Tata Communications, Infosys, Power Grid: Stocks to watch on Thursday

Stocks to watch on Thursday, April 18: Gift Nifty futures has been swinging between gains and losses and last at around 8:17 am, it gained marginally and traded at 22201 indicating muted opening for Indian equities. Equity benchmark indices Sensex and Nifty continued to slump on Tuesday (April 16, 2024), dragged down by heavy selling in IT stocks amid weak global trends and fears of escalating tensions in the Middle East. The outflow of foreign funds also dented investors' sentiment. 

Continuing its downtrend for the third day running, the 30-share BSE Sensex tanked 456.10 points or 0.62 per cent to settle at 72,943.68. The NSE Nifty 50 declined 124.60 points or 0.56 per cent to finish at 22,147.90.

The Indian share market remained closed on Wednesday, April 17 on account of Ram Navmi.

Here are some stocks that will be in focus on Thursday, April 18: 

Tata Communications: The company's net profit for the month ended on March 31, stood at Rs 321.52 crore against Rs 326.34 crore a year ago. Total income for the quarter under review stood at Rs 5748.7 crore against Rs 4630.45 crore.

Infosys: The IT company announced a collaboration with Proximus, Belgium to standardise its existing processes on the ServiceNow platform and transform its customer service management (CSM) operations.

Power Grid: The company's board approved the raising of bonds of up to Rs 12,000 crore during FY24-25 in one or more tranches.

Happiest Minds Technologies: The company announced the new GenAI chatbot - ‘hAPPI’, developed by its Generative AI Business Services (GBS) unit for Happiest Health.

DCB Bank: The company's board will consider Q4 results and a dividend in a meeting on April 24. 

Sunteck Realty: The company said in its Q4 business update that its pre‐sales grew by 26 per cent year-on-year (YoY) and 49 per cent quarter-on-quarter (QoQ) in Q4 FY24. 

Elin Electronics: The company has appointed Praveen Tandon as CEO w.e.f. April 17, 2024.

ICICI Lombard: The general insurance company posted better Q4 results with net premium earned increasing 17.2 per cent. The profit at the company also grew to Rs 520 crore as against Rs 460 crore.

Vodafone Idea: The company's FPO will open from today until April 22 at a price band of Rs 10-11 per share. The issue size of the FPO has pegged at Rs 18,000 crore.

Paytm: The company after approval from the NPCL has started to transfer Paytm users to PSP banks including Axis Bank, HDFC Bank and SBI among others.

Brigade Enterprises: The company logged the highest pre-sales in the quarter ended March of Rs 2243 crore.

Biocon: The company has inked an exclusive licensing and supply agreement with Biomm S.A  for supplying generic Ozempic (Semaglutide)in Brazil.

IIFL Finance: The company via the rights issue will aggregate Rs 1271.83 crore through the issuance of 4.23 crore shares at a price of Rs 300 per share.

Piramal Pharma: The company has been issued with EIR from the USFDA against the inspection conducted at the company's Riverview facility in the US.

Vedanta: Anil Agarwal in a letter to its shareholders said that Vedanta Resources aims to reach a operating profit of $750 crore in  two years.

(With inputs from agencies.) 

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