GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a weak opening. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 115.00 points or 0.51% at 22,493.00 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 gained 135.10 points or 0.61% to settle at 22,462.00, while the BSE Sensex closed 363.20 points or 0.49% higher at 74,014.55.
Stocks to watch on April 02, 2024
Aditya Birla Fashion and Retail
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL
Aditya Birla Fashion and Retail has been quietly shoring up the retail presence of Reebok, the sportswear brand whose distribution rights it acquired in December 2021 for India and South East Asian countries at an estimated Rs 100 crore from the Authentic Brands Group, Reebok’s new owner
Maruti Suzuki
Maruti Suzuki registered a domestic sale of 1,52,718 passenger vehicles in March 2024, witnessing a YoY growth of 15%, as compared to selling 1,32,763 units in March last year. During FY23, the company’s total domestic passenger vehicle sales stood at 16,06,870 units compared to 17,59,881 units sold in FY24, registering a 9.5% growth.
Ashok Leyland
Ashok Leyland posted its March sales with total domestic sales at 21,317 units, reporting a 7% decline compared with 22,885 units in March 2023. At 14,517 units, domestic MHCV sales reported a Y-o-Y decline of 9% against 15,936 units in March 2023. Ashok Leyland sold 6,800 units of LCVs in March 2024, 2% less than the 6,949 units sold in March 2023.
Hero MotoCorp
On Monday, Hero MotoCorp reported a 5.5% growth in total sales at 56,21,455 units in 2023-24 as compared to the previous fiscal. The company had sold 53,28,546 units in 2022-23, the company said in a statement.
AU Small Finance Bank
On Monday, AU Small Finance Bank amalgamated Fincare Small Finance Bank, marking the first such consolidation in the sector. In an all-stock merger deal, the shareholders of Fincare received 579 equity shares in AU Small Finance Bank for every 2,000 equity shares held in Fincare, the merger received final approval from RBI on March 4, 2024, with the effective date of April 1, 2024.
Infosys
On Monday, Infosys got a tax demand of Rs 341 crore from the Income Tax department for the assessment year 2020-21. “Infosys Ltd on March 31, 2024, received order under Section 201 & 201(A) of the Income Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of ₹341 crores (including interest),” the company said in an exchange filing.
TVS Motor
TVS Motor posted a record 14% growth in total sales in FY24 at 41.91 lakh units, increasing from 36.82 lakh units in FY23. Two-wheeler sales registered a growth of 15% with sales increasing from 35.12 lakh units in FY23 to 40.45 lakh units in FY24, while the three-wheeler segment registered a sale of 1.46 lakh units in FY24 as against 1.69 Lakh units in FY23, according to the statement. Total exports registered 10.13 lakh units in FY24 as against 10.68 lakh units in FY 2022-23.
IIFL Finance
IIFL Finance received approval from the National Stock Exchange of India to acquire shares aggregating up to Rs 284.4 crore of the bourse from a Fairfax India Holdings Corp.-backed company.
