SUMMARY
Stocks to watch: Optimism about better quarterly earnings after results from Meta Platforms FB drove key US indices to close higher. Asian equities also witnessed buying early Friday. SGX Nifty50 futures rose 0.2 percent to 17,258.5 points as of 6:40 am today which also indicated that Indian benchmark indices might open slightly higher. Shares such as Wipro, SBI Cards, Ambuja Cements, Maruti Suzuki, IndusInd Bank, Vedanta, Axis Bank, Biocon and Tata Power among others will be closely tracked. Here are top stocks to watch out for in trade today -
1 / 10
Maruti Suzuki India, IndusInd Bank, SBI Cards and Payments Services, Just Dial, L&T Finance Holdings, Can Fin Homes, Gillette India, Shriram City Union Finance, Sonata Software, Tanya Platforms, Tata Chemicals, Thyrocare Technologies, UltraTech Cement and Wipro | These companies will report their quarterly numbers today.
2 / 10Biocon | The company reported a higher-than-estimated net profit at Rs 284 crore in Q4 FY22 while revenue came in at Rs 2,409 crore which was also slightly above CNBC-TV18 Poll estimate.
3 / 10Axis Bank | The private sector lender registered a 54 percent YoY growth in standalone profit at Rs 4,118 crore. Net interest income grew by 16.7 percent YoY to Rs 8,819 crore with credit growth of 15 percent and deposits growth of 19 percent for March 2022 quarter.
4 / 10Vedanta | Vedanta posted a 4.8 percent YoY decline in net profit at Rs 7,261 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 7,629 crore. The company achieved the highest ever consolidated EBITDA of Rs 13,768 crore in 4QFY22. This is a 51 percent YoY and 26 percent QoQ growth while EBITDA margin stood robust at 39 percent.
5 / 10Tata Power Company | The company has collaborated with National Real Estate Development Council to install 5,000 electric vehicle charging points across Maharashtra.
6 / 10Ambuja Cements | Ambuja Cements reported a standalone net profit of Rs 495.2 crore for the first quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 664.6 crore. Net sales during the quarter increased to Rs 3,855 crore compared to Rs 3,579 crore in the corresponding quarter of the previous year.
7 / 10Jindal Poly Films | The company's subsidiary will acquire a 100 percent stake in SMI Coated Products which is engaged in the manufacturing of pressure sensitive label stocks.
8 / 10Sterlite Technologies | The company's board has approved the raising of funds up to Rs 1,000 crore.
9 / 10IIFL Finance | The company clocked nearly 30 percent YoY growth in consolidated profit at Rs 321 crore on healthy growth in topline and operating profit. Revenue from operations during the quarter grew by 16 percent to Rs 1,856.2 crore compared to the year-ago period.
10 / 10Fineotex Chemical | Profit after tax of the group has increased by 42 percent YoY to Rs 17 crore on strong topline and operating income. Revenue rose by 62 percent YoY to Rs 121.4 crore in the quarter ended March 2022, and operating EBITDA surged 67 percent to Rs 21.52 crore in the same period.
