HAL, Data Patterns, Maruti Suzuki India, Bharat Dynamics, Bharti Airtel: Stocks to watch on Tuesday

Stocks watch on Tuesday, April 2: At around 8:12 am, Gift Nifty futures traded with a cut of 0.23 per cent, or 52.6 points, at 22,550, indicating a weak opening for the markets today.

Stock markets started the new fiscal year on a firm note on Monday, with benchmarks Sensex and Nifty scaling fresh record-high levels in intraday trade and settling in green, backed by firm trends in Asian markets and foreign fund inflows.

The Sensex jumped 363.2 points or 0.5 per cent to end at 74,014.6, while the Nifty climbed 135.1 points, or 0.6 per cent to 22,462.

Here are some stocks that will be in focus on Tuesday, April 2.

Auto stocks: Auto companies will remain in focus after Hero MotoCorp and Ashok Leyland reported their monthly sales numbers post-market hours. Earlier on Tuesday, a bunch of companies reported their monthly sales, including Maruti Suzuki, Tata Motors, and Eicher Motors.

Telecom companies: Reliance Industries, Vodafone Idea, and Bharti Airtel will be on investors' radar after the Telecom Regulatory Authority of India (TRAI) released subscriber data for January.

Bharat Dynamics: The company registered a turnover of around Rs 2,350 crore (provisional and unaudited) for the financial year ended on March 31, 2024, as against Rs 2,489.39 crore a year ago. The reduction was mainly on account of the current geopolitical situation prevailing in Europe and the Middle East, which had affected the company's supply chain. The company's order book until April 1, 2024, stood at around Rs 19,468 crore.

Gopal Snacks: The company will announce its Q3FY24 results on Tuesday.

IREDA: The company, in its yearly update, said that it has sanctioned the highest-ever loan amount of Rs 37,354 crore in the fiscal year gone by, up 15 per cent on year. Loan disbursement was to the tune of Rs 25,089 crore during FY24.

Aditya Birla Fashion (ABFRL): The company's board has authorised the company's management to evaluate the vertical demerger of Madura Fashion and Lifestyle business from ABFRL into a separate listed entity.

Voltas, Symphony, Blue Star, IFB, and other consumer durable companies: The IMD, in its weather forecast for April–June, fears high temperatures in most parts of India. La Nina conditions are possible between June and August. Further, as per the estimates, there is a possibility of more heat than normal in some parts of the North and South.

Avenue Supermarts: CLSA has again raised its target on the retail stock to Rs 5,514 from the earlier pegged target of Rs 5,307 as the quarterly store addition is at an all-time high. As per the brokerage, this store addition will boost the company's mix as well as gross margins.

HAL/ Bharat Electronics and other defence stocks: Defence stocks will be on the radar after record exports to the tune of Rs 21,083 crore were reported in FY24, logging 32.5 per cent growth on year. Global brokerage Jefferies is of the view that export opportunities in the space should rise at a 21% CAGR in FY23–30.

Vodafone Idea: The company, in its EGM scheduled for today, will take shareholders' approval to raise up to Rs 20,000 crore.

CSB Bank: In its business update, the private sector bank said that its gross advances grew 18 per cent on year until March 31 to Rs 24,574 crore. Moreover, total deposits at the company increased 21.3 per cent to Rs 29,719 crore.

South Indian Bank: Gross advances at the bank logged nearly 11 per cent growth on year until March 31 to around Rs 80,337 crore. Further, total deposits at the company increased 11.21 per cent on year to Rs 1.02 lakh crore.

With inputs from agencies

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