Here are the top stocks that are likely to be in focus today:
Earnings Today: Tata Consultancy Services, HDIL, California Software, Cupid Trades & Finance and Lloyds Metals and Energy will announce their quarterly earnings on April 12. Analysts expect TCS to post 9 per cent YoY growth in March quarter revenue aided by certain large deals such as Postbank and Prudential Financial, ramp-up in multiple $50-100 million deals won in the preceding quarter, and strong demand in areas of cloud and customer experience.
Infosys: The company on Sunday said its board will consider a buyback proposal at its meeting on April 14.
Barbeque Nation: UTI Mutual Fund acquired 1.77 per cent equity stake in casual dining restaurant chain operator Barbeque Nation via open market operations on April 8, taking its total shareholding in the company to 5.01 per cent.
Shares of Heranba Industries slipped 3 per cent to hit a new low of Rs 606.55 on the BSE in intra-day trade on Tuesday, falling below its issue price of Rs 627 per share. The stock of agrochemicals company was trading at its lowest level since listing on March 5. It has now corrected 36 per cent from its high of Rs 944.95 touched on its debut day. Shares of Heranba Industries had made a strong debut on the bourses with the stock listing at Rs 900, a 43.5 per cent premium over its issue price. The initial public offer of the Gujarat-based firm was subscribed 83 times. The institutional investor portion was subscribed 67 times, the wealthy investors portion by 271 times and the retail investors quota 11 times.
Here are the top stocks that are likely to be in focus today:
Auto stocks: Shares of auto companies will be in focus as they are set to unveil their March sales figures today. Demand sentiments across segments (ex 2W) remains unaffected, despite second concurrent lockdown in certain parts, said analysts at Prabhudas Lilladher.
Central Bank of India: The lender said it has cancelled an agreement to sell its stake in housing finance subsidiary to Centrum.
Axis Bank: The private sector bank has entered into a share purchase agreement for sale of 100 per cent stake in its subsidiary, Axis Bank UK Ltd, to OpenPayd Holdings.
Shares of Tata Consumer Products have been in the focus of late after the stock got admitted to the flagship Nifty50 index on March 31 as part of the index rejig. On a year-to-date (YTD) basis, the stock has managed to beat both the Nifty50 and Nifty FMCG index in terms of returns. The Tata group stock has gained 8 per cent as against Nifty s 5 per cent and 2 per cent up move in the Nifty FMCG index during this perios, ACE Equity data show. In the FCMG pack, the stock is among the select few that have offered high single-digit or double-digit returns during the same period, performing better than 70 per cent of its peers.
Here are the top stocks to track in today s session:
Vedanta: Anil Agarwal-led Vedanta Resources Plc on Tuesday raised the open offer price for buying shares in its Indian firm to Rs 235 per share, nearly 4 per cent higher than the current trading price. It also raised the offer size to 651 million shares representing 17.5 per cent stake in Vedanta from 10 per cent it had offered to buy earlier.
Magma Fincorp: The company will pare its shareholding in insurance venture Magma HDI by selling stake to ICICI Venture, Morgan Stanley PE, a Poonawalla Group firm and other entities in a Rs 525 crore-deal.