Stocks in focus on Monday: From HDFC Bank to ICICI Prudential. Details here
After a long holiday, Indian markets are set to resume trading on Monday with Q4 earnings, geopolitical tensions, and inflationary pressures continuing to play a major role in the outlook. Benchmarks Sensex and Nifty 50 witnessed a volatile last session tracking global cues that factored in higher levels of inflation which dampened sentiments.
On Wednesday, Sensex closed at 58,338.93 down by 237.44 points or 0.41%. While Nifty 50 settled at 17,475.65 below 54.65 points or 0.31%.
Talking about the performance, S Ranganathan, Head of Research at LKP securities said, “Capital Goods stocks were sought after on expectations of a revival in CAPEX spends. March exports rising 20% boosted sentiments even as the street remains cautious about rising inflation and commodity prices and its impact on earnings of companies. The broader markets saw demand for Hospitality, Cement & Gas stocks”
Markets were closed from April 14 to April 17 on account of Ambedkar jayanti, Good Friday and weekend.
With markets set to open this Monday, here’s a list of key stocks that will be in focus on this day:
HDFC Bank: The Bank earned a net profit of ₹10,055.2 crore on a standalone basis for the quarter ending March 2022 (Q4FY22) period, rising by a whopping 22.8% yoy. The bank’s net interest income which is the difference between interest earned and interest expended, stood at ₹18,872.7 crore in the quarter under review up by 10.2% from ₹17,120.2 crore for the same quarter last year. Core net interest margin was at 4% on total assets, while it was at 4.2% based on the interest earning assets for Q4FY22.
Tata Steel: Tata Steel is set to consider a stock split proposal on May 3. Additionally, the company’s board of directors will also look into dividend recommendations for the financial year FY22. The board will be meeting to consider and take on record the audited Standalone and unaudited Consolidated financial statements and results for the quarter ended March 31, 2022.
ICICI Prudential: The NBFC posted a 189.5% growth in net profit to ₹185 crore in Q4FY22 versus ₹64 crore in the same quarter last year. Value of new business in Q4 stood at ₹775 crore up by 31.1% yoy. VNB margin was 28.0% for FY2022 as compared to 25.1% for FY2021.
Mahindra & Mahindra: M&M said that the company has agreed to sell 34,75,264 equity shares of ₹10 each held by the company in Mahindra Sanyo Special Steel constituting 22.81% of the Paid-up Capital to Sanyo Special Steel pursuant to the exercise of a Put Option available to the Company on Sanyo under the Shareholders’ Agreement.
Mahindra Holidays & Resorts India: The company plan to subscribe additional 4,88,321 equity shares of Rocksport in three installments for a total cash consideration of Rs12 crore. The first tranche of the acquisition was carried out on Sunday (April 16) when Mahindra Holidays acquired 1,62,774 equity shares in Rocksport for ₹4 crore.
Windlas Biotech: The company has received certificate of Good Manufacturing Practices (GMP) from SAHPRA (South African Health Products Regulatory Authority). The company had undergone the inspection audit from 20th to 29th September 2021.
Interglobe Aviation: The Board of Directors (Board) of the company has appointed Vikram Singh Mehta and Air Chief Marshal B. S. Dhanoa (Retd.) as the Independent Non-Executive Directors, subject to receipt of security clearance from the Ministry of Civil Aviation (MoCA) and approval of the Members of the Company.
TVS Motor: The company has acquired 1.81% stake in Roppen Transportation Services (Rapido). The two-wheelers manufacturer clarified that it holding in Rapido will constitute less than 5% of the shares or voting rights in Rapido.
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