Shares of Bandhan Bank, Wipro, Bajaj Finance, Titan, Voltas to remain in focus
Upstox
2 min read • Updated: April 8, 2024, 8:15 AM
Summary
Indian markets retreated from all-time highs to close flat on Friday. The RBI kept the interest rates unchanged at 6.5%. The NIFTY and SENSEX closed the last week with marginal gains at 0.3%.
Indian markets look for a positive start on April 8 as GIFT NIFTY indicates a gap-up opening on the Indian indices. The Asian markets are trading mixed, with Japanese markets trading 1.4% higher on Monday morning, while the Chinese markets are trading in red, led by property sector woes.
US markets closed higher on Friday as job data remained robust, indicating strong economic and earnings growth for the country. The Dow Jones closed (+0.8%), S&P (+1.1%) and Nasdaq (+1.2%) higher on Friday.
The Brent crude oil prices eased to trade below the $90/ barrel mark as geopolitical tensions in the Middle East show signs of easing. Israel withdrew troops from the southern Gaza border amid international pressure.
Gold prices continue to rally to new highs of $2,331 per ounce in the international market after rising 4.3% in the previous week.
Stocks to watch
Info Edge reported a 5.4% increase in total billings for FY24 at ₹.2,495 crore vs ₹2,366 crore in FY23. The Naukri platform grew by a minimal 1.3% yoy as against FY23. Meanwhile, the 99-acre billings grew by 23% yoy to ₹385 crore vs. 311 crore in FY23.
Titan reported a 17% growth in revenue in Q4FY24, and 86 new stores were added in the quarter.
Bandhan Bank founder and CEO Chandra Shekhar Ghosh will resign effective July 9, 2024.
Bajaj Finance's housing finance arm, Bajaj Housing Finance board will undertake discussions of its listing, as it is classified as a layer NBFC and mandated to list before September 22, 2025.
Bank of India reported 12% growth in loans and advances for FY24 at ₹ 13.2 lakh crore vs ₹11.85 crore in FY23. The deposits witnessed steady growth of 9% yoy to ₹7.3 lakh crore.
Wipro CEO Thierry Delaporte resigned from the post and was replaced by Srini Pallia as the new CEO.
Cholamandalam Investment & Finance reported a stellar 33% growth in disbursals for FY24 at ₹88,300 crore vs ₹66,532 crore in FY23.
Signature Global pre-sales grew by 112% to ₹7,270 crore, and the collections increased by 62% in FY24 at 3110 crore.
Voltas reports the highest ever 2 million sales of ACs in FY24, becoming the first ever brand to achieve the remarkable feat.
Gland Pharma receives approval for Eribulin Mesylate Injection. The product has a saleable market of $92 million in the US.