY24, the company reported a 20.59% jump in revenue to Rs 12,494 crore, marking a substantial increase from the previous period’s Rs 10,360 crore. EBITDA stood Rs 1,191 crore up by 9.36% compared to Rs 1,089 crore previously. However, the margins declined by 97 basis points to 9.53% from the previous 10.51%. The net profit jumped by 4.75% to Rs 771 crore, up from Rs 736 crore.
Tata Technologies
In Q4FY24, the company’s revenue jumped by just 0.89% increase to Rs 1,301 crore from Rs 1,289 crore in the previous quarter, EBIT stood at Rs 211 crore up by 0.76% compared to Rs 209 crore. However, the margins declined 2 basis points at 16.21% versus the previous 16.23%. The net profit dropped by 7.62% to Rs 157 crore from Rs 170 crore. Whereas the board has recommended a final dividend of Rs 8.
Inox Wind
In Q4FY24,Inox wind’s revenue surged by 176.66% to Rs 528 crore vs Rs 191 crore in the corresponding period. EBITDA stood 102.2 crore vs previous year’s loss of Rs 30.92 crore. The margin stood at 19.36%. The company reported a net profit of Rs 36.7 crore vs loss of Rs 119.04 crore in the previous year.
Adani Energy
Adani Electricity Mumbai’s subsidiary successfully concluded the acquisition of a 100% stake in Pointleap Projects.
HDFC Bank
The Reserve Bank of India (RBI) has granted approval for the re-appointment of Atanu Chakraborty as the part-time chairman for a term of three years, commencing from May 5.
Vodafone Idea
The company plans to prioritize the expansion of its 4G network in 17 key circles as part of its strategy to enhance competitiveness..
Dr Reddy’s
The company has revealed the introduction of Doxycycline capsules in the US market.
Also Read
EXPLAINER: Confidential IPO filing: What it implies for firms & investors
Life Insurance Corp
IRDAI has granted permission for the company to replenish excess expenses from policyholders’ accounts, effective from the first quarter of FY25 across various segments.
Aurobindo Pharma
From April 25 to May 3, the USFDA conducted an inspection of Unit II at the company’s Rajasthan facility and concluded with seven observations.
DCM Shriram
The company has commissioned its Caustic Soda Expansion Project in Gujarat, making the Bharuch complex the largest caustic soda facility in the country, thus driving economies of scale.
Yes Bank
CA Basque Investments divested 59.40 crore shares, equivalent to 2.06% of shares, at Rs 24.27 apiece, whereas Goldman Sachs (Singapore) PTE.- ODI acquired 36.92 crore shares, representing 1.28% of shares, at Rs 24.26 apiece.
Key Earrings Today
Godrej Consumer Products, CG Power and Industrial Solutions, Lupin, Indian Bank, Marico, Gujarat Gas, Gujarat Fluorochemicals, Grindwell Norton, Happiest Minds Technologies, Route Mobile, Arvind, Prudent Corporate Advisory, Fusion Micro Finance, GHCL, Cartrade Tech, Arvind Smartspaces, DCM Shriram.
Related Posts
IT company Persistent Systems’ share price on Monday tumbled 9.7% to Rs 3,510.60 on the BSE, after the company guided for flat Ebit margins in FY25. This was the biggest single-day drop in the company’s stock price in the last six years.
The company also reported a flat Ebit margin of 14.5% during the March quarter, against a market expectation of margin improvement during Q4.
Sunil Sapre, CFO and executive director, Persistent Systems, said margin did not improve because of the deal ramp-ups in BFSI, healthcare and a couple of deals in the software high-tech segment, which led to a significant increase in headcount on site.
Category expansion for q-comm firms may happen at a slow pace Automotive sector slowdown, macroeconomic woes hit ER&D companies’ growth in Q1 Somanathan named next Cabinet secy: Moving from being a deft manager of govt finances to key Cabinet aide Indexation benefit on property NOT restored! You …
The Indian equity indices on Monday closed flat after a rangebound session. The Nifty 50 closed 33.15 points or 0.15% lower at 22,442.70. Sensex gained 17.39 points or 0.02% to close the day’s trading at 73,895.54. The losers included Titan Company, Adani Enterprises, BPCL, Coal India, and SBI. The Indian Volatility Index (India VIX) shot up 13.54%, indicating investor uncertainty and fear in the market.
Sharp drop in sectoral indices
The Nifty Midcap lost 273 points or 0.54% to finish the session at 50,662.20. Following the trend, Nifty Bank closed in the red, down 28.25 points or 0.06% at 48,895.30.
On the sectoral front, PSU bank and consumer durables pulled the indices lower. In the broader market, smallcap and midcap stocks closed in the red.
PM Modi expresses ‘concern’ over Ukraine, West Asia conflicts; advocates for peace talks Markets edge higher in range-bound session! Nifty over 24,800, Se…
Investors may have to prune their returns’ expectation from equities post Budget as the market could enter consolidation phase after the bumper post-election rally seen in the last one month, said market experts.
As the BSE Sensex closed above the historic 80,000 points mark for the first time on Thursday, it has also set another record: The 30-stock index registered its best post-election rally since 2009 with over 11% gains in a monthCome from Sports betting site. In this one month, investor wealth has soared by Rs 52.5 trillion, rising in all but three trading sessions.
On Thursday, Sensex closed 0.1% higher at 80,049.67 points. The Nifty also ended 0.1% higher at 24,302.15 points. Market participants said investors seem to have factored in most of the positives ahead of the Budget, leaving little room for upside in the near-term if the announcements in the Budget are along expected lines.
Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed the trading session on a negative note on May 28. The BSE Sensex fell 262 points or 0.35% to finish the day’s trading at 75,128.52, while the NSE Nifty 50 closed 64.10 points or 0.28% lower at 22,868.35. Bank Nifty closed up 222.65 points or 0.45% at 49,059.15. Nifty Midcap 100 closed in the red down 498 points or 0.94% at 52,263.85.
Live Updates
15:30 (IST) 28 May 2024
Markets today at close
The NSE Nifty 50 closed 0.28% lower at 22,868.35, while the BSE Sensex closed 0.35% higher at 75,128.52.
Actor Joseph Quinn (Stranger Things), is reportedly in talks to join the cast of the upcoming Gladiator sequel. The Hollywood Reporter was first to report.
The Ridley Scott film may see Quinn play Roman Emperor Caracalla, adding to the impressive lineup of actors already signed on for the project. Paul Mescal is set to lead the movie as Lucius, the son of Lucilla (Connie Nielsen) and nephew of Commodus (Joaquin Phoenix), while Denzel Washington and Barry Keoghan are also confirmed for the film. Djimon Hounsou is expected to reprise his role as Juba, a former ally of Maximus (Russell Crowe).
The original Gladiator movie, released in 2001, was a critical and commercial success, grossing $460 million at the box office and winning five Oscars, including Best Picture and Best Actor for Crowe. The upcoming sequel, which has been in development for several years, is being produced by Scott Free and Red Wagon Entertainment, with David Scarpa writing…
The Backbone One is one of our favorite mobile gaming controllers and right now it’s on sale for $70, down from its usual $100 price, for Prime Day. We featured the controller on our list of the best phone controllers for mobile gaming. It’s comfortable to hold, is easy to use, widely compatible with many games, and connects directly to your phone which means you don’t have to worry about maintaining a charge or connecting via Bluetooth. The direct connection also reduces lag.
Purchasing the Backbone One also gives you a year of access to its Backbone+ subscription service. Subscriptions can be annoying, but Backbone+ offers some nice additions including helping you manage your mobile game collection and easily take screenshots and video clips of gameplay. It also comes with a month of Xbox Game Pass Ultimate for new subscribers and is fully compatible with Xbox’s game streaming options on your mobile phone.Come from Sp…
One of the most popular sportsbooks and iGaming software providers, Altenar, partnered with the renowned betting platform SpinBet, expanding to New Zealand, which is a significant step towards the global expansion the company is seeking.
New Zealand expansion:
SpinBet will have a chance to incorporate the advanced Altenar products into its offering in New Zealand. The main focus will be on the company’s fantastic horse racing offering, but other services will be included as well.
SpinBet is currently the biggest betting platform in the country. It offers various services, including online casino, SpinBit, as well as a range of classic table games and live games that capture the hearts of the players.
Online total gross gambling yield (GGY) in Great Britain reached £1.30 billion (€1.51 billion/$1.62 billion) in the last quarter of the financial year (Q4), climbing five percent from the same period the year prior, while improvement was also seen in GGY for the brick-and-mortar sector, according to a recent gambling behavior report published by the UK Gambling Commission (UKGC)
The reporting period covered activity for the months of January, February, and March of 2023, a period that included the popular horse racing event, the Cheltenham Festival.
Likely Contributor
Commission data showed an increase of 5 percent in online total GGY in Q4 over the same period the year prior. The government agency attributed the swell in online GGY, for the most part, to growth in real-world event betting and slots. Increases in the total number of bets and spins along with a rise in average monthly active accounts, were also noted.
Meanwhile, online real event betting in…
The renovations on the Potawatomi Casino Hotel’s permanent sportsbook are about to begin. The construction will be located on the northwest corner of the casino, and the new entertainment area will replace the Northern Lights Theater and the Fire Pit Sports Bar & Grill.
Dominic Ortiz, CEO of Potawatomi Casinos and Hotels, said: “This is a transformational time at Potawatomi Casino Hotel. For more than three decades, we have served as a leader in Tribal gaming. With the addition of sports betting, we’ll be providing our guests with even more options and welcoming new visitors to the property and the Menomonee Valley.”
The plans for the Sportsbook venue:
<…
The Mohegan Tribe will officially step down from its management role at Atlantic City’s Resorts casino at the conclusion of 2024, both sides revealed on February 26.
End of deal:
This step will end the contract that the Mohegan Gaming Advisors, the gambling arm of the aforementioned tribe, offiically entered into with Resorts back in 2012, and which occured 6 months following the death of the co-owner of the casino, Dennis Gomes, the veteran gambling executive. In addition, Gomez’s death caused Resorts to be left without much-needed experience and knowledge to participate in the increasingly crowded casino market in the US northeast.
The successful operation of the tribe’s casinos in various markets involving Pennsylvania and Connecticut attracted Resorts, which led to it becoming the 1st casino in America to officially open outside of the Silver State during 1978. At the moment, the casino can thrive independently.
In …