IEX, HZL, JSW Energy, PNC Infra, Credo Brands: Stocks to watch on Wednesday
Stocks to watch on Wednesday, April 3: Hindustan Zinc released its production numbers for the fourth quarter and year ended March 31, 2024.
Stocks to watch on Wednesday, April 3: Around 8 AM, GIFT Nifty futures—an early indicator of the Nifty 50 index—were down 125.5 points, or 0.56 per cent, at 22,452, ahead of the opening bell on Dalal Street, indicating a gap-down opening.
Stock markets snapped the three-day gaining run on Tuesday. The 30-share BSE Sensex declined by 110.64 points, or 0.15 per cent, to settle at 73,903.91. The broader NSE Nifty dipped 8.70 points, or 0.04 per cent, to 22,453.30.
Here are some stocks that will be in focus on Wednesday, April 3.
IEX, Tata Power, and Adani Power are expected to be in focus today as the government has taken some big steps to meet the power demand during the summer. The planned maintenance of power plants will be shifted during monsoons. Further, surplus power will be presented in energy exchanges for sale.
Bharat Forge, RK Forging, GNA Axles, Samvardhan Motherson: Shares are expected to hog the limelight as the sale of Class-8 trucks in March slipped 4.2 per cent YoY. On a month-on-month (MoM) basis, it has declined 29 per cent.
Indiabulls Real Estate: The company's board will consider fundraising in a meeting on April 5.
Hindustan Zinc: The company released its production numbers for the fourth quarter and year ended March 31, 2024.
SRM Contractors: Shares of the company are set to debut on the bourses today.
JSW Energy: The company will raise up to Rs 5,000 crore via QIP in one or more tranches.
PNC Infratech: The company's arm, PNC Raebareli Highways, will receive Rs 117.15 crore as part of a settlement from NHAI.
Ashiana Housing: The company sold the entire Gurugram Phase 3 of the ‘Ashiana Amarah’ project for Rs 440.32 crore.
Credo Brands Marketing: The company released its Q4FY24 business update.
Dhanlaxmi Bank: The lender shared its Q4 business update on Tuesday, post-market hours. Total business increased nearly 6.30 per cent YoY while gross advances rose around 5.63 per cent YoY.
NALCO: In FY24, the company registered record production and sales of aluminium-bauxite. The capacity utilisation of the alumina refinery is registered at 101.15 per cent. Additionally, ALCOA was up 4.7 per cent yesterday.
Shriram Housing Finance: As per a report by Zee Business, Warburg Pincus is the top candidate to buy the company.
Gopal Snacks: The company posted weak results for the December quarter. Profit slipped 45 per cent while revenue saw a 1 per cent increase.
IT stocks: Global brokerage CLSA, in its latest report, has written that amid uncertain macro setups, IT companies should guide conservatively. The global brokerage keeps an unchanged outlook for key verticals like banking, retail, hi-tech, and telecom.
(With inputs from agencies.)
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