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Stocks to Watch on Tuesday, April 30, 2024: Trends across global markets, coupled with stock-specific action back home amid the March quarter (Q4FY24) results announcement, will guide the domestic markets on Tuesday. At 7:40 AM, Gift Nifty was up 36 points at 22,787 level.
In Asia, markets largely rose on Tuesday, tracking Wall Street moves. Japan's Nikkei was up 1.7 per cent, South Korea's Kospi gained 0.6 per cent, and Hong Kong's Hang Seng, and Australia's ASX200 added 0.3 per cent each.
Overnight, the S&P 500 rose 0.32 per cent, the Nasdaq Composite added 0.35 per cent, and the Dow Jones Industrial Average added 0.38 per cent ahead of the US Federal Reserve's meeting on April 30-May 1.
Here is a list of stocks to watch today:
Q4FY24 results on April 30, 2024: Indian Oil Corp, REC, Havells India, Indus Towers, Cholamandalam Investment and Finance Co, Indus Towers, Procter & Gamble Hygiene & Health Care, Sona BLW and Precision Forgings, Star Health and Allied Insurance, Exide Industries, Vedant Fashions, Five-Star Business Finance, Castrol India, IndiaMART InterMESH, Nuvoco Vistas Corp, Newgen Software Technologies, Gravita India, Symphony, Neogen Chemicals, Adani Total Gas, Central Bank Of India, and IFCI will report their Q4FY24 results today, April 30, 2024.
Poonawalla Fincorp: The non-bank finance company (NBFC) reported its highest-ever net profit of Rs 331.7 crore in the March quarter of FY24 (Q4FY24). This was a growth of 83.6 per cent year-on-year (Y-o-Y). Net interest income (NII) increased 57 per cent Y-o-Y to Rs 640.5 crore, along with asset quality improvement.
Tata Chemicals: The Tata Group company reported q net loss of Rs 841 crore in Q4FY24 vs a profit of Rs 692 crore last year.
The loss came on the back of a non-cash write down of assets aggregating to a total of Rs 963 crore, which has been disclosed as an exceptional loss, in the Soda ash and Bicarb operations in the United Kingdom.
Other result reactions: Uco Bank, Rossari Biotech, Can Fin Homes, Kfin Tech, Shoppers Stop, Indostar Capital Finance, Gillette India, Jana Small Finance Bank, and Birlasoft.
JNK India listing: The company's stock is set to debut on the bourses on Monday, April 30. Its issue price has been fixed as Rs 415, and grey market suggests a listing gain of 30 per cent.
Rashtriya Chemicals and Fertilizers: Cabinet Committee on Economic Affairs (CCEA) has approved the revised total equity investment of Rs 2,169.67 crore in Talcher Fertilizer's project as against earlier equity investment of Rs 1,184.20 crore.
RITES: The company has received a letter of acceptance (LoA) from Bangladesh Railway in connection with the supply of 200 Broad Gauge (BG) Passenger Carriages to Bangladesh Railways. The contract is valued at $111.26 million with a stipulated execution period of 36 months.
Patanjali Foods: Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why an input tax credit worth Rs 27.46 crore should not be recovered from it.
In a separate development, the drug regulator of Uttarakhand has suspended the manufacturing licences of 14 products made by Baba Ramdev's Patanjali Ayurved citing misleading advertisements about their efficacy.
NMDC: The company has reportedly increased prices of lump ore by Rs 400 per tonne to Rs 6,200 per tonne and fines by Rs 200 per tonne to Rs 5,260 per tonne.
M&M: Mahindra & Mahindra has launched XUV 3XO, starting at Rs 7.49 lakh. Bookings for the XUV 3XO will open from May 15 and deliveries will begin from May 26.
RVNL: Rail Vikas Nigam Ltd, in a 49:51 joint venture with Kerala Rail Development Corporation Ltd (KRDCL), L has received a letter of acceptance (LoA) from Southern Railway for the redevelopment of Thiruvananthapuram Central Railway Station. The project cost is Rs 439.95 crore.
KEC International: It has secured new orders worth Rs 1,036 crore in the domestic and international markets.
Coromandel International: The company commenced activity to set up its phosphoric acid and sulfuric acid plants at Kakinada, Andhra Pradesh.
Thomas Cook: The company and SOTC have successfully operated their inaugural charter to Bhutan from Bengaluru on April 27 at 100 per cent capacity.
