Stocks to Watch: SpiceJet, Adani Green, Aster DM, Polycab The market will keep an eye on these stocks, prepare the list
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Stocks to Watch Today: The situation in the Indian stock market was full of ups and downs in the last day. But, even on the fifth trading day of the week, the situation does not seem to be improving significantly. At 7.30 am, Gift Nifty is trading flat compared to the last close. The Dow and S&P 500 rose 0.45 percent and 0.57 percent, respectively, overnight, while the Nasdaq Composite rose 0.75 percent. Asian shares also gained. Japan’s Nikkei was up 2 percent, extending its record-breaking rally. Australia’s S&P/ASX 200 and South Korea’s Kopsi rose by 0.46 percent, Hang Seng rose 0.7 percent. In such a situation, the market will keep an eye on these shares.
third quarter earnings: GTPL Hathway, 5Paisa and HDFC AMC and other companies will release their third quarter earnings today.
TCS, Infosys: Both stocks will be in focus ahead of third quarter results expected to be released after market close. Infosys’ December quarter (Q3FY24) net profit is expected to decline on both a quarterly and annual basis due to project cancellations, lower discretionary sales and more furloughs. TCS is expected to register single-digit growth in revenue and profit for the December quarter (Q3FY24) compared to last year.
spicejet: SpiceJet plans to raise Rs 2,250 crore through a preferential issue of shares and warrants to reduce its debt burden.
Maruti Suzuki: Chairman RC Bhargava on Wednesday said the company is in discussions with the Gujarat government to obtain a suitable land parcel for its second plant to be set up with an investment of Rs 35,000 crore.
Adani Green: Proxy advisory firm Institutional Investors Advisory Services (IIAS) has recommended investors to vote against Adani Green Energy’s proposed Rs 9,350 crore preferential issue as it does not support the choice of warrants instead of equity for fund infusion. .
Aster DM: Its plans to sell its Gulf business may go sour as IIAS has recommended an ‘against’ vote on the proposal, saying there is no clarity on how the proceeds from selling the Aster DM unit will be used. Will do. Which contributes significantly to its revenue.
Bank of India: Its total turnover globally increased by 9.9 percent to Rs 12.76 trillion. Total deposits increased by 8.66 percent to Rs 7.10 trillion. Total deposits in the domestic market increased by 7.62 percent to Rs 6 trillion.
Manappuram Finance: Capital markets regulator SEBI has “put on hold” the proposed Rs 1,500 crore initial public offering (IPO) of NBFC subsidiary Ashirwad Micro Finance.
Polycab India: The Income Tax Department has detected “unaccounted cash sales” of around Rs 1,000 crore in its recent raid on Polycab Group, PTI reported.
Phoenix Mills: The company has reported a 30 per cent year-on-year growth in gross retail collections to Rs 700 crore for the December quarter. Its total consumption increased by 24 percent on annual basis to Rs 3,287 crore.
Kalyani Steels: The company has emerged as a successful bidder to acquire the assets of Kamineni Steel and Power India under liquidation. A cash payment of Rs 450 crore will be made for the acquisition on or before April 7, 2024.
CESC: The company’s arm Noida Power Company has received orders from Uttar Pradesh Electricity Regulatory Commission (UPERC) to approve the power purchase agreement for the purchase of 95 MW RTC power per year for a period of 5 years.
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