Stocks to watch: DMart, IOC, SML Isuzu, Maruti, HAL, Fertilizer, IT stocks

The major benchmarks are likely to start an action-packed week on a quiet note taking cues from global peers. This week, the focus will be on the upcoming Reserve Bank of India (RBI) policy, as economists expect the central bank to raise inflation expectations. As of 07:10 AM, the April SGX Nifty futures contract is trading at 17,712 against Nifty’s spot close at 17,670 on Friday.

IT inventory: IT companies may beat the Ukraine crisis, inflation fears in the quarter ending in March. Indian IT services companies’ Q3 FY22 results are expected to reveal continued growth momentum as demand rises on the back of digital transformations and cloud transformation, but analysts expect margins to be squeezed by supply challenges. Read more

Moreover, in great relief to Indian IT companies operating in Australia, Canberra has agreed to amend its local laws to stop taxing overseas income of such Indian companies, as part of a free trade agreement signed on Saturday. Read more

SML Isuzu: The company has announced a price increase of between 3 percent and 4 percent on all of its models, trucks and buses effective April 4, 2022.

Avenue Super Mart (DMart): The company reported a 17.8 percent year-over-year jump in third-quarter revenue on a standalone basis. According to a release issued by the company to BSE, the company’s standalone revenue from operations for the quarter ended March 2022 increased to Rs 8,606.09 crore from Rs 7,303.13 crore.

Indian Oil Corporation (IOC): On Sunday, the retail oil trader said it will invest approximately 840 crore in expanding petroleum, oil and lubricant storage capacities, including setting up a new facility in the northeast.

Everyday Industries: The Supreme Court directed the arbitral tribunal to adjudicate Eveready Industries’ injunctive relief in the case with KKR India Financial Services without being affected by the notes of section and single board of the Delhi High Court. Read more

Maruti Suzuki: The country’s largest automaker aims to sell 4-6 lakh units of CNG in the current fiscal year depending on the supply state of core components, according to a senior company official.

Adani projects: Two state government officials said Andhra Pradesh has canceled the bids of two separate bids by Adani Enterprises for the supply of imported charcoal because the mentioned prices were too high. Reuters.

HDFC Bank: The loan book of the country’s largest private sector lender expanded by nearly 20.9 percent year on year to Rs.13.69 trillion in FY22. The loan book outstanding was Rs.11.32 trillion as of March 31, 2021. Read more

Hindustan Aeronautics (HAL): Public sector aeronautics giant HAL on Friday said it posted its highest ever revenue of over Rs 24,000 crore (provisional and unaudited) in fiscal year 2021-22 (FY22). Read more

JB Chemicals: The KKR-backed company, owner of the prominent brands Rantac and Metrogyl, is trying to make a mark in the emulsifiers category in a bid to increase its domestic market share to 60 percent of turnover. The company is now planning to enter new areas such as sleep disorders, sexual wellness, motion sickness, and immunity apart from the traditional areas such as cough, sore throat, etc. Read more

Fertilizer Stock: Fertilizer companies are beginning to pass on part of the rising input costs to farmers. Sources said IFFCO, a major fertilizer company, raised the price of DAP from Rs 1,200 per bag to approximately 1,350 rupees per 50 kg bag (an increase of 12.5 per cent), while the price of a variety of NPKS was raised to 1,400 rupees per 50 kg bag from Fi Earlier 1,290 rupees per bag (an increase of 8.5 per cent). Read more

Retail in the future: The debt-laden company said it missed the Rs 5,322.32 crore payment due to lenders due to ongoing lawsuits with major e-commerce company Amazon and other related issues.

Jet Airways: Banks have provided conditional support to the Kalrock-Jalan union for an additional two months to fulfill the conditions required to implement the Jet Airways revival plan. The NCLT will hear the matter on Monday. The consortium said the extension was necessary to prevent the company from sliding into liquidation. Read more

Torrent power: The company has formally taken over power distribution operations in the Union Territories (UTs) of Dadra & Nagar Haveli, Daman and Diu, one of the first UTs to be privatized under the government programme.

Public Sector Banks (PSBs): Government-owned banks that have received the capital through recapitalization (recapitalization) bonds may have to get about Rs 13,000 crore after directing the Reserve Bank of India (RBI) to recognize these bonds at market value, according to ICRA. Read more

Nirmiti Robotics: The company has set April 15 as the standard date for issuing a proposed 5:1 bonus, meaning five bonus shares for every share held by a shareholder.

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