Stocks to Watch: Infosys, HDFC Bank, Tata Steel, ICICI Life, HUL, RIL, M&M

The Infosys ADR has declined over 9 per cent in the last two trading session in the US market, while our market was shut for trade, post Q4 results.

The key benchmark indices are likely to start trade with a significant gap down as stock prices react to a slew of domestic and global developments over the long trading break. As of 07:20 AM, the SGX Nifty April futures quoted at 17,285 as against the spot Nifty close of 17,475 on last Wednesday.

Earnings Watch: Mindtree, SE Power and Star Health Finance are among the nine companies scheduled to announce Q4 results on Monday.

HDFC Bank: The private sector banking major reported a 22.8 per cent YoY increase in net profit for the Jan-March quarter to Rs 10,055.18 crore, compared to Rs 8,186.51 crore the same period of the previous year. Total income was up 8.1 per cent YoY at Rs 41,085.78 crore from Rs 38,017.50 crore.

Further, the bank’s board also approved a proposal to raise up to Rs 50,000 crore by way of perpetual debt instruments (part of Tier 1 capital), Tier II capital bonds and Long-term bonds, over the next 12 months.

ICICI Prudential Life Insurance: The insurer’s Q4 net profit zoomed 189.5 per cent to Rs 184.67 crore for the quarter ended March 2022 when compared with Rs 63.78 crore in the quarter ended March 2021. Total income, however, declined 30.5 per cent YoY to Rs 13,643.73 crore from Rs 19,638.53 crore.

Infosys: The ADR shed 9.3 per cent in the last two trading sessions after the IT major reported a subdued performance in the March quarter but met its guidance for the full year. The company reported a net profit of Rs 5,686 crore in Q4, up 12 per cent YoY; but down 2.1 per cent sequentially. The IT major projected a revenue growth rate of 13-15 per cent for FY23. READ MORE

Tata Steel: The company informed BSE that it’s board shall consider split of equity shares on May 3. The board will also consider the company’s quarterly and annual earnings at the meeting along with a dividend payout, it said.

Reliance Industries (RIL): The Mukesh Ambani-led company according to sources is weighing a possible bid for Walgreens Boots Alliance Inc.’s international drugstore unit.  Boots could be valued at as much as 7 billion pounds ($9.1 billion) in a sale, Bloomberg News reported previously. READ MORE

Zomato: The food delivery major, pushed the implementation of its new food quality policy to May 3 from April 18 fearing harsh action from restaurant owiners, after the latter calling Zomato's new food quality policy one-sided. The food delivery platform has also invited feedback from restaurants on the framework of the policy by April 22. READ MORE

Coal India: The mining major plans to launch its own e-auction platform, and has accordingly informed new and existing bidders to register on the portal. E-auction sales account for around 120 MT annually for the company, while the rest is sold through fuel supply agreements and other special sales windows

IT stocks: Tier-2 IT firms likely to face sharper downgrades with clients likely to pare spends. Customers across industries may pare IT budgets as commodity inflation, wage inflation (in the US), tighter monetary conditions and reduced consumption reduce their own revenue growth. READ FULL ANALYSIS

UltraTech Cement: The major cement maker has made a strategic investment of $101.10 million (around Rs 839.52 crore) for a 29.39 per cent equity stake in the UAE-based RAK Cement Co for White Cement and Construction Materials PSC. 

HDFC: The housing lender has moved insolvency tribunal NCLT against the country's leading multi-system operator SITI Networks for an alleged default of Rs 296 crore.  SITI Networks, formerly known as SITI Cable Network, is a part of the Essel Group.

Suzlon: Wind energy equipment maker Suzlon Energy plans to raise about Rs 3,000 crore through long-term credit to refinance its existing term loans and non-fund-based limits. The company is looking at refinancing in order to streamline the lenders, avail better terms from restrictions on cash usage, and bolster growth of the business. READ MORE

Future Retail: Public sector lender Bank of India (BoI) has taken Kishore Biyani-led Future Retail Ltd (FRL) to the National Company Law Tribunal (NCLT) for initiating resolution proceedings under the Insolvency and Bankruptcy Code. The total exposure of banks is estimated at around Rs 17,000 crore. READ MORE

Hindustan Unilver (HUL): The FMCG major resorted to a second round of price hike in April, in the range of 3-20 per cent across skin cleansing and detergents. The sharpest increase was seen in Dove and Pears soap bars, which was to the tune of 20 per cent. The company has been hiking prices across its portfolio as raw material rates continue to remain elevated.

Mahindra & Mahindra (M&M): The auto maker announced a price hike across models by 2.5 per cent with immediate effect citing continuous increase in prices of key commodities such as steel, aluminium, palladium, etc. This will result in an increase of Rs 10,000 to Rs 63,000 on the ex-showroom prices across the range, depending upon the model and the variant, the company said in a statement.

Jai Balaji Industries: The company’s board is scheduled to meet on April 21 to consider and evaluate the proposal for raising funds through various options, including preferential / QIB issue.

Nirmitee Robotics India:  The company has fixed April 18 as the revised record date for the purpose of determining eligible shareholders to receive bonus shares in the 5:1 ratio; i.e. five free shares for every share held. 

Ajanta Soya: The company’s board will meet on April 20 to consider a proposal for sub-division (stock split) of equity shares.

Banswara Syntex: The company’s board shall meet on May 03 to consider a proposal for stock split among along with financial results and dividend, if any. 

Stocks in F&O ban: RBL Bank is the only stock in the F&O ban period on Monday.