 "Stocks to Watch today: Jio Financial, Cipla, Vi, Brigade, Vedanta, Aster DM")
Stocks to Watch on Tuesday, April 16, 2024: Indian equity markets are likely to extend fall tracking losses in global peers amid concerns over rising geopolitical tensions between Iran and Israel and a spike in US bond yields.
At 07:30 AM, Gift Nifty futures quoted around 22,184 levels, hinting at a likely gap-down of another 100 points on the Nifty 50 index this morning.
Following Iran’s drone attack on Israel, reports suggest that the latter plans to respond even as the Allies push for restraint.
Overnight in the US, benchmark indices reversed early gains and ended at the lows of the day, Dow Jones slipped 0.7 per cent. Nasdaq plunged 1.8 per cent and the S&P 500 fell 1.2 per cent at close.
Meanwhile, the US 10-year bond yield jumped to 4.6 per cent. In commodities, Gold futures rose back to $2,400 per ounce. Brent Crude Oil remained steady around $90 per barrel.
Near home, Japan’s Nikkei and Malaysia’s Kospi tumbled 1.7 per cent each. Taiwan too was down over 1 per cent.
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The mood on Dalal Street is likely to remain cautious, ahead of the trading holiday on Wednesday on account of Ram Navami.
On Tuesday, these stocks are expected to be in focus.
Results today: Crisil, Den Networks, Integra Essential, Lotus Chocolate and SG Mart to announce Q4 earnings today.
Angel One, Hathway Cable, ICICI Lombard General Insurance, Just Dial and Tata Communications to report results on Wednesday.
Jio Financial: The Mukesh Ambani led company plan to venture into the stockbroking and wealth management business through an equal joint venture (JV) with US-based BlackRock. Earlier, the two had entered into an agreement for Mutual Fund JV, they awaiting Sebi’s approval for a licence. READ MORE
Vodafone Idea (Vi): Amid the ongoing Rs 18,000 crore FPO, the company’s CEO Akshaya Moondra said Vi plans to spend Rs 5,720 crore to launch 5G wireless network in the next 24 months.
Vedanta: Has secured an 11-year term loan of Rs 3,918 crore from Power Finance Corporation. The financial closure will enable Vedanta to expedite completion of its power projects.
Aster DM Healthcare: Plans to invest around Rs 1,000 crore in India to expand its bed capacity of over 6,600 in the next three years. The healthcare company plans to add 1,700 beds by 2026-27 through organic and inorganic routes.
Brigade Enterprises: To invest Rs 400 crore to build an office complex in Chennai. It has entered into a Joint Development Agreement (JDA) with Chennai-based Agni Estates & Foundations.
Cipla: The company’s consumer healthcare arm has signed a business transfer agreement (BTA) for the purchase of the distribution and marketing business undertaking of cosmetics and personal care business of Ivia Beaute Private, which includes brands like Astaberry, Ikin, and Bhimsaini on a worldwide basis.
Ambuja Cements: In its bid to expand its footprint in the South Indian market, Ambuja to buy grinding unit in Tamil Nadu for Rs 413.75 crore from My Home Industries.
Bank of India: Inks a pact with Indian Mortgage Guarantee Corporation (IMGC) to provide mortgage guarantee-backed home loan products in the affordable housing segment.
Stocks in F&O ban today: Balrampur Chini, Bandhan Bank, Exide Industries, GNFC, Hindustan Copper, India Cement, Metropolis, National Aluminium, Primal Enterprises, SAIL and Zee Entertainment are the 11 stocks in futures & options ban period on Tuesday.