Stocks to watch: ONGC, IGL, MGL, RIL, L&T, Titan, Adani Group, Delta Corp

Stocks to Watch: Shares of city gas distributors are likely to be in focus today as they react to government's nod for new pricing regime.

Stocks to Watch Today: The markets are likely to start trade on a positive note amid steady global cues. At 07:00 AM, the SGX Nifty April futures quoted at 17,695, indicating an opening gain of 45-odd points.

Meanwhile, the following stocks are likely to be in action in trades on Monday.

Earnings Watch: Delta Corp is scheduled to report March quarter results on Tuesday, April 11.

City Gas Distributors: Shares of gas distribution companies such as Gail India, Indraprastha Gas (IGL), Mahanagar Gas (MGL), ONGC and Oil India are likely to be focus as the companies reduced prices a day after the government officially notified lower domestic natural gas prices as proposed by the Kirit Parikh panel. Last week, the Centre decided to impose a floor price of $4 per MMBtu (Metric Million British Thermal Unit) for the next two years, to cover the cost of gas production by state-run firms ONGC Ltd and OIL Ltd. The ceiling price will be set at $6.5 per MMBtu. READ MORE

 

Reliance Industries (RIL): After making its entry into carbonated beverages and home and personal care, Reliance Consumer Products (RCPL) is now putting together a plan to get into the dairy and frozen foods market with focus on value-added products like curd, frozen desserts, ice creams, and flavoured yogurt. READ MORE

Larsen & Toubro (L&T): The engineering and infrastructure major emerged as the lowest bidder for the redevelopment of New Delhi railway station. L&T submitted a bid of Rs 8,740 crore for the mega project, which is over Rs 3000 crore higher than the Centre’s estimate. READ MORE

Titan: The company’s revenue grew by 25 per cent YoY in the March quarter. It’s jewellery division also grew 23 per cent YoY. 

Adani Wilmar: The company clocked a near 14 per cent growth in volume last fiscal to take its revenue past the Rs 55,000 crore mark.

Apollo Micro Systems: The company has fixed May 4 as the record date to split its shares in ratio of 1:10.

CMS Info Systems: The firm has set sights on an annual turnover of Rs 5,000 crore by 2030, up from the estimated Rs 1,600 crore in FY23. It is looking to foray into new business lines, such as collection and recovery services. 

Sugar: Shares of sugar companies could see some action amid rising ex-mill sugar prices in India. Prices have surged by almost Rs 150 – Rs 200 per quintal over the past month; however, retail prices are expected to remain around Rs 42 per kg for some time now. 

Adani, GMR group companies: Two Uttar Pradesh power distribution companies (discoms) have cancelled the bids of Adani and GMR group companies to supply smart meters under the state’s Rs 25,000-crore road map. READ MORE

Vedanta: The government is considering giving conditional clearance to the Vedanta-Foxconn joint venture semiconductor fab plant. The nod is likely to come with some stiff riders. READ MORE