The BSE Sensex and the Nifty50 may start lower on Friday amid sombre global cues. SGX Nifty futures were down nearly 200 points in early deals today after Federal Reserve Chairman Jerome Powell affirmed the central bank’s determination to bring down inflation and said Thursday that aggressive rate hikes are possible as soon as next month.
Here’re the top stocks to watch today:
Oil-linked stocks: With international benchmark Brent crude futures up 0.32 per cent to $108.68 per barrel, related stocks could hog the limelight on Thursday.
Firms such as ONGC, Oil India, and Hindustan Oil Exploration may do well on the bourses today, while BPCL, HPCL, Indian Oil Corporation, Asian Paints, Berger Paints, tyre firms, and airline stocks may come under pressure.
Company results today: Hindustan Zinc, Tata Metaliks, and 12 other companies are slated to report their March quarter results today.
ICICI Bank, Bhansali Engineering Polymers, and Indag Rubber will release quarterly earnings on Saturday.
Paytm: Retail investors’ shareholding doubled in the March quarter to 7.72 per cent, compared to 3.49 per cent in the quarter before, according to exchange filings by the digital payments company. READ MORE
RIL, Future-Group: Lenders have rejected the slump sale proposal of Kishore Biyani’s Future Group to Reliance Retail Ventures (RRVL), multiple sources confirmed to Business Standard after the e-voting was conducted on Thursday. READ MORE
ITC: Diversified entity ITC on Thursday said it will acquire 10.07 per cent stake in Blupin Technologies Pvt Ltd, the company behind direct-to-consumer(D2C) brand, Mylo for up to Rs 39.34 crore. READ MORE
HCL Tech: IT services company HCL Technologies on Thursday saw its net profit zoom to Rs 3,593 crore for quarter ended March 2022. The company’s board has declared an interim dividend of Rs 18 per share of Rs 2 each.
NBFCs: Non-banking finance companies (NBFCs) may also see some action after the RBI said that they shall need regulator’s approval for issuing credit cards.
Rallis India: The Tata Group company reported consolidated net loss of Rs 14.19 crore in Q4FY22 as against net profit of Rs 8.12 crore YoY. It recorded consolidated revenues of Rs 508 crore, an increase of 8 per cent over PY of Rs 471 crore. Separately, the Board has recommended a dividend of Rs 3 per share
i.e. 300 per cent for the Financial Year 2021-22.
Cyient: The company reported a net profit of Rs 154 crore in Q4FY22, up 49.5 per cent YoY as against Rs 103 crore in the same quarter previous year. The company’s total income rose 8 per cent YoY to Rs 1,181 crore. The Board has recommended a final dividend of Rs 14 a share on face value of Rs 5 each, aggregating to Rs 154.4 crore.
LTTS: L&T Technology Services, on Thursday, reported a 34.7 per cent YoY rise in net profit at Rs 262 crore for the fourth quarter ended March 31, 2022. Total revenues for the quarter rose 21.9 per cent YoY to Rs 1,756.1 crore. The board of directors has recommended a final dividend of Rs 15 per equity share.
Tata Communications: The company’s profit in Q4FY22 grew by 23.2 per cent YoY to Rs 369 crore on higher other income. Revenue grew by 4.6 per cent to Rs 4,263 crore in same period.
TVS Motor Company: The manufacturer of two-wheelers and three-wheelers announced an additional investment of £100 million in Norton Motorcycles, Britain’s most iconic sporting motorcycle brand, which was acquired in April 2020.
Railtel Corporation: The company has received work order from National Informatics Centre Services Incorporated in relation to assignment of work of Immigration Visa and Foreigner Registration & Tracking at a total cost of Rs 29.75 crore.
Mindtree: the company has consummated the acquisition of strategic stake of 6.64 per cent in COPE Healthcare Consulting Inc., on April 18, 2022, consequent to completion of customary conditions precedent agreed under the Stock Purchase Agreement dated April 4, 2022.
Barbeque Nation Hospitality: Everest Finance and Investment Company acquired 2,52,500 equity shares in the company at an average price of Rs 1,163 per share, and Ashish Ramesh Kacholia bought 2,53,004 shares at same price via open market transactions.