Stocks to Watch: Dmart, Tata Steel, HeroMoto, Nykaa, Equitas SFB, Godrej CP

Stocks to Watch: Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme for its staff to make the organisation agile

Equity benchmark indices may have a quiet open on Thursday ahead of the RBI's monetary policy outcome. As indicated by the SGX Nifty, which was quoting at 17,600 levels, the Nifty index may open around 20-30 points lower. 

Overnight, US markets were mixed and yields softened on worries of a recession triggered by contraction in services PMI data.  Dow Jones rose 0.24 per cent, the S&P 500, and NASDAQ Composite declined up to 1 per cent.

Asian shares also edged lower this morning. Key indices Nikkei 225, Hang Seng, the S&P 200, Kospi, and Straits times fell 0.13-1 per cent.

Meanwhile, here are some stocks to watch out in trade today: 

Dmart: Avenue Supermarts, which operates retail chain DMart, reported 20 per cent year-on-year (YoY) growth in standalone revenue from operations to Rs 10,337 crore in the quarter ended March (Q4FY23).  

Tata Steel: During Q4FY23, its consolidated steel production increased by about 3 per cent to 7.77 million tonne (MT). The company's overall steel output in the prior quarter was 7.55 MT. Total sales for Tata Steel was 7.59 MT, a decrease of 3.43 per cent from 7.86 MT during the same period in 2021–2022.

Hero MotoCorp: With a new chief executive officer (CEO) at the helm, Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme (VRS) for its staff as it aims to make the organisation ‘agile and future-ready’. READ

Ujjivan SFB: Total deposits rose 39 per cent to Rs 25,481 crore in Q4 while CASA deposits rose 35 per cent to Rs 6733 crore. Gross loan book increased by 33per cent to Rs 24,114 crore. 

Cholamandalam Investment and Finance Company: Disbursements for Q4 FY23 rose 65 per cent YoY to Rs 21,020 crore. This was Rs 66,532 crore for FY23, up 87 per cent over FY22. 

Equitas SFB: Gross advances rose 36 per cent YoY to Rs 28,061 crore in Q4FY23. Total deposits grew 34 per cent YoY to Rs 25,381 crore. Disbursements were up 80 per cent YoY to Rs 5,917 crore. 

Cyient: Its subsidiary Cyient DLM has recieved SEBI nod for Rs 740 crore IPO. 

Nykaa: Beauty e-retailer Nykaa on Wednesday said that it continued to display healthy revenue growth trends in Q4 as tier 1 consumers demonstrated sustained consumption. iIt said the beauty & personal care (BPC) business saw higher year-on-year growth rates in Q4FY23 as compared to Q3FY23. The operating parameters for the BPC business viz. average order values and conversion rates have been robust, which aided growth in revenue. “For FY23, we expect our percentage revenue growth rates to be in line with the ones seen in 9 months FY23, early-thirties”, it said. 

Reliance Industries: Reliance Retail on Wednesday entered the beauty space with the launch of Tira, an omnichannel beauty retail platform that will offer a curated assortment of the best global and home-grown brands. The country’s leading retailer will now compete with Nykaa, Tata, and LVMH’s Sephora in India’s growing beauty and personal care marketplace

Godrej Consumer: At a consolidated level, the company expects to deliver double-digit sales growth in Q4 led by mid single-digit volume growth. The growth trends continue to improve sequentially, it said. The company's India business, which contributed over 55 per cent of its overall revenue in the last quarter, had "exceeded" expectations, while in Indonesia, it was recovering gradually, it said. 

Dalmia Bharat Sugar and Industries: The board has approved setting up of a grain-based distillery at the Nigohi unit of the company with a capacity of 250 KLPD with a capital expenditure of Rs 400 crore, which is expected to be commissioned by September 2024. This would be financed by debt and internal accruals. It has further approved capacity expansion at the Ramgarh Sugar unit from 6600 TCD to 7000 TCD at a capital expenditure of Rs 14 crore. The capital expenditure will be financed by internal accruals and it is expected to be commissioned by November 2023.

Yes Bank: It has reported a credit growth of 11.3 per cent at Rs 2.01 lakh crore for the March 2023 quarter. The lender registered a 12.9 per cent growth in deposits excluding Certificate of Deposits (CDs). READ

RVNL: It has emerged as the Lowest Bidder (L1) for a project worth Rs 121 cr from North Central Railway.

Infosys: Infosys on Wednesday said it has extended collaboration with data and analytics company LexisNexis to provide information services across their range of content, enterprise and product applications.

Tatva Chintan Pharma Chem: The company has successfully commenced its commercial production from new facility at its Dahej manufacturing plant situated at Bharuch, Gujarat.