 "Stocks to Watch: Jubilant Food, Avalon Tech, Just Dial, Angel One, Hathway")
Equity benchmark indices are likely to open on a flat to negative note on Tuesday after they snapped the 9-day winning rally in the previous session. As indicated by the SGX Nifty, which was quoting at 17,737 levels, the Nifty index may open around 30 points lower.
Dow Jones, the S&P 500, and NASDAQ Composite rose 0.3 per cent each overnight on late buying.
In Asia, barring Nikkei index, which gained 0.6 per cent this morning, other key indices Hang Seng, the S&P 200, Kospi, and Straits times fell 0.13-0.7 per cent.
Meanwhile, here are some stocks to watch out in trade today:
Jubilant FoodWorks: Coca-Cola India has acquired a 15 per cent equity stake in Hashtag Loyalty, the associate company of Jubilant Foodworks, for Rs 104.68 crore. Hashtag Loyalty has entered into a Securities Subscription Agreement with Coca-Cola India. Accordingly, Jubilant's stake in Hashtag has reduced from 35 per cent to 29.75 per cent.
Avalon Tech: Avalon Technologies will list on the exchanges today. The company is a fully-integrated electronic manufacturing services (EMS) company with end-to-end operations delivering box-build solutions in India. The issue price has been fixed at Rs 436 per share.
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Angel One: The company’s Q4FY23 profit surged over 30 per cent to Rs 267 crore against the same quarter last year. The company also saw an improvement in its revenue, which soared over 20 per cent to Rs 826 crore against Rs 681 crore in the same quarter last year.
Just dial: The company saw a revenue growth of 39.5 per cent year-on-year at Rs 232.5 crore, while its profit jumped a whopping 279 per cent year-on-year to Rs 83.8 crore in Q4FY23.
Hathway Cable: The company posted a loss of Rs 14.62 crore in Q4FY23 versus a profit of Rs 28.35 crore last year. Its revenue grew 2.5 per cent to Rs 459.6 crore YoY. EBITDA came 31.7 per cent lower YoY to Rs 63.1 crore and margin was 13.7 per cent vs 20.6 per cent last year.
TV18 Broadcast: Net profit in Q4FY23 dropped 75.5 per cent to Rs 35.2 crore verusus Rs 144 crore YoY. Revenue fell 6 per cent to Rs 1406 crore.
Quick Heal Technologies: The company announced that Navin Sharma has resigned as the Chief Financial Officer and his resignation will become effective from April 18. The board has also approved the appointment of Ankit Maheshwari as Chief Financial Officer of the company w.e.f. April 26, 2023.
Kolte-Patil Developers: The board of the company has approved the allotment of 20,650 non-convertible debentures to Marubeni Corporation, Japan for Rs 206.50 crore. The funds raised from this issuance will be utilized towards general corporate purposes of the company.
Samvardhana Motherson International: The company's board approved to acquire additional 30 per cent stake in Youngshin Motherson Auto Tech (YMAT) from Youngshin Components Co Ltd, Korea. Post completion of the transaction, the company will hold 80 per cent of equity share capital of YMAT and accordingly YMAT will become subsidiary of the company.
3i Infotech: The company has received a Letter of Acceptance from Indian Oil Corporation, for managed services contract. This is a part of contract renewal in the new financial year. The total contract value is Rs 16.29 crore for a period of 3 years.
Fabindia: The company has appointed Rajeshwari Srinivasan as the CEO.
Dredging Corporation of India: The company has appointed TK Ramachandran as the Chairman.
RattanIndia Enterprises: The company’s revolt motors has announced a low cost financing scheme at 5.99 per cent per annum for its electric motorcycles.
Goa Carbon: The operations at the company's Bilaspur Unit located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chhattisgarh) has resumed. The Kiln has been lit up from April 15. After preliminary heat up and commencement of feeding of raw material, normal production is likely to resume from April 17.
SBEC Sugar: The board will meet on April 22 to consider & approve the acquisition of unsecured compulsory convertible debentures of SBEC Stockholding and Investment Limited from SBEC Bioenergy Limited.
lndo Rama Synthetics (India): The company said it is partially affected due to temporary stoppage of production, in view of a strike announced by one of the Contract Labour Union.
Subex: Vinod Kumar Padmanabhan has requested an early retirement from the office of managing director and chief executive officer. He will step down from the post at close of business hours on May 1, 2023. Nisha Dutta will occupy the position of chief executive officer for one year, effective May 2, 2023
IIFL Finance: The company will consider a proposal to raise funds via non-convertible debentures through private placement, as well as the financial results for three months and year ended March 2023.