Stocks to Watch: Bajaj Finance, RIL, ONGC, HDFC Bank, IndusInd, HCL Tech

Stocks to Watch: ONGC, Oil India, Reliance will be in focus as the Centre has slashed windfall tax on domestically produced crude oil to nil from Rs 3,500 a tonne, effective from April 4

Equity benchmark indices are looking to open with minor cuts on Wednesday tracking weakness across global markets as manufacturing and jobs data in the US disappointed investors. As indicated by the SGX Nifty, which was quoting at 17,514 levels, the Nifty index may open around 50 points lower. 

In the US, Dow Jones, Nasdaq Composite, and the S&P 500 indices dropped over 0.5 per cent each.

Asia-Pacific markets were mixed this morning. While the S&P 200 index logged marginal gains, Nikkei 225, Topix, Kospi indices lost up to 0.8 per cent.

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

 

ONGC/Oil India/RIL/ refiners: The Centre has slashed windfall tax on domestically produced crude oil to nil from Rs 3,500 a tonne, effective from April 4. It has also reduced the levy on diesel to 50 paise per litre from Rs 1. The move means crude oil, aviation turbine fuel (ATF), and petrol will not attract windfall tax.

Bajaj Finance: Loans booked by the consumer financier jumped 20 per cent year-on-year (YoY) to 7.6 million in January – March quarter (Q4) of FY23, taking the total loans booked by the lender in the financial year (FY23) to 29.6 million, its highest ever in a year. READ

HCL Tech: J.P.Morgan on Tuesday placed the IT services provider on "negative catalyst watch" ahead of the earnings season, citing the highest near-term risks for the company. READ

IndusInd Bank: The private lender's net advances improved 21 per cent YoY in Q4 to Rs 2.9 lakh crore, while it reported a 15 per cent growth in deposits to Rs 3.36 lakh crore. The CASA ratio stood at 40.1 per cent. 

HDFC Bank: The bank’s deposits grew 20.8 per cent YoY to Rs 18.84 lakh crore in Q4, while this was up 8.6 per cent QoQ. The bank’s advances stood at Rs 16.01 lakh crore, up 16.9 per cent YoY. 

M&M Finance: The company reported strong momentum in disbursals and collection efficiency in Q4. The NBFC’s business assets stood at Rs 2.13 lakh crore, up 17.4 per cent YoY. Overall disbursements rose 50 per cent to Rs 13,750 crore. 

Marico: The company said that its India business witnessed some improvement in volume growth on a yearly basis in Q4. The FMCG added its consolidated revenue grew in the low single digit yearly.

Bandhan Bank: The bank has recorded 9.8 per cent yearly rise in advances for Q4 to Rs 1.09 lakh crore. Deposits came 12.2 per cent higger at Rs 1.08 lakh crore. 

South Indian Bank: The bank has reported a 16.65 per cent YoY growth in gross advances to Rs 72,107 crore, while total deposits grew  2.82 per cent YoY to Rs 91,652 crore. 

Vedanta: The company said its aluminium production touched record levels of 22.91 lakh tonnes during 2022-23, marginally up from 22.68 lakh tonnes in the preceding fiscal. The production of zinc from international business rose 22 per cent year-on-year to 2.73 lakh tonne in Q4. 

Hindustan Zinc: The company's refined metal production rose three per cent to the highest-ever level of 269 kilotonnes in Q4. Mined metal production and integrated zinc production increased by two percent each.

The Federal Bank: The lender reported strong growth across key financial metrics for the quarter ended March 2023. The bank's customer deposits increased by 13.3 per cent, while total deposits grew by 17.4 per cent. 

Suryoday Small Finance Bank: The SFB reported 21 per cent growth in gross advances at Rs 6,115 crore in Q4. Disbursements rose 72 per cent and total deposits rose 34 per cent.

Nazara Tech: Company's subsidiary Nodwin Gaming has acquired 51 per cent stake in Singapore-based firm Branded Pte.

HG Infra: It has received a Letter of Acceptance dated from Rail Vikas Nigam for a project with bid cost of Rs. 466.11 crore.

Cyient: The board of the company has appointed Krishna Bodanapu as the Executive Vice Chairman & MD of the company, and appointed Karthikeyan Natarajan as ED & CEO of the company.

Astra Microwave Products: It has received an order from IMD for Rs. 32.97 crore.

NBCC (India): The company has been awarded an order worth Rs 448.02 crore. 

RailTel Corp :The company received a contract from Bihar State Electronics Development Corporation for Rs 76.10 crore. The company also secured an order worth Rs 38.95 crore from National Informatics Centre Services Inc. 

Indigo Paints: The company will acquire 51 per cent stake in construction chemical firm Apple Chemie

Britannia Industries: The company's board has declared an interim dividend of Rs 72 per share for FY23.