GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 55 points or 0.24% at 22,579.50 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 lost 18.65 points or 0.08% to settle at 22,434.65, while the BSE Sensex closed 27.09 points or 0.04% lower at 73,876.82.
Stocks to watch on April 04, 2024
KEC International
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC
On Wednesday, KEC International, a global infrastructure EPC company said that it has secured new orders worth Rs 816 crore across its various businesses.
Aster DM Healthcare
On Wednesday, Aster DM Healthcare announced the completion of the separation of its India and GCC businesses. Under the separation plan, it said, a consortium of investors led by Fajr Capital, a sovereign-backed private equity firm, has acquired a 65% stake in Aster GCC, with the Moopen family retaining a 35% stake alongside management and operational rights. In the Indian operations, the Moopen family will continue to hold the 41.88% stake.
Jindal Stainless
On Wednesday, Jindal Stainless said it aims to complete divestment of its entire 26% stake in Jindal Coke by September this year. In the first tranche, the company has offloaded 4.87% shares in Jindal Coke for over Rs 36.49 crore. These shares were picked up by JSL Overseas at the same price, according to a regulatory filing.
Mankind Pharma
Mankind Pharma has announced the slump sale of the Over the Counter (OTC) business of the company to wholly-owned subsidiary company which is yet to be named. According to media reports, the Manforce condom maker has said that it has been evaluating its position, business strategy and exploring various options to grow the OTC business with a more focus.
Vodafone Idea
On Wednesday, Vodafone Idea said to consider raising funds via preferential issue in its board meeting to be held on April 6. “…a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, 6th April 2024, inter-alia, to consider proposal for issuance of Equity Shares and/or Convertible Securities on a preferential basis,” said the company in an exchange filing.
Axis Bank
On Wednesday, Axis Bank said that all the required regulatory approvals for the proposed subscription of shares in Max Life Insurance have been received. Earlier, the bank proposed infusing Rs 1,612 crore in Max Life Insurance Company.
Punjab and Sindh Bank
Arnab Goswamy has been appointed as the Chief Financial Officer for a tenure of three years from the joining date.
RBL Bank
On Wednesday, RBL Bank reported its quarterly updates for the fourth quarter of FY24. In the quarter ended March, deposits increased 22% year-over-year to Rs 1,03,454 crore, the bank said in an exchange filing. The loan advances saw a growth of 19% on year to Rs 85,640 crore in the quarter ended March 2024, compared to Rs 81,864 crore in the corresponding period.
