GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded up by 61.50 points or 0.27% at 22,838 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 ended up by 152.60 points or 0.68% to settle at 22,666.30, while the BSE gained 494.28 points or 0.67% to 74,742.50.

“The buoyancy in sentiment continued, led by sectorial tailwinds and Q4 earnings growth expectations. The up-move was largely broad-based, with outperformance by auto, reality, oil & gas, and consumer discretionary, while IT was tepid owing to insipid Q4 growth expectations due to a slowdown in spending,” said Vinod Nair, Head of Research, Geojit Financial Services.

Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Zomato, Bajaj Auto, IndusInd Bank, Poly Medicure, HCL Tech, Saraswati Saree Depot 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

Nair also added that, On the global front, after the release of robust US job data, investors are awaiting  the release of US CPI data, ECB policy, and UK GDP data this week.

Stocks to Watch on April 9, 2024

Tata Motors 

Tata Motors announced robust performance in its Jaguar Land Rover (JLR) segment for the end of FY24, with wholesales reaching 4 lakh units, marking a 25% year-on-year increase. Retail sales also surged by 22% to 4.3 lakh units. At the end of the fourth quarter, JLR wholesales stood at 1.1 lakh units, up 16% YoY, with retail sales up 11% YoY at 1.1 lakh units.

Yes Bank

Yes Bank received a sum of Rs 244 crore from a single trust in its Security Receipts Portfolio, following the sale of the NPA Portfolio to JC Flower ARC in December 2022.

Axis Bank 

Private equity major Bain Capital is reportedly planning to sell up to 3.34 crore shares of Axis Bank through a block deal, with the offer size estimated at $431 million. The book value is projected to range between Rs 1,071 and Rs 1,076.05 per share, representing a slight discount from the previous closing price.

Gland Pharma

Shareholders Nicomac Machinery and RP Advisory Services intend to sell up to 4.9% stake in Gland Pharma at a floor price of Rs 1,725 per share, indicating a 7.34% discount from the current market price.

Shilpa Medicare

Shilpa Medicare’s board has approved the opening of its Qualified Institutional Placement (QIP) at a floor price of Rs 477.33 per equity share, with the ‘Relevant Date’ set as April 8, 2024.

Sula Vineyards

Sula Vineyards reported double-digit revenue growth for both the fourth quarter and FY24. Net revenue increased by 10% YoY to Rs 131.8 crore in Q4, driven by growth in sales from own brands and wine tourism. The company also announced the acquisition of N D Wines.

IRB Infrastructure

IRB Infrastructure Developers saw a 30% YoY increase in toll revenue for March 2024, reaching Rs 480.9 crore. Assets under IRB Infrastructure Trust recorded a 40% increase in toll collection.

NCL Industries

Hyderabad-based cement maker NCL Industries announced robust performance metrics for the fourth quarter, including a 4% YoY increase in cement production to 7.30 lakh metric tonnes.

H.G. Infra Engineering

H.G. Infra Engineering incorporated a wholly owned subsidiary, ‘H.G. Chennai-Tirupati,’ to undertake a project worth Rs 862.11 crore awarded by the National Highways Authority.

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