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  1. Stocks to watch: Bajaj Finance, Coal India, Ceat, Coforge & more

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Stocks to watch: Bajaj Finance, Coal India, Ceat, Coforge & more

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2 min read | Updated on May 03, 2024, 09:14 IST

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SUMMARY

Indian markets continue to trade in range of 22,500 to 22750 with positive bias largely led by strong earnings in the key NIFTY indices.

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Stocks to watch

Indian markets are expected to open positively, led by positive global cues. The US markets closed higher, led by Apple's ambitious buyback plan worth $110 billion. The Nasdaq closed 1.2% higher. The Asian market remained buoyant on Friday morning, led by a rally in US tech stocks and ahead of its key non-farm payrolls data.

Stocks to watch

Bajaj Finance will remain focused as RBI lifts the ban on its key lending products like InstaEMI and eCOM, allowing the company to sanction new loans and disbursals and issue new EMI cards.
MRF, JSW Infrastructure, Raymond, Asian Energy Services, Mangalore Refinery & Petrochemicals, Triveni Glass, VMS Industries, Tree House Education & Accessories, Steel Exchange India, Nicco Parks & Resorts, Entertainment Network (India) Ltd will post their earnings today.
Coal India reported a robust set of numbers in Q4FY24; the net profit for the quarter grew by 25.8% to ₹8,650 crore as operating profit zoomed 21% YoY. The company also recommended a dividend of ₹5 per share.
Carlyle is set to sell its 2% equity stake in Yes Bank via a block deal for the worth of ₹1,500 crore.
CEAT's net profit for the quarter declined by 22% YoY to ₹103 crore. However, Revenue and gross margins for the quarter increased to ₹2,992 crore vs ₹2875 crore in Q4FY23.
Coforge acquired a 54% stake in Cigniti Technologies, which is expected to be fully completed in Q2FY25. With the acquisition, the company aims to grow Revenue to $2 billion by 2027 .
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