Stocks To Watch: RIL, HCL Tech, ICICI Prudential, Hindustan Zinc, Vodafone Idea, Siemens, India Grid, PVR

Stocks to watch before going into trade today.

Anjali Rai

21 Apr 2023, 06:37 AM IST

Stock chart at the background of coins and pen on a book (Source: jcomp, FreePik)

Asian equity markets were poised for declines on Friday after technology stocks dragged Wall Street and bonds rose on data showing softening labour market, housing and a gauge of business outlook.

Futures for equity benchmarks in Australia, Japan and Hong Kong all signal markets will open lower. S&P 500 futures were little changed as of 8:22 a.m. Tokyo time, while the S&P 500 fell 0.6%. Nasdaq 100 futures rose 0.1% while the Nasdaq 100 fell 0.8%. Hang Seng futures fell 0.6%. S&P/ASX 200 futures fell 0.5% and Nikkei 225 futures fell 0.2%.

Meanwhile, U.S. stocks declined as the labour market, housing and a business outlook measure showed signs of softening. The S&P 500 fell 0.4%, while the tech-heavy Nasdaq 100 declined 0.2% by 12:42 p.m. in New York. The yield on 10-year Treasuries declined six basis points to 3.53%.

Crude price fell 2.6%, and gold price gained 0.5%. Bitcoin lost 2.2% to trade around $28,600 level.

On the other hand, domestic benchmark indices—the Sensex and Nifty—closed higher, on Thursday, for the first time this week, supported by gains in media, consumer durables and private banks stocks.

The Indian rupee bounced back from its three-day decline against the U.S. dollar as domestic equities ended in green and crude prices softened.

Foreign investors were net sellers for the fourth day in a row on Thursday and offloaded equities worth Rs 1,169.32 crore, according to data from the National Stock Exchange. On the other hand, domestic institutional investors turned buyers after a day and bought stocks worth Rs 832.72 crore.

At 6:12 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.15% at 17,692.

Stocks To Watch: RIL, HCL Tech, ICICI Prudential, Hindustan Zinc, Vodafone Idea, Siemens, India Grid, PVR

Earnings

HCL Technologies Q4 FY23 (Consolidated, QoQ)

Revenues down 0.35% at Rs 26,606 crore (Bloomberg estimates: Rs 26,855.67 crore)
EBIT down 7.5% at Rs 4,836 crore (Bloomberg estimates: Rs 4,965.79 crore)
EBIT margin at 18.18% vs 19.58% (Bloomberg estimates: 18.49%)
Net profit down 2.76% at Rs 3,983 crore (Bloomberg estimates: Rs 3882.68 crore)
The board recommended an interim dividend of Rs 18 per share for the current fiscal.

ICICI Prudential Life Insurance Company Q4 FY23 (Consolidated, YoY)

Revenue down 17% at Rs 11,500 crore (BBG estimate: Rs 18,117 crore)
Net profit rose 26% at Rs 235 crore (BBG estimate: Rs 223 crore)
VNB up 27.8% at Rs 2,765 crore (full year)
VNB margin at 32% Vs 28% (full year)
The insurer recommended a final dividend of Rs 0.60 per share, subject to approval at the upcoming AGM.

Cyient Q4 FY23 (Consolidated, QoQ)

Revenue up 8.23% at Rs 1751.4 crore (Bloomberg estimate: Rs 1730.60 crore)
EBIT up 16.87% at Rs 249.4 crore (Bloomberg estimate: Rs 232.25 crore)
EBIT margin at 14.24% vs 13.19% (Bloomberg estimate: 13.42%)
Net profit up 4.62% at Rs 163.2 crore (Bloomberg estimate: Rs 164.44 crore)
The board announced a final dividend of Rs 16 per share for the 2023 fiscal.

Sterling and Wilson Renewable Energy Q4 FY23 (Consolidated, YoY)

Revenue down 91.74% at Rs 88.43 crore
Ebitda loss of Rs 352.12 crore vs Ebitda loss Rs 124.24 crore
Net loss more than doubled to Rs 421.11 crore.

Results

Reliance Industries, Hindustan Zinc, Tejas Networks, Tanfac Industries, Wendt (India), Rajratan Global Wire.

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Stocks To Watch

Rail Vikas Nigam/Siemens: The consortium of Rail Vikas Nigam and Siemens received two separate orders from Gujarat Metro Rail, for phase 1 of Surat Metro and phase 2 of Ahmedabad Metro. Siemens share in the order is Rs 678 crore.
Suven Pharmaceuticals: The Competition Commission of India approved acquisition of 76.1% stake of the company by Berhyanda.
Vodafone Idea: The company appointed Kumar Mangalam Birla as additional director with effect from April 20, 2023.
India Grid Trust: International Finance Corporation subscribed to a listed NCD issuance of the company, worth Rs 1,140 crore.
Cyient: The company appointed Prabhakar Atla as chief financial officer, with effect from April 21, 2023.
Laxmi Organic Industries: The board approved the proposal to raise funds through equity and/or debt, as well as borrow Rs 2,000 crore.
Finolex Cables: The company will set up a plant in its Urse facility in Pune at a cost of Rs 290 crore to produce optical fibre preforms with initial capacity of 100 tonnes.
Greenpanel Industries: The company resumed manufacturing operations at MDF plant in Rudrapur, Uttarakhand on the April 19. The plant was closed on April 1 for routine maintenance.
PVR: The name of the company has been changed to PVR-Inox with effect from April 20.

Bulk Deals

PNB Housing Finance: Nippon India Mutual Fund bought 5 lakh shares (0.55%) and Goldman Sachs Investment sold 5 lakh shares (0.55%) at Rs 133 apiece.
Speciality Restaurants: Forest Vincom bought 2.50 lakh shares (0.52%) at Rs 232.7 apiece.
Nikamal: Cello Pen & Stationary sold 98,859 shares (0.66%) at Rs 1,916.99 apiece.

Trading Tweaks

Ex-Date Interim Dividend: EID Parry (India), Mold-Tek Packaging, Nestle India
Record Date Interim Dividend: EID Parry (India), Mold-Tek Packaging, Nestke India
Ex-Date Final Dividend: Nestle India
Record Date Final Dividend: Neste India
Move Into Short-Term ASM Framework: IOL Chemicals and Pharmaceuticals
Move Out Short-Term ASM Framework: Black Box, Mangalore Chemicals & Fertilizers.

F&O Cues

Nifty April futures ended at 17,655 a premium of 5.35 points.
Nifty April futures rose 0.08% and 142 shares in Open Interest.
Nifty Bank April futures ended at 42,270 a discount of 91.60 points.
Nifty Bank April futures rose 3.19% and 2,947 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Nil