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

Stocks in Focus: GIFT Nifty traded lower as the index was down 41.50 points or 0.19% at 22,112.00 indicating a muted start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Tuesday, the NSE Nifty 50 lost 124.60 points or 0.56% to settle at 22,147.90, while the BSE Sensex dropped 456.10 points or 0.62% to close at 72,943.68.

Stocks to watch on April 18, 2024

Ambuja Cements 

Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC

On Wednesday, Ambuja Cements announced that its promoters, the Adani family have fully subscribed to the warrants program in the company by further infusing Rs 8,339 crore thereby infusing a total amount of Rs 20,000 crore. The Adani family has thus increased their stake in Ambuja Cements by a further 3.6% to 70.3%.

Paytm

Paytm owner One97 Communications (OCL) on Tuesday received approval from the National Payment Corporation of India (NPCI) to start the user migration from the existing Paytm Payments Bank UPI handle to the new Payment System Provider (PSP) bank handles. 

Vodafone Idea 

Vodafone Idea may need further support from the government once the current moratorium on the adjusted gross revenue (AGR) and spectrum dues ends in September 2025, chief executive officer Akshaya Moondra told FE on Wednesday. 

Also, the government has no plans to monetise its stake in Vodafone Idea, Tuhin Kanta Pandey, secretary of the Department of Investment and Public Asset Management told Fe, ahead of the mega follow-on public offer (FPO) by the telecom operator.

Infosys 

Infosys is expected to report another weak set of quarterly numbers in the January-March quarter due to continued sluggishness in discretionary spending in the US. However, analysts expect the company’s operating margin to expand aided by cost optimisation under Project Maximus. The company will report its earnings on Thursday.

Vedanta 

The current fiscal would be a transformative year for mining major Vedanta, a subsidiary of Vedanta Resources (VRL), as it prioritises disciplined growth and explores opportunities. While VRL looks to deleverage $3 billion in the next three years, the group is expecting to achieve an annual group EBITDA of $7.5 billion within two years, chairman Anil Agarwal said in a communication to shareholders. 

Zee Entertainment Enterprises

On Wednesday, the board of Zee Entertainment Enterprises gave the nod for a lean organisation structure proposed by the company’s MD and CEO Punit Goenka. Goenka focused on four key business verticals: broadcast, digital, movies and music. He will be directly handling the domestic broadcast business.

Power Grid Corporation 

On Wednesday, the board of Power Grid Corporation of India approved a proposal to raise Rs 12,000 crore through the issuance of bonds in one or more tranches in 2024-25.

Tata Communications 

On Wednesday, Tata Communications reported its fiscal fourth-quarter profit at Rs 321.18 crore, down 1.5% on-year in comparison to Rs 326.03 crore during the same period last year. It posted revenue from operations at Rs 5,691.70 crore, up 24.6% as against Rs 4,568.66 crore during the fourth quarter of FY23. The company’s EBITDA stood at Rs 1,056.3 crore, up 2.1% in comparison to Rs 1,034.3 crore last year. 

Brigade Enterprises 

Brigade Enterprises posted presales of Rs 6,013 crore during FY24 and Rs 2,243 crore in the fourth quarter of the financial year, the highest ever for both in terms of a quarter as well as financial year. In terms of real estate sales volume, the company recorded 7.55 million sqft with average realisation increasing by 23 per cent during FY24 in comparison to the previous year. For the fourth quarter, real estate sales volume stood at 2.72 million sqft.

Aditya Birla Capital 

Aditya Birla Capital is targeting to onboard 30 million new customers with its new ABCD mobile application in the next three years, CEO Vishakha Mulye has said. “Currently we have around 35 million customers across channels and we have set a target to add around 30 million new customers over the next 3 years. The ABCD app will allow us to acquire customers at scale with the power of technology,” Mulye said on Tuesday. The non-banking finance company (NBFC) has invested Rs 100 crore in building the app, she added.

CRISIL 

On Tuesday, CRISIL posted its fourth-quarter earnings for the financial year 2023-24 with profit at Rs 137.72 crore, down 5.5% in comparison to Rs 145.75 crore during the same period last year. It posted revenue from operations at Rs 737.68 crore, up 3.2% as against Rs 714.89 crore during the fourth quarter of FY23.