Stocks to watch: TCS, Veranda, Voda Idea, Exim Bank, Cadila, Banks, IT

Major benchmarks are expected to start trading for the week on a calm note amid subdued global indices. That aside, fourth quarter earnings driven by IT stocks are expected to dictate market direction this week. As of 07:30, SGX Nifty April futures were quoted at 17,811 versus last week’s Nifty spot close of 17,784.

Revenue monitoring: TCS, Kesoram Industries, Delta Corp and Birla Tires were among the top companies to report fourth quarter results today.

Expectations for the fourth quarter: Brokerages are expecting another quarter of high double-digit earnings growth from the nation’s top companies that are part of the benchmark Nifty50 index. According to brokerage estimates, the combined net profit of index companies is expected to increase by 29.1% year-on-year (YoY) in the January-March quarter 2022 (Q4FY22) to an all-time high of Rs 1, 61. trillion, compared to about 1.25 trillion rupees a year ago. READ MORE

Veranda Learning Solutions: The stock should make a decent trading debut on Monday. The IPO was subscribed 3.5 times, with retail quota subscribed up to 10.8 times. In line with the gray market premium (GMP), the stock can see modest gains of 5-10% in early trades.

Jindal Steel and Power (JSPL): The company plans to install the country’s second coal gasification plant at its Raigarh plant in Chhattisgarh. The company is already using coal gasification technology to produce steel at its plant in Angul, Odisha. READ MORE

Vedanta: One of the group’s companies said it was working on a solution to use hydrogen instead of coke in its manufacturing process to reduce carbon emissions. Vedanta’s Sesa Goa Iron Ore Business said it is seeking a tie-up with IIT-Bombay to conduct research on making iron ore using hydrogen instead of coke.

Export Import (Exim) Bank of India: The bank plans to raise about $3 billion in 2022-23 (FY23) via foreign bonds to support new loans and refinance some old debt. Harsha Bangari, managing director of India Exim Bank, said Treasury rates (government bond yields) have started to rise in international markets. READ MORE

Technoplast time: The company’s board of directors has approved a proposal to restructure overseas operations to capture growth in Asian countries, the Middle East and the United States through a joint venture/purpose vehicle special by integrating a strategic partner/investing partner by way of sale/transfer/disposal of part of the assets/investments of the subsidiaries/significant subsidiaries/resigning subsidiaries.

In addition, the company will benefit from the use of restructuring proceeds for debt repayment, capital expenditures for composite cylinders (LPG/CNG/hydrogen) and core business in India to meet the ‘huge market demand and benefit shareholders,’ she said in a statement. to BSE.

Multiplex owners: Shares of multiplex owners are likely to be in the spotlight as April promises to be as exciting as March was for Bollywood, due to heavy film scheduling and advance booking of tickets to blockbusters such as KGF: Chapter 2. KGF 2, which releases April 14.

Cadila Pharmaceuticals: The pharmaceutical major said it had developed the world’s first new three-dose vaccine against rabies.

CDS: A consortium led by the IT major has won an Rs 550 crore order from BSNL to roll out a locally designed 4G network, an official source said on Friday. The TCS consortium will initially deploy 6,000 mobile towers for BSNL 4G services.

Banks: Taking inspiration from the change in monetary policy stance and the tightening of yields, banks could consider revising lending rates, albeit in a calibrated manner. Much of the upward revision in lending rates is expected to happen when the RBI raises policy rates like the repo, the bankers said.

FMCG: Sales of fast-moving consumer goods (FMCG) slowed in the March quarter due to a sharp rise in prices, particularly of commodities that include edible oil, the intelligence platform said. Bizom detail. Sales of home care and personal care products have slowed. However, Bizom expects beverage sales to pick up in the summer months. READ MORE

Jet Airways: Returning to the airline’s board after almost two years, Sanjiv Kapoor now has a job that has no precedent: taking Jet Airways, which has been grounded for three years now, up in the air. The airline closed in April 2019 after running up a pile of debt and bankers refusing any new financing. The airline is expected to resume flight by the third quarter of CY2022. Jet will be the first bankrupt airline to be revived. READ MORE

Wipro: IT major appoints Anis Chenchah as Wipro Board Member and Managing Director of APMEA (Asia-Pacific, India, Middle East and Africa). Chenchah has over two decades of experience in consulting, IT and business process services. He joins Capgemini where he was Global CEO of Capgemini Business Services and member of the Group Executive Committee.

ABB India: Even as it expands its Gujarat factory in Vadodara by inaugurating a factory for digital substation products and systems, ABB India also plans to expand its production of traction motors for locomotives and metro projects with a new factory on site.

Vodafone idea: The Ministry of Telecommunications has returned bank guarantees worth Rs 15,000 crore to Vodafone Idea (Vi). This is in line with last year’s telecommunications reform package which reduced bank guarantee requirements for license fees and spectrum usage rights.

Axis Bank, IDBI Bank: The Reserve Bank of India announced on Friday that it has imposed a fine of Rs 93 lakh on Axis Bank for failing to comply with certain regulatory guidelines. Similarly, IDBI Bank was also penalized for non-compliance with instructions on “Fraud – Classification and Reporting by Commercial Banks and Certain Financial Institutions”.

Stocks under F&O prohibition: RBL Bank is the only stock in the F&O Monday blackout period.

Shawanda H. Saldana