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Stocks to Watch on Friday, April 12, 2024: Indian equity markets are likely to exhibit volatility in today’s trading session amid mixed cues from global peers as hopes of a rate cut in the US faded.
Meanwhile, the European Central Bank (ECB) too decided to hold interest rates steady and await confirmation that inflation was indeed under control.
Back home, TCS will kick-off the Q4 earnings season and is expected to set the tone for the IT sector.
At 07:30 AM, Gift Nifty futures quoted below 22,700 levels, indicating a likely gap-down of 100-odd points on the Nifty 50 index.
Among commodities, Gold futures topped the $2,400-mark, and Brent Crude was steady around $90 per barrel.
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Meanwhile, here are the stocks that are expected to see some action on Friday.
TCS: The IT major is expected to report the strongest quarterly performance among its peers. Analysts expect reversal of furloughs and incremental contribution from the BSNL and other deals to fuel the revenues. READ PREVIEW
Bharti Hexacom: To debut on the bourses today. The Grey Market Premium indicates a listing gain of up to 15 per cent for the stock.
Wipro: Appointed Malay Joshi as the Chief Executive Officer (CEO) of its 'Americas 1' Strategic Market Unit (SMU), effective immediately. Joshi succeeds Srini Pallia, who has been elevated as Wipro’s CEO and Managing Director (MD).
Vodafone Idea: The company’s Rs 18,000 crore FPO to open for subscription on April 18 and close on April 22,
Maharashtra Seamless: Has bagged an order worth Rs 674 crore from ONGC for casing seamless pipes.
PVR Inox: Announced the launch of a 14-screen megaplex at Bengaluru’s Phoenix Mall.
Bank of Baroda (BoB): The state-run lender has increased its marginal cost of fund-based lending rate (MCLR) by 5 basis points across three tenures. The one-year MCLR has risen to 8.85 per cent, while the six-month and three-month MCLR rates have been increased to 8.65 per cent and 8.45 per cent, respectively.
FMCG: Skymet’s prediction of a good monsoon this year has given FMCG companies a reason to cheer, as they expect a better FY25 compared to FY24. Rural demand is already witnessing an uptick.
Varun Beverages: To buy up to 14 per cent equity stake in Huoban Energy 11 and Aspirative Creative.
Stocks in F&O ban today: Balrampur Chini, Exide Industries, Hindustan Copper, Vodafone Idea, India Cement, National Aluminium, SAIL and Zee Entertainment are the eight stocks in futures & options ban period on Friday.
