Stocks To Watch: Cholamandalam Finance, Dr. Reddy's, Infosys, M&M, Sobha
Here are the stocks to watch going into trade today..
Asian stocks and U.S. equity futures were steady Friday amid prospects of sharp Fed rate hikes, Russia's war in Ukraine and China's Covid outbreak. Global equities are are on course to log losses for the week.
Focus shifts to Reserve Bank of India's monetary policy commission's rate decision, scheduled at 10. India’s rate-setting panel headed by RBI Governor Shaktikanta Das may leave the benchmark repurchase rate unchanged at 4%, according to all 36 economists in a Bloomberg survey.
Shares were volatile in Japan, South Korea and Australia after Wall Street logged gains in Thursday's session. The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, was little changed at 17,743 points as of 6:45 a.m.
Oil mostly held recent losses, hovering around $101 per barrel. Bitcoin was steady around $43,600.
Meanwhile, U.S. officials warned the war in Ukraine may last for weeks or even years. European Union countries agreed to ban coal imports from Russia, the first time the bloc’s sanctions have targeted Moscow’s crucial energy revenues.
Here are the stocks to watch in today's trade:
Sobha: The company achieved best ever sales value and volume in Q4. It reported total sales value of Rs 1109.6 crore in Q4. Cash flows remained healthy during the quarter resulting in further net debt reduction. Average cost of borrowing has further come down during the quarter.
Infosys: The company along with Rolls Royce announced their joint ‘Aerospace Engineering and Digital Innovation Centre’ in Bengaluru, India. The centre is established to provide high-end research and development services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India.
Air India/IndiGo: Virgin Atlantic Airways is in code-share talks with Air India and IndiGo, said CCO Juha Jarvinen.
Sonata Software: The company appointed Samir Dhir as CEO effective from April 8 after Srikar Reddy voluntarily stepped down from the position.
Indiabulls Real Estate: The company approved the issue price of Rs 106.38 per share for its QIB offering. It expects to raise Rs 1,500 crore.
Sterling and Wilson Renewable Energy: The company reported a loss of Rs 126.30 crore in Q4 compared to loss of Rs 422.41 crore in the previous quarter. Revenue stood at Rs 1,071.03 crore as compared to Rs 1,494.86 in the previous quarter.
Cholamandalam Investment and Finance: The company reported disbursements for Q4 at Rs.12,718 crores a growth of 58% YoY. Collection Efficiency on billing improved across all Product segments and stood at 138% in Q4 of FY 22 as against 120% in Q4 of FY 21.
Hester Biosciences: The company executed Grant-in-Aid Letter agreement for grant of Rs 60 crore to the company by Biotechnology Industry Research Assistance Council, a Government of India Enterprise to support COVID vaccine manufacturing under Mission Covid Suraksha.
JSW Ispat Special Products: The company crude steel production grew 11% YoY at 1.7 lakh tons.
L&T: The company received a letter from Ministry of Corporate Affairs seeking information and documents for the period between 2003 to 2008. The letter does not refer to any governance lapses on the part of the company, it said.
Mahindra and Mahindra: The company’s debt-ridden subsidiary SsangYong Moto’s deal with Edison Motors Co. has been terminated due to Edison’s inability to deposit the bid amount as per the terms of the investment agreement.
Dr. Reddy’s Laboratories: The company received NCLT approval for amalgamation of Dr. Reddy's Holdings with the company.
BLS International: The company will consider issue of bonus shares to the equity shareholders on April 13.
Everest Industries: To consider declaration of dividend on May 28.
Pledged Shares Details
Sun Pharmaceutical Industries: Promoter Group Shanghvi Finance revoked a pledge of 30 lakh shares on April 4.
Future Consumer: Promoter Future Capital Investment invoked a pledge of 5.84 crore shares between March 29 and March 30.
Bulk Deals
Aster DM Healthcare: Indium IV (Mauritius) Holdings sold 32.86 lakh (0.65%) shares at Rs 192.35 apiece.
Zee Entertainment Enterprises:
Invesco Oppenheimer Developing Markets Fund sold 7.43 crore (7.73%) shares at Rs 281.46 apiece.
Segantii India Mauritius bought 99 lakh (1.03%) shares at Rs 281.1 apiece.
Morgan Stanley Asia Singapore Pte bought 1.01 crore (1.06%) shares at Rs 281.1 apiece.
Who's Meeting Whom
Tata Motors: To meet Canara Robeco Mutual Fund on April 8.
Trading Tweaks
Price Band Revised From 10% To 20%: Adani Green Energy, AGS Transact Technologies, Anant Raj, Borosil Renewables, Butterfly Gandhimathi Appliances, Cantabil Retail India, Dish TV India, Dynamatic Technologies, Excel Industries, GE Power India, Godawari Power and Ispat, Happiest Minds Technologies, HSIL, Jain Irrigation Systems, Jaiprakash Associates, Kirloskar Brothers, Laxmi Organic Industries, Mahindra Logistics, Manali Petrochemicals, Mahanagar Telephone Nigam, Nazara Technologies, Poonawalla Fincorp, Praj Industries, Shree Renuka Sugars, RattanIndia Enterprises, Rushil Decor, Sastasundar Ventures, Solara Active Pharma Sciences, Stove Kraft, Tanla Platforms, Tata Motors, Vardhman Holdings, Zomato
Price Band Revised From 10% To 20%: Nalwa Sons Investments
Price Band Revised From 10% To 5%: Easy Trip Planners
Price Band Revised From 5% To 20%: 3i Infotech, Ajmera Realty & Infra India, BLS International Services, CG Power and Industrial Solutions, Meghmani Finechem, Monte Carlo Fashions, Network18 Media & Investments, Steel Strips Wheels
Price Band Revised From 5% To 10%: Adani Transmission, Bajaj Hindustan Sugar, Borosil, IRB Infrastructure Developers, Lloyds Steels Industries, Orchid Pharma, Panacea Biotec, Reliance Communications, Suzlon Energy, Urja Global, Zee media Corporation
Record Date Buyback: Filatex India
Record Date Interim Dividend: Dwarikesh Sugar Industries, Angel One, DISA India, EKI Energy Services
Record Date Reduction of Capital: Supreme Petrochem
Move Into Short-Term ASM Framework: Ujjivan Financial Services, Vaibhav Global, Tejas Networks, Sunflag Iron And Steel Company, Mrs. Bectors Food Specialities, OnMobile Global, Swan Energy
Move Out Of Short-Term ASM Framework: Lemon Tree Hotels