Tata Motors, Axis Bank, Sula Vineyards are key stocks to watch
Upstox
2 min read • Updated: April 9, 2024, 9:09 AM
Summary
The Indian markets made new high on NIFTY at 22,697 and SENSEX at 74,869 Levels as domestic institutional investors bought shares worth over ₹3,000 crore on Monday
Indian markets surged to new highs on Monday amid optimism around FY24 earnings and positive global market sentiment. The US markets traded mixed and closed little changed ahead of key inflation data this week. The Asian markets are trading positive, with gains in the range of 0.5%.
Brent crude prices climbed above the $90/barrel mark as geopolitical tensions persist. The gold prices in international markets continue to hover around all-time high at $2,340 per ounce.
The foreign institutional investors (FII) sold equities in Indian markets worth₹ 684 crore. Meanwhile, domestic institutional investors poured ₹3,470 crore into domestic markets.
Stocks to watch
Tata Motors: Wholesale sales for JLR increased by 25% at 401,303 units for FY24, while retail sales grew at a solid pace of 22% yoy for FY24.
Dixon Technologies to acquire a majority stake in Ismartu India pvt ltd in two tranches. In the first tranche, the company will acquire shares for aggregate consideration of ₹238 crores.
Sula Vineyards reported 10% growth in revenue for FY24 at ₹608 crore vs ₹553 crore in FY23.
HG Infra Engineering incorporated a wholly owned subsidiary, namely H.G Chennai-Tirupati (II) Private Limited SPV, to execute projects worth ₹862 crore from NHAI.
UCO bank reported ₹4.5 lakh crore of total business for FY24 vs ₹4.1 lakh crore in FY23
Axis Bank: According to media reports, Bain Capital is likely to sell up to 3.34 crore shares of Axis Bank in a block deal
Gland Pharma: Nicomac Machinery Pvt ltd and ERP Advisory Services Pvt Ltd are likely to sell 4.4% of Gland Pharma's equity shares in a block deal.
Dilip Buildcon received orders worth ₹1092 crore from Haryana Rail Infrastructure Development Corporation.