GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted 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 67 points or 0.30% at 22,580.00 indicating a weak start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 gained 80 points or 0.36% to settle at 22,514.65, while the BSE Sensex closed 350.81 points or 0.47% higher at 74,227.63.
Stocks to watch on April 05, 2024
Muthoot Finance
The Competition Commission of India is learnt to have found Muthoot Finance misrepresenting information in a complaint before it and indulging in forum shopping. The matter pertains to Muthoot Finance filing a complaint with the anti-trust regulator in 2021 against debenture trustees for allegedly exploiting its market dominance by imposing excessive fees to facilitate the issuance of non-convertible debenture (NCD).
Nestle India
The National Consumer Dispute Redressal Commission (NCDRC) has dismissed the government’s 2015 plea against the sale of Maggi noodles in favour of Nestle India, the FMCG major said in a stock exchange filing on Thursday.
Vedanta
Mining major, Vedanta reported a 4% jump in its total aluminium production for the fourth quarter of FY24 to 598,000 tonnes from 574,000 tonnes produced in the same quarter last fiscal. The company highlighted an 18 per cent increase in alumina production at its Lanjigarh refinery unit in Odisha, reaching 448,000 tonnes as a result of improved operational performance.
Dabur
On Thursday, Dabur said that the company expects its consolidated revenue to report a mid-single-digit growth during Q4FY24 on sluggish demand trends during the quarter. The revenue growth estimates, it added, also factored in the 2.3 per cent inorganic revenue growth till December 2023 on account of the Badshah Masala acquisition
Bajaj Finance
Bajaj Finance’s new loans totalled 7.87 million during Q4 FY24, a 4% increase compared to the same period last year. However, the new loans booked were lower by 0.80 million due to restrictions imposed by the RBI on certain loan products,
UltraTech Cement
On Thursday, UltraTech Cement announced the completion of a 100-megawatt solar energy project under the Group Captive Scheme in Rajasthan. “The company now has a capacity of 612 MW of renewable power and 278 MW of WHRS,” the company said in an exchange filing.
Hero MotoCorp
On Thursday, Hero MotoCorp received demand notices from the Income Tax department for around Rs 605 crore, including interest, for six assessment years.
Prestige Estates
The company acquired 21 acres of land in Whitefield, Bengaluru, for Rs 450 crore to develop a housing project and is expecting a revenue of Rs 4,500 crore over the next four years. The company said that the acquired land will be planned for residential development comprising about 1,800 apartments.
IndusInd Bank
On Thursday, IndusInd Bank posted an 18% jump in advances at Rs 3,42,857 crore during the quarter ending March. Net advances stood at Rs 2,89,924 crore in Q4, IndusInd Bank said in a regulatory filing.
