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Stocks to watch today: Strong global cues, declining crude oil prices, and the March quarter results will guide domestic markets on Friday. As of 7:10 am, the SGX Nifty suggested a positive start for the bourses at 18,048 levels, up over 50 points.
Globally, the US markets inched higher overnight as upbeat earnings from Meta Platforms lifted technology stocks. Dow Jones, NASDAQ Composite, and the S&P 200 indices surged up to 2 per cent.
Asia-Pacific markets, too, cheered in tandem this morning, with Nikkei 225, Topix, the S&P 200, Kospi, and Hang Seng indices rising up to 0.9 per cent.
Meanwhile, back home, here are top stocks to watch out in Friday's trade:
Earnings today: Ultratech Cement, SBI Cards, Star Health, Supreme Industries, M&M Financial Services, Vedant Fashions, L&T Finance Holdings, among others will report the January-March quarter (Q4FY23) results.
Godrej Consumer: The company acquired Raymond's consumer care business - Raymond Consumer Care in an all-cash deal of Rs 2,825 crore.With this transaction, Godrej will get Raymond’s marquee brands such as Park Avenue (for the consumer products category), KS (deodorants), KamaSutra, and Premium. READ MORE
Wipro: The IT services company's consolidated net profit declined 0.4 per cent to Rs 3,074.5 crore in Q4FY23 from Rs 3,087.3 crore a year ago, owing to macro uncertainties, and cut downs on discretionary spending in key verticals. Revenue from operations, however, rose 11 per cent year-on-year (YoY) to Rs 23,190 crore. READ MORE
ACC: The cement major reported 39.5 per cent YoY fall in net income to Rs 237 crore in Q4FY23, missing average analyst estimates. Revenue, on the contrary, grew 8.1 per cent YoY to Rs 4,790 crore. READ MORE
HDFC: The housing financier is likely to raise up to Rs 15,000 crore through bonds maturing in 10 years. The proposed issue is likely to have a base size of Rs 110 billion and a greenshoe option to retain an additional subscription of Rs 40 billion.
Axis Bank: The private sector lender reported a Rs 5,361 crore loss on a consolidated basis in Q4FY23, as against a net profit of Rs 4,417 crore a year ago, impacted by the Rs 12,490 crore payout towards the Citi acquisition.
Hindustan Unilever: The FMCG giant registered a 12.8 per cent YoY increase in net profit in Q4FY23, in-line with Street estimates. However, topline, operating performance, and volumes were below average analyst estimates.
IRB Infrastructure: The company bagged 158 kilometre-long Hyderabad outer ring road project under the toll-operate-transfer model for Rs 7,380 crore.
Indian Hotels: The hospitality major saw a four-fold rise in consolidated net profit in Q4FY23 to Rs 338.84 crore. The management said that the upbeat sector performance was due to higher demand over supply.
Torrent Power: The company incorporated two wholly-owned subsidiaries Torrent Urja 9 Pvt Ltd (TU9) and Torrent Urja 13 Pvt Ltd (TU13) -- for carrying out business in the power sector including renewables.
Trent: The retailer posted 65 per cent jump YoY jump in revenue in Q4FY23, driven by strong sales at its flagship retail chain Westside, and budget-friendly store Zudio.
IPCA Laboratories: The US health regulator issued three observations under 483 for the company’s formulation manufacturing facility at Piparia, near Silvassa.
NTPC: The company's arm NTPC Renewable Energy secured 500 megawatt (MW) renewable energy round-the-clock (RE-RTC) project.
Tata Steel: The steelmaker signed an agreement with A&B Global Mining to harness new business development opportunities and deliver mine technical services.
