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The benchmark indices are likely to start Tuesday’s session on a lower note as per trends indicated by the SGX Nifty futures, which were around 100 points lower this morning as US bond yield spike soured investor sentiment, ahead of the March consumer price index numbers.
Meanwhile, these are the stocks to watch out for in trade today:
Q4 earnings today: Anand Rathi Wealth, GM Breweries, Hathway Cable & Datacom, Tinplate Company of India, Evexia Lifecare, and Gayatri Bioorganics will announce their quarterly numbers.
TCS: The company reported a 7 per cent rise in consolidated net profit to Rs 9,926 crore for the March 2022 quarter. The consolidated revenue of the IT major grew 16 per cent to Rs 50,591 crore in the quarter under review. It also reported its highest-ever order book and crossed the revenue milestone of Rs 50,000 crore in a quarter. Read here
Telecom: The Telecom Regulatory Authority of India (Trai) has slashed spectrum auction price of 5G airwaves in the 3300-3670 MHz band by around 36 per cent. Read it here
JSW Steel: The country’s largest steelmaker has moved a step closer to realising its greenfield steel plant, with its wholly-owned subsidiary, JSW Utkal Steel (JUSL), receiving environmental clearance (EC) for setting up a 13.2 million tonnes (mt) steel plant in Odisha. The company said the capital expenditure for the project is expected to be approximately Rs 65,000 crore, including associated facilities. Read here
Tata Power: Tata Power’s plans to reduce debt by hiving off its renewables energy businesses into an infrastructure investment trust (InvIT) has missed the March-end deadline. The company was planning to bring down its gross debt to below Rs 25,000 crore from Rs 49,000 crore with the InvIT structure. Read more
Kesoram Industries: The company reported a consolidated net loss of 46.67 crore in Q4 FY22 as against a net profit of Rs 112.26 crore in Q4 FY21. Revenue of operation grew 19.7 per cent to Rs 1,031.78 crore in Q4 FY22. Read more
Further, the board has set up a demerger committee to evaluate a proposal of demerging the company’s rayon, transparent paper and chemical business under its wholly-owned subsidiary Cygnet Industries into a separate company.
Delta Corp: The company’s consolidated net profit for the fourth quarter fell 17 per cent to Rs 48 crore vs last year. The company’s sales rose marginally to Rs 218 crore for the quarter under review as against Rs 211 crore a year ago. It also approved amalgamation of Daman Entertainment, and Daman Hospitality with itself.
UltraTech Cement: The company announced that the company participated in the e-auction of Diggaon Limestone Block conducted by the Government of Karnataka and has been declared as the Preferred Bidder. Read more
Wipro: The company has acquired US-based consulting and program management company Convergence Acceleration Solutions, LLC (CAS Group) that specialises in driving large-scale business and technology transformation for Fortune 100 communications service providers. Read here
Nestle: The company has declared an interim dividend of Rs 25 per equity share for 2022. The record date has been fixed as April 22 for determining eligibility of shareholders for dividend.
Stocks under F&O ban: Delta Corp and RBL Bank are under the F&O ban for today.
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