India's stock market is likely to get off to a bleak start on Monday, April 17, as a weak set of figures from index heavyweights Infosys and HDFC Bank will weigh on market sentiment. Furthermore, Asian markets cautious on a Chinese data set and negative SGX Nifty also point to a negative start for the Nifty50. As of 08:18 am, Nifty futures on the Singapore Stock Exchange were trading 90 points, or 0.50 percent lower, at 17,781 levels.
Let's take a look at the top ten stocks that may stay on investors' radar today:
infosys: Shares of the IT services giant are expected to trade actively today as the company posted its March quarter earnings last week. The company reported a 7% QoQ decline in its consolidated net profit of Rs 6,128 crore for the quarter ending March 2023 (Q4FY23). On an annual basis, profit grew 7.8 percent. Revenue for the period amounted to Rs 37,441 crore, down 2.3% QoQ and up 16% YoY. Both the bottom line and the top line missed the estimates of Zee Business analysts.
HDFC Bank: India's largest private sector lender on April 15 reported a 19.8% year-on-year rise in its standalone net profit of Rs 12,047.45 crore for the quarter ending March 2023 (Q4FY23). The net profit of the bank; however, it was slightly below Zee Business analyst estimates of Rs 12,300 crore.
Energy rush: The company on Thursday (April 13) announced that its chief financial officer (CFO), Lalit Malik, has resigned, effective immediately. The Board of Directors at its meeting on Thursday accepted Malik's resignation for health reasons, Torrent Power said in a regulatory statement.
HCL technology: The company's head of digital business, Anand Birje, has resigned from the IT services company to seek another opportunity, the company told exchanges on April 13.
Zydus Life Sciences: The company has received final approval from the USFDA for isoproterenol hydrochloride injection. Isoproterenol Hydrochloride Injection is indicated to improve hemodynamic status in patients with distributive shock and shock due to reduced cardiac output and for the treatment of bronchospasm occurring during anesthesia. The drug will be manufactured at the group's injectable manufacturing facility in Jarod, near Vadodara, India, according to the regulatory document.
TVS Motor Company: The company, in its regulatory filing last week, reported that its unit, TVS Motor (Singapore) Pte Ltd, has completed the acquisition of 25 per cent of Killwatt GmbH.
Va Tech Bag: The company's Board of Directors has approved the sale of 100% of the shares of Wabag Switzerland.
Brightcom Group: On April 13 (Thursday), the Securities and Exchange Board of India (SEBI) issued an interim order for notice of demonstrative cause against Brightcom Group and four others for alleged fraud on the company's financial statements. company.
Gujarat State Petroleum Corporation has nominated Shri Milind Torawane, IAS, as Joint Managing Director on the GSPL Board of Directors, the company said in its regulatory filing.
tata motors on Friday (April 14) it said it will increase the prices of its passenger cars from May 1 to partially offset the increase in input costs. The weighted average increase will be 0.6 percent, depending on variant and model, Tata Motors said in a statement.
