Benchmark indices NSE Nifty and BSE Sensex may open flat or marginally higher amid mixed global cues. The Nifty futures on the Singapore Exchange (SGX) were trading 19 points or 0.11% higher at 17,684 in the early morning trade. Asian markets were trading lower with China’s Shanghai Composite Index dipping 0.20%, South Korea’s KOSPI dropping 0.70%, Hong Kong’s Hang Seng falling 0.60% and Japan’s Nikkei 225 slipping 0.19%. The US market ended the overnight session in red– Dow Jones Industrial Average (DJIA) fell 0.33%, S&P 500 tumbled 0.6% and the tech-heavy Nasdaq plunged 0.8%.
Stocks in focus on 21 April, Friday
RIL – Hindustan Zinc
Reliance Industries (RIL) and Hindustan Zinc will be in focus ahead of their quarterly and full-year earnings on April 21.
HCL Technologies
The IT company’s fiscal fourth-quarter net profit rose 11% on-year to Rs 3,983 crore, as against Rs 3,593 crore in the same quarter last year, surpassing analyst estimates. HCL Tech reported its fourth quarter revenue of Rs 26,606, up 18% from Rs 22,597 crore during the same quarter in the previous year. A CNBCTV18 poll estimated HCL Tech January-March net profit to be at Rs 3,890 crore, and revenue at Rs 26,737 crore. HCL Tech also declared another interim dividend of Rs 18 per share, taking the total dividend for the financial year 2023-24 to Rs 48 per share.
Cyient
The company reported a 4.6% sequential rise in consolidated profit at Rs 163.2 crore for the quarter ended March FY23 on strong topline and operating numbers. Revenue for the quarter at Rs 1,751.4 crore grew by 8.2% and dollar revenue at $213 million increased by 8.1%, with constant currency revenue growth at 6.6% on-quarter.
Sterling & Wilson Renewable Energy
The company posted a net loss of Rs 417.45 crore for the quarter ended March FY23, broadening from a loss of Rs 126.3 crore in the same period last year, as consolidated revenue tumbled 91.7% on-year to Rs 88.4 crore and EBITDA loss increased to Rs 352.12 crore from Rs 124.24 crore in the same period.
Siemens
The company as part of a consortium along with Rail Vikas Nigam, has received two separate orders from Gujarat Metro Rail Corporation (GMRCL). Siemens’s share in orders is Rs 678 crore. The orders are for Surat Metro Phase 1 and Ahmedabad Metro Phase 2.
Suven Pharmaceuticals
The Competition Commission of India (CCI) has approved the acquisition of up to 76.10% of the voting share capital of Suven Pharmaceuticals by Berhyanda. Berhyanda is ultimately managed by Advent International Corporation.
Life Insurance Corporation of India
The premium of the life insurance company in March FY23 dropped 32% compared to the year-ago month, but the premium for FY23 grew by 17% over the previous year. The retail annual premium equivalent growth stood at 10% on-year in March, according to reports.
PNB Housing Finance
Nippon India Mutual Fund has bought 5 lakh equity shares or around 0.3% stake in the housing finance company via open market transactions at an average price of Rs 133 per share. Goldman Sachs Investments Mauritius I Ltd was the seller in this deal.